Daily Forex News

[xtreamforex]

Technical Analysis of EUR/USD

EUR/USD Price Puts the Gains at Level 61.8% Fib Again

The EUR/USD pairs seem on bulls that having a tough time that breaching a key Fibonacci to the hurdle for the fourth straight trading day.

The pair is currently trading at the largely unchanged on the day near at the level 1.1850 that have faced the rejection at the level 1.1859. The level will mark the level 61.8% Fibonacci hurdle this Wednesday.

The Fibonacci retracement level marks at the level of 61.8% to sell-off at the level of 1.2011 to 1.1612. If we have a look at the daily chart of the relative strength index the MACD histogram is biased bullish low at the level 1.1612. The Pair was previously closed at level 1.1859.

Support Level: 1.1831, 1.1829, 1.1825
Resistance Level: 1.1838, 1.1841, 1.1844

USD/CAD Price Shows the Better Bid at the Falling Trendline

The Canadian dollar is losing ground close by the losses in oil and pushing USD/CAD higher.

The currency pair is at present trading close to the level 1.3155, which is the opposite of the trendline associating Sept. 30 and Oct.15 highs. Be that as it may, a move over the askew obstruction line may not be sufficient to tempt more grounded chart driven buying. That is on the grounds that few key opposition levels are lined over the trendline obstacle.

For example, the 50-day moving normal (MA) is situated at the level 1.3195, and a lower high is seen at 1.3260 (Oct. 15 high). Every day close over the lower high is expected to confirm a bullish inversion. Then again, the Oct.21 low of 1.3081 is the level to beat for the sellers. The Pair was previously closed at level 1.3121.

Support Level: 1.3149,1.3144, 1.3140
Resistance Level: 1.3158,1.3162, 1.3167

[xtreamforex]

Impact of US Presidential Election on US Economy or Financial Markets

As we all know that the there are only a few days left for the US Presidential Election and the traders all around the world are not excited to win the race of the incumbent President Donald triumph of the Former Vice President Joe Biden.

Now all the traders now wondering what is the impact the US election might have on the US economy and the financial markets to trade in various Trading Products in the general.

Election Seems More Positive For Equities

If we looking back to the US President that will see the strong hand for the economy that is currently not the case for post-Corona Lockdown.

Look at the S&P 500 that will see on the positive at the higher leverage 9.6% compared to the 4.8% within the new president office. In case if we ignoring the aspect the strong economy is also driving the US equities at a higher level. What is unquestionably intriguing here is that a re-appointment of the US president brought about a positive value execution throughout the following year in over 70% of the cases (5 out of 7). The negative exhibitions under Eisenhower (- 14.3%/1956/1957) and Nixon (- 17.4%/1972/1973) were the main two events that were trailed by two downturns and were presumably foreseen in US values.

Reactions of Markets In US Presidential Election

Stocks

Markets ignore uncertainty, and truly the observation has been that another president may bring arrangements that could be unsafe for stocks. This occurred in 2016 when traders were sure that a Trump administration would start a market breakdown.

However, we are presently observing that equivalent dread drag in as individuals think about a Biden administration and the potential uncertainty it could cause. Biden is transparently more left-inclining, and his arrangements are required to be outfitted towards human needs as opposed to those of speculators and traders.

This supposition isn't helped by recommendations that Biden would invert Trump's tax reductions, and almost certainly, markets will ascend close by the possibly expanded possibility of a Trump triumph as we approach the political race.

USD

The estimation of a currency should mirror the soundness of an economy and its future possibilities. Many are anticipating that Biden should be less centered around the business sectors than his Republican adversary, so the dollar could debilitate in case of a Biden triumph.

Notwithstanding, this impact could be counterbalanced if Biden can improve relations between the US and China following quite a while of market tension. In this situation, it would be the Chinese yuan which may profit the most, with the exchange war having started enormous potential gain for USD/CNH.

Remember that if the more extensive business sectors fall on a Biden triumph including US stocks and files the dollar would probably prepare in the present moment to mirror a danger of the move as traders go to USD.

Gold

The possibility of a more broad financial strategy under Biden, and from an administration which is glad to leave on significant spending programs, could give a lift to valuable metals.

There's advice here as well, on the grounds that in the past valuable metals have additionally followed similar examples as the forex markets during seasons of emergency. Thus, any breakdown in value showcases that may originate from a change at the White House could drag gold lower in the quick time frame.

Furthermore, while Trump has, at last, observed the sort of improvement he would have sought after, a Biden win could bring about a more considerable upgrade bundle if the Democrats increase traction in Congress.

