Eur / Usd - upward momentum did realize, strong resistance zone is ahead: 1.1880-1.1900

According to our expectation, Eur/Usd currency pair significantly gained yesterday. Strengthening the euro is due to the weakening of the US currency since the beginning of the week, as well as a relatively positive development of events around Catalonia.

Two major events that could have a significant impact on the dynamics of the main FX pair are further negotiations between Madrid and Barcelona, ​​as well as the publication of September FOMC «minutes».

From a technical point of view, zone 1.1880 and above 1.1893- represents a strong resistance area. In this sense, we expect a pullback, which can be used for going longs. In the case of a sharp upward impulse and fixation above resistance zone, it is worthwhile to look closely at longs at 1.19.

Trading recommendations - longs after the market pullback at ​​1.1785.

Gold – resistance zone 1289-1295 is a serious obstacle for the growing market

Our Monday forecast realized as well and yesterday gold gained to 1294.20 dollars, but could not fix at these levels and Tuesday ended at 1287.90. Support for the price comes from geopolitical tensions and a US dollar decline across a wide range of market. Still, the expectations of another rate hike in 2017 restrain the growth of precious, protective metal.

Today, gold is trading through the levels near 1289, the market is moving towards consolidation and accumulation of volume for the next attempts to break through and consolidate above the broken support 1288.09. Thus, the levels 1289 -1295 represent a strong resistance zone. Recall that last time, when the market stormed this level from below (August 2017) it took two weeks to take this level.

We continue to remain positive about the gold market, and the technical picture suggests that the upward movement will continue. However, we can only talk about this when the price is fixed above the specified range. In the meantime, it's worth looking at longs after the market pullbacks, these are levels 1280-1279.

Longs at 1280-1279 and lower

Fort Financial Services