Tuesday, 17 October 2017

Eur / Usd - the upward trend continues to be intact

Posted by Valentine at 17:10 Labels:

The overall trend of EURUSD remains positive, as formally the market remains bullish trend. Last week, the price rose higher after the key support of about 1.1660 was canceled on October 6. Today, the market is under pressure as pair is falling into the support area 1.1660-1.1700. If this support does not stand, then we will see the implementation of the reversal figure "head and shoulders" with the goal of 1.15. We recommend staying out of the market and waiting for the situation to clear upю The main support for coming days is located around 1.1660-1.17.

Trading recommendations - out of the market

Gold pullback is opportunity to join the upward movement

Last week, gold bulls returned to the market with redoubled force, as the price rose and overcame the key psychological level of 1260.00 - 1276.00. Today, during the Asian trade, precious metal was falling from the level of 1296.04 dollars per ounce to 1290. With the arrival of European traders, the pressure on gold increased and prices fell to the area of ​​1287.08. Nevertheless, the situation on the gold market looks positive given the technical picture. This week we remain optimistic about this market. The support zone is located at levels 1285-1280.

Trade recommendations - careful longs  at 1285-1280 levels .

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