Friday, 31 August 2018
Cryptocurrency price dynamics for 31 of August 2018, 12:00 GMT+3
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Crypto TS, 31/08/18
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Bitcoin
On Thursday, the first crypto currency market adjusted lower to the level of the first support in the $ 6700- $ 6780 zone. This tactical pullback turned out to be a good technical pattern for opening longs, as a result, today the market gained in the $ 6,990 zone. The technical situation is favorable for opening long in the $ 6990- $ 6,700 zone as market accumulate the volume for breakout higher through resistance $7070-$7100.
Trading recommendations - purchases at current levels and when the market is rolled back
Ethereum
The pressure in the ether market persists; the market is going through $275 level and is heading lower to zone 270. With a drop in this zone, we can consider more longs with rebound ahead.
Trade recommendations- longs in the $ 270 zone
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FX TS, 31/08/18
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EUR / USD
Over the past 24 hours, the alignment of forces in FOREX market has not changed much. The dollar index remains within the narrow channel 94.80-94.30 points being in narrow consolidation during the last four sessions. On this background, EUR / USD market is also traded in a tight range. The first tactical support level 1.1650-1.1640 has proved its sustainability and so far supports the market. On other hand the market cannot move higher- bulls have no drivers not volumes. There is the operational level of medium-term resistance zone 1.1730-1.1770. If Friday trading session, the bulls fail go into a counterattack, the week-end closure will be bearish. In this case, we can expect a medium-term weakening of the European currency next week. Since the market returned within wide operational channel, EUR/USD medium-term outlook is range trade within 1.1515-1.1775.
Trading recommendations - out of the market
GBP / USD
At Thursday trading session, the British currency was able to consolidate the last upward momentum. The market has moved into a new price range. On Friday, at European trading session, the pair is traded at 1.3000. However, there are chances of pound weakness, and only USD weakness keeps the market from new sales. The nearest resistance is located in the area of 1.3100. Support in the area of 1.2900. Trading recommendations-careful longs on pullbacks.
Trading recommendations- accurate longs in the area of 1.2980 and below
AUD / USD
The market is increasing pressure on the Australian currency despite the weakness of the US dollar. Support zone 0.7280 did not hold on and failed resist the declien, the market changes the mid-term sentiment for Australian currency. The goal of the decline is the area of 0.7210 and below 0.7160.
Trading recommendations - shorts at current levels
Gold
The market fight for a psychological level at $ 1200 continues on the market. Yesterday, sellers were able to push the quotes below the level of 1200 for a short time, but this led more bullish volume inflow. Today, in the early European session, bulls counterattack, as the market is trading at 1206 levels. Today is the last day of the week and the trading session will be volatile, the parties will fight for the closure of the weekly candle. Bulls must close the week above the important marked 1200, and even better in the area 1210-1212. We keep our outlook the same.
Trade recommendations- purchases in the $ 1200 zone
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Thursday, 30 August 2018
Crypto TS, 30/08/18
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Bitcoin
At Tuesday's trading bitcoin reached the level of 7060 - a strong resistance zone. On Wednesday, the market remained positive, quotes consolidated and tested this mark. On Thursday trading session started with the market pullback from this zone, a natural development of events, the players fixed the profit of the previous growth. The decline in the market in the zone 6800-6700 is an opportunity to open long positions at interesting and attractive levels.
Trading recommendations- longs in the $ 6700- $ 6800 area
Ethereum
The pressure on the ether intensified. Yesterday, the market of the second crypto currency moved lower, and pulled back from the level of $295. The decline in the market stopped in the zone at $275. Thus, the market remains in the narrow sideway channel- $ 270- $ 300. When the market rolls back into the $ 270- $ 255 zone, we can consider longs position.
Trade recommendations- purchases in the $ 270- $ 255 zone
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FX TS, 30/08/18
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EUR / USD
Thursday session in the foreign exchange market is characterized by USD dollar transition to growth. On Wednesday, US dollar index reached 94.40 points, where it found support. On the market, signals were formed that hinted that USD correction was ending. It is interesting enough that the decline in the dollar stopped just on the median balance mark of 94.40- this is the middle of the wide sideway channel 95-93.85. For the European currency, this means that easy times end. This week was EUR / USD market was designated maximum in the zone 1.1732, this is a strong resistance zone. It's time to reduce the number of open longs. The first local support zone is located in the area 1.1650-1.1660. We remain out of the market and look forward to the development of the situation.
