The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
Market updates on October 29
On the H4 of EUR/GBP, we see that the price is testing the psychological level of 0.8612. The pair is consolidating, thus, the further direction will depend on the strength of the euro. If the pair falls below 0.8612, it will slide towards 0.8590. In the case of the reversal, the resistance is placed in the range of 0.8649-0.8663.
On the H4 of EUR/USD, we see a similar picture, indicating a bearish movement. The price may test the support range 1.1073-1.1061, 1.1038. If the pair sticks above 1.1085, we may see a rise to 1.1105.
Gold is on the sideways movement, indicating a potential for a rise. On the H1 chart of XAU/USD, it has already broken yesterdays’ resistance and is gradually climbing up towards the resistance levels at 1495.47, 1506.00 and 1514.47. For the market reversion, support levels may be set at 1488.83, 1484.14 and 1480.35.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…