News and Market Analysis

Todays Directional Views: USD Weaker
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USD weak

USD weaker against other Majors. Bitcoin continues it’s up-trend

What currencies are set to rebound?

USD weaker against it’s counterparts. Here are some of today’s directional views in currencies, crypto and Gold from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Subscribe to receive our daily newsletter.

The U.S. dollar dropped 0.37pt to 93.093.

EUR/USD rose 52pips to 1.1739. In Europe, September Markit Manufacturing PMI was released at 58.7 vs 60.4 expected for the eurozone, at 58.5 vs 61.4 expected for Germany and at 55.2 vs 57.0 expected for France. Also, the September Markit Services PMI was released at 56.3 vs 58.5 expected for the eurozone, at 56.0 vs 60.3 expected for Germany and at 56.0 vs 56.3 expected for France. Also, France’s September Manufacturing Confidence Index was released at 112 vs 109 expected.

GBP/USD increased 99pips to 1.3721. In the U.K., the Markit Manufacturing PMI for September was posted at 56.3 vs 59.0 and the Markit Services PMI was announced at 54.6 vs 55.0 expected. Separately, the Bank of England kept its benchmark rate unchanged at 0.10%.

AUD/USD gained 51pips to 0.7298.

USD/JPY climbed 56pips to 110.34

USD/CHF lost 6pips to 0.9251 and USD/CAD skidded 111pips to 1.2661.

Bitcoin traded higher to $44635 while Ethereum increased to $3135.


Bitcoin / Dollar intraday: the upside prevails as long as 42480 is support

Our pivot point is at 42480.

Our preference:
The upside prevails as long as 43584 is support.
Alternative scenario:
Below 43584, expect 42260 and 41472.
Comment:
The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 44085 and 43885).
Analyst Views Chart

AUD/USD intraday: as long as 0.7278 is support look for 0.7350

Our pivot point is at 0.7278.

Our preference:
as long as 0.7278 is support look for 0.7350
Alternative scenario:
The downside breakout of 0.7278 would call for 0.7252 and 0.7236
Comment:
The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.7297 and 0.7266).
Analyst Views Chart

Gold intraday: the downside prevails as long as 1758.50 is resistance

Our pivot point stands at 1777.00.

Our preference:
the downside prevails as long as 1758.50 is resistance
Alternative scenario:
Above 1758.50, look for 1769 and 1775.50
Comment:
The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Gold is trading under both its 20 and 50 period moving average (respectively at 1757.20 and 1762.80).
Analyst Views Chart

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