{"id":43578,"date":"2020-11-01T01:45:44","date_gmt":"2020-10-31T14:45:44","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=43578"},"modified":"2025-11-17T16:01:27","modified_gmt":"2025-11-17T05:01:27","slug":"monday-2nd-november-weekly-technical-outlook-and-review-heading-into-the-us-elections","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/monday-2nd-november-weekly-technical-outlook-and-review-heading-into-the-us-elections\/","title":{"rendered":"Monday 2nd November: Weekly Technical Outlook and Review Heading into The US Elections"},"content":{"rendered":"<h3><b><span data-contrast=\"auto\">Key risk events today:<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/h3>\n<p><span data-contrast=\"auto\">UK Final Manufacturing PMI; Canada Manufacturing PMI; US ISM Manufacturing PMI.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">(Previous analysis as well as outside sources \u2013 italics).<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<h3><b><span data-contrast=\"auto\">EUR\/USD:<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/h3>\n<p><span data-contrast=\"auto\">Weekly gain\/loss:<\/span><span data-contrast=\"auto\">&nbsp;-1.79%<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly close: 1.1645<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Europe\u2019s single currency subsided nearly 2% against a broadly stronger US dollar last week, side-lining hopes of reaching the 2018 yearly opening value at 1.2004.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">In the shape of a near-full-bodied bearish candle, price dramatically engulfed previous gains and closed within striking distance of support at 1.1621. While a recovery off the aforementioned support is not out of the question this week, follow-through selling highlights the 2019 yearly opening value at 1.1445<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Daily perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Organised in the form of five consecutive daily bearish candles, sellers strengthened their grip from a 61.8% Fibonacci retracement ratio at 1.1856 last week. This sheds light on support at 1.1594 and a 50.0% retracement ratio at 1.1582.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Gnawing through the aforementioned supports this week, however, could be interesting, spinning the limelight to support at 1.1495 and a 38.2% Fibonacci retracement ratio at 1.1514. Also connecting closely with these levels is a potential AB=CD correction (green arrows) at 1.1476 and 1.618 BC projection at 1.1442.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">H4 perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">For those who read Friday\u2019s technical briefing you may recall the following (italics):<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Retesting the 1.17ish region as resistance today may spark a bearish theme, targeting at least H4 Quasimodo support from 1.1626.<\/span><\/i><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Persistent risk aversion benefitting the USD witnessed EUR\/USD pivot lower from the 1.17 handle on Friday in strong fashion, with enough firepower to shift interest to Quasimodo support at 1.1626, followed closely by the 1.16 handle.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Aligning closely with the H4 Quasimodo is weekly support at 1.1621. In addition, daily support takes up position under 1.16 at 1.1594, accompanied by a 50.0% retracement ratio at 1.1582.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Areas of consideration:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"13\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Ultimately, the pair appears headed into reasonably firm support, underlining a possible recovery play this week.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"13\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">H4 Quasimodo support at 1.1626 and weekly support at 1.1621 provide tight support to work with this week, a location 1.17 shorts may look to liquidate partial profits.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"13\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Between the<\/span><span data-contrast=\"auto\">&nbsp;daily<\/span><span data-contrast=\"auto\">&nbsp;<\/span><span data-contrast=\"auto\">50.0% retracement ratio at 1.1582<\/span><span data-contrast=\"auto\">&nbsp;(and&nbsp;<\/span><span data-contrast=\"auto\">daily support at 1.1594)&nbsp;<\/span><span data-contrast=\"auto\">and the 1.16 handle on the H4&nbsp;<\/span><span data-contrast=\"auto\">also&nbsp;<\/span><span data-contrast=\"auto\">gifts traders a reasonably tight area of support&nbsp;<\/span><span data-contrast=\"auto\">this week<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\">&nbsp;<\/span><span data-contrast=\"auto\">in the event we cross lower.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-EUR.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-43583\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-EUR-1024x512.png\" alt=\"\" width=\"660\" height=\"330\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-EUR-1024x512.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-EUR-300x150.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-EUR-768x384.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-EUR.png 1823w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/span><\/p>\n<h3><b><span data-contrast=\"auto\">GBP\/USD:<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/h3>\n<p><span data-contrast=\"auto\">Weekly gain\/<\/span><span data-contrast=\"auto\">loss: -0.72%<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly close: 1.2945<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">The situation on the weekly chart portrays an image of consolidation right now \u2013 perhaps even indecision.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Since the month of October, price has fluctuated between gains\/losses around the 1.2960 neighbourhood.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">The chart shows support at 1.2739, a 2019 yearly opening value that blends with trend line resistance-turned support, extended from the high 1.5930. Concerning resistance, the 2020 yearly opening value is seen at 1.3250.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Should 1.2739 fail, the 1.2251 low (June 29) is in sight, shadowed by Quasimodo support from 1.2163.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">It is also worth pointing out the aforementioned trend line was engulfed in July of this year, announcing an uptrend could be on the cards.