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Analysis of GBP/USD for October 18. Pound rises with difficulty; corrective wave may end soon

14:29 2021-10-18 UTC--4 Relevance up to 13:00 2021-10-19 UTC--4

Author: Alexander Dneprovskiy

Popular analytics

EUR/USD. Three fundamental factors of the US dollar rally

03:05 2021-10-18 UTC--4

EUR/USD: plan for the American session on October 18 (analysis of morning deals). Euro sellers are actively defending the 1.1593 level

09:30 2021-10-18 UTC--4

Trading plan for starters of EUR/USD and GBP/USD on October 18, 2021

05:40 2021-10-18 UTC--4

Forecast for EUR/USD on October 18, 2021

00:20 2021-10-18 UTC--4

Technical analysis recommendations of EUR/USD and GBP/USD on October 18

06:45 2021-10-18 UTC--4

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Analysis of GBP/USD for October 18. Pound rises with difficulty; corrective wave may end soon

The wave counting for the Pound/Dollar instrument has become more complicated and now it is expected to continue building a downward trend section. The instrument made a successful attempt.

Analysis of EUR/USD for October 18. Markets had a hard time pushing the price up

The wave counting of the 4-hour chart for the Euro/Dollar instrument suffered certain changes after the quotes fell below the low of the previous wave. Thus, now the a-b-c-d-e trend.

Technical analysis For beginners

October 18, 2021 : EUR/USD daily technical review and trading opportunities.

Intraday traders were advised to wait for candlestick closure above 1.1780 - 1.1840 for another ascending swing to be initiated. However, immediate downside selling pressure brought the pair down below.

Technical analysis

October 18, 2021 : EUR/USD Intraday technical analysis and trading plan.

Bullish signs were expected around the price levels of 1.1650-1.1700 as it corresponded to a recent previous bottom. However, extensive bearish decline has pushed the EURUSD pair towards 1.1600.

Technical analysis

October 18, 2021 : GBP/USD Intraday technical analysis and significant key-levels.

Currently, the short-term outlook remains bullish as long as the pair maintains its movement above 1.3550. However, the pair is currently testing the resistance zone around 1.3730 where some bearish.

Crypto-currencies

Bitcoin nears 67,000; Why You Can't Buy Now

"Buy the rumor, sell the fact" is a well-known rule of the market. Rumors have helped Bitcoin a lot. While market participants waited for the crypto ETF to be approved.

Crypto-currencies

First bitcoin futures ETF is set to begin trading on October 19

The first Bitcoin futures ETF ProShares Bitcoin Strategy will be available to investors as early as tomorrow. Many other assets will then get the green light, including Cathie Wood's.

Crypto-currencies

Crypto market verging on new all-time highs - Bitcoin and Ethereum

The whole world is following the ETF epic, almost not believing in its happy ending. The crypto community has fought too long for the SEC's approval of the unique Bitcoin-ETF.

Crypto-currencies

Major news of the crypto market for October 18

Over the past few months, Bitcoin has continued to rise and has almost reached its historic peaks at around $65,000. There are still 3,000/4,000 dollars left.

Crypto-currencies For beginners

Learn and Analyze: What Bitcoin Technical Indicators Say Before Reaching Historical Highs

Bitcoin had a strong weekend and managed to overcome the $60k mark, which was a key resistance level for the price. Now the coin is one step away from setting.

Crypto-currencies

MicroStrategy, Tesla and 99% more investors in colossal profits from the Bitcoin rally

The entire cryptocurrency market was looking forward to the new working week with great enthusiasm, as the first crypto asset approaches the historical record over the weekend. As of 13:00.

Crypto-currencies

Trading signal for BITCOIN (BTC) on October 18 - 19, 2021: Sell below $59,500 (7/8)

To keep the uptrend intact, buyers should buy at the 21 SMA located at 60,600. If BTC bounces off the bottom of the bullish channel, it could gain momentum.

Trading signal for CRUDE OIL (#CL) on October 18 - 19, 2021: Sell below 83,57 (GAP)

Crude Oil, (#CL) opened the trading week with a bullish GAP. Since the Asian session, it has been rising, approaching 7/8 of Murray located at 84.38. The Eagle indicator.

Will QE tapering help curb inflation?

Last week, the U.S. inflation report was released, the last major report ahead of the Fed's November meeting. Thus, both members of the monetary committee and market participants.

Technical analysis For beginners

The Dollar index remains below key Fibonacci resistance.

The Dollar index has tried the last three weeks to push above the Fibonacci resistance level of 94.50, but all attempts have failed. Price is now vulnerable to a move.

US premarket on Oct 18: US stock market continues to rally during Q3 2021 reporting season

Strong gains in the US stock market at the end of last week indicate a good quarterly earnings season for US companies. The Dow rose 382 points on Friday, ending.

Trading signal for EUR/USD on October 18 - 19, 2021: Buy if price breaks above 1.1615 (2/8)

The EUR/USD pair is forming a bullish pennant. This pattern represents a technical figure of continuation of an uptrend. Since October 13, it has been forming the flag. A confirmation.

Crypto-currencies

XRPUSD bulls need to recapture $1.20-$1.28 in order for price to continue higher.

XRPUSD is moving lower towards $1. Price is now at $1,08 after previously reaching our target are close to $1.23. The zone of $1.20-$1.28 is full of important resistance.

Technical analysis

Short-term EURUSD analysis.

EURUSD last week broke out and above the major trend line resistance coming from 1.1870-1.19 area. Price has stopped making lower lows and lower highs and there are increased chances.

Ichimoku Indicator

Ichimoku cloud indicator analysis on Gold for October 18, 2021.

Gold price got rejected at the key resistance trend line last week. Price reached very close to the $1,800 level but got rejected and price has pulled back towards $1,770-60.

GBP/USD: the plan for the American session on October 18 (analysis of morning deals). Sellers of the pound cannot break below 1.3717 in any way

In the first half of the day, I paid attention to the 1.3717 level and advised them to make decisions on entering the market. Let's look at the 5-minute chart.

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We present to you the daily updated section of market analysis prepared by professional analysts of InstaForex Company. Each of the specialists represented in this section, carries out analytical reviews in accordance with his/her vision of the current situation on foreign exchange and other markets. However, the outlooks below are only recommendations and not instructions to any actions; they contain analysis of the current situation on the currency market. In some cases the analysts' opinions to changes in the current market situation can differ, in this way, we recommend you to follow the publications of only one analyst, who in your view most clearly and correctly evaluates the situation on the international Forex market.