Wednesday, 2 August 2017

The new month begins positively for global markets.

Posted by Anonymous at 17:42 Labels: trading signals

Investors keep risk-on mode amid generally positive corporate reporting data. The dollar remains under pressure and the current trend remains

EURUSD - bulls retain control in the pair, using any pullback as an opportunity to go long

EURUSD continued to gain last week, the uptrend is still very strong, the pair easily overwrote the previous local maximum. Today, a new mark was reached - level 1.1866. The next key resistance is located far away, as pair busted into "operational space". We have written earlier that the nearest historical resistance level is in the region of 1.20 and, to be more exact, this is the region 1.2045. The pair have now enough space to keep moving higher. We can look for any pullback to go long with close stops. Strategic support is located at levels 1.1711, 1.15.

AUDUSD - Australian dollar gains - uptrend persists

The Australian dollar received another impulse of growth last week. The price has closed over a large trading range, which has been trading for over a year, so we expect that the price will continue to rise in the coming weeks. This week 0.7875-0.7880 is a short-term support zone. The next key resistance area is about 0.8160 the recent local maximum.

GOLD - continues to gain, we consider pullbacks as an opportunity to enter

Gold gained last week, market closed above resistance levels 1245 and 1260, showing that the bulls are clearly in control of the situation. This market continues to move from the bottom of the trading range with key support around 1214. While gold is above the 1244 level, the market is positive and we can use rollbacks to enter. The market also has a large and free space ahead as the main resistance zone is in the region of 1295.-1300.

This trading analysis is for informational purposes only and is not intended to be a strict recommendation for action or an offer for the purchase or sale of any currency, future or stock. Publishing the information we do not try or to attract any funds or deposits. We share our analytical view of current market situation and we don’t have any open position in instruments discussed and no plans to open any positions. Any person considering this research should carefully consider the risks associated with this and the level of trading experience.