FX.co ★ Indicator analysis. Daily review of EUR/USD and GBP/USD pairs on October 6, 2017

EUR / USD pair

Trend analysis (Figure 1)

On Thursday, the market trailed downwards as the news and technical analysis showed a single direction, and a strong rally moved down. On Friday, the market would likely to continue its downward movement. Complex analysis will more accurately tell where the price will go.

Figure 1 (daily chart).

Indicator analysis on the daily schedule (Figure 2).

The system of ADX indicators (Figure 2).

On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved up. In this case, the trend should be determined by trend type indicators.

MACD Indicator (period 5/8/13).

The linear part of the MACD indicator.

Fast line (signal) - a line of white color.

The slow line (main line) is the blue line.

The result for the linear part of the MACD indicator is an upward trend.

MACD Histogram (Indicator)

Histogram - columns of black color.

The result of the MACD histogram shows an upward trend.

Overall: the MACD indicator on the daily chart shows an upward trend.

Middle lines of the EMA.

The daily chart uses the following midlines.

1 middle EMA line - the color is white (first shadow).

5 the middle line of the EMA - the color is red (the first shadow).

8 middle EMA line - the color is blue (the first shadow and trend).

13 the middle line of the EMA - the color is yellow (trend).

21 middle EMA line - the color is brown (trend).

At the last run 8, the middle EMA line (blue) moved down, which is below the 13th EMA midline (yellow) - the signal of the bottom work.

21, the middle EMA line, moves down, which is above the 13th EMA midline, strengthening the lower work signals.

The bottom line: the EMA middle line system on the daily chart shows a downward trend.

The probability distribution of the indicators are as follows:

the average EMA lines are 24% down;

MACD indicator (linear part) - 38% up;

the MACD indicator (histogram) is 38% higher.

The result of the indicator analysis indicates the price will have an upward trend.

Figure 2 (daily chart).

Complex analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- volumes - upwards;

- candle analysis - neutral;

- trend analysis - down;

- Bollinger lines - up;

- Weekly schedule - up.

General conclusion.

On Friday, the market may continue to move down to 1.1678 and then go up. But highly depends on the strong news.

GBP / USD Pair

Trend analysis (Figure 1)

On Thursday, the market moved downwards with the news and technical analysis. On Friday, the market was likely to resume its downward movement. Complex analysis will more accurately tell where the price will go.

Figure 1 (daily chart).

Indicator analysis on the daily schedule (Figure 2).

The system of ADX indicators (Figure 2).

On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved up. In this case, the trend should be determined by the trend type indicators.

MACD Indicator (period 5/8/13).

The linear part of the MACD indicator.

Fast line (signal) - a line of white color.

The slow line (main line) is the blue line.

The result of the MACD indicator is a downward trend.

MACD Histogram (Indicator).

Histogram - columns of black color.

The result of the MACD histogram shows a downward trend.

Overall: the MACD indicator on the daily chart shows a downward trend ..

Middle lines of the EMA.

The daily chart uses the following midlines.

1 middle EMA line - the color is white (first shadow).

5 the middle EMA line - the color is red (the first shadow).

8 middle EMA line - the color is blue (the first shadow and trend).

13 the middle EMA line - the color is yellow (trend).

21 middle EMA line - the color is brown (trend).

At the last run 8, the middle EMA line (blue) moved down, which is below the 13th EMA midline (yellow) - the signal of the bottom work.

21 the middle EMA line, moves down, which is below the 13th EMA midline, weakening the signals of the bottom work.

The bottom line: the EMA middle line system on the daily chart shows a downward trend.

The probability distribution of the indicators are as follows:

the average EMA lines are 24% down;

the MACD indicator (linear part) - 38% down;

the MACD indicator (histogram) is 38% down.

The result of the indicator analysis indicates that the price will have a downward trend.

Figure 2 (daily chart).

Complex analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candle analysis - neutral;

- trend analysis - down;

- Bollinger lines - up;

- Weekly schedule - down.

General conclusion.

On Friday, the GBP/USD pair may move down. The initial target is 1.3019. But highly depends on the strong news.