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Daily perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">After coming within touching distance of resistance at 1.3200, buyers clearly lost their flavour.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">This, as you can see, triggered modest selling over the course of last week and shined the spotlight on trend line support, extended from the low 1.2075, followed by Quasimodo support at 1.2762. Also close by is the 200-day SMA (orange \u2013 1.2705).<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">H4 perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">The British pound found itself<\/span><span data-contrast=\"auto\">&nbsp;slightly&nbsp;<\/span><span data-contrast=\"auto\">on the winning side of the table against the buck Friday, gleaning fresh impetus off the 1.29 handle and October\u2019s opening value at 1.2925. Despite an earnest effort<\/span><span data-contrast=\"auto\">&nbsp;to sustain upside<\/span><span data-contrast=\"auto\">, the unit corrected south of the 1.30 level.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">As aired in Friday\u2019s technical briefing, although 1.29 holds as support, the higher timeframes suggest sellers still have some gas left in the tank (room is seen to move lower).<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Areas of consideration:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">The 1.29 handle continues to echo instability. A break under the aforementioned number this week potentially sets the stage for a bearish play to 1.28 (limited [active] demand seen to the left of price). Conservative sellers, nonetheless, may opt to wait and see if a 1.29 retest (as resistance) forms before committing.&nbsp;&nbsp;<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Before sellers<\/span><span data-contrast=\"auto\">&nbsp;push beyond 1.29<\/span><span data-contrast=\"auto\">, assuming they do of course, a retest at 1.30 is still&nbsp;<\/span><span data-contrast=\"auto\">also&nbsp;<\/span><span data-contrast=\"auto\">on the table.&nbsp;<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;335559685&quot;:720}\">&nbsp;<a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-GBP.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-43584\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-GBP-1024x511.png\" alt=\"\" width=\"660\" height=\"329\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-GBP-1024x511.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-GBP-300x150.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-GBP-768x383.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-GBP.png 1823w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/span><\/p>\n<h3><b><span data-contrast=\"auto\">AUD\/USD:<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/h3>\n<p><span data-contrast=\"auto\">Weekly gain\/loss:<\/span><span data-contrast=\"auto\">&nbsp;-1.49%<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly close: 0.7026<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">The 2020 (0.7016) and 2019 (0.7042) yearly opening values continue to be recognised as support on the weekly timeframe, both of which are currently under attack due to last week\u2019s 100-pip slump. Resistance at 0.7379 lines up as the next upside hurdle should an advance materialise this week. It should also be pointed out that the trend in this market remains to the upside.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Failure to maintain position off 0.7016\/0.7042 shifts motivation towards support plotted at 0.6677, and a corresponding 38.2% Fibonacci retracement ratio at 0.6701.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Daily perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">In partnership with weekly supports, support on the daily timeframe made an appearance at 0.7017 in the second half of last week. As of&nbsp;Friday\u2019s&nbsp;close, though, buyers have expressed a lack of interest, drawing the light away from tops at 0.7157ish (and resistance at 0.7235) and shifting attention to levels south of 0.7017.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">If a push through 0.7017 is seen this week, support appears to be somewhat light until the 200-day SMA (orange \u2013 0.6799) and support at 0.6751.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">H4 perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Downbeat risk sentiment somewhat boosted demand for the safe-haven greenback Friday and consequently capped AUD\/USD upside off Quasimodo resistance at 0.7068 (clearer level on the H1). As demonstrated on the chart, bearish pressure from 0.7068 guided candles back to the support area at 0.6988-0.7019, an area that encompasses the key figure 0.70 and takes up position just north of Quasimodo support at 0.6971.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Areas of consideration:&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"9\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">The H4 support area at 0.6988-0.7019 is likely to be on the watchlists of many traders this week, on account of where we trade on the bigger picture: weekly and daily supports. The 0.70 handle may also be of particular interest.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"9\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Another possible scenario to be conscious of is a push to H4 Quasimodo support at 0.6971, in order to form a&nbsp;<\/span><i><span data-contrast=\"auto\">bear trap<\/span><\/i><span data-contrast=\"auto\">. The liquidity (protective stop-loss orders) present beneath 0.70, if triggered, becomes sells and provide LQ to buy into. This is the theory anyway!<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-AUD.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-43579\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-AUD-1024x512.png\" alt=\"\" width=\"660\" height=\"330\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-AUD-1024x512.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-AUD-300x150.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-AUD-768x384.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-AUD.png 1825w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/span><\/p>\n<h3><b><span data-contrast=\"auto\">USD\/JPY:<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/h3>\n<p><span data-contrast=\"auto\">Weekly gain\/loss:<\/span><span data-contrast=\"auto\">&nbsp;-0.04%<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly close: 104.64<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Although concluding the week unmoved, the pair managed to chalk up a range between 105.05\/104.02.