Hello. Below are a few recommendations for trading in the Forex market on 30.10.2019
On GBPUSD price stopped at round the 1.2800 level and formed a pattern Doji. More serious support at the pattern I see. But maybe he’s done the correction and will resume growth next trend. In the statistics of transactions shows that sellers have already gained, and for whose account go up.
On USDJPY price has stopped again on the resistance level of 109.00 and formed pattern Inner bar. It seems that the energy to go level is not enough, and probably want to see a correction down to or below 108,500. Sales here do not consider, as they are against the trend.
- KOSPI — 0,04%
- Shanghai Composite Index To 0.87%, The Shenzhen Composite Of 0.57%, Hang Seng — 0,39%
- S&P/ASX 200 + 0,07%
- Nikkei + 0.47% of
Economic statistics of Japan became the driver of growth in the Nikkei, published inflation excluding energy and automobiles, increased by 0.3 percent deflation in the previous month.
Other indexes showed near-zero momentum, Chinese markets turned negative, for the sagging technology sector. Investors were disappointed failure report Google quarterly profit by 23% worse than expected.
Came out this morning stats:
- The volume of retail sales in Japan
- Inflation and new home sales Australia
- Dow Jones Up 0.07%
- The S&P500 By 0.08%
- NASDAQ — 0,59%
Impressive drop in profits Google led to the decline in the index of technology companies on Tuesday. Activity on other U.S. exchanges were near zero, investors are not eager to open new positions before the data release fed funds rate.
The Committee is expected to FOMC cut interest rates, but bidders will be interested in comments on the further plans of the Regulator.
The evening will be released:
- 15-30 – US GDP
- 17: 00 interest rate Decision Bank of Canada
- 18-15 – Press conference Bank of Canada
- 18-30 – oil Reserves in Oklahoma
- 21-00 – Decision FOMC fed funds rate
- DAX — a 0.02%
- FTSE — 0,34 %
- CAC40 + 0,17%
The main news of the day was the consent of the British Parliament for early elections, the decision was announced by speaker John bercow on results of yesterday’s voting members. It was held again at the initiative of Prime Minister Boris Johnson.
A positive result of the first 100 years of the winter elections, connected with the consent of the opposition. The tories hope that they will get the most votes in the new structure, gathering a coalition against the conservatives. The market reacted negatively to early elections because of the unpredictability of the result.
In the first and second half of the day will be the European statistics:
- 9-30 – GDP France
- 10-00 – the Index of housing prices in the UK
- 10-45 – consumer Spending in France
- 11-00 – leading indicators of Switzerland
- 11-55 – unemployment and employment in Germany
- 16-00 – Inflation Germany