Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Saturday, 21 October 20:45 (GMT -05:00)

Foreign exchange market

Euro, Pound, Yen, and Franc Prospects for the first Week of October

The analysts working for NordFX have published another weekly forecast (October 2nd – 6th) for such currency pairs as EUR/USD, GBP/USD, USD/JPY and USD/CHF.




At first, they analyzed last week’s market dynamics (September 25th-29th):
EUR/USD remained under the pressure coming the Fed’s decision to raise the interest rate 4 times next year. The results of the recent parliamentary election in Germany also turned out to be against the common European currency. Even though Angela Merkel’s party won, this wasn’t a confident victory. As predicted by the experts, the Euro lost over 230 points against the U.S. Dollar in the middle of the week but later on, the common currency managed to recover a bit by rallying up to 1,1815.
GBP/USD dropped a little, which means that the U.S. Dollar strengthened against the British Pound by around 100 points.
As for USD/JPY, NordFX was right again by predicting a retracement followed by another rally. However, we must confess that the retracement wasn’t as deep as expected. On Monday, the currency pair dropped down to 111,50, which was followed by a move up to 113,25 (on Wednesday). The currency pair ended the trading week at 112,50, which means that the uptrend is cooling down.
As for USD/CHF, most experts as well as the D1 chart analysis predicted a new local high around 0,9770, and the forecast did actually manifest itself. This price level was reached on Wednesday, and the local trend reversed after that. The currency pair ended the week 20 pips below the starting price.
Now let’s proceed to the forecast for the current trading week by the analysts working for the leading brokers and banks. According to NordFX analyst Roman Boutko has made the following conclusion:
EUR/USD. The situation is unclear which is why experts are divided – 50% of them are bullish and 505 of them are bearish. The trending indicator applied to the H4 chart shows 30% of red marks and 70% of green ones. As for the same indicator applied to the D1 chart, everything looks the opposite. The green marks dominate H4 oscillators as well.
The chart analysis predicts that the currency pair is probably going to test 1.2100 over the next 2-3 weeks. After that, the price may well reverse and aim for 1.1660 as the key support target. The forthcoming ECB meeting (scheduled for October 4th) and the Non-Farm Payrolls (USA) may seriously influence the currency pair this trading week. By the way, they expect the NFP stats crash from 156K all the way down to 98K jobs, or even 75K jobs.
Traditionally, this means a weaker dollar, but not always since big-scale players have been playing against this supposition for a while, and that’s why many traders have been suffering serious financial losses.
GBP/USD. 55% of the experts predict a downtrend. The bearish sentiment is backed by trending indicators applied to H4. As for the D1 chart, it allows the experts to expect a move down to the bottom of the mid-term ascending sloping channel by mid-fall. The closest goal is 1.3040. The closest level of resistance is 1.3500.




20% of the expert community expect the currency pair to raise up to 1,3600. Another 25% expect a flat market. All the indicators and oscillators applied to the D1 chart are neutral.
USD/JPY. 55% of the experts think that the currency pair has entered the correction phase. 25% of the oscillators confirm that. As a result, they expect the price to temporarily retrace down to the 111,00 – 111,50 area. The rest of the experts don’t expect any retracement and predict a further rally up to 114,50, which is the top of the mid-term horizontal channel. The bullish bias is backed the early parliamentary election in Japan scheduled for October 22nd.  


USD/CHF. The experts expect the price to move within the 0,9585 – 0,9770 range. It should be noted that 1/3 of the oscillators indicate that the market is overbought. This may lead to a move down to the bottom of the range, followed by a rebound in the upward direction. This is expected by 60% of the experts and backed by the analysis of H4 and D1 charts.


You are free to discuss this article here:   forum for traders and investors


Add to blog
Got a question? – Ask it here »

Duckascopy Offers Most Favorable Trading Conditions to Forex Traders

Profitable forex trading has become something usual for thousands of people all over the world. Having decided to change their lives for the better one day, they started valuing the active lifestyle of daily trading while listening to those market signals. Keeping in mind all the risks and potential benefits of trading forex, they dared take their first step.

Publication date: 19 October 10:36 AM

Bitcoin Sets Another All-Time High

Bitcoin has completely recovered from September’s downtrend and is now moving higher. Moreover, the world’s first and most popular cryptocurrency has just set a new all-time high, Market Leader reports.

Publication date: 14 October 03:28 AM

Billionaire Cuban Calls Cryptocurrencies and Blockchain the Future of Financial Markets

American billionaire Mark Cuban thinks that cryptocurrencies and the blockchain technology is the future. He shared his opinion with the public during his interview with Bloomberg. He talked about Bitcoin and the development prospects for the entire industry of digital currencies.

Publication date: 10 October 10:10 PM

Miners Start Panicking as Some Cryptocurrencies Start Going Down in Value

Bitcoin is making everyone nervous again. Bitcoin miners start panicking, and the panic is driven by the news that Bitcoin Cash and some other cryptocurrencies are crashing again, Market Leader reports.

Publication date: 08 October 01:34 PM

Bitcoin Exchange Rate Retraces Before Another Rally, Expert Says

These days, new financial assets are being added to the list of forex assets. Those are highly volatile assets like cryptocurrencies, for example. Cryptocurrencies have been getting increasingly popular with international forex traders. This holds especially true for Bitcoin, which is the world’s first and most popular digital currency.

Publication date: 08 October 05:40 AM

Masterforex-V Expo Names Best Forex Brokers for Beginners in September 2017

To succeed in trading financial markets in general and forex in particular, each and every trader needs to choose the right broker. Most people think that there is no difference between forex brokers, expect their names. Well, it may seem so at first sight but the truth is, brokers differ in many aspects, including the quality of products and services they offer, as well as the trading conditions.

Publication date: 05 October 08:54 AM

Goldman Sachs Will Trade Bitcoin

Goldman Sachs, a major American investment bank, is now considering a new option – working with Bitcoin and other cryptocurrencies. The Wall Street Journal reported about yesterday.

Publication date: 02 October 09:28 PM

NordFX is the best broker, FIBO Group, XM.com and FxPro are the worst brokers based on trader feedback

Many of those who make their first steps in forex trading usually search for customer feedback before going with a certain forex broker. Evaluating a broker through customer feedback, including various review on the Internet, is a major factor to consider, though a rather biased one. Basically, that’s the reason why customer feedback is only one of those 20 criteria (licenses, expertise, offices, trading conditions, and so much more) used by Masterforex-V Expo to create various ratings of FX brokers.

Publication date: 30 September 08:47 AM

What is the best place to store cryptocurrencies?

The most common reason why people get their digital currencies stolen is that their e-wallets are often poorly secured and therefore vulnerable. Apparently, such apps do have vulnerabilities. However, there are certain tips and tricks that will help you to increase your security when it comes to storing digital currencies, Market Leader reports.

Publication date: 27 September 09:53 AM

What Threats Do Cryptocurrencies Bring to Users and Investors?

Anonymous cryptocurrencies are said to simplify many financial transactions. Those who advocate digital currencies claim that they are very easy to use, even though this is a rather disputable statement, Market Leader reports.

Publication date: 25 September 09:45 PM