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Long-term support from 104.70 came under pressure last week, yet price is attempting to keep hold of the level, similar to July and September\u2019s movement. However, the lack of buying pressure seen September onwards has been less than impressive, suggesting the support is fragile as we head into trading this week.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Quasimodo support at 102.55 offers a feasible target beyond current support, while a 104.70 rejection places supply back in the mix at 108.16-106.88.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Daily perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Movement on the daily timeframe is visibly compressing between two converging descending lines taken from 104.18\/106.94, establishing a falling wedge pattern. Due to the series of lower lows and lower highs since March, the current falling wedge is likely to be interpreted as a reversal signal should a breakout higher take shape.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">What\u2019s also interesting from a technical perspective is not only is weekly flow holding at support, the pair is also rebounding from daily support coming in at 104.18.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">H4 perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">The modest risk recovery seen during US hours on Friday undermined demand for the safe-haven Japanese yen, consequently lifting USD\/JPY north of support at 104.52.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">This has shifted the technical radar towards Quasimodo resistance at 104.94 and the round number 105. Although a bearish response from the aforementioned levels is likely to be expected this week, the resistance area above between 105.36-105.14 represents the more attractive base, holding a number of key levels within and benefiting from any buy-stop liquidity above the 105&nbsp;handle.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Areas of consideration:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"12\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">A correction\/retest at H4 support drawn from 104.52, given the charts recognise higher timeframe supports, could encourage a bullish scenario to target the 105 region this week.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"12\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Bearish themes are also a possibility off the 105 handle this week, though the H4 resistance area above the round number is likely more inviting for bearish eyes.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-JPY.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-43586\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-JPY-1024x510.png\" alt=\"\" width=\"660\" height=\"329\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-JPY-1024x510.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-JPY-300x150.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-JPY-768x383.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-JPY.png 1826w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/span><\/p>\n<h3><b><span data-contrast=\"auto\">USD\/CAD:<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/h3>\n<p><span data-contrast=\"auto\">Weekly gain\/loss:<\/span><span data-contrast=\"auto\">&nbsp;+1.48%<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly close: 1.3315<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Higher timeframe action, based on the weekly timeframe, exhibits scope to approach the 2017 yearly opening value at 1.3434, after a week of solid gains north of support at 1.3059 (positioned just above the 2020 yearly opening value at 1.2975).<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">A continuation&nbsp;move&nbsp;above 1.3434 this week places trend line support-turned resistance, taken from the low 1.2061, in the firing range.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Daily perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">From the daily timeframe, however, buyers and sellers are battling for position around resistance at 1.3330. Breaching this level, although there are some tops to contend with around the 1.3420ish neighbourhood, could see buyers hone in on the 200-day SMA (orange \u2013 1.3543), which happens to merge closely with an ABCD bearish pattern and 1.27 BC projection at 1.3507.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">A rejection off 1.3330, however, pins focus on bottoms around the 1.3100 area.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">H4 perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Friday, as you can see, exhibited choppy price action, initiating whipsaws under both October\u2019s opening value at 1.3308 and the 1.33 handle.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">With buyers theoretically weakened around 1.33, this week could have support at 1.3267 make an appearance, established a few pips below a 38.2% Fibonacci retracement ratio at 1.3273. Beyond here, apart from 1.3259, support appears absent until the 1.32 handle and 61.8% Fibonacci retracement ratio.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Should buyers find their feet above 1.33, on the other hand, the 1.34 level jumps out as a feasible upside target, converging with August\u2019s opening value.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Areas of consideration:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"10\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Room for weekly price to rally and test the 2017 yearly opening value at 1.3434 could see H4 candles continue to grip the 1.33 handle this week and take a shot at the 1.34 base. Buyers off 1.33, in light of Friday\u2019s&nbsp;<\/span><i><span data-contrast=\"auto\">mess<\/span><\/i><span data-contrast=\"auto\">, are likely to seek H4 candlestick confirmation before pulling the trigger.&nbsp;<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"10\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">H4 support is a tidy area at 1.3267, arranged nearby a 38.2% Fibonacci retracement ratio at 1.3273.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"10\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Longer-term, traders could be looking at the space above daily resistance from 1.3330 in favour of a rally to complete the ABCD bearish pattern around the 200-day SMA at 1.3500\/50ish.