Friday, 19 January 2018

Trading signals 19/01/2018

Posted by Anonymous at 15:46 Labels: , ,

Yesterday, political uncertainty in Germany and the US failed to put significant pressure on the European currency. EUR / USD pair gained throughout the entire trading session on Thursday and again came close to the significant round level of 1.2300. Here begins the most interesting things. The movement of the last days clearly showed that the situation is still controlled by bulls, but will they have enough strength in the near future to try to storm such a significant level. If we turn to the higher time frames we will see that this level is not as simple as it seems. For 5 years, from 2008 to 2014, it was this level that did not allow EUR/USD go lower, and on this basis it can be concluded that the assault and braking through will not be easy. Of course today on Friday, and even before the important event on the weekend, there are no attempts to take this level. All major events will be held next week.
Mixed statistical data published yesterday in the United States brought even more uncertainty to the market. On the one hand, there was an increase in the number of new homes permits, but on the same background, the volume of construction was below the forecast level. The positive sentiment on jobless claims data was leveled by poor data from the Federal Reserve Bank of Philadelphia. However today the dollar is trading in different directions, in the first half of European trading, was under pressure, but closer to the start of Wall-Street again trying to grow up.
The threat of the suspension of US government work and the expectation of the SDP's vote to start negotiations with the Merkel party to form a large coalition so far have deterred investors from more active trades. Most likely, before the weekend investors prefer to record earlier opened positions than to open new ones.
The mixed fundamental background was reflected in the chart. The currency pair spent the whole week in a narrow trading range with borders at the levels of 1.2185-1.2300. Technical indicators now also do not give unambiguous signals, so most likely today the pair will remain in the current range.
 Our recommendations: remain outside of the market

No comments :

Post a Comment

Subscribe to: Post Comments ( Atom )