› Market review, October 9 - 13, 2017

Market review, October 9 - 13, 2017

Gold

Stable situation on the world stage made gold to entered a long descending channel. And on Friday, October 6, gold touched two-month lows, jumped back and went up by 0.46% over the last hours of the trading session.
But the longer-term indicators analysis shows that the situation is rather unambiguous - the continuation of the fall in the price of precious metal.
We foresee the continuation of a small correction and further decrease to lower levels of support.
In addition, most analysts say a high probability of continued growth in the dollar, which, as is known, will have a beneficial effect on gold.
And in the near future, we are considering a decline to the levels of $ 1,250 and $ 1,254.


Market review, October 9 - 13, 2017


GBP

This week meant for the British pound complete fall.
The main factors of the fall were negotiations on Brexit, which didn’t go according to the plan of the British government. The conflict between Prime Minister Theresa May and Minister of the foreign affairs Boris Johnson on Britain's exit from the Eurozone forced investors to doubt the stability of the pound, which led to a further drop in the currency.
Experts predict further decline in the British currency next week.
For the GBPCHF, the resistance line can consider the level of 1.25000
For GBPUSD, the lower level is at the level of 1.29055


Market review, October 9 - 13, 2017


Apple

Apple has always been famous for its technical innovations and innovative look at electronics.
Of course, after the CEO change, more and more consumers lose faith in the product of this company, saying that "Apple is not the same as it used to be" The facts say that the price of the product is growing every time, without causing the previous rush of buyers and long queues.
In addition, on Friday, on pre-market trade, shares fell 0.21% due to news that the batteries of the iPhone 8 Plus, whose sales began only recently, are exploding.
Such kind of news can not but affect the value of the product- most will remember the similar situation with Samsung batteries.
Did the techno giant decide to buy batteries from his main competitor? We leave this question unanswered.
And we will consider the immediate prospects of the fluctuation in the price of Apple shares.
When there are repeated statements about the explosion of batteries - there is a high probability of continuing the downward movement of shares up to the level of $ 150.
Technical analysis give neutral data concerning both short-term and long-term trade. Incentives for buying are based on moving average data with a period of 100 and 200.
The most accurate will be to wait for the further development of the situation with an explosive battery and therefore already open deals for purchase from lower levels.


Market review, October 9 - 13, 2017


EUR / USD

As we predicted in the previous reviews, USD grew all week, and closed above the key level 1.1700.
Last week was full of news, the Catalan referendum mixed cards, and the beginning of the previous week the euro was falling, but in anticipation of the release of the report on the last meeting of the ECB heads and in the hope of possible plans to close the QE program, and a possible increase in the interest rate, the euro recovered losses by the middle of the week.
But to the great regret of those who held long positions, the ECB heads decided not to undertake anything with the quantitative easing program so as not to interfere with the actively recovering inflation to the 2% mark.
This decision made it clear to market participants that in 2017 it is not likely to expect an increase of interest rate, and after which traders began to close long positions, which led to the continuation of the downtrend, and to the further strengthening of the US dollar.
At the end of the week, conflicting data on the NFP report and the unemployment report came out.
Which led to the further strengthening of the USD.
On the one hand, the failure of the data - 31k of new jobs from the planned 90k should have weakened the dollar, but it is necessary to take account of the latest cataclysms in the US that occurred in September.
The US economy focused on correcting the effects of hurricanes, which had a clear impact on unemployment rates.
From the point of view of technical analysis, there is a repeated attempt to pass the psychological level of 1.1700, and a high probability of breaking through the level this week. Also, it is worth paying attention to the corrections/


Market review, October 9 - 13, 2017


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