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Home / Analytics / Forex analysis & forecasts / Market Overview / Morning Call. Market Overview for 05.10.2016
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Morning Call. Market Overview for 05.10.2016


The Big Picture

To give you the big picture, we will statistical analyze the performance of the above investment products over the last 10 years. The purpose is to look at seasonal cycles and probabilities. Over the last 10 years in October, the Euro has lost 0.23% on average against the USD. In 70% of the time the Euro rose against the USD, except the previous two years. The Yen gained 0.41% on average during this period, although the USD was able to gain against the Yen  70% percent over these 10 years. The last 5 years consisting solely of gains. Gold gained 60% over the last 10 years, rising 0.12%. October for WTI Oil averaged out at a 1.46% loss, only rising 50% of the time.

Generally, the month of October is a very volatile time for Oil. During the financial crisis of 2008, WTI Oil lost 32.62% of its value and in 2011 it gained 17.66%.


The DAX is in a sideways trend.  Resistance is at 10820, support at 10250

Euro / USD

The Euro is in a large sideways trend against the Dollar. Support is at 1.0822, resistance at 1.1429.


The USD has bottomed against the Yen, leaving an upward trend


Gold has broken downward support at 1300, leaving it in a downward trend.


WTI Oil is trending sideways . Resistance is at 50.66USD and support at 42.72 USD


The Dax managed to continue its Friday rebound, gaining 1.03%. Biggest gainers were BMW and Daimler, BMW gaining 3.2%. Lufthansa was on the losing side, dropping 2.07%. US stock markets traded softer, the S&P losing 0.5%. Gold saw a bigger drop, losing 3.37% and breaking important support at 1300 to the downside. Gold reacted to a statement made by Richmond Fed´s Jeffrey Laker, pushing for a timely rate rise. Fears of a rise leading to light panic selling in Gold. The Nikkei 225 gains 0.61%, the weaker Yen favoring export orientated companies. The USD is unchanged. Gold and WTI Oils saw gains.

Economic Data:

  • 09:55 Germany: Market PMI Services
  • 14:15 USA: ADP Nonfarm Employment
  • 14:30 USA: Trade Balance
  • 16:00 USA : ISM Non-Manufacturing PMI

Quarterly Results:

  • USA: Monsanto

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.