GBPUSD - A fall is possible.

On the daily chart, the downward fifth wave of the higher level V of (V) develops, within which the wave (5) of V forms. Now, the third wave of the lower level 3 of (5) has formed, a local correction has ended as the fourth wave 4 of (5), and the development of the wave 5 of (5) has started, within which the wave iii of 5 is forming.

If the assumption is correct, the GBPUSD pair will fall to the area of 1.02 – 1. In this scenario, critical stop loss level is 1.1501.

Netflix - Technical Analysis

Shares of Netflix, an American entertainment company, are on a corrective trend at 230. On the daily chart, the price is showing a poor upward momentum, trying to reach the initial Fibonacci 23.6% retracement at 288. The four-hour chart shows that the potential for upward and downward movement is approximately equal since the quotes are moving in a narrow sideways corridor of 212–250 Soon, the price may test the upper limit of the channel at 250, consolidation above which will open the way to 288.

ETHUSD - Murray analysis

This week, the quotes have overcome the mark of 1321 (Fibo retracement 61.8%, the middle line of the Bollinger Bands) and can continue to grow to the upper limit of the lateral range of 1375, which will allow them to leave the descending channel and rise to the levels of 1450 (Fibo retracement 50.0%), 1500 (Murray [4/8]) and 1575 (Fibo retracement 38.2%). The reverse consolidation of the price below the level of 1321.00 will give the prospect of a return to the lower limit of the trading range of 1250, however, the resumption of serious downward dynamics is possible only in case of its breakdown. In this case, the targets will be 1125 (Murray [1/8]) and 1000 (Murray [0/8]).

Resistance levels: 1375, 1450, 1500, 1575 | Support levels: 1250, 1125, 1000

XAUUSD - The "bulls" reduce positions in the asset

The situation on the gold market is still ambiguous: historically, the precious metal has always been a refuge in case of geopolitical tensions, but at the moment, its quotes are under pressure from high interest rates and, as a result, a growing dollar. The hawkish monetary policy provokes an increase in government bonds yield, which are more reliable than gold, and high rates (4% on 10-year bonds) additionally attract investor capital into bonds. Also, since the price of gold is denominated in dollars, the latter's growth will always make the metal cheaper, which is now observed.

On the daily chart of the asset, the price is moving in a downward channel, approaching the support line.

Resistance levels: 1672, 1730 | Support levels: 1620, 1570

USDCAD - Growth is possible.

On the daily chart, the upward fifth wave of the higher level 5 forms, within which the wave (1) of 5 formed, the correctional wave (2) of 5 ended, and the wave (3) of 5 forms. Now, the third wave of the lower level 3 of (3) is forming, within which a local correction has ended as the fourth wave iv of 3, and the wave v of 3 is developing.

If the assumption is correct, the USDCAD pair will grow to the area of 1.41 – 1.43. In this scenario, critical stop loss level is 1.3645.

AUDUSD - Australian labor market under pressure

Today's report on the labor market did not support the Australian currency: unemployment in the country remained at 3.5%, and its growth compared to August was less than 0.1%. The number of unemployed increased by 9.0K to 499.4K people, and their percentage among young people decreased to 7.9%, while the employment-to-population ratio corrected to 64.2% from 64.3% a month earlier. In turn, full-time employment increased by 13.3K people, and part-time employment decreased by 12.4K people, reinforcing the negative trend of previous months, as citizens strive for stable work in the face of rapid inflation and higher interest rates on loans.

On the daily chart of the asset, the price is falling within the local channel, holding near the support line. Technical indicators maintain a stable sell signal: fast EMAs on the Alligator indicator are kept significantly from the signal line, and the AO oscillator histogram is deep in the sell zone.

Resistance levels: 0.632, 0.65 | Support levels: 0.62, 0.605

ADAUSD - Murrey analysis

The ADAUSD pair is moving within a short-term downtrend and this week reached the year's lows around 0.3418 (Murrey [–2/8]). Fixing the price below this level will give the prospect of further decline to 0.3173 (Murrey [–2/8] for H4) and 0.2900 (the lower border of the downwards channel). The key point for the "bulls" remains 0.3906 (Murrey [8/8]), supported by the middle line of Bollinger Bands. If it consolidates above it, the price will return to the main Murrey trading range and can rise to the area of 0.4150 (Murrey [1/8], upper downwards channel border) or 0.4395 (Murrey [2/8]).

Resistance levels: 0.3662, 0.3906, 0.415, 0.4395 | Support levels: 0.3418, 0.3173, 0.29

Gold - Growth is possible.

On the daily chart, a downward correction developed as the fourth wave of the higher level (4), within which the wave C of (4) formed as a momentum. Now, the development of the fifth wave (5) has started, within which the first entry wave of the lower level (i) of i of 1 of (5) has formed, and a local correction ended as the wave (ii) of i of 1 of (5).

If the assumption is correct, the pair XAUUSD will grow to the area of 1808.78–1861.30. In this scenario, critical stop loss level is 1613.92.

NI 225 - foreign trade indicators impede the growth of the index

The leading Japanese stock index NI 225 continues to correct, trading near the level of 26881.0.

According to the latest report from the Japanese Ministry of Finance, Exports in September increased by 28.9% compared to the same period in 2021, amounting to 8.819 trillion yen, while Imports added 45.9%, reaching record 10.913 trillion yen. Thus, Japan's trade deficit has already amounted to 2.094 trillion yen, which is another record both in size and in duration, as the negative trade balance has been maintained for 14 consecutive months. The data released today showed a 0.4% increase in the National Consumer Price Index in September in monthly terms and 3.0% in annual terms. The indicator has been growing for the eighth month in a row, which is beginning to cause doubts among market participants about the continuation of the "dovish" policy and the negative interest rate retention by the Bank of Japan.

On the daily chart of the asset, the price remains within the local lateral corridor, holding near the support line. Technical indicators keep a sell signal despite the local correction: the histogram of the AO oscillator remains in the sell zone, forming new ascending bars, and fast EMAs on the Alligator indicator are below the signal line.

Support levels: 26350, 25500 | Resistance levels: 27400, 28400

GBPUSD Technical Analysis

The GBPUSD pair resumes its negative trades to support the continuation of the bearish trend for the rest of the day, reminding you that our main targets begin at 1.1055 and extend to 1.0920 as next main stations, supported by the negative pressure formed by the EMA50, while the price needs to hold below 1.1290 to continue the expected decline.

The expected trading range for today is between 1.1080 support and 1.1220 resistance. The expected trend for today: Bearish.

GBPUSD - Under the pressure of the domestic political crisis in the UK

This week can be seen as the official start of a new race for prime minister after incumbent and Conservative Party chief Liz Truss announced her resignation amid widespread criticism of her proposed tax reform. Currently, only one real favorite is known – the former finance minister Rishi Sunak, supported by most current officials (178 out of 357 deputies). In turn, former Prime Minister Boris Johnson, who announced his readiness to compete for the post on Friday, has already fallen out of the race, having failed to enlist the support of at least 100 party members and gained only 59 votes. The electoral process must be completed by October 28. Today will be presented data on business activity in the manufacturing and services sectors, from which analysts expect a continued decline from 48.4 points to 48 points and from 50 points to 49.6 points, respectively.

The trading instrument moves within the long-term downward channel toward the resistance line.

Resistance levels: 1.148, 1.18 | Support levels: 1.1178, 1.0925