October 29 page 001

 


The EUR/GBP pair might rise in the medium term, according to the daily and weekly charts. The price is above EMA 200 on the daily chart, and the RSI oscillator is above 50. Moreover, the MACD on the daily and weekly charts likely remains positive in the medium-long term. The price is above EMA 50 on the weekly chart, also confirming an uptrend. For this week, a lot of relevant economic data are expected to affect the market.

The most important data of this week:

October 30
France GDP QoQ (+0.4% expectation); ( +0.2% previous)
YoY (+1.5% expectation); (+1.7% previous)
Germany Unemployment Change (-11K expectation); ( -23K previous)
Germany Unemployment Rate (+5.1% expectation); (+5.1% previous)
Italy GDP QoQ (+0.2% expectation); (+0.2% previous)
YoY (+1% expectation); (+1.2% previous)
Eurozone GDP QoQ (+0.3% expectation); (+0.4% previous)
YoY (+1.8% expectation); (+2.1% previous)
Germany CPI MoM (+0.1% expectation); ( +0.4% previous)
YoY (+2.4% expectation); (+2.3% previous)
October 31
Eurozone Unemployment Rate (+8.1% expectation); (+8.1% previous)
November 1
BOE rate decision (+0.75% expectation); (+0.75% previous
BOE inflation report

UCADdaily page 001

 

The USD/CAD pair might rise in the medium term, according to our technical analysis. The RSI oscillator is above 50, and the price has already reached EMA 50 and EMA 200 on the daily chart. The MACD indicator likely remains positive as long as there is a sustained uptrend. The stochastic oscillator will remain above 50 for an extended period, according to the weekly chart.

The most important data of this week:
October 24
BOC rate decision (+1.75% expectation); ( +1.5% previous)
October 26
US GDP QoQ (+3.4% expectation); (+4.2% previous)

weekly chartUCAD page 001

GBPNZDdaily page 001

 

GBP/NZD bulls have solidly been in control for the past few weeks. According to our technical and fundamental analysis, the GBP/NZD pair might continue to rise in the medium term. The RSI oscillator is still above 50. Moreover, the price has already reached EMA 50 and EMA 200 on the daily chart and weekly chart. These are clear reasons that the uptrend will continue on this pair.

The most important data of this week:

October 16
New Zealand CPI QoQ (+0.7% expectation); (+0.4% previous)
YoY (+1.7% expectation); (+1.5% previous)
UK Unemployment rate (+4.00% expectation); ( +4.00% previous)
Employment Change (+11K expectation); (+3K previous)
October 17
UK CPI MoM (+0.3% expectation); (+0.7% previous)
YoY (+2.3% expectation); (+2.7% previous)

GBPNZDweekly page 001

GUdaily page 001

The GBP/USD pair might continue to rise, according to our recent fundamental and technical analysis. The MACD on the daily chart indicates the uptrend. If the price reaches EMA 200 at 1.3264, the next target will be 38% Fibo (1.3306).
A bottom has already formed at 1.2663 on the weekly chart. A long-term target might be 38% Fibo (1.3926), according to the weekly chart.

The most important data of this week:

October 10

UK GDP MoM (+0.1% expectation); (+0.3% previous)
QoQ (+0.6% expectation); (+0.6% previous)
US PPI MoM (+0.2% expectation); (-0.1% previous)
YoY (+2.6% expectation); (+2.3% previous)

October 11

US CPI MoM (+0.2%expectation); (+0.2% previous)
YoY (+2.4% expectation); (+2.7% previous)

GUWeekly chart page 001

USDCHFdaily page 001

 

The USD/CHF pair might rise in the medium-long term, according to the daily and weekly chart. The RSI oscillator on the daily chart is below 70, and this means that the USD/CHF will continue to rise. The price might form a triple top at 1.004, on the daily chart. The weekly chart also indicates that this pair is into an uptrend. The price has already reached EMA 50 (0.9780).

