Market Commentary 10-18-2020 – NZDUSD AUDUSD USDCHF EURUSD GBPUSD

D1 Analysis:

• NZDUSD
  • The 0.651471 level held and we are expecting sideways movement in between 0.675886 and 0.651471 in the upcoming weeks.
  • If the 0.651471 level breaks then we can expect a reversal to short
  • If the 0.675886 level breaks then we can expect a push to the 0.681232 level and long trend continuation
• AUDUSD
  • We can expect some sideways movement in the upcoming weeks
  • Key Levels are 0.725626 and 0.702139
• USDCHF
  • trend reversal is still following all rules
  • We had the correction expected last week and now can expect a bounce back to the upside to continue the long trend or potential sideways movement for a bit
  • If key level 0.913598 does not hold then we will expect further correction and will exit trade
• EURUSD
  • The short reversal is still following all rules
  • We experienced a further drop and then correction for completion of leg 1
  • We can expect sideways movement or continuation to the downside in the upcoming weeks
  • Key level to watch for is 1.186067.  If it breaks to the upside then we exit and wait for another setup
• GBPUSD
  • Fulfilled the sideways movement we were expecting last week
  • If price breaks below 1.262537 then we can expect full trend reversal to the downside with next target of 1.255473