The U.S. Dollar Index climbed to the highest level since October 14, rising 0.2% on the day to 98.35. The UOM (University of Michigan) consumer sentiment index placed 95.7 (preliminary) for November, up from 95.5 in the prior reading. European stocks were widely bearish, with the Stoxx Europe 600 dropping 0.3%. Germany's DAX slipped 0.5%, the U.K.'s FTSE 100 dropped 0.6%, while France's CAC was little changed. U.S. government bond prices were stable, as the benchmark 10-year Treasury yield was flat at 1.93%. The U.S. Dollar index found on the 3-weeks highs of 98.40, getting support from the United States and China trade uncertainty and Hong Kong political protest as well.   The stronger dollar leads the BTC/USD prices around 8,600 low on Friday. The sharp sell-off came after the BTC/USD violated the symmetric triangle pattern on the hourly chart. During the early Asian session, the BTC/USD has opened higher with a gap as investors seem to make profit-taking at the beginning of the new week. The BTC/USD extended its bearish turn on Thursday, hardly keeping support over $9,200 as market analysts stay sober regarding the future. The figures from Coin360 confirm BTC/USD is dropping 1.6% on the day, turning $9,250 after an unexpected dip observed markets bounce off $9,200. The BTC/USD violated the support level of 9,250, which lead its prices towards our forecasted level of 9,130 and even below this level to place a low of 9070. The BTC/USD soon recovered it's earlier losses to close the day around 9202. Support Resistance 8,586.2 9,134.95 8,354.76 9,452.26 7,806.01 10,001.01 Pivot Point 8,903.51 The BTC/USD has formed a bearish engulfing pattern on the hourly chart, which is suggesting the chances of a bearish reversal in the BTC/USD. The pair may continue to face resistance at 9110 levels along with support at 8850 and 8625 today. TThe euro lost 0.3% to $1.1018, and the British pound dropped 0.3% to $1.2772. Later today, the U.K. third-quarter GDP will be released (+1.1% on-year expected). The U.S. Dollar index found on the 3-weeks highs of 98.40, getting support from the United States and China trade uncertainty and Hong Kong political protest as well. So, the increased safe-haven buying for the U.S. dollar keeps a check on the major's bullish attempts. Moreover, the EUR/USD currency pair still weakened due to the Spanish general election outcome, reflecting a hung parliament a legislative stalemate with neither the left nor right having a majority. Support Resistance 1.1006 1.1045 1.0992 1.107 1.0953 1.1108 Pivot Point 1.1031 The EUR/USD is trading in the oversold zone in the 1.1024 area. The pair is very likely to continue sell-off until 1.1000 area, but before this, the single currency euro may show some correction until 1.1050 level today. Selling can be seen below the 1.1050 area today. The U.K. Office for National Statistics will report 3Q GDP (+1.1% on-year expected), September industrial production (+0.2% on month expected), manufacturing production (+0.1% on month expected) and trade balance (2B pounds deficit expected). The GBP/USD descending triangle pattern seems to have violated already at 1.2800 level. Technically, the GBP/USD should drop until 1.2725 if it continues to hold below 1.2820/30 level. A slight retracement can be seen before expecting a bearish trend in the GBP/USD today — besides the UK. Prelim GDP q/q figure will also remain in the highlights today. Besides, the market’s risk-sentiment has been more depressed, with most Asian stocks decreasing more than 1.0% caused by Hong Kong’s higher than 2.0% declines. While looking at the lack of the United States traders from markets, mainly due to the Veterans Day holiday, markets will keep their eyes on the British data from getting fresh clues. The preliminary version of the third quarter Gross Domestic Product (GDP), joined with Manufacturing and Industrial Production figures for the month of September also will in highlights. Support Resistance 1.2754 1.281 1.2732 1.2845 1.2676 1.2901 Pivot Point 1.2789 The GBP/USD descending triangle pattern seems to have violated already at 1.2800 level. Technically, the GBP/USD should drop until 1.2725 if it continues to hold below 1.2820/30 level. A slight retracement can be seen before expecting a bearish trend in the GBP/USD today. Besides, the UK. Prelim GDP q/q figure will also remain in the highlights today. All the best for today.

