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