Wave Analysis: #Brent Crude Oil is expected to fall further and re-test the next support level 65.00. Read more

On Tuesday afternoon, the markets managed to avoid the large-scale sale. The initial decline of the US stock indices by more than 2% was mostly redeemed. Index #SP500 lost 0.55%.

#Gold unfolded to growth from early October, trading about $1230 currently and being pushed away from the bottom of the $1180 per ounce.

Sharply declined shares found their buyers, significantly reducing the initial drawdown. A similar situation is observed on Asian bourses in the morning. The indices of China and Japan at the time of writing remain near the levels of the day opening.

However, American key indices S&P500 and DJI, and Asian Nikkei225 and Heng Seng remain below their 200-day moving averages. This may lead to a further sale of stocks by large funds that perceive this line as an important trend signal.

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Do you take the “Beige Book” into account when trading?
anonymous poll

No, I still don’t understand what it is and where to find the published results – 13
👍👍👍👍👍👍👍 81%

Yes, I read it very carefully and analyze the information – 3
👍👍 19%

👥 16 people voted so far.

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Most of our readers didn't know much about Fed's Beige Book. We try to explain briefly.

https://telegra.ph/What-is-the-Beige-Book-and-what-to-do-with-it-10-24

Wave Analysis: #GBPCAD is expected to fall further and re-test the next strong support level 1.6600. Read more

Wave Analysis: Wheat (#WHT) is expected to fall further and re-test the next strong support level 495.00. Read more

The sale on the U.S. stock markets was gaining momentum yesterday. #DJI fell by 2.4%, #SP500 lost more than 3%, and #Nasdaq plunged by 4.4% in just one trading session.

The focus of the markets on Thursday turns to ECB’s conference. The speech by the President Mario Draghi very often causes the increased volatility of the single currency, as the head of the bank gives answers to the most burning questions of journalists. This time, there will probably be questions about the influence of the Italian situation on the plans to minimize QE and higher rates.

The #EURUSD pair on Wednesday lost 0.7%, falling to 1.1390 overnight. On Thursday, it finds some support near the psychologically important level on 1.1400, but the trading activity is reduced in anticipation of the ECB press conference.

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What EURUSD reaction do you expect during today's Draghi speech that starts at 10:30 GMT?
anonymous poll

Sharp decline – 13
👍👍👍👍👍👍👍 45%

Rapid growth – 10
👍👍👍👍👍 34%

No visible changes – 5
👍👍👍 17%

I'm ready for any outcome – 1
👍 3%

👥 29 people voted so far.

👉🏻 Q&A with our FxPro analyst Alexander Kuptsikevich.

🤔 Question: Is trading cooler than programming?
😎 Answer: Programming is more stable. Trading is much more ambitious. Your competition will be the most technically equipped departments of the richest banks in the world.

But that doesn't mean that individual people are destined to fail, on the contrary - banks and funds have an enormous amount of bureaucracy, which limits their flexibility and constraints them greatly.

A while back I moved into trading instead (in order to apply my skills) but I must say, that based on experience, programming is practically a must-have in trading.
First of all, to be able to apply a trading algorithm, secondly to understand the logic of how trading robots work (which is essential) and finally, to be able to write them yourself.

Do you have a question for our analyst? Email to media@fxpro.ru.com 👈🏻

Wave Analysis: #GBPAUD is expected to fall further and re-test the next round support level 1.8000. Read more

Wave Analysis: Palladium (#PDU) is expected to fall further and re-test the next strong support level 1080. Read more

The Australian dollar (#AUDUSD) has updated its 2016’s lows as a trend that has been observed from January. This Aussie’s weakening is an additional evidence of fears surrounding world economy.

On stock markets, the sale of risky assets continues. #SP500 added 1.9% on Thursday, but the index futures eke out, returning to the area of lows from May.

The reversal to the decline began four weeks ago and is only gaining momentum as a snowball.

The fact that the foreign exchange market has joined the flight into reliable assets is alarming. This is a sign that the current sale has gone beyond the profits’ fixation on the stock markets and undermines confidence in future prospects.

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The cryptocurrency market and #Bitcoin in particular did not respond to the stocks indexes negative dynamics. At the moment it turns out that cryptocurrencies demonstrate greater stability than some of the world's largest companies, that's why BTC could attract some of the safe-haven demand.

About a year ago stock markets correction spurred cryptocurrency rates growth. It is also worth noting that cryptocurrency related articles has almost completely disappeared from the mainstream financial publications. Anyway all that’s happening creates favourable background for a more neutral fundamental dynamics.

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