The U.S. Dollar Index kept trading within a tight range on Thursday, closing flat on the day at 97.95. The U.S. indices gained traction on Thursday, as market sentiment was boosted by reports that the U.S. and China would roll back the additional imports tariffs when the phase one trade deal is signed. The Dow Jones Industrial Average dropped 182 points (+0.7%) to 27,674, the S&P 500 added 8 points (+0.3%) to 3,085, and the Nasdaq Composite rose 23 points (+0.3%) to 8,434. Regarding U.S. economic data, initial jobless claims fell to 211,000 for the week ending Nov. 2 (215,000 estimated) from 219,000 in the prior week. Later today, economists expect the University of Michigan Consumer Sentiment Index to be flat on the month at 95.5 in November Economic Calendar   The BTC/USD extended its bearish turn on Thursday, hardly keeping support over $9,200 as market analysts stay sober regarding the future. The figures from Coin360 confirm BTC/USD is dropping 1.6% on the day, turning $9,250 after an unexpected dip observed markets bounce off $9,200. The BTC/USD violated the support level of 9,250, which lead its prices towards our forecasted level of 9,130 and even below this level to place a low of 9070. The BTC/USD soon recovered it's earlier losses to close the day around 9202. Support Resistance 9,157.11 9,627.45 8,889.01 9,829.69 8,418.67 10,300.03 Key Trading Level: 9,359.35 Today, the Bitcoin is likely to face resistance at 9250 levels, along with a support level of 9150. Below this, we can expect bitcoin to drop further until 9070 and 9010. The euro fell 0.1% to $1.1053. Official data showed that September German industrial production declined 0.6% on the month (-0.4% expected). The U.S. Treasury yields surged, and the greenback took a bullish turn during the recent risk-on sentiment. Therefore, the U.S. equity index futures were currently seen at the bullish track. But now, the investors may start doing profit-taking, and the U.S. treasury yields can drop, decreasing the greenback and supporting the EUR/USD pair recovered some bullish trend. Although, the certainty on trade deal slightly declined during the Asian trading hours mainly due to tension increased regarding delaying the signing on the agreement by the Trump Administration. Moreover, the buying tone in the risky assets declined due to the comments by White House adviser Peter Navarro that there is no deal at this time to remove any of existing tariffs because of a condition of the round-1 agreement and the final decision will happen by Trump. Support Resistance 1.1105 1.1158 1.1087 1.1194 1.1033 1.1247 Pivot Point 1.114 The EUR/USD has finally violated the significant support level of 1.1065, and now this level is likely to keep the pair in selling. Below this level, the EUR/USD can continue to drop until 1.1022 and 1.1000.   The British pound slid 0.3% to $1.2820. The Bank of England kept its benchmark rate unchanged at 0.75% as expected. However, two officials supported rates cut, the first votes for looser policy since 2016. At the same time, Governor Mark Carney, who voted to keep prices unchanged, admitted that risks to the U.K. economy are skewed toward the downside. The eyes will keep on the trade progress and greenback progress, whereas the United Kingdom news takes aback seat, with increasing dovish BOE expectations. Moreover, of note remains the UK Preliminary Michigan Consumer Sentiment data, which is scheduled to release at 1500 GMT, for recent greenback trades. The outlook as per the hourly chart will turn bullish if the falling trendline resistance at 1.2862 is violated. However, that seems doubtful, because the US treasury yields are increasing. Notably, the ten-year yield has risen from 1.80% to 1.97% - the highest level since August 1. Support Resistance 1.2862 1.2926 1.2822 1.2949 1.2758 1.3013 Key Trading Level: 1.2885 The Bank of England MPC members have shown a diversion in their sentiments as out of 9, two of their members voted for a rate cut. As a result, we have seen massive sell-off in the GBP/USD. Now, the Cable is consolidating above a stable support level of 1.2800 level. On the 4 hour chart, the GBP/USD has formed a descending triangle pattern while the 50 periods EMA is also suggesting chances of a bearish movement below the 1.2840 level. The violation of the 1.2800 level can trigger over 100 pips drop in the GBP/USD. Let's keep an eye on this crucial level. All the best for today.

The Dollar Index gained 0.1% on the day to 97.98. Federal Reserve Bank of Chicago President Charles Evans said, "the economy is in a good place now," after the central bank's third rate cut this year. Revived believes the world’s two biggest markets were taking measures towards settling their 16-month trade war have driven global stocks near to record highs and Wall Street to an all-time peak. That risk-on sentiment is keeping the greenback supported. The dollar index seems to place its initial monthly loss since June. However, it is still bullish around 2% year-to-date. Forex traders have bought into the confidence and cut their bullish positions on the U.S. dollar, which is why we see a slightly bearish trend in the U.S. dollar lately. The BTC/USD hasn't changed much since yesterday as it continues to trade with in the same technical ranges. The BTC/USD has crossed above 23.6% Fibonacci resistance area of 9,345 level. Closing of candles above this level is suggesting a new trading range, which is likely to keep the BTC/USD in between 9,340 - 9,545 trading range. The Bitcoin price (BTC) finished the week around $9,207, under 3.66%. Despite surprisingly weak volatility during the weekend, the bulls assisted in holding Bitcoin price over $9,000. At the moment, the BTC/USD continues to consolidate above $9,000 mark. The BTC/USD has crossed above 23.6% Fibonacci resistance area of 9,345 level. Bullish bias seems strong today, and the BTC/USD may go after 9,700 on the violation of 9,500 resistance today. Support Resistance 9,157.11 9,627.45 8,889.01 9,829.69 8,418.67 10,300.03 Key Trading Level: 9,359.35 The BTC/USD continues to follow the same technical levels. But on the hourly chart, the BTC/USD has formed a symmetric triangle pattern, which is extending short term resistance at 9375 along with support at 9250. Symmetric triangle patterns don't signal the direction of a potential breakout, which means the BTC/USD can breakout on either side. The closing of candles above 9,375 may lead to BTC/USD prices toward 9,435 and 9,520. Conversely, the violation of 9,250 levels can lead the BTC/USD prices towards 9,130. The euro slipped 0.1% to $1.1070. Official data showed that the eurozone retail sales grew 0.1% on month in September (flat expected), while German factory orders increased 1.3% (+0.1% expected). The German data is scheduled to release at 07:00 GMT and anticipated to show the Industrial Production dropped by 0.4% month-on-month in September. The final figure is expected to release at -2.9% against -4% during the Agust. Germanys manufacturing slowdown had increased during September with the IHS Markit Purchasing Managers Index reached 41.7 during September to mark the weakest figures since 2009. Support Resistance 1.1105 1.1158 1.1087 1.1194 1.1033 1.1247 Pivot Point 1.114 The EUR/USD bounced off above 1.1065 level but couldn't make it to 1.1100 resistance level and reversed from the way. At the moment, traders may keep an eye on 1.1065 to stay bullish above and bearish below this level. On the upper side, resistance stays at 1.1101, while bearish breakout of 1.1065 can extend sell-off until 1.1025 level. The British pound fell 0.2% to $1.2855. The Bank of England is anticipated to keep its benchmark rate unchanged at 0.75% later today. It's a significant day for the Sterling pairs as the Bank of England is scheduled to release Monetary Policy decisions later in the European session. Overall, the BOE isn't expected to change their interest rates from 0.75%, as it's peers FED and ECB did during the previous months, but the Sterling is facing bearish pressure over sentiments. The United Kingdom is dispensing interest in the coming election, which is scheduled to happen in December month poll where the United Kingdom Prime Minister Boris Johnson is well strong against the opposition Labour party leader and seems not hesitate while using the harsh words against the opposition. For now, the markets will keep their eyes on the Bank of England's monetary policy decision and the quarterly Inflation Report for fresh hints. Whereas the broad decided to no change in the current monetary policy for now. The traders will mainly be interested in Governer Carney Speech for more details. After the news release and when the BOE leaves the interest rate unchanged at 0.75%, we may see bullish bias in the GBP related pairs. Support Resistance 1.2862 1.2926 1.2822 1.2949 1.2758 1.3013 Key Trading Level: 1.2885 Technically, the GBP/USD continues to consolidate within a narrow trading range of 1.2810 - 1.2970. The 50 periods EMA rest and bearish engulfing candle on the 4-hour chart are likely to extend bearish trend in the GBP/USD. On the lower side, the GBP/USD may find immediate support at 1.2810, and violation of this level can extend selling until 1.2555. All the best for today.

