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15.10.2019 - 09.10.2019
USD is strengthening against EUR and GBP but weakening against the JPY.
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is leaving the overbought zone. The Composite is testing from above its longer MA.
At the end of last week, the pound against the US dollar reached a key support level of 1.2190 and consolidated near it.
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.
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.
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 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.
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.
Last week, the BTC price made an attempt to increase, rising to the level of 8750.00 (Murrey [4/8]), but then corrected downwards and is now trading at the level of 8300.00 (the center line of Bollinger Bands).