Analysis of currency and stock markets 27.09.2019

Technical analysis EURUSD

The pair is consolidating above 1.0910 in anticipation of the fresh US economy data. Durable goods orders and personal consumption expenditures are expected to show a positive trend. In this case, the pair is likely to continue dropping. In this case, the pair is likely to continue dropping.

The price is below the middle Bollinger band indicator, below SMA 5 and SMA 14. RSI hanging above the oversold area. Stoch are not informative.

Trading recommendations:

Sell the pair after its decline below 1.0910 with probable targets of 1.0870 and 1.0835.

GBPCHF Analysis

Analysis based on round-number levels, price channels and modified Elliot Waves

The overall movement of the currency pair is upward. The pair is trading in the range of 365 and 135 moving averages. The breakthrough of the round secondary level 1.2280 will result in formation of an upward pattern of the H1 level within the upward wave (C) of the H8 level.

Trading recommendations:

Buy above 1.2280.

Stop loss – 1.2200.

Target levels – 1.2350; 1.2450.

Trading ideas for APPLE Computer Inc. (NASDAQ)

The overall movement is upward. The support level 217.20 actively holds back sellers. The Wedge pattern is formed. The breakout of the pattern and the resistance level 221.45 will cause the formation of an upward 123 pattern within the overall upward movement.

Trading recommendations:

Buy above 221.45.

Stop loss below the support level 217.20

Target levels – 225.80; 233.00.

Important support and resistance levels

When buying an option against the trend, it is necessary to confirm other technical analysis tools – the presence of divergence, reversal candlestick patterns. Buy against the trend strictly on the retest level! Buying an option before publishing important economic news is considered risky. The expiration time depends on the strength of the level and confirmation by additional tools of technical and fundamental analysis.

Amazon Stock Analysis

Amazon has been able to breach the 1750.67 support level, thus preparing to start the bearish path provided that the stability of the trading below the mentioned level.

The price is currently moving below the 7-20-50 moving averages which form resistance levels and press it to fall further.

Stochastic is in a bearish direction and is approaching oversold areas, thus increasing the negative pressure on the price.

Expected trend for today: Bearish.

AUD Analysis

AUDUSD continues to decline quietly, and continues to trade within the descending channel shown, keeping the bearish trend scenario intact for the coming period, supported by SMA 50, noting that our next target is at 0.6670, while achieving stability below 0.6845. 

Expected trading range for today is between 0.6700 support and 0.6790 resistance.

Expected trend for today: Bearish.

JPY Analysis

The US dollar fluctuated in a narrow range, tilted lower during the Asian session to witness the bounce for the fifth session in eight sessions from its highest since early August, when it tested the highest since late May against the Japanese yen following the developments and economic data that followed from the Japanese economy and The US economy, the world's largest economy, is on the verge of economic developments and data on Friday.

At 05:58 AM GMT, USD / JPY fell 0.08% to 107.74 levels from 107.83 opening levels, after hitting a session low of 107.66 and a high of 107.85.

The Japanese economy followed the release of inflation data with the release of the Tokyo Consumer Price Index, which showed a slowdown in growth to 0.4% from 0.6% in August, worse than expectations for a slowdown to 0.5%. The core of the index itself, which excludes fresh food, slowed growth to 0.5% vs. 0.7%, also worse than expectations of 0.6%.

In a similar context, the core annual reading of Tokyo's consumer price index, excluding fresh food and energy, slowed growth to 0.6%, in line with expectations, against 0.7% in August, hours after Bank of Japan Governor Haruhiko Kuroda said Thursday during brief remarks. At the annual meeting of securities companies in Tokyo, inflation is likely to reach the target of 2% gradually.

BoJ Governor Kuroda said yesterday that it was important to continue patient monetary policy patiently in order to maintain the momentum needed to reach the inflation target, highlighting the need for more attention to the recent risks that are putting downward pressure on prices in foreign economies. The Bank of Japan will guide monetary policy appropriately while closely monitoring various risks.

Kuroda also said that the external uncertainty is the trade tensions between the United States and China, as well as the tensions of Brexit, the geopolitical strikes in the Middle East and the impact of the Chinese government's stimulus measures, pointing out that the downside risks to the Japanese economy, the third largest economy in the world. Recently increased.

On the other hand, investors are currently awaiting the US economy to reveal the Durable Goods Orders, which accounts for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect a 1.1% decline versus a 2.0% rise in July. While the core reading of the index itself may show a rise of 0.2% versus a decline of 0.4% in July.

This comes in conjunction with the release of spending and personal income data which may reflect a slowdown in personal spending growth to 0.3% from 0.6% in July, and personal income growth accelerated to 0.4% vs. 0.1% in July, while a reading of Core Personal Consumption Expenditure The pace of growth stabilized at 0.2%, little changed from the prior reading of July.

The Federal Open Market Committee (FOMC) and Fed Governor Randall Quarles also talked about the prudential regulation at Georgetown University, and the final reading of the University of Michigan Consumer Confidence reading, which could show a steady expansion of 92.0, little changed. It was at the initial reading for September at 92.1 and versus 89.8 in August.

