Forex forecasts and market outlooks

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15.10.2019 - 09.10.2019

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.

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.

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.