Forex forecasts and market outlooks

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15.10.2019 - 09.10.2019

ATT Inc.: wave analysis

The price may grow.

On the 4-hour chart, an upward trend develops within the third wave of the higher level iii of 1 of (5). Now, the third wave of the lower level (iii) of iii of 1 i developing, within which a local correction has formed as the wave iv of (iii) shaped as a triangle. If the assumption is correct, the price will grow to the levels of 40.03–42.56. In this scenario, critical stop loss level is 36.82.

Intel Corp.: wave analysis

The price may fall.

On the 4-hour chart, a downward correction of the higher level forms as the wave (4), within which the wave B of (4) ended. Now, the development of the wave C of (4) has started, within which the wave i of C has formed, and the local correction ii of C is ending. If the assumption is correct, the price will fall to the levels of 47.39–44.73. In this scenario, critical stop loss level is 53.36.

USD/CHF: wave analysis

The pair may fall.

On the 4-hour chart, a local correction developed as the second wave of the higher level ii of 1, shaped as a flat. Now, the development of the wave iii of 1 i starting, within which the entry first wave of the lower level i of (i) of iii has formed, and the correction ii of (i) of iii has ended. If the assumption is correct, the pair will fall to the levels of 0.9656–0.9556. In this scenario, critical stop loss level is 1.0028.

AUD/USD: wave analysis

The pair may fall.

On the 4-hour chart, the third wave of the higher level iii of 3 of (5) forms, within which the wave (iii) of iii of 3 develops. Now, the first wave of the lower level i of (iii) has formed, and the local correction ii of (iii) ha developed. If the assumption is correct, the pair will fall to the levels of 0.6540–0.6418. In this scenario, critical stop loss level is 0.6810.

AUD/CAD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (0.8927). The closest resistance level is the lower border of the cloud (0.8991).

EUR/JPY: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (118.64). One of the previous maximums of Chikou Span line is expected to be a resistance level (120.02).

Industrial Production. Japan, 06:30 (GMT+2)

At 06:30 (GMT+2), preliminary data on industrial production for August will be published in Japan. The indicator fixes the level of change in the volume of industrial production and utilities in the country. The calculation takes into account the manufacturing and mining industries, as well as the electric power industry. It is predicted that production will decline by 1.2%, which may put pressure on the yen.

Consumer Price Index. China, 03:30 (GMT+2)

At 03:30 (GMT+2), data on the consumer price index in the PRC for September will be released. It is the main indicator of inflation in the country, which determines the change in the level of retail prices for a certain “basket” of goods and services: food, transport, utilities, health care and so on. It is predicted that on a monthly basis, the value will remain at the same level of 0.7%, and on an annualized basis it will increase from 2.8% to 2.9%.

RBA Meeting Minutes. Australia, 02:30 (GMT+2)

At 02:30 (GMT+2) the report of the October meeting of the Reserve Bank of Australia on monetary policy will be published. Investors will look in them for hints of further actions of the regulator. The RBA decided to reduce the interest rate from 1.00% to 0.75%, however, according to most observers, this is not enough to support the Australian economy, so further easing of rates is expected.

GBP/NZD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Tenkan-sen line (1.9915). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9985).