Market updates on October 25

Market updates on October 25

Key events

GfK Consumer Confidence – 08:00 MT (06:00 GMT)

Ifo Business Climate – 10:00 MT (08:00 GMT)

European trading session started today on a bullish move. GfK Consumer confidence index came out just slightly lower than the previous mark. Ifo Business Climate index proved exactly the same as in the   month before, continuing a gradual rise. On the H1 chart of EUR/USD we have local support at 1.1096. Traders need to watch out for this level not to be broken. If the rising trend reverts and the downward movement is indicated, the next support may be placed at 1.1067. If the trend continues upward direction, the nearest resistance level may be set at 1.1134. If this level is passed, the next threshold   may be located at 1.11514 with the midterm resistance at 1.1117.

EURUSDH1 25Oct.png

On the USD/JPY H1 chart we see that dollar is experiencing continuous volatility. If the support level at 108.50 is broken, the next support may be located at 108.31. If the trend shows bullish potential, the resistance level to be watched is 108.71. If it is passed, the next threshold may be placed at 108.87.


This week started on the bullish note for gold. If it continues the same trend, the resistance level to be watched is 1508.20. If it is broken, the next level may be placed at 1515.38 for upward direction. If the quote reverts into downward direction, the first support is at 1500.91. Further levels for the bearish move may be located at 1491.77, 1488.64 and 1482.92.



What will move the markets on September 20-24
What will move the markets on September 20-24

Quadruple witching is gone and now there are no reasons for the market to hinder. From banks statements and economic data to gas storage reading and Fed’s Powell speech – get ready for active trading.

Strong US Retail Sales Pressed Gold
Strong US Retail Sales Pressed Gold

The US showed strong retail sales for August despite the spread of the Delta virus strain. As a result, the US dollar rocketed and gold dropped by 2286 points in half an hour after the release.

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Key Market Driver: FOMC Statement
Key Market Driver: FOMC Statement

The FOMC, a committee within the Federal Reserve, will hold an important meeting and press conference on September 22 at 21:00 MT time (GMT+3).

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