S&P 500 Uninspired by Fiscal Talks Ahead of Final Presidential Debate

The S&P 500 may cautiously rise if investors believe a breakthrough in fiscal talks could be made before the November 3 election. Markets now brace for the final presidential debate.
Source: News FX

USD/JPY Price Outlook: Dollar-Yen Undermined by Stimulus Hopes

USD/JPY price action has oscillated lower following another rejection of its 50-day simple moving average in the wake of renewed optimism for a fiscal stimulus deal before the November 2020 election.
Source: News FX

Silver Price Forecast: XAG/USD Stalls in Anticipation of Stimulus Outcome

Renewed hopes of additional US stimulus measures increase the demand for Silver
Source: News FX

IG Client Sentiment Data Sending Bearish Signals for USD/JPY, AUD/USD, GBP/USD | Webinar

Many asset markets are trading within narrow ranges amid concerns about US stimulus, the US election and coronavirus but positioning data still suggest moves on the way for several FX pairs.
Source: News FX

EUR/USD Eyes One-Month High, SURE Bonds Garner Huge Demand

EUR/USD is back above 1.1800 and eyeing a run at the one-month high as the US dollar basket (DXY) slips back towards important support around 93.00.
Source: News FX

USDCHF analysis for 20.10.2020

Trade Balance came lower than expected in Switzerland. FOMC members will give their speeches in the US.
The support rests at 0.90430 with resistance at 0.91140 which both lines are below the weekly pivot point at 0.91340. The EMA of 10 is moving with bearish bias in the descendant channel and it is located below the EMA of 100 and the EMA of 200. The RSI is moving in oversold area, the MACD line is below the signal line in the negative territory and the Stochastic is moving in low ranges. The ADX is showing sell signal. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a downward trend.
Short positions are recommended towards 0.90400.

usdchf
Source: fxglory

USDJPY analysis for 20.10.2020

Prelim Machine Tool Orders was released in Japan and the US will publish Building Permits and Housing Starts.
The support rests at 105.320 with resistance at 105.690 which the weekly pivot point at 105.420 is located in between the lines. The EMA of 10 is moving with bullish bias in the horizontal channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving above level 50, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing buy signals.
USDJPY is fluctuating within the horizontal channel. The bullish pressure is pushing the price towards 105.800.

usdjpy
Source: fxglory

Australian Dollar Forecast: AUD/USD, AUD/CAD Breaking Down

Dovish RBA reiterates more monetary stimulus is on the way. Australian Dollar pressured.
Source: News FX

EURUSD analysis for 20.10.2020

Yesterday European stocks declined along with the US equities.
The support rests at 1.17570 with resistance at 1.17900 which both lines are above the weekly pivot point at 1.17450. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving above level 50, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
EURUSD is trying to climb within Andrew’s pitchfork. Buyers can target 1.17950.

eurusd
Source: fxglory

British Pound (GBP) Latest: GBP/USD Range Trading to Persist Amid Brexit Impasse

GBP/USD continues to trade narrowly between the October 12 high at 1.3082 and the 1.2861 lows touched on October 14 and 16. Sideways trading will likely persist while EU-UK Brexit talks remain on h…
Source: News FX