SUMMARY

  • The USDolar strengthened yesterday, but the market is still cautious in its equity distribution, concerns about the second wave of COVID-19, the stock market selloff and the steepest in the past month, also supported the bond rally
  • It will be seen how fast the flow of equities that have flown in and out of safe haven currencies to other assets is a manifestation of market players’ caution in responding to developments in economic fundamentals

Market Fx Techincal Overview October 27th, 2020

EURUSD

The 1.1828 area is a signal of continued strengthening of the Euro, if it breaks and closes H4 above the 1.1840 area, the target is to the 1.1875 area, on the other hand the 1.1814 area becomes a signal for weakening, closing H4 is below the 1.1802 area, the target is the 1.1760 area. Buy levels : 1.1796-1.1818 Cutloss : 1.1765, Sell levels : 1.1835-1.1888 Cutloss : 1.1919

Strong Support : 1.1802 Strong Resistance : 1.1840

GBPUSD

The 1.3018 area is a signal for the weakening of the pound, if it closes below the 1.2987 area, the target is to the 1.2933 area, on the other hand the 1.3055 area will be a signal for the strengthening of the pound if closing above the area the target is the 1.3101 area. Buy levels : 1.2968-1.2980 Cutloss : 1.2920, Sell levels : 1.3035-1.3060 Cutloss : 1.3110

Strong Support : 1.2990 Strong Resistance : 1.3055

AUDUSD

The 0.7156 area is a signal of strengthening the Aussie if the closing H4 is above the 0.7156 area, the target is to the 0.7191 area, on the other hand, the 0.7104 area becomes a signal of weakening if H4 closes below that area, the target is the 0.7070 area. Buy levels : 0.7080-0.7104 Cutloss : 0.7045, Sell levels : 0.7137-0.7171 Cutloss : 0.7195

Strong Support : 0.7104 Strong Resistance : 0.7145

USDJPY

The 104.60 area becomes a support area, if it breaks and closes H4 below that area, target the 104.33 area, on the other hand the 104.87 area signals a weakening of the Yen, if closing above that area the target is the 105.15 area. Buy levels : 104.54-104.74 Cutloss : 104.24, Sell levels : 104.95-105.15 Cutloss : 105.40

Strong Support : 104.68 Strong Resistance : 104.87

USDCHF

The 0.9072 area is a signal for the weakening of the Swiss Franc, if the closing of H4 is above the 0.9080 area to the 0.9115 area, on the other hand the 0.9056 area signals a strengthening, closing below the 0.9035 area target to the 0.9009 area. Buy levels : 0.9065-0.9045 Cutloss : 0.9020, Sell levels : 0.9085-0.9111 Cutloss : 0.9135

Strong Support : 0.9060 Strong Resistance : 0.9080

ianz

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