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Monday, October 24th
EUR/USD
Current price: 1,0892 (0,1%)
Session range: Open 1.0883 High 1.0894 Low 1.0859
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.0819 R. 1.0961
Main drivers: FOMC Member W.Dudley’s Speech, FOMC Member J.Bullard’s Speech
Overview: The euro is trimming losses this morning as dollar’s upward rally is losing its pace. Adding to that, upbeat preliminary German Manufacturing PMI report seen in early Europe is also supporting common currency. Next on tap remains Eurozone preliminary PMI’s with FOMC member speeches that will be able to provide the pair with further direction during this Monday.
GBP/USD
Current price: 1,2242 (0,1%)
Session range: Open 1.2228 High 1.2249 Low 1.2185
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.2129 R. 1.2307
Main drivers: UK CBI Industrial Trends Orders, FOMC Member W.Dudley’s Speech, FOMC Member J.Bullard’s Speech
Overview: Currently the pair is extending its recovery from overnight lows marked at 1.2185 as fresh wave of risk sentiment hits the market thereby supporting the higher-yielding UK currency. Moreover, seems that US bulls have run out of steam also granting some support to the pound. Next of note for the pair remains UK CBI Industrial Trends Orders and several Fedspeaks that could bring some impetus to the pair.
USD/JPY
Current price: 103,89 (0,1%)
Session range: Open 103.84 High 104.03 Low 103.71
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 103.15 R. 104.53
Main drivers: FOMC Member W.Dudley’s Speech, FOMC Member J.Bullard’s Speech
Overview: Today pair’s bears have declined all attempts of the US currency to break through the resistance level of the 104.00. Despite strong demand for the greenback and prevailing risk-on sentiments across the market bulls couldn’t take control over the pair as positive Japanese Trade Balance data witnessed this morning is supporting JPY thereby forcing the pair to erase todays tepid gains. Nothing much is scheduled in today’s data calendar so the pair will remain tracing risk sentiments for further direction.
USD/CAD
Current price: 1.3331 (0.0%)
Session range: Open 1.3328 High 1.3360 Low 1.3325
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.3171 R. 1.3435
Main drivers: FOMC Member W.Dudley’s Speech, FOMC Member J.Bullard’s Speech, BoC Governor S.Poloz’s Speech
Overview: The USD/CAD pair continues to keep its firm note at the start of the week. The pair is still trading near its 7-week highs as Canadian dollar remains vulnerable to its American neighbor as downbeat data released last Friday continues to weigh Loonie, Moreover, the latest comments from BoC Governor S.Poloz that central bank was close to cut its rate also negatively affecting Canadian currency. Only secondary releases are scheduled in data calendar for today, so investors will focus their attention on the BoC Governor S.Poloz’s speech that could provide the pair with momentum later in NA session.
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