Friday, 18 January 2019

Cryptocurrency price dynamics for 18 of January 2019, 12:00 GMT+3

No comments : Posted by Olga Gorinina at 13:13 Labels:
Read More

Trading signals

No comments : Posted by Olga Gorinina at 12:56 Labels:
In general, FOREX market hasn’t been active so much this week. On Friday, most major currencies are trade in tight ranges and what is most interesting point, within one percent of the weekly open level. We recall that the first 2019 full-active trading week was much more intense and volatile. It seems that the markets took a breather to reflect on the current situation, or a local balance of power has emerged amid information vacuum at the end of the trading week. All of stated above applies to all FX instruments, with the exception of the British pound, that presented the expected but no less interesting surprise.

EUR / USD - conditions for corrective pullback have formed
Trading activity in this market has been declining since Wednesday, when the pair reached $ 1.1370 level. Now the fact is evident to everyone that this is a strong technical level, the market is somewhat oversold and a further decline has a low probability. However, the interesting situation is that there is no driver for growth and market reversal. Bulls cannot seize the initiative and cannot yet initiate any pullback. It is significant that at the same time, the US dollar index can not overcome a very strong level of 95.75 points. However, like European currency, there is no active decline. Today is Friday session and the market will close the trading week. Bulls may try to close the week above 1.1395 and, if lucky, above 1.1400. This will be a positive signal for the next five days. It is likely that some traders will try to take profits before the weekend. Let's see how events will develop in the US trading session. However, we stay on longs priority, waiting for an upward corrective pullback at least in the area of 1.1430-1.1440.
Trading recommendations - longs at current levels 1.1385-1.1390
GBP / USD- strengthened to two-month highs
Yesterday, the British pound surprised many as on the background of quite market, GBP / USD pair showed increased intra-day volatility and rallied to 1.3000. Moreover, no clear fundamental and informational excuse for this type of action has been discovered so far. Perhaps the market continues to close shorts after risks of hard Brexit somewhat eased. On the chart, the pair updated the recent highs around 1.2920, braking those levels on the move and gained to 1.3000. These are the two-month highs of the market and the last time when market visited this area was November 2018. Now support is located in the area of recent highs - this is zone 1.2890-1.2900. Resistance is located at 1.3000. After reaching these levels, the future market outlook does not look so clear. Immediate support 1.2900 seems infirm, but we see strong support in the area 1.2880.
Trading recommendations - longs in the area of 1.2900-1.2880
Gold - quotes fell to the lower boundary of the channel in European trading
The gold market was trading within the familiar range of 1286-1295 throughout the week, while in recent days, buyers were able to shift the balance above 1290. We viewed this price movement as a type of minor bull’s victory. However, no decisive action followed after that, as bulls failed to organize a test of the upper end of the mentioned range. In addition, according to the main rule of the market “If the market does not go up, it goes down” today in early European trading, we see a strong short movement and quotes decline to area $ 1285. We will see as Friday session goes on how strong will be this short squeeze. In general, we regard this price action as a positive sign, since a decline first to the area of 1285 and further to the area of 1280 will help to relieve the oversold market and attract more green volume at more attractive and safer levels. The closest support is located in area of 1280, where market is heading, and the next one is lower to the $ 1277 mark.
Trading recommendations - longs in the region of $ 1285, $ 1280, $ 1277
AUD / USD - the market retains uncertainty
High volatility and reduced trading activity makes this market difficult to analyze in current conditions. On Friday in the middle of European session, one thing is clear, this week the market failed to overcome the level 0.7200. Therefore, the market remained at the mid-term disposal of the sellers. However, since the current trend has a medium-term downward nature, then the dominance of sellers in this market is more fundamental. Despite all this, selling now is somewhat dangerous, and the market seem cannot decide on the direction. Longs are also not an option. It will be safer to stay out of the market and watch the situation.
Trading recommendations - out of the market 

https://www.fortfs.com
Read More

Thursday, 17 January 2019

Cryptocurrency price dynamics for 17 of January 2019, 12:00 GMT+3

No comments : Posted by Olga Gorinina at 14:27 Labels:
Read More

Trading signals

No comments : Posted by Olga Gorinina at 13:21 Labels:


We enter the second half of the current week - events in the markets are developing somewhat quietly. The biggest event this week is left behind -Brexit vote in the British Parliament, and Theresa May is now working on her Plan B, which she outlined on Monday. The inflation rates in the Eurozone and the Philadelphia FED will be in market focus in the Thursday calendar. US dollar continues the moderate growth, but USD has displayed signs of overbought conditions, futures for US indices in the red zone in Asian trading.