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;335559685&quot;:720}\">&nbsp;<a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-CAD.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-43580\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-CAD-1024x510.png\" alt=\"\" width=\"660\" height=\"329\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-CAD-1024x510.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-CAD-300x149.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-CAD-768x383.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-CAD.png 1825w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/span><\/p>\n<h3><b><span data-contrast=\"auto\">USD\/CHF:<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/h3>\n<p><span data-contrast=\"auto\">Weekly gain\/loss:<\/span><span data-contrast=\"auto\">&nbsp;+1.43%<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly close: 0.9165<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">The week witnessed weekly price reclaim previous losses ahead of support at 0.9014.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">For those who read previous analysis on this pair, you will also note current support is bolstered by ABCD support at 0.9051 (black arrows).&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">An extension to the upside going forward throws resistance at 0.9255 back into the spotlight, a previous Quasimodo support level.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Daily perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">The story on the daily timeframe reveals price spent the week closing in on resistance at 0.9187, after bottoming a touch above Quasimodo support at 0.9009. A decisive break higher this week exposes trend line resistance, extended from the high 0.9901.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">H4 perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Following Thursday\u2019s short-lived retest at 0.91 (assisted by H4 support at 0.9091 and trend line resistance-turned support [0.9295]), USD\/CHF entered into a phase of consolidation Friday, balanced just above August\u2019s opening value at 0.9135.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Also registering a fifth consecutive daily gain Friday, H4 has eyes on Quasimodo resistance at 0.9184, closely followed by the 0.92 handle and October\u2019s opening value at 0.9206.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Areas of consideration:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Retesting August\u2019s opening value at 0.9135 on the H4 could be a scenario we see play out, movement that possibly interests buyers, with room to advance to H4 Quasimodo resistance at 0.9184. We can also see there\u2019s still space for USD\/CHF to rally on the higher timeframes, too.&nbsp;<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Should a rally come to pass this week, bearish themes off H4 Quasimodo resistance at 0.9184 could take form, converging with daily resistance at 0.9187.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-CHF.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-43581\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-CHF-1024x511.png\" alt=\"\" width=\"660\" height=\"329\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-CHF-1024x511.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-CHF-300x150.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-CHF-768x383.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-CHF.png 1824w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/span><\/p>\n<h3><b><span data-contrast=\"auto\">Dow Jones Industrial Average:<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/h3>\n<p><span data-contrast=\"auto\">Weekly gain\/loss:<\/span><span data-contrast=\"auto\">&nbsp;-6.01%<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly close: 26614<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Wrapping up its worst month since March, price concluded lower by a whopping 1,700 points in the final full week before the US election.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Technical price action is seen occupying the upper base of demand at (green) 25916-26523, which if a break eventually comes to pass could direct price flow towards the 2018 yearly opening value at 24660. Should buyers regain consciousness this week, the 2020 yearly opening value at 28595 is seen.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Daily perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Alongside the weekly demand area, daily price crossed swords with the 200-day SMA (orange \u2013 26163) on Friday and established a hammer candlestick pattern. Technically, this may feed a bullish vibe this week. Support at 24934, however, is next on tap should sellers jump back in the driving seat.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">H4 perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">At the close of trade Friday (New York), US equity benchmarks finished lower across the board.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">The Dow Jones Industrial Average shed 157.51 points, or 0.59%, the S&amp;P 500 declined 40.15 points, or 1.21% and the Nasdaq traded lower by 274.00 points, or 2.45%.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Quasimodo support at 26291 recently became active, a level that withstood a number of violent downside attempts on Friday (just missing support priced in at 26019 but enough to obviously draw in the 200-day SMA on the daily timeframe). As evident from the chart, a H4 outside reversal formation also formed into the close, prompting a bullish course towards resistance at 27032.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Areas of consideration:&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"11\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">H4 Quasimodo support at 26291<\/span><span data-contrast=\"auto\">&nbsp;<\/span><span data-contrast=\"auto\">could be enough to entice a recovery this week<\/span><span data-contrast=\"auto\">, knowing the area shares space with weekly demand at&nbsp;<\/span><span data-contrast=\"auto\">25916-26523,<\/span><span data-contrast=\"auto\">&nbsp;as well as<\/span><span data-contrast=\"auto\">&nbsp;Friday\u2019s<\/span><span data-contrast=\"auto\">&nbsp;H4<\/span><span data-contrast=\"auto\">&nbsp;bullish candlestick print and daily price shaking hands with the 200-day SMA<\/span><span data-contrast=\"auto\">&nbsp;in the form of a hammer candle pattern<\/span><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-DOW.