EUR/USD, “Euro vs US Dollar”

After finishing another ascending wave at 1.1815 and even extending the fifth structure towards 1.1849, EURUSD has returned to 1.1784; right now, it is consolidating around 1.1820. Possibly, today the pair may form one more ascending structure to reach the latter level or even break it. After that, the instrument may correct towards 1.1876. However, if the price breaks the range to the downside at 1.1780, the market may resume trading downwards with the target at 1.1660.

EURUSD

 

GBP/USD, “Great Britain Pound vs US Dollar”

After failing to break 1.3060 to the downside on the first try, GBPUSD is consolidating in the middle of the range around 1.3100. Possibly, the pair may start another growth to reach 1.3140 and then resume falling with the short-term target at 1.2940.

GBPUSD

 

USD/RUB, “US Dollar vs Russian Ruble”

USDRUB is falling towards 73.93. Today, the pair may reach this level and then start a new correction towards 74.40. If later the price breaks the current range to the downside, the market may resume trading downwards to reach 71.90; if to the upside – form one more ascending structure with the target at 75.20.

USDRUB

 

USD/JPY, “US Dollar vs Japanese Yen”

USDJPY is still growing towards 106.27 and may later fall to reach 105.68, thus forming a new consolidation range between these two levels. If the price breaks the current range to the downside, the market may resume trading downwards to reach 104.90; if to the upside – continue the correction with the target at 106.60.

USDJPY

 

USD/CHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9111. Possibly, the pair may break this range to the upside and reach the short-term target at 0.9150. Later, the market may start a new decline to return to 0.9111 and then form one more ascending structure with the first target at 0.9165.

USDCHF

 

AUD/USD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.7173. Today, the pair may fall to break 0.7140 and then continue trading downwards with the short-term target at 0.7070.

AUDUSD

 

BRENT

After breaking 45.60 to the upside, Brent is expected to reach 46.20. After that, the instrument may correct towards 45.15 and then resume trading upwards with the short-term target at 47.45.

Brent

 

XAU/USD, “Gold vs US Dollar”

Gold is still consolidating around 1934.55 and may fall towards the downside border at 1908.00. If later the price breaks this level, the market may resume trading downwards with the target at 1887.88 and then 1850.00. However, if this range is broken to the upside at 1944.44, the instrument may start another correction towards 1975.50 and then form a new descending structure to reach 1850.00.

XAUUSD

 

BTC/USD, “Bitcoin vs US Dollar”

BTCUSD is consolidating around 11600.00. Possibly, today the pair may expand the range up to 11800.00 and then form a new descending structure to reach 11200.00 or even break it. After that, the instrument may continue the correction with the target at 11000.00 and then 10550.00.

BTCUSD

 

S&P 500

After finishing the ascending wave at 3448.8, the S&P index is expected to correct towards 3413.7. Later, the market may resume moving upwards with the target at 3461.9.

SP500

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Editors’ Picks

EUR/USD: Fears will continue to support the dollar

The EUR/USD pair has lost some ground this week, trading in the 1.1700 price zone. Central banks are cautiously moving toward trimming their massive stimulus programs. Growth-related data suggests a steeper deceleration of economic progress.

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GBP/USD: Rate laurels go the the US Federal Reserve

BOE leaves rates, asset purchases unchanged, warns on inflation. Federal Reserve and Chair Powell set the stage for bond taper. US Treasury rates move sharply higher after the FOMC meeting. GBP/USD drops below 1.3700 in Friday trading.

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Gold remains vulnerable amid hawkish Fed outlook

Following the previous week’s decline, gold staged a rebound and closed in the positive territory on Monday and Tuesday. After reaching its strongest level since last Thursday’s sharp decline at $1,787 on Wednesday.

Gold News

PBoC imposes ban on crypto trading as it fosters ‘illegal financial activity’

PBoC bans crypto trading activities and a plethora of associated services, labeling it “illegal.” Overseas cryptocurrency exchanges providing services to Chinese residents will be investigated in accordance with the law. 

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What's next?

As Q3 winds down and Q4 begins, the broad investment climate is being shaped by the turning of the monetary cycle.  Norway was the first, and New Zealand will be next.  It is not so much that these moves will force others to do the same.

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Majors

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