What do the Traders expect to See During the US Election?

All US markets will in general experience expanded unpredictability in the approach to an official political race, including USD forex sets, files, and items. That is on the grounds that numerous investments will try to secure situations before the outcome is reported using surveys to measure public conclusion. The point is to exploit the value moves that happen when the nation's political heading is confirmed.

It's likewise essential to recollect that the Covid pandemic is probably going to make critical unpredictability over the political decision time frame. A spike in cases could see US records and the dollar fall in esteem, as speculators move to cost in a decrease in shopper spending and financial yield. Then again, a decrease in the number of cases could see both files and the dollar ascend in esteem. Whichever way advertises move, you can be prepared to exploit a Best Forex Brokers Trading account.

[xtreamforex]

Technical Analysis of AUD USD or GBP USD

AUD/USD Price Falls Back to Level at 0.70 to Biased Bearish

The AUD/USD seems to the sessions low to the early trading session hours that faced the rejection to the level by 0.7025 to the release china Manufacturing PMI.

The AUD/USD pair daily chart indicators suggested the risk to the downside. If you identify the trend changes and trend strength that producing the deeper to bar below the zero lines. Its daily chart shows the lower highs and the lower setup that seems on the daily chart that indicates the bearish control to the deeper support levels 0.6921 and the 0.68 to the 200 day Simple Moving Average. The AUD/USD pair was previously close at the level of 0.726.

Support Level: S1 0.6992 S2 0.6984 S3 0.6972
Resistance Level: R1 0.7013 R2 0.7024 R3 0.7033

GBP/USD Pair Shows on Downside to Risks Skewed

The daily chart of the GBP/USD pair will be crossed below zero and indicating a bullish trend to change. The 5 and the 10-day simple moving average is trending to the bearish setup.

The GBP/USD pair relative strength index seems below the level by 50 to the negative reading.

The GBP/USD risks are falling to the 100-day to the simple moving average that located to the level by 1.2876. According to the press time the pair is trading at the level 1.2930 that representing the gain to the day with the trendline that rising to the lows last week. The pair were previously closed at level 1.2941.

Support Level: S1 1.2894 S2 1.2882 S3 1.2866
Resistance Level: R1 1.2921 R2 1.2938 R3 1.2949

[xtreamforex]

Technical Analysis on Gold & Silver

Gold Price Seems the Uptrend at Level $19,00 Mixed US Presidential Election Polls

The Gold Prices remain depressed to the early Asian session that rises to the two-week top at the level of $1,900 on Wednesday. On the other hand, you will need the US Dollar weakness that favored the yellow metal to the challenges of the risks on the 2020 Presidential election.

The S&P 500 futures drop to the level by 0.17% to the 1.0% initial gains to the. The SMA 50 day keeps restricting the golds short term upside in which you purchase the sellers that breaks the level $1,894 that comprising the 100-day SMA. The pair is previously closed at level 1,909.19.

Support Level: S1 1895.86 S2 1892.17 S3 1889.46
Resistance Level: R1 1902.26 R2 1904.97 R3 1908.66

Silver Price XAG/USD Rising the Channel US Election Polls To Probe Risks
Silver Bounces back above at the immediate level to the bullish channel that picking up the bids near to the level by $24.17% upto the 0.16% intraday during the early Wednesday.

Technically the 200 HMA and the lower line that stated the channel around at the level by $24.00 will see the previous resistance at the level $23.80 challenges to the silver bears.

Meanwhile, $24.50 can offer immediate resistance to the bullion ahead of probing the channel’s upper line near the level of $24.62.

[xtreamforex]

Technical Analysis on GBP/USD and AUD/USD

GBP/USD Pair Seems To the Resistance Below 1.3200 With Two Week Old Flirts

The GBP/USD pair will stay positive at the level by 1.3175 up by 0.15% intraday high during this Monday. The Early Asian session will be extended at the level by 1.3182 with the price-positive RSI Conditions.

During the Quotes, the pair further go up with the past 1.3200 in the high near level high by 1.3050 that restricts the pair with the pullbacks that move before the GBP/USD seller towards the 200-bar SMA Level of 1.2962.

During the statement's further potential gain past-1.3200, the August 19 high close to 1.3270 can offer a middle-end toward the north-run towards September's tower encompassing 1.3485.

AUD/USD Pair Aussie the 7 weeks High

AUD/USD broke higher from an hourly chart setting plan early Monday and timed a high of the level 0.7298 a couple of moments before press time. That level was most recently seen on Sept. 21.

