A very eventful week ahead!

Check out key market insights and tips to prepare                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         [FBS]( [[fbsanalytics] Analytics]( [Log in]( [FBS]( What to Keep an Eye on This Week Hello, {NAME}! Get ready for significant volatility during this week’s events. October 22-24 BRICS Summit During its BRICS presidency, Russia aims to promote cooperation in politics, security, economy, and culture, with a focus on data sharing and reducing reliance on the US dollar. The summit’s emphasis on de-dollarization may prompt a US reaction, as former Trade Representative Robert Lighthizer warned that a re-elected Trump could impose 100% duties on countries rejecting the US dollar, potentially sparking new trade wars. [FBS]( UsDollar is on the rise and testing the 103.20 support level. The RSI and MFI oscillators show bearish divergences, giving a sign to correction to 102.80, aligned with the 161.8 Fibonacci, with a further rise to 104.50 resistance. October 23 BOC Monetary Policy Report The Bank of Canada’s Monetary Policy Report, set for release on October 23, will offer insights into its economic outlook and interest rate decisions. With inflation easing and unemployment below expectations, traders are watching for signals of a possible 75 basis point rate cut by the end of 2024. [FBS]( If expert forecasts are confirmed, this significant rate cut could weaken the Canadian dollar, setting a mid-term benchmark for the USCAD pair at 1.4000. [Make a deposit]( [fbs] Top Gainers Last Week • Coinbase Global Iinc. +24.31% Coinbase’s stock jumped this week after a federal judge dismissed a class-action lawsuit accusing it of selling unregistered securities, marking a significant legal win for the company. [Trade COIN]( [FBS] • USDCHF +1.04% The USDCHF pair rose this week, driven by strong US economic data, including robust retail sales growth and stable unemployment claims, boosting confidence in the US economy. [Trade USDCHF]( [FBS] [fbs] Top Losers Last Week • Novavax -19.80% Novavax’s stock dropped nearly 20% this week due to concerns about reduced demand for COVID-19 vaccines and disappointment over its effectiveness against emerging variants. [Trade NVAX]( [FBS] • EURUSD -0.84% The EURUSD decline was driven by strong US retail sales data and a weaker euro after the European Central Bank cut interest rates. [Trade EURUSD]( [FBS] [FBS]( [android] US30 US30 is in a long-term bullish trend and has now reached critical resistance at the 161.8 Fibonacci level. The price has crossed the upper Bollinger Band, while a divergence has formed on the Money Flow Index (MFI). [FBS]( • A rise above 43300 is likely to extend to 45600, aligning with the 238.2 Fibonacci level; • A break of the trend line could start a correction to 41500 and 40300. [android] EURUSD EURUSD has started falling sharply, and the price is holding near critical support, with %R indicating extremely oversold conditions. [FBS]( • EURUSD may bounce from 1.0830 and reach 1.0900; • However, the price may fall to the trend line and then start to rise. [android] XAGUSD XAGUSD has formed an ascending channel pattern with a short-term bullish trend. The price has reached ATH, creating two possible scenarios. [FBS]( • If the bulls push the price above the 32.200 resistance area, the silver may rise to 34.900; • A rebound and a break of the lower trend line are likely to bring XAGUSD back to 30.100. *FBS tips and analytics do not constitute a call to trade, trading advice or recommendation and are for information only. [Add to your portfolio]( [fbs]( Look For More Insights in Our Telegram You will find the most up-to-date trading ideas in our English-language Telegram channel. Moreover, you can connect with a community of like-minded traders. Last week, 13 out of 18 ideas shared by FBS analysts were accurate. [XAUUSD idea]( could’ve brought 2000 points. [AUDUSD idea]( could’ve brought 800 points. 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