Volumetric analysis on October 12

EUR/USD

Trump criticizes the actions of the Fed, the US stock market falls on the expectations that the Fed's rate will be increased in December. All those factors directly affect the weakening of the US dollar. However, any reduction is replaced by growth, the US stock market can go for a recovery, the markets will remember that the US president cannot influence the decisions of the Fed, and the expectations of a rate hike are still high. In general, even though we are seeing a small collapse of the US dollar, we should not think that this long-term trend. At the end of yesterday's trading session, there was significant volumes, which can say that the upward movement is over. However, it is important to note that this is only an assumption. In fact, the technical picture tells us that trend on EURUSD is up, at least, until we broke through 1.1535. But we will speak about the resumption of growth only after a clearance of resistance at 1.1610. After the breakdown it is worth waiting for the rollback down and count on the growth of quotations to 1.1675.

GOLD

Gold finally attract our attention. Such growth clearly has a fundamental background, but we will not look for it. The main thing is that there are no events in the world that contradict with the growth of an asset, but we cannot predict their appearance, so it’s worth paying attention to how the forces are located. Pay attention to the price range of 1210-1202. It is large in terms of volume, and its breakdown will speak about a change in trend. In the meantime, this has not happened, we are waiting for a corrective decline in 1210-1202 and we expect growth towards to 1230. By the way, attention is also falling to the level of 1215. It is interesting because there was a fairly large and pinpoint volume injection. It is possible that the price will not fall below 1215. And then there is an aggressive idea, count on the growth of quotations with a target of 1240.

WTI

Depreciation is generally good. First, we waited for the breakdown of support and a fall to 70.70. Secondly, the growth that we would see meant flat. And then on the face of a downward trend. We determine the place of probable resistance, for this the price range of 73.50-71.60 is well suited, we wait for the price to end in this range and move down to 68.80 and intermediate target 69.90. The appearance of prices above the 73.50 will tell us that there is no downward trend, and we still ended up in a boring flat.

 

 


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