On Wednesday, the following strong economic news came out:
- 9:30 PM London time. GBP, the business activity index in the services for September at 53.2.
- 1:15 PM London time. USD, the change in the total number of non-agricultural workers in September from the ADP, expected at 125K and the previous value is 237K;
- 3:00 PM London time. USD, September business activity index in the non-manufacturing sector (PMI) from ISM, expected at 55.5 and the previous value is 55.3.
- 3:30 PM London time. USD, stocks of crude oil are expected for -0.467M, the previous value is -1.846M;
- 6:15 PM London time. EUR, speech by the ECB head Draghi;
- 8:15 PM London time. USD, the speech of Fed Chairman Yellen.
EUR / USD pair
Trend analysis (Figure 1).
On Tuesday, the market began to move upwards, breaking off the recessionary Fibonacci level of 23.6%. On Wednesday, the market may continue to move. The complex analysis will more accurately tell where the price will go.
Fig. 1 (daily chart).
Indicator analysis on the daily schedule (Figure 2).
The system of ADX indicators (Figure 2).
On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved down. In this case, the trend should be determined by the trend type indicators.
MACD Indicator (period 5/8/13).
The linear part of the MACD indicator.
Fast line (signal) - a line of white color.
The slow line (main line) is the blue line.
The result of the MACD indicator is an upward trend.
MACD histogram indicator.
Histogram - columns of black color.
The result of the MACD histogram indicator is an upward trend.
Overall: the MACD indicator on the daily chart shows an upward trend.
Middle lines of the EMA.
The daily chart uses the following midlines.
1 middle EMA line - color white (first shadow).
5 the middle line of the EMA - the color is red (the first shadow).
8 middle EMA line - the color is blue (the first shadow and trend).
13 the middle line of the EMA - the color is yellow (trend).
21 middle EMA line - the color is brown (trend).
At the last run 8, the middle EMA line (blue) moved down, which is below the 13th EMA midline (yellow) - the signal of the bottom work.
21, the middle EMA line is moving down, which is above the 13th EMA midline, strengthening the lower work signals.
The bottom line: the EMA middle line system on the daily chart shows a downward trend.
The probability distribution of the indicators are as follows:
the average EMA lines are 24% down; ;
The MACD indicator (linear part) - 38% up;
The MACD indicator (histogram) is 38% higher.
The result of the indicator analysis: the price will have an upward trend.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up (red dotted line);
- volumes - upwards;
- candle analysis - neutral;
- trend analysis - down;
- Bollinger lines - up;
- Weekly schedule - up.
General conclusion.
On Wednesday, the market may continue to move.
GBP / USD Pair
Trend analysis (Figure 1).
On Tuesday, the technical analysis of the market appeared to be moving down. On Wednesday, there is a possibility for the lower trading to continue. The complex analysis will more accurately tell where the price will go.
Fig. 1 (daily chart).
Indicator analysis on the daily schedule (Figure 2).
The system of ADX indicators (Figure 2).
On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved up. In this case, the trend should be determined by the trend type indicators.
MACD Indicator (period 5/8/13).
The linear part of the MACD indicator.
Fast line (signal) - a line of white color.
The slow line (main line) is the blue line.
The result for the linear part of the MACD indicator is a downward trend.
MACD Histogram indicator
Histogram - columns of black color.
The result of the MACD histogram indicator is a downward trend.Overall: the MACD indicator on the daily chart shows a downward trend.
Middle lines of the EMA
The daily chart uses the following midlines.
1 middle EMA line - color white (first shadow).
5 the middle line of the EMA - the color is red (the first shadow).
8 middle EMA line - the color is blue (the first shadow and trend).
13 the middle line of the EMA - the color is yellow (trend).
21 middle EMA line - the color is brown (trend).
At the last run 8, the middle EMA line (blue) moved down and is above the 13th EMA midline (yellow) - the signal of the top work.
21, the middle EMA line, moving down, which is below the 13th EMA midline, strengthening the signals of the upper work.
The bottom line: the EMA middle line system on the daily chart gives an upward trend.The probability distribution of the indicators are as follows:
the average EMA lines are 24% up;
The MACD indicator (linear part) - 38% down;
The MACD indicator (histogram) is 38% down.
The result of the indicator analysis: the price will have a downward trend.
Fig. 2 (daily chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - up;
- volumes - upwards;
- candlestick analysis - up;
- trend analysis - down;
- Bollinger lines - down;
- Weekly schedule - down.
General conclusion.
On Wednesday, the pair GBP / USD may move upwards.