The U.S. dollar gained traction on Tuesday, as data suggested that U.S. service sector growth in October was stronger than expected. The Dollar Index rose 0.4% on the day to 97.91. Media reported that the Chinese government is asking the U.S. to remove the tariffs imposed on 110 billion dollars of goods imports in September and to lower the 25% duty on 250 billion dollar imports imposed last year. The ISM non-manufacturing area index expanded to 54.7 from 52.6 in September, exceeding the market forecast. The rebound is a welcome token for greenback buyers as a reduction in the index would have advised that pain in trade war-hit companies was spoiling the service sector, along with the manufacturing sector. On top of Sino-U.S. trade concerns, the market is responding to signs of U.S. economic health at the time.   The Bitcoin price (BTC) finished the week around $9,207, under 3.66%. Despite surprisingly weak volatility during the weekend, the bulls assisted in holding Bitcoin price over $9,000. At the moment, the BTC/USD continues to consolidate above $9,000 mark. The BTC/USD hasn't changed much since yesterday as it continues to trade with in the same technical ranges. The BTC/USD has crossed above 23.6% Fibonacci resistance area of 9,345 level. Closing of candles above this level is suggesting a new trading range, which is likely to keep the BTC/USD in between 9,340 - 9,545 trading range. Support Resistance 9,157.11 9,627.45 8,889.01 9,829.69 8,418.67 10,300.03 Key Trading Level: 9,359.35 The BTC/USD has crossed above 23.6% Fibonacci resistance area of 9,345 level. Bullish bias seems strong today, and the BTC/USD may go after 9,700 on the violation of 9,500 resistance today. The euro dropped 0.5% to $1.1075. Later today, the eurozone retail sales for September will be reported (flat on month expected). The factory orders which is released by the Deutsche Bundesbank indicate many things, including shipment, inventories, and new unfiled orders. An increase in the factory order total will likely indicate an expansion in the Germany economy and could be an inflationary factor. It should be noted that the German Factory barely influences, either positively or negatively, the total Eurozone GDP. An influential figure is positive (or bullish) for the EUR, while a low figure is negative(bearish). As discussed yesterday, the EUR/USD has violated the support level of 1.1120, which was extended by a bullish trendline on the 4-hour chart. The EUR/USD has already tested the previously suggested target level of 1.1075, and now it's holding around this level. Bearish bias seems pretty solid today, but the 1.1065 level is extending support and keeping the pair on hold. Support Resistance 1.1105 1.1158 1.1087 1.1194 1.1033 1.1247 Pivot Point 1.114 Traders may keep an eye on 1.1065 to stay bullish above and bearish below this level. On the upper side, resistance remains at 1.1101, while bearish breakout of 1.1065 can extend sell-off until 1.1025 level. The GBP/USD was little changed at $1.2881. The Markit Services PMI bounced to 50.0 in October (49.7 expected) from 49.5 in September. At the Brexit front, the United Kingdom political situation is supportive to Prime Minister Boris Johnson because Brexit party leader is finally discussing a deal with the Tories to pull back some from his 600 voters to support the ruling party win in the December snap election. So eased doubts regarding not support the Tory leaders Brexit deal in the parliament. On the other hand, the diplomats from the Europan Union (E.U.) like Chief Brexit legislators Michael Barnier and the European Commission President Jean-Claude Junker keep intensifying worrying regarding the British departure. The Cable continues to consolidate within a narrow trading range of 1.2810 - 1.2970. The GBP/USD slipped lower as investors sentiment was bearish below 1.2950 resistance level. Recalling the candlestick pattern three black crows on 4-hour chart, it's still in play and keeping the Sterling in a bearish mode. Support Resistance 1.2862 1.2926 1.2822 1.2949 1.2758 1.3013 Key Trading Level: 1.2885 The 50 periods EMA is also extending resistance at 1.2900 and suggesting chances of bearish trend below this level today. On the lower side, the GBP/USD may find immediate support at 1.2850, and violation of this level can extend selling until 1.2810. All the best for today.

