Euro is falling against the Dollar
Yesterday's trading was characterized by the strengthening of the US dollar, which was a natural reaction of the players who were awaiting the publication from the minutes of the last Fed meeting on Wednesday. In fact, the protocols confirmed the “hawkish” position of the regulator. Moreover, some members of the FOMC support the need to raise the rate above the neutral level.
Staying on the point of view of the further medium-term growth of the exchange rate value of the US currency, it should be noted that following the results of trading on Wednesday, there is a formation of a number of signals indicating the probability of today's local weakening of the dollar.
From the data published yesterday, we can note weak statistics on retail sales in the UK. The September value in monthly terms was -0.8%, which is the lowest since April of the current year. It may be recalled that it was from the middle of this month that a significant strengthening of the US currency was observed in the markets. In addition, the attention of participants will be drawn to the news from the Summit of EU leaders, which will be another attempt to reach a compromise in the negotiation process on Brexit.
EUR/USD – The set of signals of technical analysis, indicating the probability of negative dynamics of quotations of the pair EUR/USD, was realized at yesterday's trading by lowering prices in the upper boundary of the medium-term downward channel near the mark of 1.1440. support and resistance areas are 1.1440-1.1380 and 1.1535-1.1575, respectively.
GBP/USD – The pair went down and breaks important supports and reached 1.3015 yesterday as a low due to Brexit news, The support zone today is in the area of 1.3000-1.2920. The resistance zone is present in the range 1.3140-1.3150
USD/JPY– Expectation to spend most of the day near its moving average around 112.10-112.50.because of low volatility of this pair, The support levels are 111.20-110.60. The resistance zone is located in the area of 113.30-113.75
USD/CHF– From a technical point of view, a local correction signal was formed on the USD/CHF chart. The divergence between the maximum prices and the corresponding values of the MACD indicator was recorded, which indicates the probability of a decrease in quotations to the 200-periodic MA area on the H1 time frame, which passes through the 0.9900 marks. The support zone is located at 0.9920-0.9874.
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