Wednesday, 25 July 2018

Forex TS, 25/07/18

Posted by Anonymous at 12:20 Labels:


EUR / USD
On the market of the main FX pair, the situation has practically not changed in the last 24 hours. The market is still in a contracting triangular consolidation - in its upper range, trading above the strong support level of $ 1.1640. It's dangerous to go longs at these levels, and to go short as well. It is clear that the breakout from the consolidation will be very powerful, but that's the main question, as always, in which direction the market will go. Our recommendations – to stay out of the market, however if the market falls to the $ 1.1640 area, then longs will become relevant again.
Trading recommendations- out of the market, longs in the zone 1.1640
GBP / USD
As we expected yesterday, the weakness of the US currency led the British pound up to the $ 1.3140 zone, here comes the upper limit of the downward channel in which the market traded for the second month. Somewhere in this zone, we can expect sales activation, and bears transition into a counterattack. However, the weakness of the US dollar can slow this process somewhat, and then the downward momentum may be limited. In any case, storming the upper boundary of the channel can not develop  at current levels without a local rollback.
Trading recommendations - accurate shorts from 1.3160
USD / JPU
Local weakness of the dollar and news that the Bank of Japan is going to gradually turn off the soft monetary policy, led the quotes of the pair in the zone of two weekly lows. However, the level of JPY111.25 is a strong support, and it has stopped the market decline. Taking into account the change in mid-term expectations, we recommend considering opening short positions at current levels and when the market pulls back higher to the zone JPY111.60. When levels JPY111.25 breaks, the target zone will be JPY110.50.
Trading recommendations-shorts in the current zone and when the market pulls back into the zone JPY111.45-JPY111.60
AUD / USD
The pair remains in the consolidation of $ 0.7447- $ 0.7337 range. It is characteristic that for six weeks, there is a stable demand zone below the 0.7377 mark, which means that the Australian currency is heavily oversold and one can expect the consolidation break in the upper direction, hence it is advisable to accumulate longs.
Trading recommendations - longs at current market levels, in the 0.7377 zone and below

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