Forex forecasts and market outlooks

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15.10.2019 - 09.10.2019

Adobe Systems Inc.(ADBE/NASD): general review

Adobe shares are trading near a four-month low, down by 5% since the publication on September 17 of a strong report for Q3 and a forecast of revenue and profit for the current quarter below market expectations. According to the results of the past period, the company showed revenue growth of 24% (YoY) to a record USD 2.83 billion, earnings per share grew by 18.5% (YoY) to USD 2.05.

Ripple: technical analysis

Quotes of the XRP coin started the week with growth and entered the range of 0.2730–0.2807. Consolidating the price above its upper boundary will give the prospect of growth to the levels of 0.2929 (Murrey [8/8]) and 0.2990 (Murrey [+1/8]). The key level for the "bears" is seen at 0.2685 near the center line of Bollinger Bands, in the middle of the Murrey trading range. 

WTI Crude Oil: oil prices are going down

Oil prices showed a decline on Tuesday, responding to a sharp deterioration in the prospects for a trade agreement between the US and China after Washington blacklisted some Chinese companies. Donald Trump also changed the tone of his rhetoric regarding negotiations, emphasizing that achieving quick results is unlikely. In turn, some support for the quotes was provided by the ongoing unrest in Iraq and Ecuador, which are likely to adversely affect oil production.

NZD/USD: the pair is trading ambiguously

Yesterday, the pair NZD/USD rose moderately. However, the instrument failed to consolidate at the new highs, and by the end of the daily session, the New Zealand dollar had lost most of its advantage. The pressure is exerted by sharply worsened prospects for concluding a trade agreement between the United States and China, which threatens to further slow the global economy down. Washington blacklisted some Chinese companies, banning them from working with American companies and accusing them of oppressing China’s Muslim minorities.

JP Morgan Chase Co.: wave analysis

The price may grow.

On the 4-hour chart, the fifth wave of the higher level 5 of (3) develops, within which the wave v of 5 of the lower level forms. Now, the third wave (iii) of v has formed, and the local correction (iv) of v has ended, which has reached the correctional level of 62%. If the assumption is correct, the price will grow to the levels of 120.46–123.50. In this scenario, critical stop loss level is 110.47.

IBM Corp.: wave analysis

The price may fall.

On the 4-hour chart, an upward correction of the higher level ended as the wave (4) of C, and the development of the wave (5) started. Now, the first wave of the lower level 1 of (5) has formed, and the upward correction 2 of (5) has developed. If the assumption is correct, the price will fall to the levels of 128.71–121.25 within the third wave 3 of (5). In this scenario, critical stop loss level is 147.29.