Forex forecasts and market outlooks

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15.10.2019 - 09.10.2019

ASX200: technical analysis

On the H4 chart, a lateral trend is forming. The instrument is moving within a corridor formed by the boundaries of Bollinger Bands. The indicator cloud is narrowed. MACD histogram is in the negative area, near the zero level. Its volumes are minimal and the signal line is moving horizontally along the zero level, without giving a clear signal to enter the market. Stochastic is in the neutral zone, and the lines of the oscillator are directed downwards. The sell signal remains.

FTSE: technical analysis

On the 4-hour chart, the instrument consolidated above the MA of Bollinger bands. The indicator reverses sideways, and the price range remains limited, which indicates the continuation of the correction dynamics. The MACD histogram is being corrected at the zero level, a signal for opening positions is not formed. Stochastic is approaching the overbought zone; a strong sell signal can be formed within 1–2 days.