Market updates on September 30

Market updates on September 30

  • During the Asian trading session, ANZ business confidence for New Zealand fell to the lowest levels since 2008. As a result, NZD/USD tested the lows below the 0.6254 level. If the 0.6254 level is broken, the next support will lie at 0.6235.  Bulls will be looking for a short-term recovery towards the 0.6276 level. RSI will be especially helpful in this situation, as its line is moving close to the oversold zone. In case of a breakout of the 0.6276 resistance level, the next key level will be placed at 0.6297, close to the 50-period SMA.

NZDUSDH4.png

  • The cable has been trading above the 200-period SMA on H4, as the GBP traders anticipate the Brexit updates. In case of the news about the extension of the Brexit deadline, bulls may break the 1.2329 level and push GBP/USD higher towards the 1.2363 level. If the pair weakens, we may see the slide below the 1.2281 level. The next support will be placed at 1.2233.

GBPUSDH4.png

  • Gold has retested the lows of September 13 at $1,485. If it continues to weaken, it may provoke a further fall towards the $1,479.4 level. From the upside, pay attention to the resistance lines at $1,494 and $1,500. RSI has entered the oversold zone. If it leaves this zone, it may provide a buying opportunity.

XAUUSDH4.png

Similar

USD Holds the Line
USD Holds the Line

The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now. 

US Dollar Prepares for the Pump
US Dollar Prepares for the Pump

On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies. 

Uptrend in Gold Starts Now
Uptrend in Gold Starts Now

Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!

Latest news

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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