Currency Zone

EUR/USD Intraday: consolidation.

Pivot: 1.1455

Our preference: short positions below 1.1455 with targets at 1.1405 & 1.1390 in extension.

Alternative scenario: above 1.1455 look for further upside with 1.1475 & 1.1500 as targets.

Comment: the RSI shows downside momentum.


USD/JPY Intraday: the upside prevails.

Pivot: 113.45

Our preference: long positions above 113.45 with targets at 114.00 & 114.20 in extension.

Alternative scenario: below 113.45 look for further downside with 113.20 & 112.95 as targets.

Comment: the RSI shows upside momentum.


GBP/USD Intraday: under pressure.

Pivot: 1.3160

Our preference: short positions below 1.3160 with targets at 1.3105 & 1.3070 in extension.

Alternative scenario: above 1.3160 look for further upside with 1.3200 & 1.3235 as targets.

Comment: a break below 1.3105 would trigger a drop towards 1.3070.


EUR/GBP Intraday: under pressure.

Pivot: 0.8725

Our preference: short positions below 0.8725 with targets at 0.8690 & 0.8670 in extension.

Alternative scenario: above 0.8725 look for further upside with 0.8745 & 0.8770 as targets.

Comment: the RSI shows downside momentum.


USD/ZAR intraday: rebound

Our pivot point is at 13.8400.

Our preference: rebound.

Alternative scenario: below 13.8400, expect 13.7290 and 13.6630.

Comment: the RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the pair is trading above its 20 MA (13.9147) but under its 50 MA (13.9587).

Tech Stuff you need to know today

This is the tech news you need to know this Wednesday.

Amazon employees are gearing up to confront CEO Jeff Bezos at an all-staff meeting this week about selling facial recognition software to law enforcement. Employees are urging their colleagues to put pressure on the company at an all-staff meeting Thursday by inundating CEO Jeff Bezos with questions, Recode reports.
Reddit’s Alexis Ohanian says “hustle porn” is “one of the most toxic, dangerous things in tech right now” at Web Summit on Tuesday. “Hustle porn” is the fetishization of extremely long working hours, and Ohanian said he let his own mental health go when he built Reddit.
Marc Benioff invited Elon Musk to dig tunnels in San Francisco for a new transportation system, and the Tesla founder accepted. The Salesforce CEO asked Musk on Twitter whether the Boring Company could come to San Francisco, and Musk replied: “Sure, we can do it.”
Facebook said that the 100 accounts it removed ahead of the midterm elections for “inauthentic behavior” may well be Russian. Facebook’s head of cyber security policy told TechCrunch that the company blocked over 100 accounts after receiving a tip-off from law enforcement that they could be connected to the Russia-based Internet Research Agency.
A federal judge ruled that chip seller Qualcomm must license some of its technology to competitors. The preliminary ruling came in an antitrust lawsuit against Qualcomm brought by the US Federal Trade Commission in early 2017.
The FCC is calling for all phone carriers to implement effective caller ID by 2019. The FCC’s Chairman Ajit Pai said this was important in combating “illegal robocalls.”
The president of Samsung says “we should really worry about ethics” as artificial intelligence moves into your DNA.Samsung Electronics president Young Sohn told Business Insider about his concerns around AI exploits health and DNA data.
One of Microsoft’s fastest-rising stars is leaving the company with the intention of “getting back to building new things.” Javier Soltero, who came to Microsoft after his startup, Acompli, was acquired in 2014, is leaving after four years.
Samsung is hinting that it will reveal its long-awaited foldable phone on November 7. Samsung’s foldable phone has been nicknamed “Galaxy F” and “Galaxy X.”
Tinder’s paying user base went up from 3.8 million last quarter to 4.1 million this quarter, and is projected to bring in $800 million in revenue this year. Tinder’s parent company Match Group surpassed its forecasted revenue for Q3.

10 things you need to know in markets today

1. Most of the US midterm election results are in: Democrats are projected to take control of the House of Representatives, and Republicans are projected to hold onto their majority control of the US Senate in the new year.

2. Former US Treasury secretary Hank Paulson told a forum in Singapore that if the US decouples from China, then it will likely isolate itself from the region and trigger a “full-blown” cold war. Paulson spoke of an “economic iron curtain” cleaving the world into estranged spheres should the US and China fail to resolve their burgeoning strategic differences.

3. Finnish mobile telecom network maker Nokia announced on Wednesday that it had signed frame deals with China Mobile,China Telecom and China Unicom worth more than 2 billion euros ($2.3 billion).

4. China says it has new surveillance camera technology that can recognise you just from how you walk.“Gait recognition” technology has reportedly already been rolled out and is an improvement over facial recognition.

5. US Secretary of State Mike Pompeo’s trip witha senior North Korean envoy has been postponed.The State Department mentioned scheduling in a short statement but offered no reason for the delay.

6. French police have reportedly arrested six over a plot to attack President Emmanuel Macron. This is just days after he likened Europe’s extreme right to Nazis.

7. Carmaker BMW on Wednesday reported a 27% drop in third-quarter operating profit to 1.75 billion euros ($2 billion), missing analyst expectations amid currency headwinds and higher research and development expenses.

8. German sportswear firm Adidas hiked its 2018 profit guidance, citing a strong financial performance in the first nine months of the year, but trimmed revenue target due to weaker-than-expected growth in western Europe.

9. Some Saudis are calling for a boycott of Amazon to hit back at Jeff Bezos in response to The Washington Post’s coverage of Jamal Khashoggi’s murder. Bezos owns the Washington Post, where murdered Khashoggi was previously a columnist.

10. US President Donald Trump rushed more than 5,000 troops to the border to lay razor wire. The wire was laid in preparation for the arrival of migrant caravans consisting of potentially thousands of people from across Latin America.