The U.S. Dollar Index stabilized after a five-day decline, closing up 0.1% on the day to 97.21. The euro lost 0.3% to $1.1128. The Eurozone, Sentix Investor Confidence Index, bounced to -4.5 in November (-13.8 expected) from -16.8 in October. The British Pound dropped 0.4% to $1.2889. The Markit U.K. Construction PMI rebounded to 44.2 in October (44.1 expected) from 43.3 in September. Investors will focus on the October Services PMI due later today (49.7 expected). The USD/JPY rose 0.5% to 108.71. Lastly, the USD/CAD slipped 0.1% to 1.3153. Later today, Canada's October trade balance will be reported (0.6 billion Canadian dollars deficit expected). During the U.S. session, the Institute of Supply Management (ISM) is due to post its non-manufacturing index for October (53.4 expected).   The Bitcoin price (BTC) finished the week around $9,207, under 3.66%. Despite surprisingly weak volatility during the weekend, the bulls assisted in holding Bitcoin price over $9,000. At the moment, the BTC/USD continues to consolidate above $9,000 mark. Today, Bitcoin has extended to gain support at the 200-days moving average, and that's been extending support to the BTC/USD prices since it was broken as resistance. Let's take a look at the technical aspect... Support Resistance 9,157.11 9,627.45 8,889.01 9,829.69 8,418.67 10,300.03 Key Trading Level: 9,359.35 Unlike the past few days, the Bitcoin showed some progress yesterday. The BTC/USD has crossed above 23.6% Fibonacci resistance area of 9,345 level. Closing of candles above this level is suggesting a new trading range, which is likely to keep the BTC/USD in between 9,340 - 9,545 trading range. Bullish bias seems strong today, and the BTC/USD may go after 9,700 on the violation of 9,340 resistance today. The EUR/USD lost 0.3% to $1.1128. The eurozone, Sentix Investor Confidence Index, bounced to -4.5 in November (-13.8 expected) from -16.8 in October. Whereas the Euroaozon producer Index is scheduled to release at 10:00 GMT, which cant leave any significant impact on the market. However, the pair could take clues from the United States trade balance and the Markit Serviced PMI figures, which are scheduled to release in the America session. Moreover, the selling pressure in the pair could increase if the US ISM Non-manufacturing data, which is scheduled to release at 15:00 GMT, bat past expectations. The unexpected weaker figure is likely to put the buying trend in the EUR/USD. Besides, the European Commission will post the eurozone's September PPI (-1.2% on year expected). The U.S. Commerce Department will report the September trade balance (52.5 billion dollars deficit expected). The Labor Department will release JOLTS job openings for September (7.09M expected). Support Resistance 1.1105 1.1158 1.1087 1.1194 1.1033 1.1247 Pivot Point 1.114 The EUR/USD has tested the double top resistance level at 1.1175 but failed to crossover as the dollar remains stronger over positive NFP figures, which were released during the last week. At the moment, the EUR/USD is holding and testing the bullish trendline support on the 4 hourly charts. This bullish trendline is extending significant support to the EUR/USD around 1.1120 area today. Above this level, we may see a bullish reversal, but the other leading technical indicators are suggesting strong chances of a bearish trend continuation. Hence, the violation of the 1.1120 level can extend sell-off until the 1.1075 area. The British Pound dropped 0.4% to $1.2889. The Markit U.K. Construction PMI rebounded to 44.2 in October (44.1 expected) from 43.3 in September. Investors will focus on the October Services PMI due later today (49.7 expected). We look at the services PMI to drop slightly further into recession area at 49.2 in October against 49.7. Whereas the manufacturing PMI is succeeded to climb a little bit of an inventory building ahead of the October 31 deadline, the services PMI delivered the sluggish figures more than three-PMIs in March. On the flip side, the U.S. data focus is on the October non-manufacturing ISM survey. The consensus is for an increase in the overall index from 52.6 to 53.4. Notably, the U.S. trade balance September is also scheduled to release and expected near the -$53bn. Support Resistance 1.2862 1.2926 1.2822 1.2949 1.2758 1.3013 Key Trading Level: 1.2885 The GBP/USD slipped lower as investors sentiment was bearish below 1.2950 resistance level. For now, the GBP/USD has formed three black crows candlestick pattern, and it's pretty much likely to drive further sell-off in the market. The GBP/USD may find an immediate resistance at 1.2915, along with support around 1.2825 today. Bearish bias seems stronger. All the best for today.

