Market News and Charts for October 22, 2018
Hey traders! Below are the latest forex chart updates for Monday’s sessions. Learn from the provided analysis and apply the recommended positions to your next move. Good day and Good Luck!
USD/BRL
The trade war between the United States and China had made the US Dollar firm. But as the economy of the United States was showing strength, the Federal Reserves shifted its focus from Employment to Wage and Inflation, which makes borrowing costlier for companies. And Brazil as an emerging market was showing resilience compared to its peers. Expect the pair to further go down with the bounce back expected in the short term.
USD/NOK
The pair was creating a pattern within a pattern as uncertainty over the European Union as it struggles with the negotiation with the UK over the Brexit, and the internal conflict between Germany, France, and populist Italy. Expect the US Dollar to further weaken to complete the pattern and to wait for a catalyst for the next trade with the pair.
USD/RUB
The Russian economy was struggling and a continued discontent by the Russian to Vladimir Putin might risk his ambition to make Russia as the leading superpower in the world. The US, on the other hand, was in its fastest pace of growth caused by the increased tariff and tax cuts. Russia was building its military, which could become a threat to its enemies. Expect a bounce back from the pair in the short term.
EUR/RUB
The turmoil in the European Union with its negotiation with the United Kingdom over the Brexit and the dispute with Italy’s budget as it breaks the rule in the European Union to maintain a 2.0% Debt-GDP ratio increases the likelihood of a divided European Union. Another problem that it was encountering was the increasing militarization of Russia over its border with Poland, a member of the European Union. Expect a weaker Euro.