Trading recommendations-out of the market
GBP / USD
Yesterday, shortly before the start of the US trading session, British pound broke through resistance at 1.2930 during a powerful impulse and grew into a zone of 1.3000. Thus, the operational picture in this market has changed. However, the development of the situation will depend on the US dollar. The support is located in zone 1.2955.
Trade recommendations- out of the market
AUD / USD
The weakening of the Australian dollar led the market quotes in the area of 0.7270. In this area, the bulls are trying to move to a counterattack. The situation is uncertain and the future prospects of the market are not clear. The probability of continuing downward dynamics remains.
Trade recommendations- out of the market
Gold
The pressure on the gold market is intensifying. Yesterday, quotes dropped to the area of $ 1200. At this important psychological mark for the market, the bulls are trying to form a line of defense. The situation is not certain.
Trade recommendations- out of the market
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Cryptocurrency price dynamics for 30 of August 2018, 12:00 GMT+3
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Wednesday, 29 August 2018
Cryptocurrency price dynamics for 29 of August 2018, 12:00 GMT+3
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Bitcoin is gaining momentum
Bitcoin continued the positive dynamics of the current week. Tuesday trading session was extremely successful for the crypto currency market. Bitcoin was able to break above a significant resistance level at $ 6,800 and continued to gain to approach the first resistance-$ 7040- $ 7100. Most likely at these levels, the market will move to a local correction-traders will fix a part of the profits and roll back the market lower. The first support is located in the $ 6900 zone, and the more significant level is the former resistance zone, $ 6795- $ 6800.
Trading recommendations - longs in the $ 6900 zone.
Ethereum is ready to storm $300
Volume growth at the entire crypto currency market, as well as the positive Bitcoin dynamics, triggered the growth of the second most important crypto currency. Yesterday, ether broke above the resistance of $275 and came close to $300 level. For already two weeks, the market is trading below this mark. The breakthrough of this zone will send the market higher into the zone of $ 320 and $ 345.
Trade recommendations- longs when the market rolls back
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FOREX TS, 29/08/18
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EUR / USD
USD dollar index reached its first goal of correction on Tuesday, it is zone 94.30 points, and then bounced off higher. Whether the dollar will move to confident growth, Wednesday trading session will display. European currency moved stubbornly higher during two weeks and reached zone 1.1735 as the operational situation in this market has completely changed. The pair returned back to the side range 1.1515-1.1745, with the nearest support being zone 1.1640. In this sense, the first support zone 1.1620-1.1640 provides an opportunity to open long positions when the market pulls back to this zone.
Trading recommendations - longs in the zone 1.1620-1.1640
GBP / USD
Market second test at 1.2930 resistance also proved unsuccessful. The pair retreated lower to the area of 1.2876. It seems that the market is moving towards consolidation in this area. (1.2800-1.2940)
Trade recommendations- out of the market
AUD / USD
The market failed to gain a foothold in the 0.7340 zone, the lower limit of the sideway wide range. There followed a rollback down to the area of 0.7285. Thus, the market could not return to the boundaries of the previous side range of 0.7450-0.7340. The first resistance in the zone is 0.7340, support is located in the zone of 0.7280.
Trading recommendations - accurate longs with short stops in the zone of 0.7280
Gold
Yesterday, gold tried to break through the first local resistance $ 1215, but USD strengthening led to a local gold pullback as gold dropped in the $ 1200 area. Bulls try to organize a defense based on this psychological level. Longs at these levels look justified, although it is impossible to exclude the local market move lower.
Trade recommendations- purchases in the $ 1200 zone
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Tuesday, 28 August 2018
FOREX TS, 28/08/18
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EUR / USD
Positive in this market is preserved. On the background of the continuation of USD dollar weakness, the European currency is stubbornly moving higher. The market took $ 1.1645 level on the move and consolidated in the $ 1.1700 area. Thus $ 1.1645 is a new level of support. The new resistance is $ 1.1745.
