Tuesday, 29 August 2017

EURUSD - the uptrend continues

Posted by Valentine at 07:52 Labels:

EURUSD - the uptrend continues

Last Friday, the EURUSD currency pair rushed higher, the closing of the week passed at the levels of 1.1925, thereby eliminating the overheating. The trend for growth is still intact. The dollar continues to remain under pressure after Janet Yellen's speech in Jackson Hole, during which the Fed's further steps in monetary policy were not indicated. At the same time, ECB President Mario Draghi did not react to the high rate of the single European currency in his speech. Moreover, the situation for USD worsened after the DPRK launched a missile that flew over the territory of Japan, which violated the country's sovereignty and airspace. The closest support is in the area of ​​1.1685, but players will buy back the euro with the slightest corrective weakness. The objectives of the euro / dollar upward impulse are in the area of ​​1.2125-1.2165.

Gold - $ 1300 level was taken rapidly and a new local high marked at 1324

Yesterday's trading session ended at 1309.84, and today's trading opened with the gap. The reason for such a sharp and strong demand for gold was the launch of a North Korean missile that flew over the northern part of Japan and fell into the Pacific Ocean at 1180 kilometers from Hokkaido. We expect a corrective pullback to the area of ​​1312-1315 with the subsequent move to upward impulse.

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