23.10.201808:23 Forex-elemzések és áttekintések: Trading plan for 23/10/2018

The climate in the markets is again set by the stock market, and in Asia after two days of increases comes rebound after Monday's trade in Europe and the US has taken a negative turnover. On the currency market USD and JPY, they remind you of their safe-haven status.

Markets have a negative bag of reports from Italy regarding Brexit and a diplomatic dispute with Saudi Arabia. Such a climate was conducive to profits after two days of Shanghai stock exchange increases and today Shanghai Composite loses 1.5%. There are also Japanese Nikkei225, which is down by 2.4%.

On Monday, Wall Street SP500 fell 0.43 percent, and a series of better quarterly companies' results overshadowed fears about the escalation of geopolitical risk. US President Trump is not satisfied with the translations of Saudi Arabia regarding the murder of journalist Jamal Khashoggi. Earlier, several countries, including Germany, the United Kingdom, France and Turkey, pressed on Saudi Arabia to present all the facts.

In the currency market we have a typical departure towards safe havens, although the changes are small (<0.25%). AUD and NZD are the largest injured changes in sentiment. USD / JPY moves back to 112.50, and EUR / USD has dropped to 1.1453. In the latter case, concern about the budget of Italy is a concern. Speculation that the Eurosceptic Tory faction intends to file a vote of no confidence against Prime Minister May is pushing the GBP down to USD 1.2950.

On Tuesday the 23rd of October, the event calendar is light in important data releases, but the global investors should keep an eye on PPI data from Germany and the Consumer Confidence data from the whole Eurozone.

Crude Oil analysis for 23/10/2018;

WTI oil prices are falling on Tuesday (-0.3 percent to 69.15 USD / b) after Saudi Arabia has committed itself to a "responsible role" in energy markets, although the sentiment remained nervous in the run-up to US sanctions on exports Iran, which will become effective from November.

Let's now take a look at the Crude Oil technical picture at the H4 time frame. The market is about to test the important technical support zone between the levels of 67.93 - 68.35 after the attempt to break out above the level of 69.76 has failed. The negative momentum supports the short-term bearish bias.