The hourly chart breakout demonstrates a resumption of the convention from the Nov. 2 low of 0.6991 and has made the ways for the Sept. 16 high at the level 0.7345.

The over 50 day by day graph relative quality record and the positive MACD histogram likewise favor proceeded with gains in the Aussie dollar.

Acknowledgment below the hourly chart backing of 0.7239 would prematurely end the prompt bullish viewpoint.

[xtreamforex]

Technical Analysis on EUR USD or GBP USD

EUR/USD Pair Seems Upside Breakout Backs to Head and Shoulder Pattern

The EUR/USD pair seems to the front foot to the near at the level 1.1850 to the starting of the week to extending the third straight on Monday.

The Bullish is a crossover to the 50 hourly moving average that cutting to the level 100HMA that add below to the bullish move.

US-China trade war acceleration through the Trump organization's 'intermediary' period before group Biden takes over in late January may be another headwind. The active President moved to boycott US interest in Chinese military-connected firms. Beijing typically shuddered for all to hear. Another round of blow for blow countermeasures may follow. Taking all things together, this implies that the Greenback may yet recover a sanctuary offers.

In front of the 1.1900 level, the bulls are probably going to confront hardened opposition at 1.1860, November 5 high.

The conjunction of the 200-HMA and example neck area at the level by 1.1800 is the level to beat for the bears.

GBP/USD Scales Drops the Fib Hurdle Level to the 61.8%

GBP/USD is right now trading at the level 1.3217, speaking to a 0.20% increase on the day, having finished a week ago above 1.2174 the 61.8% Fibonacci retracement of the auction from the Aug. 31 high of 1.3483 to Sept. 23 low of 1.2675.

The break over the Fibonacci obstacle is generally viewed as bullish. For this situation, notwithstanding, the most recent week's high of 1.3313 is the level to beat for the bulls. A move above 1.3313 would refute purchaser weariness motioned by the long upper wick appended to the earlier week's light and open the entryways to the level 1.3483.

Then again, a move below the Asian meeting low of level 1.3174 would approve the buyer’s weakness monitored by the week by week light and move risk for a drop to 1.3108 (5-week basic moving averages)

[xtreamforex]

Technical Analysis on XAU/USD or XAG/USD

XAU/USD is Testing the Critical Support at the $1860

The Technical Confluences Indicator shows that the XAU/USD pair is shielding the solid at the level $1877 uphold, which is the assembly of the earlier day low, Fibonacci 23.6% one-week and one-month.

Acknowledgment below the latter is probably going to trigger a sharp drop towards a minor cap adjusted at $1868, the turning point one-day S2.

The following basic help of the earlier month low of the level $1860 will be on the trader’s radars. On the other side, gold is probably going to confront a group of obstruction levels in the event that it recovers some ground towards the applicable potential gain obstacle at $1888, which is the convergence of the SMA50 one-hour and Fibonacci 38.2% one-month.

Further north, the rotate point one-day R1 at the level $1891 will challenge the upward journey.

Nonetheless, $1894 will be a difficult one to figure out for the bulls, as it is the conjunction of the earlier day high, SMA100 four-hour and Fibonacci 38.2% one-week.


XAG/USD Seems Seller Below at the level $24.40

Silver wobbles around to the level of $24.50 in the midst of Wednesday's Asian meeting. In doing such, the white metal keeps the most recent trading range somewhere in the range of $24.45 and $24.52. The bullion prior ricocheted off an intersection of 21-day and 100-day SMA combined with an upward slanting pattern line from October 29.

Thus, intraday buyers may focus on the $25.00 limit in front of testing the expressed opposition line close to $25.65. Likewise prone to challenge the silver bulls is the month to month pinnacle of $26.00.

Unexpectedly, a drawback break of $24.40 can rapidly drag the statement towards November 09 low close of $23.55 prior to coordinating silver traders toward the month to month low around $23.20 and the $23.00 round-figure.

[xtreamforex]

Technical Analysis on EUR USD or S&P 500

EUR/USD Pair Breaks the Monthly to Direct Risk Bears at Level 1.1800

EUR/USD pair was consolidated near at the day low currently down at the level 0.13% on the day to 1.1840 on this early Thursday. The pair will be traced to the break on the upward to the sloping trend line.

The RSI condition of the pair will be clear the break to the previous support line and the EUR/USD is the eye at the level by 1.1788 during the further declines.

For a situation where the danger off encourages the US dollar to invert the month to month misfortunes, the mid-October low close to 1.1690 and the month to month base encompassing 1.1600 could pick up the market's consideration.

