GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD has found a foothold above the Kijun-Sen line. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the lower boundary of the Cloud at 1.2255 is expected, followed by a rise to 1.2425. A signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1.2205, which will mean a further decline to 1.2110. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price finding a foothold above 1.2315.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is pushing off the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 0.5895 is expected, followed by a decline to 0.5755. An additional signal confirming the decline will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 0.5965, which will mean further growth to 0.6055.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD is correcting within a Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.3780 is expected, followed by a rise to 1.3925. An additional signal confirming the rise will be a rebound from the lower boundary of the Triangle pattern. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1.3720, which will mean a further decline to 1.3630. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the Triangle pattern with the price finding a foothold above 1.3855.
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EUR/USD stays pressured below 1.0900 amid risk aversion
EUR/USD remains under pressure below 1.0900 in the European session on Wednesday. The pair faces downward pressure due to a renewed US Dollar upswing, as risk sentiment falters on China concerns. Dovish ECB expectations also undermine the pair.
GBP/USD remains heavy near 1.3000 after soft UK inflation data
GBP/USD stays under bearish pressure near 1.3000 in the European session. The data from the UK showed that the annual CPI inflation declined to 1.7% in September from 2.2% in August, weighing heavily on the Pound Sterling.
Gold price advances to three-week top amid risk-off mood, bullish USD might cap gains
Gold price scales higher for the second straight day on Wednesday – also marking the fourth day of a positive move in the previous five – and climbs a three-week high, around the $2,677-$2,678 region heading into the European session.
Bitcoin holds onto recent gains, with $70,000 in sight
Bitcoin’s price stabilizes around $67,000 on Wednesday after rallying and breaking above a key resistance barrier on Tuesday. The rise in BTC comes after US Spot ETFs recorded a second straight day of inflows of over $373 million on Tuesday.
British inflation dips to 1.7% in September
And speaking of inflation and Europe, inflation in Britain not only fell below 2% in September but came in significantly lower than expected (1.7%y-o-y vs 1.9% expected).
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