Forex forecasts and market outlooks

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15.10.2019 - 09.10.2019

EUR/GBP: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is crossing Kijun-sen from above, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. The closest support level is Tenkan-sen line (0.8758). The closest resistance level is the upper border of the cloud (0.8818).

XAU/USD: Fibonacci analysis

On the 4-hour chart, the price reversed at 1478.50 (correction 23.6%) and was corrected to 1496.50 (correction 50.6%, Bollinger bands’ midline). Its breakout will give the prospect of growth to 1504.60 (correction of 61.8%) and 1515.00 (correction of 76.4%). Otherwise, the decline to 1478.50 (correction 23.6%) and 1462.00 (correction 0.0%) will resume. Technical indicators do not give a clear signal. The MACD histogram is decreasing in the negative zone, Stochastic is pointing upwards. Bollinger Bands are falling. Also, the price is under pressure of a downward fan.

NZD/USD: technical analysis

On a 4-hour chart, the instrument approaches the lower border of Bollinger bands from above. The indicator is reversing downwards, and the price range has expanded, indicating a continuation of the downtrend. The MACD histogram is being corrected in the neutral zone, while keeping a poor sell signal. Stochastic has entered the oversold zone; a strong buy signal is expected during the day.

Visa Inc. (V/NYSE): general review

Shares of Visa added more than 4% in value from a 2-month low of October 2 and are currently trading at the level of a monthly high. Since the beginning of this year, the issuer quotes have increased by 34%. Visa has announced the launch of new instant deposit functionality through the Visa Direct payment system in collaboration with QuickBooks. Next week, on October 24, the company will report for the previous quarter.

Mastercard Inc. (MA/NYSE): general analysis

Mastercard shares are trading near the month’s high, strengthening since the middle of last week. The decrease from the September 52-week high exceeded 6%. The company announced the withdrawal from the Libra Facebook cryptocurrency association following PayPal. At the end of the current month, October 29, before the market opens, a report for the past quarter will be published.

Industrial Production. EU, 11:00 (GMT+2)

At 11:00 (GMT+2), data on the volume of industrial production in the EU countries for August will be published. 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 expected that the August indicator will grow by 0.2% MoM and will fall by 2.5% YoY. The implementation of the forecast may put pressure on the euro.