On the other hand, a potential gain break of the help transformed into-opposition, at 1.1883 now, will be examined by the 1.1900 round-figure.

It should likewise be noticed that the even territory around 1.1920-25, involving highs set apart on September 10 thus far in November, turns into a difficult one to figure out for the EUR/USD buyers past-1.1900.

S&P 500 Price Seems the Bulls to Steam Below Time Highs

The S&P 500 Index is attempting to persuade on the potential gain as it runs out of force. Coming up next is a top-down examination of potential liquidity zones on the drawback should the market move into appropriation.

The week after week graph shows that the neck area of the W-development meets the 38.2% Fibonacci retracement of the week by week bullish motivation leg.

The four-hour chart shows that there is a conversion of a half mean inversion and earlier obstruction structure that would be relied upon to go about as help, in the region of the 21-hour moving normally.

While exchanging is responsive, not cautious, it does no wrong in having some foreknowledge and being ready for expected value activity.

In the accompanying investigation, the hourly conditions are less bullish with the value now underneath the 21-hour moving normal and testing the main layer of basic help.

A tear here will open possibilities for the drawback focusing on a tear of Tuesday's low to open a race to Friday's old record closing highs.

[xtreamforex]

Technical Analysis on EUR USD or AUD USD

EUR/USD Pair Shows the Bids to Triangle Around 1.1800

The EUR/USD pair rose to the level by 1.1860 on this Monday Session due to this major currency pairs trades inside the symmetrical triangle to the upside momentum to the 200 SMA.

The RSI conditions do not seem as overbought and oversold to the continuation of the recovery of the moves that can be expected.

EUR/USD buyers right now eye the support line of the expressed triangle, at 1.1881 now, while focusing to invigorate the month to month top containing 1.1920.

In the pattern, the example's support line at the level by 1.1835 now, goes before a 200-bar SMA level of 1.1789 to test the momentary drawback. Additionally going about as support is the November 04 high of the level by 1.1770.

AUD/USD Pair Trapped to the Ascending Triangle

AUD/USD is currently trading at the level above 0.7310, speaking to a 0.16% addition on the day.

While the pair is blazing green, it is yet to leave a fourteen-day climbing triangle, as observed on the 4-hour outline. All things considered, the quick inclination stays equal.

A break over the upper finish of the triangle, as of now at the level 0.7340, would infer a continuation of the convention from the Nov. 2 low of 0.6991 and open the entryways for 0.7413 (Sept. 1 high).

Then again, a triangle breakdown would infer a transient bearish inversion and move risk for a drop to 0.6991.

A bullish breakout takes a look at press time, as the value markets are cheering possibilities of an early rollout of Covid antibodies in the US.

[xtreamforex]

Technical Analysis on Gold & Silver

Gold Price Risks to Falling to 200 day Level

The Gold Price is going under the long-held support because the gold now risks falling to the 200- day Simple Moving Average. The breakdown is sponsored by an underneath 50 or bearish perusing on the 14-day Relative Strength Index (RSI) and a negative MACD histogram. The 5-and 10-day SMAs are moving south, demonstrating a bearish arrangement, as is the bearish hybrid of the 50-and 100-day SMAs.

The yellow metal closed below $1,850 on Monday, disregarding the level, which went about as a solid floor on various occasions since September.

Thusly, the drawn-out SMA of the level by $1,796 could before long become possibly the most important factor. The yellow metal is right now trading at a four-month low of $1,824 per ounce, speaking to a level 0.68% drop on the day.

XAG/USD Price Cling to the 100 Day EMA to Three Week Low

Silver costs backtrack misfortunes from the multi-day low at the level of $23.42 while taking rounds to the level of $23.60 during the early Tuesday's Asian meeting. The white metal dropped to the most minimal since November 04 in the wake of denoting various pullbacks from 50-day EMA protections during the most recent four days.

Not just the ware's powerlessness to cross the key EMA, yet MACD conditions additionally favor the silver bears to eye a rising pattern line from September 24, at the level $23.23 now. However, a continued drawback break below the 100-day EMA level of $23.60 gets vital for that.

For a situation where the bullion remains frail past-$23.23, the 23.00 and the 22.00 round-figures can offer middle of the road stops to the drawback focusing on 200-day EMA and September's base, separately around $21.75 and $21.65.

Then again, a corrective pullback needs to defeat the 50-day EMA level of $24.35 to test the mid-month top near $25.10.

Nonetheless, any further potential gain past-$25.10 will help the silver bulls with testing the month-to-month top close $25.85.