EUR/USD: change of trend in the pair
The single currency of the EU is under the influence of contradictory factors, trading at 1.0020. The EUR/USD trading instrument is set to recover the losses caused by the moderate decline earlier, which interrupted the upward dynamics of the last three sessions and did not allow it to retain the local high of September 13.
The negative factor was the correction impulse in the market. Investors expect the release of macroeconomic data, announced for October inflation today, which can affect the mood among the US Federal Reserve officials in further tightening of monetary policy, because the dynamics of consumer prices is the key reason for the rapid strengthening of the interest rate. Economists' current expectations suggest the rate will soon decline to 8.0% from 8.2% for the year and raise the pace to 0.6% from 0.4% for the month.
- Resistance levels: 1.0050, 1.0100, 1.0150, 1.0200.
- Support levels: 1.0000, 0.9950, 0.9900, 0.9850.
USD/CHF: the "bears" hold an advantage over the USD
During the Asian trading session the currency pair USD/CHF traded in moderate decline, under the pressure of the "bears", which gained an advantage last Friday amid mixed U.S. labor market statistics, now has consolidated at 0.9825.
Today the market participants are eager to wait for the key macroeconomic indicators publication in the US on the Consumer Goods and Services Price Index, which analysts estimate as a strong gain of 0.6% from 0.4% monthly figure, which can influence the US FRS policy on the key indicator growth rate, which might be adjusted with smaller increments. According to New York Fed President John Williams, the long-term outlook for inflation already looks more stable near the agency's 2.0% target.
- Resistance levels: 0.9840, 0.9876, 0.9914, 0.9948.
- Support levels: 0.9800, 0.9762, 0.9700, 0.9650.
Read more: USD/CHF: forex signals, online trading forecasts for today, characteristics & features
Silver signals
The price of the precious metal is rising moderately, once again intending to fix the price above the level of 21.00.
Negative influence on an asset has a news background from the People's Republic of China, where again noted slowdown of economic development. According to the latest data, the national inflation rate for October strengthened only by 0.1%, having risen by 0.3% a month earlier, while the annual consumer price index fell to 2.1% from 2.8%, with the market expectations of 2.4%.
The latest report from the CFTC (Commodity Futures Trading Commission) shows that net speculative positions in the metal last week were 1.5K to -0.1K from the previous period. Leaders, as before, remain "bearish" mood in industrial sphere, which balance amounted to 31.831 thousand to "bullish" 5.975 thousand. Within the limits of this week sellers strengthened level of transactions by 1.792 thousand, buyers liquidated 0.749 thousand.
- Resistance levels: 21.20, 21.59, 22.00, 22.40.
- Support levels: 20.86, 20.48, 20.00, 19.74.
Cryptocurrency market analysis
At the time of writing, ADA was showing rapid drawdowns, following the trend of the rest of the market. Recall, earlier, the asset quotes updated the annual low at 0.3585, but were able to win back positions a bit.
Digital assets are under pressure because of the situation with the exchange FTX, which is unable to continue servicing deposit accounts of customers, and the platform coin may repeat the fate of the token LUNA, which collapsed by 90% within a few daily sessions. On the eve of trying to reassure customers with promises that the crisis is close to a solution, because the largest exchange Binance has agreed to buy assets FTX, but the CEO of the company announced the failure of the transaction, provoking an increase in negative sentiment in the market. According to the official statement of the company, the fact of misuse of client assets FTX has a much larger scale than it was presented at the beginning of negotiations, for which reason it is not possible to save the site. In the meantime, the head of FTX has already requested additional funding from investors in the amount of $ 8.0 billion to ensure the withdrawal of funds from customer accounts. If additional funding is refused, the platform will be declared bankrupt, with all the relevant consequences.
- Resistance levels: 0.3906, 0.4394, 0.4670.
- Support levels: 0.3085, 0.2440.