Trade recommendations- longs in the $ 1.1645 area
GBP / USD
British currency continue to rise amid the weakness of US dollar. The market is approaching resistance zone 1.2925. The resistance zone is spreading higher up to the level of 1.2955. The support is located at the level of 1.2880
Trading recommendations- accurate longs in the zone 1.2880
AUD / USD
Buyers continue to storm the lower boundary of the side channel, resistance zone 0.7340. This is a very strong resistance zone. Taking this mark will send quotes higher to the area of 0.7375 and further even higher to the area of 0.7440.
Trading recommendations - longs once fixing in the area of 0.7344
Gold
Quotes of precious metal were able to gain a foothold above the first real resistance in the $ 1206 zone. The next stronger resistance is located in the $ 1213- $ 1215 zone. We have to be careful with longs at these levels. The support zone is located at $ 1200- $ 1206. It is advisable to wait for corrective pullbacks or cosider longs after market fix above $ 1213- $ 1215.
Trade recommendations- careful longs in the $ 1200- $ 1206 area
Cryptocurrency price dynamics for 28 of August 2018, 12:00 GMT+3
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Monday, 27 August 2018
Cryptocurrency price dynamics for 27 of August 2018, 12:00 GMT+3
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Crypto TS
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Bitcoin
Last Friday, bitcoin market gained some ground-quotes razed during the restrained growth and fixed above the $ 6500 mark. On Monday in early Asian session bitcoin is traded in the $ 6700 zone. There is a strong resistance zone, the upper boundary of a wide side range, $ 6,700- $ 6,800. At the same time, the capitalization of the entire crypto currency market has grown to the level of 217 billion dollars. The market should fix above $ 6,800 in order to indicate the seriousness of further growth intentions. However, we believe that in the current market conditions the market has not enough momentum to do this. It is much more likely to develop a local rollback, with the nearest support in the area of the last resistance $ 6500.
Trading recommendations - accurate longs in the $ 6500 area
Ether
Ether market has formed a stable sideway dynamics. For three weeks, the ether market is trading around $ 275 per coin. Nearest support is located in zone 250. Resistance in the area of 300. With the current market dynamics, and trade volumes, we recommend to stay out of the market for a while.
Trade recommendations – out of the market
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Weekly trading statistics from FortFS 20.08 - 26.08
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FX TS, 27/08/18
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EUR / USD
The pair continues to trade firmly in upward sentiment. There is a very strong resistance zone for upward euro move 1.1600-1.1640. Longs are advisable to consider after the corrective pullback lower to the support zone 1.1550-1.1515. The nearest outlook is positive.
Trade recommendations- longs in the zone 1.1550-1.1515
GBP / USD
The expected pullback to zone 1.2800 occurred, where the bulls tried to seize the initiative. However, it was not possible for bulls to advance above zone 1.2880. The conditions have been formed for range trading within the framework of 1.2800-1.2880 were formed.
Trade recommendations - we expect the situation to evolve and we look closely for more longs on pullbacks
AUD / USD
Once again bulls intercepted the initiative in the zone of 0.7240 and brought quotes close to the lower border of the wide side range. Support is located in the zone of 0.7285, more longs amid pullbacks down to this zone may be of interest.
Trading recommendations - longs in the area of 0.7285
Gold
Gold was able to show a strong weekly close. On Friday the market closed above the important $ 1200 mark, and in addition, after 6 weeks of decline, we finally saw a green weekly candle. Bulls will try to form a defense zone around $ 1200, where the first level of support is located. More serious resistance is located in zone $1206. Buls need to hld on abpbe $1200. This week will provide information for middle-term gold market intention.
Trade recommendations- longs in the $ 1200 zone
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Friday, 24 August 2018
Cryptocurrency price dynamics for 24 of August 2018, 13:00 GMT+3
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Thursday, 23 August 2018
Cryptocurrency price dynamics for 23 of August 2018, 12:00 GMT+3
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Crypto TS. 23/08/18
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Bitcoin dropped below $ 6500 support
During yesterday's trading session, buyers lost all their achievements when Bitcoin quotes fell below the support $ 6500. It is characteristic that this mark could not provide any support to the market, despite the fact that this zone was a strong resistance for a long time. Thus, the market returned to the position of the beginning of the week, when bitcoin was trading within a narrow range under the $ 6500 mark. The market found support in the $ 6,245 area and is traded in the $ 6400 zone in early European trading. How the events will develop further is not clear, the situation is not certain. In the zone 6000-6240 there is a demand zone. In case of a market decline in this area we can think about opening longs. In the medium term, we expect the quotes to remain within the side channel 6000-6800.
