Forex forecasts and market outlooks

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15.11.2019 - 09.11.2019

EUR/JPY: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is Tenkan-sen line (119.53). The closest resistance level is the lower border of the cloud (119.73).

GBP/NZD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (2.0172). One of the previous maximums of Chikou Span line is expected to be a resistance level (2.0340).

EUR/GBP: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (0.85532). The closest resistance level is Tenkan-sen line (0.85671).

EIA Crude Oil Inventories. USA, 18:00 (GMT+2)

At 18:00 (GMT+2), the Energy Information Administration (EIA) will publish a weekly report on oil and petroleum product inventories. The report contains data on changes in the volume of crude oil, as well as gasoline and distillates in the United States. An increase in reserves tends to put pressure on oil prices. Oil reserves are expected to grow for the third consecutive week, this time by 1.600 million barrels. If the forecast proves correct, it may put pressure on the oil prices.

Exxon Mobil Corp. (XOM/NYSE): general review

Since the end of last week, Exxon Mobil shares have been declining and are currently trading at a premium of 5% to December 52-week high.  In early November, the company reported for Q3 2019. Earnings per share fell by 53% (YoY) to USD 0.68, exceeding market expectations. Revenue fell by 15% (YoY) to USD 65.06 billion, below expectations of The Wall Street.

Cisco Systems Inc. (CSCO/NASD): general analysis

Cisco shares have added more than 5% since the October 10-month low and are currently trading at the monthly maximum. Yesterday, November 13, after the market closed, the company reported for the first quarter of fiscal 2020 with results higher than Wall Street's expectations. Revenue remained virtually unchanged at $13.16 billion, earnings per share increased 12% YoY to $0.84.