10/18/2022
🔔MARKET BELLS WITH IMPORTANT UPDATES - 18 OCTOBER 2022🔔
🇪🇺/🇺🇸EUR/USD
EUR/USD: Neutral triangle advocates more consolidation ahead
The EUR/USD pair has dropped marginally after printing a day’s high at 0.9853 in the Tokyo session. After a juggernaut rally, the shared currency bulls are facing a corrective move as the US dollar index (DXY) has attempted a rebound move.
🇬🇧/🇺🇸GBP/USD
GBP/USD buyers attack 1.1400 on chatters about UK politics, BOE’s QT
GBP/USD takes the bids to refresh intraday high above 1.1400 heading into early European trading. The pair takes clues from the market’s latest concerns surrounding the Bank of England’s (BOE) next move, as well as the UK’s haywire political conditions.
🇺🇸/🇯🇵USD/JPY
USD/JPY: Buyers keep the reins at 32-year high near 149.00
USD/JPY is keeping its range around 149.00, the highest level in 32 years. The US dollar recovery combined with firmer risk sentiment pushes the pair northwards despite the looming risks of a Japanese FX market intervention and weaker Treasury yields.
🇦🇺/🇺🇸AUD/USD
AUD/USD recaptures 0.6300 as US dollar recovery fizzles
AUD/USD is jumping back above 0.6300, as the US dollar recovery loses steam amid risk-on Asian trading this Tuesday. The aussie remains underpinned by hawkish comments from the RBA policymakers and minutes.
🇳🇿/🇺🇸NZD/USD
NZD/USD: Bears eye a break of 0.5650 to test 0.5620 and below
A new day and fresh prospects for NZD/USD. The pair travelled in three levels of rising on Monday and has extended the rally in Asia on the back of the CPI data, falling within touching distance of Friday's highs around 0.5680.
🇺🇸/🇨🇦USD/CAD
USD/CAD pares the biggest daily loss in two weeks above 1.3700 as US dollar rebounds, crude oil drops
USD/CAD refreshes intraday top around 1.3740 as markets reassess the week-start optimism amid a lack of data/events, as well as fears of intervention by major central banks.
🥇XAU/USD
Gold bulls aim for $1,680
Gold price extends the week-start recovery towards a short-term key hurdle. Lack of major directives facilitates the extension of the previous trend even as central banks, recession woes test XAU/USD.
🛢OIL
WTI Price Analysis: Bounces off key support confluence around $84.50
WTI crude oil prices keep recovering from the $84.50 support, around $84.90 during Tuesday’s Asian session. In doing so, the black gold snaps a four-week downtrend while bouncing off the convergence of a 100-SMA and a two-week-old descending trend line