The most important data of this week:

October 3
US ADP Employment Change (+185k expectation); ( +163k previous)
October 5
Switzerland CPI MoM (+0.2% expectation); (0.00% previous)
YoY (+1.1% expectation); (+1.2% previous)
US NFP (+185k expectation); ( +201k previous)
Unemployment Rate (+3.8% expectation); (+3.9% previous)

USDCHFweekly chart page 0011

EURUSDdaily page 0011

 

The EUR/USD pair is still in an uptrend, according to the daily and weekly chart. The RSI oscillator is above 50, and the price has already reached EMA 50 on the daily chart.
In last week’s ECB press conference, ECB President Mario Draghi has mentioned a potential date when we might see the first interest rate rise. For the moment, European Central Bank leaves interest rates on hold at least through the summer of 2019.

September 26
FOMC rate decision (+2.25% expectation); ( +2.00% previous)
September 27
ECB Economic Bulletin
Germany CPI MoM (+0.1% expectation); ( +0.1% previous)
YoY (+2.00% expectation); (+2.00 previous)
US GDP Q2 (+3.00% expectation); ( +3.00% previous)

 

NZDJPYdaily page 001

The NZD/JPY pair might head lower in the medium and long term. The RSI oscillator is below 50 on the daily and weekly charts, and this shows a downtrend. The stochastic oscillator also indicates that the pair might fall in the next few weeks, according to the daily chart.
The NZD/JPY has remained in a downward trend channel for the past 12 months, hitting over a two year lower earlier in August.
The most important data of this week:
September 19
New Zealand GDP QoQ (+0.8% expectation); ( +0.5% previous)
YoY (+2.5% expectation); ( +2.7% previous)
BOJ rate decision (-0.10% expectation); ( -0.10% previous)
September 20
Japan CPI YoY (+1.1% expectation); (+0.9% previous)

NZDJPYweekly page 001

EURAUDdaily page 001

The EUR/AUD pair might fall in the medium term, according to our technical analysis. The RSI on the daily chart (80.45) has already reached an extremely overbought level. Also on the weekly chart, the RSI oscillator is above 70 and this indicates an overbought level.

The most important data of this week:

September 12
Eurozone Employment QoQ (+0.4% previous)
YoY (+1.4% previous)
September 13
Australia Employment Change August (+18k expectation);(-3.9k previous)

Unemployment Rate August (+5.3% expectation);( +5.3% previous)

Germany CPI MoM (+0.1% expectation);( +0.1% previous)

YoY (+2.00% expectation); ( +2.00% previous)

ECB Rate Decision (0.00% unchanged expectation); (0.00% unchanged previous)

EURAUDweekly page 001

AUDCADdaily page 001

The AUD/CAD currency pair might rise in the medium-long term, according to our technical analysis. The MACD oscillator will soon turn positive on the daily chart. The double bottom (0.9352) was also rejected. Moreover, the RSI oscillator on the weekly chart is 33.05, and this indicates that the AUD/CAD pair is near oversold territory. According to our analysts, there is also a high probability that Australian economy will grow by 0.9% QoQ.
The most important data of this week:
September 5
Australia GDP QoQ (+0.7% expectation); ( +1.0% previous)
YoY (+2.8% expectation); (+3.1% previous)
BOC rate decision (+1.5% expectation); ( +1.5% previous)
September 7
Canada Unemployment rate August (+5.9% expectation); (+5.8% previous)

AUDCADweekly page 001

UCADdaily page 0011

The RSI on the daily chart is below 50 and this is a sign of a medium-term downtrend. Moreover, Canada's inflation rate rose to its highest level since 2011 last month, as higher prices for airplane tickets, tourism and gasoline pushed the rate to three per cent. That's up from 2.5 per cent in June, which was already the highest level in more than six years.
According to our technical and fundamental analysis, the USD/CAD pair might fall in order to form a double bottom at 1.2550, in the long term.

The most important data of this week:
August 28
US GDP QoQ (+4.0% expectation); (+4.1% previous)
Canada Current Account (-15.45bl expectation); (-19.50bl previous)
August 30
Canada GDP MoM (+0.1% expectation); (+0.5% previous)
YoY (+2.3% expectation); (+2.6% previous)

USDCADweekly page 0011

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