On Monday, the U.S. dollar seems to trade with a neutral bias following better than expected economic data. The Unemployment Rate ticked higher 3.6% from the previous month's 3.5%. And Average Hourly Earnings also dropped to 0.2% from the expectations of 0.3%. The decline in Manufacturing Business activity from the United States put pressure on the U.S. Dollar while the ISM Manufacturing PMI dropped for the month of October to 48.3 from expected 49.0. Economic Calendar -NFP Supports the Dollar!     The Bitcoin soared to trade higher to drop lower from high of $9,512 to sell at $9,170. The BTC/USD has fallen 2% on Tuesday, and after the beginning of the day, the BTC is consolidating within a short range of 9400 - 8985. One of the reasons Bitcoin is demanded is its potential for freedom from the banking system, which is clearly in trouble. Banks keep their clients to ransom when services are drawn. This is precisely what is passing now in China as residents hurry to withdraw their savings. Support Resistance 9,157.11 9,627.45 8,889.01 9,829.69 8,418.67 10,300.03 Key Trading Level: 9,359.35 The technical side of the BTC/USD hasn't changed over the weekend as it continues to trade below the 23 .6% Fibonacci support level of 9,345. The leading cryptocurrency pair is now likely to gain support above 38.2% Fibonacci support level of 8,985. The bearish breakout of 8,985 level can extend selling until 8,675 whereas, the bullish breakout can lead Bitcoin prices to 9650. Within 9400 - 8985, the pair is likely to trade choppy. The EUR/USD Prices closed at 1.11648 after placing a high of 1.11718 and low of 1.11281. Overall the movement of the pair remained Bullish that day. Due to a lack of macroeconomic data from the Eurozone because of Bank Holiday, EUR/USD was totally dependant on U.S. dollars for movement in financial markets on Friday. At an early trading session on the ending day of the week, the pair EUR/USD dropped after the release of Non-Farm Employment Change from the United States at 17:30 GMT. The bigger than expected job creations from the U.S. in this prevailing tense conditions gave a boost to U.S. Dollar and pushed EUR/USD in a downward direction. U.S. Labour Department created almost 128K jobs in October against the expectations of 90K. But at 19:00 GMT, the decline in Manufacturing Business activity from the United States put pressure on U.S. Dollar and gave strength to EUR/USD. The ISM Manufacturing PMI dropped for the month of October to 48.3 from expected 49.0. Other data revealed that for this month, the Unemployment Rate ticked higher 3.6% from the previous month's 3.5%. And Average Hourly Earnings also dropped to 0.2% from the expectations of 0.3%. The more negative and unsupportive data from America pushed U.S. Dollar and raised EUR/USD at the ending day of the week and gave it a Bullish Candle. From Eurozone, the new European Central Bank Head, Christine Lagarde, would give her speech on Monday. Traders would closely watch her first speech as her comments would suggest her views to react in the slowing growth in the bloc. Support Resistance 1.1104 1.1178 1.1055 1.1203 1.0981 1.1277 Key Trading Level: 1.1129 The EUR/USD technical analysis remains mostly the same as the pair hasn't been able to violate the ascending triangle pattern. On the 4 hour chart, the EUR/USD is likely to test and form a triple top level at 1.1175 area. Closing of candles below this is expected to keep the EUR/USD bearish below 1.1175 level. Besides, the bullish breakout of this level will open further room for buying until 1.1230. The bullish sentiment seems stronger today. The GBP/USD Prices were closed at 1.29337 after placing a high of 1.29725 and low of 1.29262. Overall the movement of GBP/USD remained Bullish that day. The Manufacturing PMI from United Kingdom at 14:30 GMT showed growth in October to 49.6 from 48.3 of the previous month. The increased Business activity from the U.K. gave strength to Pound on Friday. The Strong Sterling gave strength to GBP/USD on Friday, and the pair started to move in an upward direction. The Brexit news further supported the upside trend of GBP/USD. The latest polls from the U.K. released on Thursday showed that PM Boris Johnson's Conservative Party was getting stronger with increased support from Parliament against the opposition Labor Party. This boosted the hopes that Johnson's version of Brexit deal would win, and traders seem to like this scenario as the No-deal Brexit is out of the question now. The increasing odds of PM Boris Johnson to win elections in December and hols his position supported Pound. The pair's strength was also caused by the expectations that U.K. Prime Minister, Boris Johnson, has strong ties with the United States, and that would be beneficial for Good Trade relations in the future. The decline in manufacturing activities of the United States on Friday also added in the upward direction of GBP/USD. For the month of October, the ISM Manufacturing PMI dropped to 48.3 and weighed U.S. dollars. Support Resistance 1.2862 1.2926 1.2822 1.2949 1.2758 1.3013 Key Trading Level: 1.2885 The Cable also traded in line with the forecast, holding above 1.2920 support level and below 1.2945. On Monday, the GBP/USD may find an immediate resistance at 1.2950 level, and above this, 1.3010 will be in focus. On the lower side, 1.2906 is likely to keep the GBP/USD supported today. All the best for today.

On Friday, the forex traders are anxiously waiting for the U.S. labor market data, which is due later in the day. The Unemployment rate for October came as 7.5% higher than forecasted 7.4% and weighed on single currency Euro. At 16:00 GMT, the Italian Prelim GDP also showed growth to 0.1% from the expectations of 0.0%. The growth in CPI and GDP from Eurozone gave strength to Single Currency on Thursday but, Weak German Retail Sales and Increased Unemployment rate from zone put pressure on European Currency.   