Trading plan for October 2

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At first, let’s take a look at the economic calendar at fbs.com. One of the most important events for Tuesday will be a release of the official rate by the Central bank of Australia. It is expected to stay at the same level of 1.5%.

Other important events from the calendar are related to the US dollar. The speech from Federal open market committee member is scheduled at 5 o’clock in the afternoon MetaTrader time, while the speech of the Chair himself is planned at 7:45 in the evening MetaTrader time. We’ll see how they can influence the USD performance.

Now let’s switch to the charts. This weekend was significant for the pair USD/CAD as the United States and Canada finally reached an agreement on NAFTA future. Since now, it has been called USMCA which stands for United States-Mexico-Canada agreement. The news affected the pair USD/CAD heavily. The pair dropped below 1.2865 which is the 200-day moving average. As we can see, it is moving towards the support at 1.2787. In case of any positive news for the USD, the resistance is at 1.2847.

As for AUD/USD, the Australian currency is moving downwards the support at 0.7177. Any positive statements from the bank of Australia tomorrow will raise the price to the resistance at 0.7246.

Let’s look at the chart for EUR/USD. The EUR is weak because of Italian budget problems. Up to now, the pair crossed the 50-day moving average and decreasing to the support at 1.15. If there is any positive news concerning the euro, the resistance is at 1.161. The next resistance is at 1.1661.