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Market updates on October 29

Market updates on October 29

Information is not investment advice

On the H4 of EUR/GBP, we see that the price is testing the psychological level of 0.8612. The pair is consolidating, thus, the further direction will depend on the strength of the euro. If the pair falls below 0.8612, it will slide towards 0.8590. In the case of the reversal, the resistance is placed in the range of 0.8649-0.8663.

EURGBPH4 October 29.png

On the H4 of EUR/USD, we see a similar picture, indicating a bearish movement. The price may test the support range 1.1073-1.1061, 1.1038.  If the pair sticks above 1.1085, we may see a rise to 1.1105.

EURUSDH4 October 29.png

Gold is on the sideways movement, indicating a potential for a rise. On the H1 chart of XAU/USD, it has already broken yesterdays’ resistance and is gradually climbing up towards the resistance levels at 1495.47, 1506.00 and 1514.47. For the market reversion, support levels may be set at 1488.83, 1484.14 and 1480.35.

XAUUSDH4 October 29.png

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