The Bitcoin soared to trade higher to drop lower from high of $9,512 to sell at $9,170. The BTC/USD has fallen 2% on Tuesday, and after the beginning of the day, the BTC is consolidating within a short range of 9400 - 8985. One of the reasons Bitcoin was conceived was to grant freedom from the banking system, which is clearly in trouble. Banks keep their clients to ransom when services are drawn. This is precisely what is passing now in China as residents hurry to withdraw their savings. Support Resistance 9,157.11 9,627.45 8,889.01 9,829.69 8,418.67 10,300.03 Key Trading Level: 9,359.35 On Friday, the BTC/USD continues to hold below the 23 .6% Fibonacci support level of 9,345. The leading cryptocurrency pair is now likely to gain support above 38.2% Fibonacci support level of 8,985. The bearish breakout of 8,985 level can extend selling until 8,675 whereas, the bullish breakout can lead Bitcoin prices to 9650. Within 9400 - 8985, the pair is likely to trade choppy. TheEUR/USD was opened at 1.11516 and has placed a high of 1.11756 and low of 1.11314 until now. The pair is currently trading at 1.11471 and has shown a Bearish trend for the day. At 12:00 GMT, The German Retail Sales for October dropped to 0.1% against the expectations of 0.3%. The French Prelim CPI for October also dropped to -0.1% from the expectations of 0.1% at 12:45 GMT. The Spanish Flash GDP at 13:00 GMT remains flat as 0.4%. At 14:00 GMT, The Italian Monthly Unemployment Rate increased to 9.9% in October from 9.6% of September. The Consumer Price Index (CPI) Flash Estimate for Eurozone also remained the same 0.7%. But the Core CPI Flash estimate of zone increased to 1.1% from expectations of 1.0% at 15:00 GMT. The Italian Prelim CPI for October increased to 0.0% from -0.6% of the previous month. The Flash GDP for Eurozone showed growth to 0.2% from the expectations of 0.1% and supported euro. However, the Unemployment Rate for October came as 7.5% higher than forecasted 7.4% and weighed on single currency Euro. At 16:00 GMT, the Italian Prelim GDP also showed growth to 0.1% from the expectations of 0.0%. The growth in CPI and GDP from Eurozone gave strength to Single Currency on Thursday but, Weak German Retail Sales and Increased Unemployment rate from zone put pressure on European Currency. The weak German macroeconomic data dragged back the economy of Germany towards the edge of recession, and the rising jobless rate from Eurozone gave signals of the slowdown of the European Economy and weighed on Euro in Thursday trading session. Support Resistance 1.1104 1.1178 1.1055 1.1203 1.0981 1.1277 Key Trading Level: 1.1129 On the 4 hour chart, the EUR/USD is likely to test and form a double top level at 1.1175 area. Closing of candles below this is expected to keep the EUR/USD bearish below 1.1175 level. The EMA is left far behind around 1.1125, and this can offer bearish retracement of up to 38.2% (1.1135) today. Besides, the bullish breakout of this level will open further room for buying until 1.1230. The bullish sentiment seems stronger today. The GBP/USD was opened at 1.28995 and has placed a high of 1.29755 and a low of 1.28975 until now. The pair is currently trading at 1.29463 and has shown a Bullish trend for the day. At 5:01 GMT, the Gfk Consumer Confidence from the United Kingdom came in as -14 against the expectations of -13 for the month of October and weighed on Pound in the early session on Thursday. On the back of weak U.S. Dollars on Thursday from the latest Rate Cut from Fed and weak macroeconomic data from the United States, GBP/USD continued to move in an upward direction that day. The USD was under pressure on Thursday amid the increased unemployment claims of 218K this week also because of decreased Chicago PMI as 43.2 against the expectations of 48.4. Personal Spending along with Core PCE Price Index fell for the month of October and weighed on U.S. dollars. The increasing odds of the public Support to U.K. Prime Minister Boris Johnson on December Election are helping the upward trend of GBP/USD. The choice between Brexit and December Election has created uncertainties in the market and has led the pair GBP/USD near the 1.29 level. It is also possible that the upward trend of GBP/USD was supported by the exit of Nigel Farage's Brexit Party from Polls, which would be beneficial for PM Johnson's party during the election. Besides, the 3rd rate cut by Federal Reserve on Wednesday also helped to give a boost in the upward direction of GBP/USD on the next day. Support Resistance 1.2862 1.2926 1.2822 1.2949 1.2758 1.3013 Key Trading Level: 1.2885 The GBP/USD continues to trade bullish, and on the hourly chart, it has violated the upward channel. The bullish trend line was extending its resistance around 1.2950, but that level has already been violated. The GBP/USD may find an immediate resistance at 1.2950 level, and above this, 1.3010 will be in focus. On the lower side, 1.2906 is likely to keep the GBP/USD supported today. All the best for today.

In FOMC held on Wednesday, fed decided to cut its interest rates by 25 basis points and keep them till a significant move up in inflation. It weighed on U.S. Dollar and reversed the EUR/USD movement towards the upside. Fed made a 25 basis point cuts in its interest rates and said that it would pause for further easing until inflation goals are met. The U.S. Dollar suffered amid the Fed Rate cut against its peer currencies. Economic Calendar   The Bitcoin drops lower from Tuesday's high of $9,512 to trade at $9,170 by news time. The BTC/USD has fallen 2% both on a day-to-day basis and since the inception of the day, moving inside the short-term bearish trend amid growing volatility. This momentum was undeniably bullish. Nonetheless, not everyone is convinced that the bounce places Bitcoin in the decisively bullish area, as there prevails some evidence to suggest that the trend is quite negative. The BTC/USD mostly traded the same technical levels due to a lack of volatility in the leading crypto pair. It's primarily due to the Federal Reserve rate cut decision, which drove most of the trading volume in the gold, stock market, and the U.S. competitor currencies. Support Resistance 9,157.11 9,627.45 8,889.01 9,829.69 8,418.67 10,300.03 Key Trading Level: 9,359.35 The BTC/USD lately violated the 23.6% Fibonacci support level of 9,345, and now its gaining support above 38.2% Fibonacci support level. The BTC/USD may find an immediate resistance at 9,220 and 9,460 along with support at 8,975, and below this, the BTC/USD can go after 8,670. TheEUR/USD closed at 1.11516 after placing a high of 1.11533 and low of 1.10800. The overall movement for this pair remained Bullish that day. At 11:30 GMT, the French Flash GDP came at 0.3% and surpassed the expectations of 0.2%. The German Prelim CPI also showed growth to 0.1% against the expected 0.0%. However, the French Consumer Spending at 12:45 GMT dropped to -0.4% from the expectations of 0.0%. The Spanish Flash CPI at 13:00 GMT remained flat at 0.1%. At 13:55 GMT, the German Unemployment Change came against Euro currency as 6K against the expectations of 2K. With mixed data from Eurozone, the pair continued to show mixed movements during the early session according to macroeconomic releases. However, after 23:00 GMT, the pair EUR/USD is holding a steady Bullish Position after the announcement of 3rd rate cut by Federal Reserve of U.S. In the FOMC held on Wednesday, FED decided to cut its interest rates by 25 basis points and keep them till a significant move up in inflation. It weighed on U.S. Dollar and reversed the EUR/USD movement towards the upside. From a 20-day moving average, EUR/USD bounced sharply at 1.1075 and raised almost more than 50 pips on Wednesday. Euro broke above 1.1130 range and reached 1.1149, where it is holding a top position as of writing. Support Resistance 1.1104 1.1178 