Eurozone September industrial production -0.4% vs +0.6% m/m expected

Prior +0.7%; revised to +0.6%

  • Industrial production WDA -6.8% vs -5.8% y/y expected
  • Prior -7.2%; revised to -6.7%

Factory output missed on estimates towards the end of Q3 and that isn’t a convincing signal on how the rest of the region is progressing if you strip out Germany.

As such, the Q4 outlook may look even more dire all things considered but at least for today, the market will still view this as a relatively minor data point.

analytics5fad4c7817218.jpg

Further Development

analytics5fad4cb0ae314.jpg

Analyzing the current trading chart of Gold, I found that there is the balancing process for few days due to strong std. Movement in a single day from few days ago.

Anyway, I would still watch for selling opportunities on the rallies with the targets at $1,851 and $1,817.

Key resistance is set at the price of $1,890.

1-Day relative strength performance Finviz

analytics5fad4cbac1005.jpg

Based on the graph above I found that on the top of the list we got Sugar and VIX today and on the bottom Ethanol and DAX.

Key Levels:

Resistance: $1,890

Support levels: $1,850 and $1,817

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.