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-43582\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-DOW-1024x510.png\" alt=\"\" width=\"660\" height=\"329\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-DOW-1024x510.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-DOW-300x150.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-DOW-768x383.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-DOW.png 1824w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/span><\/p>\n<h3><b><span data-contrast=\"auto\">XAU\/USD (GOLD):<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/h3>\n<p><span data-contrast=\"auto\">Weekly gain\/loss:<\/span><span data-contrast=\"auto\">&nbsp;-1.21%<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly close: $1,878<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Weekly perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">The precious metal whipsawed through support at $1<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\">882 in recent trading and spiked to lows at $1,860. This, as you can see, just missed channel resistance-turned support, taken from the high $1,703.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Traders are urged to pencil in supports at $1,787 and $1,738 in the event buyers fail to make an appearance. Though should a wave of buying emerge, long-term traders\u2019 crosshairs are likely focussed on the all-time peak $2,075.<\/span><i><span data-contrast=\"auto\">&nbsp;<\/span><\/i><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Daily perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">The daily timeframe appears to be in the process of creating a falling wedge pattern between $2,015 and $1,862 (the lower boundary also lines up closely with support at $1,841), which&nbsp;<\/span><i><span data-contrast=\"auto\">may<\/span><\/i><span data-contrast=\"auto\">&nbsp;be interpreted as a continuation signal in the event of a breakout north.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">The noted support level is a level to keep an eye on this week, due to not only weekly structure displaying support, but also because the yellow metal has been DECISIVELY gravitating higher since 2016 (although price has been trending higher much longer than this overall).<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">H4 perspective:<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Friday took to higher levels, extending Thursday\u2019s recovery off lows at $1,860 (ahead of Quasimodo support at $1,852). Resistance at $1,886 put on a show as we moved into US hours, a level located just south of another area of resistance between $1,897-$1,892.&nbsp;&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">Areas of consideration:&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Weekly support at $1<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\">882 is under pressure. This, in addition to room seen for daily price to approach support at $1,841, might be enough to encourage traders to pursue bearish setups this week off either H4 resistance at $1,886 or resistance between $1,897-$1,892.&nbsp;<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Long term, nonetheless, an eventual breakout above the daily falling wedge could spark bullish moves off weekly supports ($1,882 or channel support).<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;335559685&quot;:720}\">&nbsp;<a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-GOLD.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-43585\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-GOLD-1024x510.png\" alt=\"\" width=\"660\" height=\"329\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-GOLD-1024x510.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-GOLD-300x150.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-GOLD-768x383.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2020\/10\/2020-11-02-GOLD.png 1826w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/span><\/p>\n<p><span data-contrast=\"auto\">The accuracy, completeness and timeliness of the information contained on this site cannot be guaranteed. IC Markets does not warranty, guarantee or make any representations, or assume any liability regarding financial results based on the use of the information in the site.&nbsp;<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">News, views, opinions, recommendations and other information obtained from sources outside of www.icmarkets.com.au, used in this site are believed to be reliable, but we cannot guarantee their accuracy or completeness. All such information is subject to change at any time without notice. IC Markets assumes no responsibility for the content of any linked site.&nbsp;<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:142,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/p>\n<p><span data-contrast=\"auto\">The fact that such links may exist does not indicate approval or endorsement of any material contained on any linked site. IC Markets is not liable for any harm caused by the transmission, through accessing the services or information on this site, of a computer virus, or other computer code or programming device that might be used to access, delete, damage, disable, disrupt or otherwise impede in any manner, the operation of the site or of any user\u2019s software, hardware, data or property<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Europe\u2019s single currency subsided nearly 2% against a broadly stronger US dollar last week, side-lining hopes of reaching the 2018 yearly opening value at 1.2004.\u00a0<\/p>\n<p>In the shape of a near-full-bodied bearish candle, price dramatically engulfed previous gains and closed within striking distance of support at 1.1621.<\/p>\n","protected":false},"author":8,"featured_media":81071,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[340,215,339,195],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/43578"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=43578"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/43578\/revisions"}],"predecessor-version":[{"id":81092,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/43578\/revisions\/81092"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/81071"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=43578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=43578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=43578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}