Forex forecasts and market outlooks

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23.09.2019 - 17.09.2019

GBP/NZD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is approaching the price chart from above, current cloud is ascending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (1.9650). The closest resistance level is Kijun-sen line (1.9806).

EUR/GBP: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from above, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is approaching the price chart from below, current cloud is descending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. Borders of the cloud serve as the closest support (0.8828) and resistance (0.8880) levels

XAU/USD: general analysis

Last Friday, gold moderately strengthened after Chinese officials suspended their visit to the US without visiting a number of important sites, which was unexpected and led to a fall in the American companies’ shares. The Fed key rate decrease by 25 basis points and the mixed FOMC voting created uncertainty regarding monetary policy parameters by the end of this year. The head of the regulator Jerome Powell repeated that the rate cut is insurance against risks in the US economy.

GBP/USD: upward momentum will continue

The GBP/USD pair has been keeping an upward trend throughout September. At the beginning of the month, the oversold pound received support amid growing investor interest. At the end of the last trading week, the price moved to a correctional decline after the publication of negative data on UK retail sales and strong statistics on the US labor market. Now, the instrument fell to the lower border of the narrow rising channel.

NZD/USD: technical analysis

On the H4 chart, the instrument returned to decline after correction and is trading at the lower border of Bollinger Bands. The indicator cloud is expanded, which indicates the probable preservation of the downtrend in the short term. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic is crossing the oversold zone boundary from below, forming a signal to open long positions.