EUR / USD - the market fell to the lower end of middle-term channel
Contrary to our expectations, on Wednesday European currency decline continued. FOREX market main pair dropped below 1.1400-1.1395, and this strong support zone was left behind. Today, on Thursday, the pair is trading around 1.1370. Now market is deep into strong area of support 1.1400-1.1350, and the lower the quotes falls, the more oversold the conditions become which make more chances for the market sharp upward pullback.
An additional support factor for Euro is that the lowest end of specified range is located in this area. This is a strong support factor. We cannot expect that the market will be able to update local lows and move lower breaking through the specified level; in addition selling at these levels is extremely dangerous. To sum up, the technical picture is somewhat in favor of quotes rebound from current levels up to the area of 1.1430-1.1460, which is a middle zone of the channel. We are still positive regarding the middle-term outlook for Euro and believe that current levels are good enough for longs.
Trading recommendations- longs at current levels, in zone 1.1370-1.1400
GBP / USD maintains a positive technical picture
After the volatile sessions of the weekly start, in the middle of the week the market decreased its activity and is traded in a narrow range. GBP quotes occupied the area around 1.2890, and spent two sessions around this mark. Strong support level is very close to the price rate, it is a zone of former long-term resistance around 1.2810-1.2760 area. No doubt, that British currency will restrain the volatility amid political factors, but the technical picture speaks in favor of continuing positive dynamics for this market. The resistance of this market is also quite close; it is an area of 1.2895-1.2920. We maintain cautious positive expectations for GBP short-term outlook.
Trading recommendations – longs when market pulls back lower to 1.2815
Gold bulls were able to consolidate above $1290 mark, which a positive sign
There were no strategic changes in this market during the last trading session. The market remains within the narrow sideway range $1285-$1295. However, yesterday there was a kind of tactical bull’s victory. An interesting and positive moment for the bulls was the fact that they were able to gain a foothold in the middle level of this tight range. That is, the balance median level $1290 located right in the middle of 1285-1295. So buyers were able to shift the point of balance volume up to this level, and now this mark is their closest support and they are ready to storm the upper end of this channel and test the strategic level $ 1,300. We continue to monitor the development of this interesting situation, but we believe that longs in this narrow range can be somewhat dangerous.
Trading recommendations - cautious longs in the area of 1290, 1285, 1277.
AUD / USD has rebounded from 0.7200 support
On Wednesday, technical situation on this market finally turned to the long-awaited development, as the Australian currency local upward impulse was reversed being weak and unstable. Australian currency pulled back from 0.7200 and adjusted to the area of 0.7145. In general, the situation in this market remains uncertain, volatile trading persists. Support is located close in 0.7145 area, but the middle-term market outlook is uncertain. As long as the Australian currency market is under 0.7200, sellers maintain control over the market.
Trading recommendations - out of the market
CAD / USD-new strong short volumes affected the market
Recent development in Canadian currency market is interesting. A couple of weeks ago, Canadian dollar reached a local high around 1.3660, that corresponds to the resistance line of a long-term uptrend. Followed correction has sent the market quotes lower to 1.3280, as a strong support level 1.3335 was broke on the move. Finally, this week, the market slowed down the drop and moved first to consolidation, and then to corrective growth. This provides the opportunity to join the corrective rally.
Recently, the market reached the level of 1.3310, after which the upward momentum was exhausted. Immediate support is located at 1.3270. However, the main support is located in the 1.3240 area. We can consider longs in the area  1.3240 with the target of 1.3310.
Trading recommendations - longs in the area of 1.3240
https://www.fortfs.com
Read More

