Intraday Analysis - Thursday, Oct. 15

US 30 licking its wounds

US 30 Indices are still feeling the effects of the latest collapse as prices attempt to cover some losses.

• The price is capitalising on a test at 52000, suggesting that the market mood has turned upbeat again.

• Buyers have moved bids right under the previous consolidation zone around 51700.

• A successful breakout would lead prices towards 52400.

• 50800 at the base of the latest momentum is a critical support.
  

USDCHF aiming higher

The dollar edged higher as the franc looks to break free of the current consolidation.

• There are signs that sentiment has improved, as a momentary spike at 0.8340 looks to have shaken out some weaker hands.

• A close back above 0.8370 could open the door to a prolonged extension.

• 0.8240 at the base of the latest breakout is the main support if prices fall through 0.8300.

XAUUSD hits the barrier

Bullion moves lower even as ongoing global tensions and further trade conflicts drive traders to safe-haven assets.

• The precious metal is slowly grinding a layer of support around 4140.

• The buy side has become more defensive but may not have the final say.

• A drop lower would lead to 4085, and a bearish RSI divergence could lead to a consolidation phase.

• 4240 is the target higher if buyers re-enter the market