Useful tips from our expert for a profitable month
Useful tips from our expert for a profitable month
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| Do you have plans for trading in October? | | Hello, LIPI SULTANA! | | I am Kirill Belyaev, and I am on the FBS analytics team. We closely monitor the market daily to offer tips and signals that will help you trade more confidently. | | Today, I’d like to offer some ideas on the instruments you may want to add to your portfolio in the coming weeks. |
| | Ideas for your portfolio in October |
|  | XBRUSD |
| | In September, Russia and Saudi Arabia announced that they would keep cutting oil supply until the end of 2023 (while it was expected to only last another month). | | As a result, the price confidently broke out of the $70—$89 range, where it had been stuck since last year. The upward direction is now open, and the former resistance zone at $89.00 should provide firm support. | | The major resistance level remains at $98.00. Traders may consider using this wide range from $89.00 to $98.00 for trading in October. | | Summary | | Trend: Bullish | | Support: 89.00 | | Resistance: 98.00 |
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| |  | USDJPY |
| | October will be a crucial month for the USDJPY currency pair. Higher oil prices increase inflation risks, boosting the US dollar. At the same time, the Bank of Japan doesn’t hint at any changes in its monetary policy. | | If nothing changes, sellers may lose the 149.00—152.00 resistance range, opening the way to 162.00. But if the Bank of Japan tightens its monetary policy, a solid reversal to 138.50 will occur. | | In any case, USDJPY will be an interesting instrument to trade in October. | | Summary | | Trend: Bullish | | Resistances: 149.00, 152.00, 160.00 | | Support: 138.50 |
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| |  | BTCUSD |
| | Risky assets have been under pressure recently due to the US dollar’s strengthening, and Bitcoin is no exception. We see the cryptocurrency market struggling due to unclear regulations, Binance problems, and the quantitative tightening policy. | | Some good news and the US dollar weakening can push the BTCUSD above the descending resistance trendline. This will open the way toward the range from 28 900 to 30 300. | | However, if buyers lose the 25 000 support, the number one cryptocurrency may fall to as low as 20 000. | | Summary | | Trend: Flat, sideways | | Resistances: 27 700, 28 900, 30 300 | | Support: 25 000, 20 000 |
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| | | Other channels with analytics | | Remember that all the longer-term forecasts tend to be less accurate than the short-term ones. So, make sure you follow us in the channels where we post daily updates and tips. | | | | | | |
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| | *FBS tips and analytics do not constitute a call to trade, trading advice or recommendation and are for information only. |
| | | | | | Help Center | Personal Area | | You received this email because you registered at fbs.com. | | If you have any questions, please contact us via email at support@fbs.com | | | | Risk warning: Before you start trading, you should completely understand the risks involved with the currency market and trading on margin, and you should be aware of your level of experience. | | |
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