1.1055 1.1203 1.0981 1.1277 Key Trading Level: 1.1129 On the 4 hour chart, the EUR/USD is likely to test and form a double top level at 1.1175 area. Closing of candles below this is expected to keep the EUR/USD bearish below 1.1175 level. The EMA is left far behind around 1.1125, and this can offer bearish retracement of up to 38.2% (1.1135) today. Besides, the bullish breakout of this level will open further room for buying until 1.1230. The GBP/USD closed at 1.28994 after placing a high of 1.29073 and a low of 1.28450. The overall movement for this pair remained Bullish that day. At 5:01 GMT, the BRC Shop Price Index from the United Kingdom came as -0.4%. On Brexit front, the U.K. Parliament agreed to have general elections on December 12, and the U.K. opinions polls clearly suggested that the chances for Conservative Party to win in general election are more. After the news, GBP/USD moved in an upward direction on Wednesday. The pound has gained over 6% in the current month on the ground of No-deal Brexit, which is now off the table after accepting the grant of extension of 3 months from E.U. However, if Parliament manages to pass Johnson's Brexit deal into law, then the rise in Pound can be extended further. On the other hand, the Bullish trend of GBP/USD was highly supported by the U.S. Federal Reserve decision to cut its rates for 3rd time this year on Wednesday. Fed made a 25 basis point cuts in its interest rates and said that it would pause for further easing until inflation goals are met. The U.S. Dollar suffered amid the Fed Rate Cut and supported the GBP/USD to move in a bullish direction to place a high of 1.29073. Support Resistance 1.2862 1.2926 1.2822 1.2949 1.2758 1.3013 Key Trading Level: 1.2885 The GBP/USD continues to trade bullish, and on the hourly chart, it has violated the upward channel. The bullish trend line was extending its resistance around 1.2950, but that level has already been violated. The GBP/USD may find an immediate resistance at 1.2950 level, and above this, 1.2985 will be in focus. On the lower side, 1.2906 is likely to keep the GBP/USD supported today. All the best for today.

On Wednesday, the forex trading is all about FOMC, and Federal Reserve Rate cut decisions. The renewed optimism from Brexit headlines supported the upward trend for Euro. The weak Consumer Confidence from the United States for September added in the upward trend of EUR/USD on Tuesday. Besides, the Bank of Canada is also expected to release monetary policy decisions, but it's not likely to change it's rate today.   During the previous weekend, the BTC/USD exhibited a historic move: just in 24 hours, the leading cryptocurrency surged by 42%, to trade around $10,500 after dropping as low as $7,300. This labeled Bitcoin's fourth-largest daily action in its history and the most significant move higher since 2011. This movement was undeniably bullish. Nevertheless, not everyone is persuaded that the bounce places Bitcoin in the decisively bullish region, as there exists some proof to propose that the trend is still negative. Support Resistance 9,157.11 9,627.45 8,889.01 9,829.69 8,418.67 10,300.03 Key Trading Level: 9,359.35 The BTC/USD hasn't changed much so far as the formation of a Doji and Spinning Top pattern beneath the 10,000-mark is keeping the BTC/USD prices in check. For now, the BTC/USD seems to face support around 8,900 (38.2% Fibonacci retracement) and 8,600 the 50% Fibo level. Whereas, the immediate resistance stays at 9,470 area and 9,800. On the upper side, the bullish breakout of the 10K market can extend the bullish trend until 10,350 and 10,750. The EUR/USD pair was opened at 1.10994 and has placed a high of 1.11184 and a low of 1.10735. The pair has shown a sharp Bullish trend and is currently trading at 1.11111. With no macroeconomic data from Eurozone, EUR/USD was moved by U.S. Dollar o Tuesday. EUR/USD rebounded to 1.1100 after the challenging 2-weeks low range. The renewed optimism from Brexit headlines supported the upward trend for Euro. The weak Consumer Confidence from the United States for September added in the upward trend of EUR/USD on Tuesday. At 19:00 GMT, the consumer confidence of the U.S. was dropped to 125.9 from 126.3 of the previous month and weighed on U.S. Dollar, which in turn gave strength to EUR/USD pair. FOMC on Wednesday is in focus of traders with 25 basis points rates cut expectations on board, which is also weighing on U.S. Dollar and supporting EUR/USD. Support Resistance 1.1084 1.1129 1.1056 1.1147 1.1011 1.1192 Key Trading Level: 1.1101 The EUR/USD bounced off after testing the support level of 1.1065 for another day. The support level was extended by a bullish trendline. The pair soared to the retest 1.1100 zones. For now, the EUR/USD seems to gain support at 1.1100 area, and below this, it can go after 1.1065 and over 1.1100, the primary resistance is likely to be found around 1.1145. The GBP/USD was opened at 1.28591 and has placed a high of 1.29044 and low of 1.28064 until now. The pair has shown a Bullish trend for the day and is currently trading at 1.28640. At 11:58 GMT, the Nationwide HPI from the United Kingdom showed growth to 0.2% against the expectations of 0.0% and supported the single currency – Sterling. The pound was further supported by the release of M4 Money Supply at 14:30 GMT, which came in as 0.7% against the expectations of 0.3%. The 66k higher than expected mortgage approvals for September also supported the Sterling. The Net Lending to Individuals remains fat for September as 4.6B. The macroeconomic data from the United Kingdom on Tuesday remained in favor of Sterling and moved GBP/USD in an upward direction. After the release of U.S. Data ahead of the FOMC Meeting, Dollar was under pressure on Tuesday. The less than expected U.S. Consumer Confidence weighed on U.S. Dollar and supported the upward trend of GBP/USD on Tuesday. On the news front, the no-deal Brexit in October got off the table after the PM Johnson accepted the Extension Grant by the E.U. The Opposition Labour Party's Leader, Jeremy Corbyn, announced that he would support the December Elections. After the comment of Corbyn, GBP/USD gained sudden traction and moved in Bullish sentiment. But the votes were favored to the Creasy amendment by the House of Commons on Tuesday, which would allow the election motion to be amended. This situation gave a boost to the uncertainty on December Elections, and the upward direction of GBP/USD lost its momentum. Support Resistance 1.2813 1.2911 1.276 1.2958 1.2661 1.3056 Key Trading Level: 1.2859 The GBP/USD trades with the same technical due to a lack of significant market movements. Today, 1.2800 continues to remain the fundamental trading level as under this, the GBP/USD pair can extend to trade lower till 1.2750. On the flip view, the bullish violation of 1.2835 can drive the GBP/USD towards 1.2920. All the best for today.

