Daily Market Analytics - Forex

[FXOpen Trader]

EURUSD Technical Analysis – 31st OCT, 2024
EURUSD – Near Horizontal Support

EURUSD was unable to continue its bearish momentum and after touching a low of 1.0807 the prices started to correct upwards against the United States Dollar today in the US Trading session.
The MACD crosses UP its Moving Average in the 30-minutes timeframe.
Also, we can see Aroon indicator bullish trend formation in the 30-minutes timeframe.
EURUSD is now ranging Near support of triangle in the 1-hourly timeframe.

The Williams percent Range indicator is back over -50 in the 1-hourly timeframe.
The Momentum indicator is back over zero in the 1-hourly timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets which indicates the presence of the consolidation wave in the markets.
EURUSD is now trading above its 100-hour SMA and below its 200-hour SMA simple moving averages.
• Euro Bullish reversal seen above the 1.0807 mark.
• Short-term range appears to be Bullish.
• EURUSD continues to remain above the 1.0850 levels.
• Average true range ATR is indicating Less market volatility.

The next resistance is located at 1.0884 which is a Price 1 Standard Deviation Resistance.
EURUSD is now trading near to its Pivot levels of 1.0852 and is moving into a Bullish channel.
The price of EURUSD remains above its Classic support levels of 1.0840 and is moving towards its next target of 1.0907 which is a 38.2% Retracement From 4 Week Low.

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Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

[FXOpen Trader]

GBPUSD Technical Analysis – 31st OCT, 2024
GBPUSD – Bullish Trend Reversal Pattern

GBPUSD was unable to continue its bearish momentum and after touching a low of 1.2936 the prices started to correct upwards against the United States Dollar today in the US Trading session.
We can see Bullish trend reversal: adaptative moving average 100 in the 30-minutes timeframe.
Also, we see Bullish trend reversal: Moving Average 20 in the 1-hourly timeframe.
We can see Aroon indicator bullish trend in the 1-hourly timeframe.

We also see Bullish trend reversal: adaptative moving average 20 in the 2-hourly timeframe.
We have detected Bullish trend reversal: adaptative moving average 100 in the 2-hourly timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets indicating the presence of the consolidation wave in the markets.
The MACD indicator: bullish divergence is visible in the daily timeframe.

GBPUSD is now trading above its 100-hour SMA and its 200-hour SMA simple moving average.
• Pound Bullish reversal seen above the 1.2936 mark.
• Short-term range appears to be Bullish.
• GBPUSD continues to remain above the 1.2970 levels.
• Average true range ATR is indicating Less market volatility.

GBPUSD is now trading near to its Pivot levels of 1.2986 and is moving into a Bullish channel.
The price of GBPUSD is above its Classic support levels of 1.2938 and is now moving towards its next target of 1.2994 which is a Price 2 Standard Deviations Resistance.
We are also looking for the breach of the levels of 1.3005 which is a 14-3 Day Raw Stochastic at 50%.

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Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

[FXOpen Trader]

NZDUSD Technical Analysis – 31st OCT, 2024
NZDUSD – Near Support of Channel

NZDUSD was unable to continue its bearish momentum and after touching a low of 0.5964 the prices started to correct upwards against the United States Dollar today in the US Trading session.
The prices are ranging Near support of channel in the 15-minutes timeframe.
Also, we see Bullish trend reversal: Moving Average 20 in the 4-hourly timeframe.
We see that prices are Near support of triangle in the weekly timeframe.

The CCI indicator is oversold: under -100 in the daily timeframe.
Some of the technical indicators are also giving a Bearish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
NZDUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving averages.
• Kiwi Bullish reversal seen above the 0.5964 mark.
• Short-term range appears to be Bullish.
• NZDUSD continues to remain above the 0.5970 levels.
• Average true range ATR is indicating Less market volatility.

The next resistance is located at 0.5999 which is a Pivot Point 1st Resistance Point.
NZDUSD is now trading near to its Pivot levels of 0.5978 and is moving into a Bullish channel.
The price of NZDUSD remains above its Classic support levels of 0.5963 and is now moving towards its next target of 0.6025 which is a Pivot Point 2nd Level Resistance.

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Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

[FXOpen Trader]

USDCAD Technical Analysis – 31st OCT, 2024
USDCAD – Near Resistance of Triangle

USDCAD was unable to continue its Bullish momentum and after touching a high of 1.3931 the prices started to decline against the United States Dollar today in the US Trading session.
The prices are ranging Near Resistance of Triangle in the 15-minutes timeframe.
We have seen Moving Average bearish crossovers: MA20 & MA50 in the 1-hourly timeframe.
The MACD indicator: bearish divergence is visible in the 1-hourly timeframe.

Also, we see Moving Average bearish crossovers: AMA20 & AMA50 in the 2-hourly timeframe.
The Momentum indicator is back under zero in the 2-hourly timeframe.
Some of the technical indicators are also giving a Bullish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
USDCAD is now trading above its 100-hour SMA and above its 200-hour SMA simple moving averages.
• Loonie Bearish reversal seen below the 1.3931 mark.
• Short-term range appears to be Bearish.
• USDCAD continues to remain above the 1.3920 levels.
• Average true range ATR is indicating Less market volatility.

The next support is located at 1.3891 which is a Price 1 Standard Deviation Support.
USDCAD is now trading near to its Pivot levels of 1.3919 and is moving into a Bearish channel.
The price of USDCAD remains above its Classic support levels of 1.3910 and is now moving towards its next target of 1.3886 which is a Pivot Point 1st Support Point.

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Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

 

[FXOpen Trader]

USDJPY Technical Analysis – 31st OCT, 2024
USDJPY – Bearish Price Crossover Pattern

USDJPY was unable to continue its Bullish momentum and after touching a high of 153.56 the prices started to decline against the United States Dollar today in the US Trading session.
We can see Bearish price crossover with Moving Average 20 in the 15-minutes timeframe.
Als owe see Bearish price crossover with adaptative moving average 20 in the 15-minutes timeframe.
The Support of channel is broken in the 1-hourly timeframe.
We can see Ichimoku: price is under the cloud in the 2-hourly timeframe.
Some of the technical indicators are also giving a Bullish to Neutral stance in the markets which indicates the presence of the Consolidation wave in the markets.
USDJPY is now trading below its 100-hour SMA and above its 200-hour SMA simple moving averages.
• Yen Bearish reversal seen below the 153.56 mark.
• Short-term range appears to be Bearish.
• USDJPY continues to remain above the 152.20 levels.
• Average true range ATR is indicating Less market volatility.

The next support is located at 152.23 which is a 14-3 Day Raw Stochastic at 70%.
USDJPY is now trading near to its Pivot levels of 152.48 and is moving into a Bearish channel.
The price of USDJPY remains above its Classic support levels of 152.12 and is now moving towards its next target of 151.13 which is a 14-3 Day Raw Stochastic at 50%.

#fxopen

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog