Review your asset allocation.

The foundation of your retirement plan is your asset allocation strategy. This is the optimal mix of stocks, bonds, and cash for your portfolio.  The right mix for you depends on your specific goals, time horizon, and tolerance for risk.  Research shows more than 90% of your long-term investment returns are determined by your asset allocation. Right now is a critical time to review your asset allocation.  While your gut’s saying sell out of stocks entirely, your asset allocation might say to buy more.  Following a sound asset allocation strategy will bring discipline to your decision-making and better long-term returns. Diversify your investments and keep costs down.As the old saying goes, “don’t put all your eggs in one basket.”  Spread your investments across several different mutual funds.  Diversify by size of company through large-cap, mid-cap, and small-cap stock funds.  Get exposure to both growth and value investment styles.  And, don’t forget to include an international fund.Keep your costs down by selecting funds with lower expense ratios.

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Gold has posted strong gains in the Wednesday

Gold has posted strong gains in the Wednesday session, continuing the gains which marked the Tuesday session. In North American trade, the metal is trading above the $1305.38, the first time it’s crossed above the $1300 level since October 4. On the release front, ADP Nonfarm Employment dropped to 147 thousand, well short of the estimate of 166 thousand. Later in the day, the Federal Reserve concludes its policy meeting and is expected to maintain the benchmark interest rate at 0.25 percent. On Thursday, the US releases unemployment claims and the ISM Non-manufacturing PMI.

GBP/USD

Summary :
Target Level : 1.228
Target Period : 2 days
Analysis :
Ascending Triangle identified at 02-Nov-00:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.2280 within the next 2 days.
Supporting Indicators :
Upward sloping Moving Average
Resistance Levels :
( B ) 1.228Last resistance turning point of Ascending Triangle.
Support Levels
( A ) 1.2215Last support turning point of Ascending Triangle.

Chart date range : 19-Oct-16:00 GMT-> 02-Nov-08:00 GMT Data interval : 4 hour RSI: 34 Candles MA: 34 Candles

Brazil's economic activity remained poor in 3Q

Brazil's economic activity remained poor in 3Q, with the industrial sector still a drag. Industrial activity in Sao Paulo, the country's largest and most-industrialized state , dropped 2.3% sequentially in 3Q, says state industrial federation FIESP. "The year will end worse for the industry than in 2015. Maybe the GDP does not fall as much as last year, but industry performance will be worse in 2016."

EUR/GBP

Summary :
Target Level : 0.9027
Target Period : 2 days
Analysis :
Channel Down identified at 24-Oct-04:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 0.9027 within the next 2 days.
Resistance Levels :
( B ) 0.9027Last resistance turning point of Channel Down.
Support Levels
( A ) 0.8881Last support turning point of Channel Down.

Chart date range : 09-Oct-20:00 GMT-> 24-Oct-08:00 GMT Data interval : 4 hour RSI: 34 Candles MA: 34 Candles

EUR/USD

Summary :
Target Level : 1.1056
Target Period : 2 days
Analysis :
Falling Wedge identified at 17-Oct-03:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.1056 within the next 2 days.
Supporting Indicators :
RSI below 40
Resistance Levels :
( B ) 1.1056Last resistance turning point of Falling Wedge.
Support Levels
( A ) 1.0964Last support turning point of Falling Wedge.

Chart date range : 06-Oct-04:00 GMT-> 17-Oct-06:00 GMT Data interval : 1 hour RSI: 34 Candles MA: 34 Candles

GMT Many corporate clients EUR/GBP

GMT Many corporate clients who export to the U.K. or those with production in the U.K. have so far chosen not to hedge their sterling exposure and are waiting instead to see if the pound turns higher, says an analyst at a Scandinavian bank. This is a risky strategy and could mean a scramble to hedge exposures once sterling breaks below key levels, such as below $1.20 in GBP/USD, the analyst says. "It is very risky because if sterling falls further they could fix at an even lower rate." GBP/USD trades at $1.2216, EUR/GBP at 0.9023

GBP/USD has shown limited movement

•GBP/USD has shown limited movement in the Thursday session
•1.2120 is providing support
•There is resistance at 1.2447
Further levels in both directions:
•Below: 1.2120, 1.1954 and 1.1844
•Above: 1.2447, 1.2525 and 1.2612
•Current range: 1.2120 to 1.2447
GBP/USD ratio is unchanged on Friday, consistent with the lack of movement from GBP/USD. Currently, long positions have a solid majority (60%). This is indicative of trader bias towards GBP/USD breaking out and moving to higher ground.
GBP/USD is unchanged in the Friday session, continuing the lack of activity seen on Thursday. Early in the North American session, the pair is trading at 1.2230. On the release front, the markets have plenty of US numbers to digest, as retail sales and inflation readings were strong. Retail Sales rebounded from a decline last month, posting a strong gain of 0.6%. and matching the forecast. Core Retail Sales improved to 0.3%, edging above the estimate of 0.2%. PPI climbed 0.3%, beating the estimate of 0.2%.  Later in the day, we’ll get a look at the UoM Consumer Sentiment report. The markets are expecting the indicator to climb to 92.1 points.

USD/JPY

Summary :
Target Level : 104.073
Target Period : 3 days
Analysis :
Ascending Triangle identified at 12-Oct-01:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 104.0730 within the next 3 days.
Resistance Levels :
( B ) 104.073Last resistance turning point of Ascending Triangle.
Support Levels
( A ) 103.173Last support turning point of Ascending Triangle.

Chart date range : 28-Sep-04:00 GMT-> 12-Oct-06:00 GMT Data interval : 1 hour RSI: 34 Candles MA: 34 Candles

Oil rose towards $52 a barrel on Wednesday

Oil rose towards $52 a barrel on Wednesday, hitting its highest since June, supported by an industry report that U.S. inventories probably fell for a fifth straight week and OPEC’s deal to cut supply.
The American Petroleum Institute (API) said on Tuesday that U.S. crude inventories dropped 7.6 million barrels, which would be the fifth straight weekly decline if confirmed by U.S. Energy Information Administration (EIA) data on Wednesday.
Brent crude was trading at $51.83 a barrel, up 96 cents, at 1204 GMT. The global benchmark touched $51.87 during the session, its highest since June 10. U.S. crude CLc1 was up 91 cents at $49.60.

Global oil prices steadied on Monday

Global oil prices steadied on Monday as market players weighed last week’s news of a planned OPEC production cut with doubts over its implementation and effectiveness at wiping out a crude supply overhang.
December Brent crude futures remained above $50 a barrel in European trading but by 1400 GMT were flat on the day at $50.19 a barrel, after erasing earlier slight gains. U.S. crude futures were $48.23 a barrel, a cent lower.


Europe and Asia’s largest markets, Germany and China, were both shut for public holidays on Monday, limiting trade.
The Organization of the Petroleum Exporting Countries said last week it would cut output to between 32.5 million barrels per day (bpd) and 33.0 million bpd from about 33.5 million bpd, with details to be finalised at its policy meeting in November.
Brent crude oil prices, most sensitive to any OPEC deal, have climbed more than 8 percent since the planned cuts were announced on Wednesday despite scepticism over the effectiveness of the deal in eroding the global surplus.
“Naysayers will undoubtedly fade the headline (of the output cut) and deem the agreement typical OPEC noise, yet at a minimum it means that OPEC has bought themselves a price floor for at least the next two months heading into the November meeting,” analysts at RBC Capital Markets said in a note.

GBP/USD continues to have a quiet week

GBP/USD continues to have a quiet week, as the pair trades at the 1.30 line in Thursday’s North American session. On the release front, it’s a data-heavy day. British Net Lending to Individuals improved to GBP 4.5 billion, beating the estimate of GBP 4.0 billion. In the US, Final GDP gained 1.4%, edging above the forecast of 1.3%. Unemployment Claims edged up to 254 thousand, beating the forecast of 260 thousand. Later in the day, the US releases Pending Home Sales. On Friday, the UK releases Current Account and Final GDP. The US will publish the UoM Consumer Sentiment report.
•GBP/USD posted small losses in the Asian session. The pair was choppy in European trade and has posted slight losses in the North American session
•1.2899 is providing strong support
•1.3033 is a weak resistance line. It could see further action in the North American session
Further levels in both directions:
•Below: 1.2899, 1.2778 and 1.2612
•Above: 1.3033, 1.3142, 1.3219 and 1.3327
•Current range: 1.2899 to 1.3033
GBP/USD ratio is unchanged in the Thursday session. Currently, long positions have a strong majority (72%). This is indicative of trader bias towards GBP/USD reversing directions and moving to higher ground.