Wednesday, 16 January 2019

Cryptocurrency price dynamics for 16 of January 2019, 12:00 GMT+3

No comments : Posted by Olga Gorinina at 13:22 Labels:
Read More

Trading signals

No comments : Posted by Olga Gorinina at 13:20 Labels:
After the loud Tresa May defeat on the Brexit vote in parliament, which is the worst defeat for the current UK government, there are many other uncertainties in the market, and these uncertainties have more fundamental and  more extensive nature. The slowdown in economic growth in Germany, which means in Europe, the actual decline in exports and imports in China, all this creates risks for the American economy — in this sense, today's retail sales data will be in general market focus.
EUR / USD - a fundamental weakness sent quotes to the lows of 1.1395
On Tuesday trading session, European currency strengthened the decline. We put aside the fundamentally news that affected price action (the decline in European currency can be explained by weak data on German economic growth, and the increased uncertainty of Brexit, which also put pressure on the European currency) and as always focus on technical factors. Therefore, yesterday, in the course of a complex news background, quotes of the European currency broke through important support levels of 1.1460, 1.1430, and dropped to around 1.1400. Today, at Asian trading, the market is trading around 1.1395, and so far we can’t say that 1.1400 level is broken. We wrote earlier that, in our opinion, a break of 1.1400 would mark the market turns more bearish and play back the last upward impulse to area of 1.1570. How will events in this market proceed? Taking into account US currency weakness and the general fundamental background, we can expect the correctional growth of the market from these marks and the that area 1.1400-1.1395 proves to be firm. This level is the main market support in the current conditions, and we believe that a further decline in EUR / USD is unlikely.
Trading recommendations - longs in the area 1.1395
GBP / USD - despite the high volatility, the market consolidated above the level of 1.2800
Yesterday this market showed high volatility as expected. On Tuesday, British currency showed an intraday range of about 250 points (1.2670-1.2900). However, according to the results of the trading day, the market closed above support 1.2800. This is a significant sign for the market. Of course, we can expect that market volatility to continue today. No doubt that market will test 1.2800 level, but closing the market above the significant level on a strong negative background is a positive signal for the medium-term future of the British currency. Despite the negative news background and increased risks, we will take into account the technical picture of the market, which says that the market maintains positive sentiment and is trying to develop an upward movement. Support is now located in the area of recent resistance 1.2760-1.2800, and new resistance is the area of recent highs around 1.2925 (extension 23.6 Fibonacci).
Trading recommendations - cautious longs in the area of 1.2770-1.2800
Gold - consolidates around $ 1290
Gold continues to trade within a narrow range  1285-1295. Yesterday's GBP / USD volatility and the related strengthening of the dollar had no impact on the gold market. Moreover, the price has returned to the median level of this narrow channel - the mark $1290. This is a significant moment, and we can say that the market has accumulated enough volume for a possible exit from this consolidation. No much if any technical changes in the market did happen. We look forward to the development and see more longs opening.
Trading recommendations- longs in the $ 1285, $ 1280 and $ 1277 area
AUD / USD- no changes in the market
The market continues to consolidate below 0.7200 - this is a zone of resistance, where market lost its upward momentum. Quotes are moving to consolidation, and sideway dynamics prevail in a narrow range. The overall disposition of the market forces has not changed - the first support of the market is at around 0.7160. Resistance is located at 0.7200.
Trading recommendations - out of market
https://www.fortfs.com
Read More

Tuesday, 15 January 2019

FOREX TRADING SIGNALS

No comments : Posted by Olga Gorinina at 12:44 Labels:

GB voting for Theresa Mae’s Brexit deal in the UK’s House of Commons takes center stage on Tuesday’s trading session, although voting starts late in London time the event will affect the entire trading session. On the eve of the vote, it is expected that the May deal will be rejected. Yet, this did not prevent the pound from gaining to the highest level since mid-November on technical factors and GBP shorts liquidation. This is alarming, but we will closely monitor developments as we anticipate high volatility.
EUR / USD - the slow development of the correction to $1.1430
The beginning of a new trading week is taking place on the background of corrective pressure in this market. In essence, the situation in this market has not changed much in the last four days. We are seeing a sluggish correction. European currency adjusted to the level $1.1465-$1.1450, where the closest support level goes and where the downward movement slowed down. Further developments will depend on the sustainability of this zone, which extends to the level of 1.1430. This is a strong bullish defense area, and it is here that we expect the bullish volume to return to the market.
Trading recommendations - longs in the area 1.1465-1.1430
GBP / USD - we expect test support 1.2770-1.2800
The breakthrough of the market level around 1.2780-1.2800 led the British currency quotes up in the area of two-month highs -1.2925. It is difficult to believe that this is a real market breakthrough; rather, it might be shorts liquidation ahead of important news event and higher volatility. If so we can see the continuation of negative dynamics. However, the fact remains that the market has consolidated above 1.2800 and now it is the closest market support. Resistance is now a zone of recent highs in the 1.2920 area. Given today's events, we recommend to stay out of the market
Trading recommendations - out of the market
Gold consolidates within a narrow range of 1295-1285
The precious metal market continues to trade within a tight range $1285-$1295. Gold positively opened a new trading week; on Monday, quotes were able to hold above $1285 and even move higher, this was perceived by the market as a positive sign. This price action was due to increased fears on a global economic slowdown after the release of weak data on Chinese exports / imports.
Current market pattern resembles the “flag” figure - and this is a continuation figure. Of course, the round mark 1300 has not yet been really tested, and we mentioned earlier that 1300 is a strong and long-term level. The market can spend below this level for quite a long time, and longs here seem somewhat quite dangerous (1295-1285). Before a decisive assault of $ 1,300, at a minimum, the market would want to trigger a stop-orders located under $ 1285, which means a quotes drop to $ 1277 area. In our opinion, at least in this area it is necessary to focus on the longs and even lower down to $ 1263. As for Brexit, we do not think that today's events can have a significant impact on gold, maybe in terms of  increased volatility. The gold market is now influenced by other factors, and they are of more fundamental in nature.
Trading recommendations - limit orders in the area of 1277 and 1270
AUD / USD has come upon the first real resistance 0.7200
Weaker USD dollar and the positive results of the US-China trade negotiations supported the Australian dollar last week. However, weak economic data for China at the beginning of this week put pressure on the Australian dollar. The Australian dollar has strengthened to the area  0.7200, where a strong zone of resistance is located. Breaking through this mark will send quotes higher up to the area 0.7330, to two-month highs. The nearest support is located in the market area 0.7165. Volatility in this market remains sufficient, so we must be careful with this market.
Trading recommendations - cautious longs in the area 0.7165-0.7145
https://www.fortfs.com

Read More
Subscribe to: Posts ( Atom )