A day before on Monday, the U.S. dollar dropped ahead of an expected Federal Reserve rate cut later this week, whereas the Brexit delay improved boosting the Sterling. The U.S. dollar index, which gauges the dollar's health versus a basket of six leading currencies, was depressed by 0.1% to 97.558. On Wednesday, the U.S. Fed is anticipated to lower rates for the third time this year. Still, traders are waiting for remarks at a central bank press conference to obtain more info if the policymakers proceed to loosen monetary policy. Today, investor's focus stays on the U.S. Consumer Confidence figure, which may help traders capture some price action in the U.S. dollar pairs. Economic Calendar   The leading cryptocurrency Bitcoin gained support on Monday as it soared to a one-month high over the weekend following China’s president comments. Mr. Xi Jinping stated the world’s second-biggest economy should expedite the growth of blockchain technology. During the previous week, there was a dramatic rally in bitcoin over the $7,500 and $8,000 resistances versus the Greenback. The BTC even climbed over the $9,500 and $10,000 levels ere taking a bearish retracement. Later, the price corrected below the $9,500 support and the $9,000 pivot place. Nevertheless, the drop was contained beneath $9,000, and the rate persisted well over the 100 hourly simple moving average. Support Resistance 9,265.43 9,692.29 9,054.6 9,908.32 8,627.74 10,335.18 Key Trading Level: 9,481.46 The BTC/USD has formed a fresh low of around $8,896, while bitcoin began a steady increase. It has violated the $9,000 and $9,200 resistance points. Furthermore, there was a violation of the 50% Fib retracement mark of the downward correction from the $10,578 high to $8,896 low. Recalling our previous update, the BTC/USD has formed a Doji or Spinning Top pattern beneath 10,000-mark that can trigger a bearish retracement until 8,900 (already achieved) and 8,600. For now, the BTC/USD is trading at 9,470 area, having an immediate resistance at 9,800, and the bullish breakout of this level can extend buying until 10,350, and 10,750 remain strong resistance. A day before, the single currency Euro soared a little during the early hours of Monday but proceeded to see much resistance just above. The 1.11 level is presently offering a bit of hurdle possibility, and if that’s going to be the case, forex traders are likely to look for selling trades in the Euro again. The dollar traded slightly soft due to the probability of the third rate cut by the U.S. Federal Reserve this month. Besides the downward movement of the EUR/USD, the likelihood of a slowdown hitting the German Economy is yet likey, adding bearish pressure to the single currency Euro. On Monday, the German Import Prices, Money Supply, and Private Loans performed positively. German Import Prices declined by 2.5% in September 2019 versus the same month of the previous year. As published by the Federal Statistical Office (Destatis), in August 2019 and July 2019, the annual percent change was -2.7% and -2.1%, sequentially. Whereas, the index surged by 0.6% from August 2019 to September 2019. Support Resistance 1.1085 1.1111 1.107 1.1121 0.1045 1.1147 Key Trading Level: 1.1096 The technical view of the EUR/USD hasn't improved much from yesterday. The EUR/USD bounced off after testing the support level of 1.1065, which was extended by the bullish trendline. The 50 periods EMA which was extending support to the EUR/USD, is extending resistance 1.1100 area, and closing below this level can trigger further selling in the EUR/USD today. On the lower side, support remains at 1.1065, and over 1.1100, the primary resistance is likely to be found around 1.1145. The GBP/USD surged 0.3% to 1.2858 while EUR/USD was up 0.1% to 1.1091. The contract is likely to carry a quicker departure if a withdrawal deal is consented to by the U.K. earlier. The U.K. Parliament was set to schedule to vote later on Monday on whether or not to keep a general election ere Christmas to try to confirm the withdrawal deal accepted by the EU with Prime Minister Boris Johnson. The British Pound could trade lower versus the US Dollar within the subsequent trading session. A potential downside spot is the 1.2760 level. Additionally, I perceive that some volatility could happen in the market on the back of the UK Parliament Brexit Vote, which later got rejected. Administrators in the U.K. have denied the government’s offer to hold a general election on December 12. Following the laws, two-thirds of Parliament (434 MPs) were required to support the motion for it to qualify. But the numbers dropped short as opponent lawmakers refused the opportunity to take on Prime Minister Boris Johnson at the ballot box. Support Resistance 1.2826 1.2888 1.2789 1.2914 1.2727 1.2976 Key Trading Level: 1.2851 Just like the EUR/USD, the GBP/USD also hasn't traded much as investors felt hesitant to open trades in the wake of the UK Parliamentary vote. Today, 1.2832 continues to remain the fundamental trading level as under this, the GBP/USD pair can extend to trade lower till 1.2750. On the flip view, the bullish violation of 1.2835 can drive the GBP/USD towards 1.2920. All the best for today.