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Business / Finance

Market overview on 15.10.2018

Portal Forex trader 14.10.2018 at 21:42

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Hello. Below view on a few interesting points, for trading in the Forex market in the beginning of the new trading week 15.10.2018

GBPUSD

On the GBPUSD pair formed a pattern of Absorption. To the level of 1.3300 price is not reached and the pattern there is no support from above. Probably a little eccorrections down to 1,3100 area and trend line. Then we will try to continue the up trend. Sales do not see here.

USDJPY

On the USDJPY formed another pattern Doji at the level of 112.00, and the trend line. Will probably be the end of a deep correction down and try to restore growth and to continue to develop the trend is up. Look here to purchase.

Open orders big banks

Fundamental analysis APR

the Last session of the week on the Asian markets ended positive:

the Shanghai Composite up 0.9%, Hang Seng+ 2.1%, while the Shenzhen Composite up 0.2% Nikkei up 0.5% Kospi +1.5% of the S&P/ASX 200

growth is fueled by factors of recovery in the global indices after a crushing fall in the "black Wednesday," the U.S. stock market and news on trade balance of China in September. Despite the American protective duties, the surplus of exports of China and the balance rose above analysts ' forecasts.

the Low growth of the Australian market led to the continuing fall of oil and the drop in the volume of home loans issued in August to minus 2.1 percent, while experts expected a decline to 0.9%

USA Dow Jones + 1.15% on the NASDAQ + of 2.29% S&P 500 by 1.42%

American investors "recovering from terror", the data on the profits of the banking giants at the time of closure in September of the financial year has led to significant outcome plus indexes at the end of the auction.

So, JP Morgan for 9 months of 2018 showed a 26% increase in net profitability, Citigroup and +14% over the same period. The optimism of the reports allowed traders to ignore negative signals at University of Michigan, fallen expectations and consumer sentiment.

Quick recovery of the markets has changed the rhetoric of the U.S. President and the White House, which announced the fall of "normal correction."

the Optimism of the stock players have given to the Forex traders, raised the rate of dollar index above 95 points, against a basket of major currencies.

the Eurozone

the Main event for markets in Europe can be an unexpected visit of the negotiator of the EU Michel the Election in the UK and notes Politico about the final decision on the conditions of "divorce". The publication claims that the theme of Brexit is closed.

the News came very handy continued to fall after the speech of Mario Draghi in Indonesia European indexes:

the FTSE to 0.16%, the CAC 40 is 0.2% DAX down 0.13 percent

the head of the ECB is almost guaranteed curtailing of incentives, which is equivalent to growth rates, despite they recognized the uncertainty of the future of the global economy, the ability to shrink under the influence of the trade wars of the United States.

the Speech of the ECB President at the summit of the IMF and the world Bank in Indonesia

This clause has caused uncertainty in the ranks of the bulls of the Euro and led to the depreciation of the EUR/USD.

regards, Artem aka TeaDrinker

last autumn