Technical analysis:

USDJPY made fresh positive trading yesterday and attempted to breach the 107.70 level, but it is back to the downside with today's opening, which makes us hold onto our bearish outlook over intraday basis, supported by the negative crossover signal provided by Stochastic now, waiting to visit 107.20 then 106.70. Main.

We note that failure to hold below 107.70 will lead the price for additional gains starting with testing 108.30.

Expected trading range for today is between 106.70 support and 108.30 resistance.

Expected trend for today: Bearish.

Gold Analysis

Gold futures fluctuated in a narrow uptrend during the Asian session while still resuming their weekly losses for the fourth week in five weeks amid the negative stability of the US dollar index, indicating a rebound for the second session of its highest since September 19, when it tested higher Since May 12, 2017 according to the inverse relationship between them according to the inverse relationship between them on the eve of developments and economic data expected on Friday by the US economy, the largest economy in the world.

In the morning GMT gold futures for December delivery fell 0.30% to trade at $ 1497.45 an ounce compared with the opening at $ 1504.01 an ounce, with the dollar index fell 0.04% to 99.14 compared to the opening at 99.18.

Investors are currently awaiting the US economy to reveal the Durable Goods Orders, which accounts for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect a 1.1% decline versus a 2.0% rise in July. The core reading of the index itself may show a rise of 0.2% versus a decline of 0.4% in July.

This comes in conjunction with the release of spending and personal income data which may reflect a slowdown in personal spending growth to 0.3% from 0.6% in July, and personal income growth accelerated to 0.4% vs. 0.1% in July, while a reading of Core Personal Consumption Expenditure The pace of growth stabilized at 0.2%, little changed from the prior reading of July.

The Federal Open Market Committee (FOMC) and Fed Governor Randall Quarles also talked about the prudential regulation at Georgetown University, and the final reading of the University of Michigan Consumer Confidence reading, which could show a steady expansion of 92.0, little changed. What it was in the initial reading for September at 92.1 and 89.8 last August.

In view of the developments in the trade talks, we followed up on Thursday some report that the US administration may not extend the exemptions granted to US companies that deal and provide equipment to Chinese Huawei, which may cast a shadow on the upcoming high-level trade negotiations between the United States and China by the beginning of the month Next in Washington.

Technical analysis:

The price of gold provided sideways and narrow range trading yesterday, stuck between the trend confirmation levels of 1485.00 support and resistance now rising to 1513.00, therefore, we continue to remain neutral until the price confirms breaching one of the mentioned levels and then determining its next destination more accurately.

Note that breaching the mentioned resistance will push the price to resume the main bullish trend targeting 1555.00 as the next major stop, while breaking the support will activate the negative effect of a negative pattern that will press the price to achieve negative targets starting at 1447.00 then 1413.00.

Expected trading range for today is between 1490.00 support and 1525.00 resistance.

Expected trend for today: Neutral.

EUR Analysis

The European Union (EU) currency fluctuated in a narrow and bullish range during the Asian session to rebound from its lowest level since May 12, 2017 against the US dollar on the eve of developments and economic data expected on Friday by the euro zone economies and the US economy, the largest economy in the world. World, which includes a recent FOMC member Randall Quarles in Washington.

At 05:07 AM GMT the EURUSD rose 0.01% to 1.0922 levels from the opening at 1.0921, after the pair reached a session high of 1.0926, while reaching a two-year low of 1.0905.

Markets are looking ahead to the import price index for Germany, the euro zone's largest economy, which may reflect a widening decline of 0.3% from 0.2% in July, before we see the second largest economy in the region to reveal the preliminary CPI reading which may show a contraction of 0.2 In contrast to the 0.5% growth in August, coinciding with the French consumer spending index showed that growth slowed to 0.3% vs. 0.4%.

On the other hand, investors are currently awaiting the US economy to reveal the Durable Goods Orders, which accounts for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect a 1.1% decline versus a 2.0% rise in July. While the core reading of the index itself may show a rise of 0.2% versus a decline of 0.4% in July.

This comes in conjunction with the release of spending and personal income data which may reflect a slowdown in personal spending growth to 0.3% from 0.6% in July, and personal income growth accelerated to 0.4% vs. 0.1% in July, while a reading of Core Personal Consumption Expenditure The pace of growth stabilized at 0.2%, little changed from the prior reading of July.

The Federal Open Market Committee (FOMC) and Fed Governor Randall Quarles also talked about the prudential regulation at Georgetown University, and the final reading of the University of Michigan Consumer Confidence reading, which could show a steady expansion of 92.0, little changed. It was at the initial reading for September at 92.1 and versus 89.8 in August.

Technical analysis:

EURUSD is showing more bearish bias to gradually approach our awaited key target at 1.0857, leaving the downside trend likely over the coming sessions, supported by negative pressure from SMA 50, noting that a break above this level will push the price to 1.0785 as the next major stop.

The descending channel continues to organize the suggested bearish wave, which requires stability below 1.1050.

Expected trading range for today is between 1.0800 support and 1.1000 resistance.

Expected trend for today: Bearish.