Trading recommendations - out of the market
Ethereum is traded around balance mark $275
Ether also dropped into the lower zone of the sideway medium-term channel $250-$300. The market continues to trade around the middle level of this channel $275. If the market falls to the lower zone ($250), we can think of opening long positions. The midle-term prospect of the market is the trading within the channel 250-300.
Trading recommendations - purchases in zone 25
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FOREX TS, 23/08/18
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EUR / USD
The upward movement of the pair was stopped by 1.1600 level. It should be noted that this is a very strong mark and we assume that if the bulls have intentions to go higher, they will have to work hard to storm this zone. Yesterday there was a weak recovery of the US currency, on this background EUR / USD adjusted somewhat and dropped into the zone of the first support 1.1550. That zone 1.1550-1.1515 is a viscous support zone, where we consider going long based on 1.1515 support.
Trade recommendations- longs in the zone 1.1550-1.1515
GBP / USD
Correction of the pair continued into zone 1.2940. The purpose of the current correction impulse is reached. The upward momentum begins to slow down and may be followed by a pullback to zone 1.2780. The situation is not certain. We recommend staying out of the market.
Trade recommendations- out of the market
AUD / USD
Sellers knocked out quotes from a wide sideway channel breaking through the lower zone (0.7335) of this range. It was expected development of the situation, the bulls did not have enough operational space to gain a foothold in the current positions (0.7335). The market price has fallen into the zone of 0.7280. The development of the further situation will depend entirely on the US dollar. However, cautious longs at current levels seem appropriate.
Trading recommendations - longs in the area of 0.7280 with target 0.7335
Gold
Against the backdrop of local dollar weakness, gold retreated from the significant 1200 level, without trying to storm this zone. The situation remains the same-we can expect a pullback of quotations in the $ 1187- $ 1185 area before the bulls again try to launch the offensive in order to gain a foothold above 1200 and test the real resistance in the $ 1206 zone.
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Wednesday, 22 August 2018
Opened sell and buy clients positions ratio Latest data for 22 of August 2018, 15:00 (GMT+3)
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Cryptocurrency price dynamics for 22 of August 2018, 12:00 GMT+3
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Crypto TS, 22/08/18
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Bitcoin
After two days of corrective consolidation, the expected market upward move in the bitcoin took place, overcoming resistance at $ 6500 and reaching the upper limit of the wide side range - $ 6700 zone. Bulls failed to overcome this resistance zone on the move, as, the players fixed the profit and pulled the market into the $ 6630 zone. Nevertheless, the most important thing is that the market indicated the intention to go higher. We can consider longs at current levels, relying on operational support in the $ 6500 zone.
Trading recommendations - longs at current levels, support in the $ 6500 area
Ethereum
Ether also demonstrates a positive mode, after the bit coat market returned to the growth. The market was able to gain a foothold on the levels of $ 270- $ 280 and in European session the bulls seem to accumulate volume for the storming the resistance at $ 300. We can consider going long at current levels, relying on support in the $ 270 zone.
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FOREX TS, 22/08/18
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EUR / USD
Contrary to our expectations, the market managed to quickly fixed above 1.1515 -1.1530. The expected corrective pullback did not happen. This may indicate the intention of the market to continue the upward move for the European currency. Yesterday, a new local maximum in zone 1.1600 was designated, and this is a serious resistance, no need to wait the rapid passage through this zone. The market can adjust first to zone 1.1550, and then into the now strategic support area around 1.1515. If the level of 1.1515 fails to keep the market above, there can be a sharp turn in the market sentiment to bearish scenario.
Trading recommendations - accurate longs in the zone 1.1515
GBP / USD
Yesterday, the market realized a local pullback after the growth momentum at the beginning of the week. Bulls are trying to return to the market using zone 1.2870 as the first line of defense. Does the general operational situation favor the buyers of the pound? Yesterday, the decline in the dollar index was stopped by a very strong support level in the 95-point zone, thus the dollar unloaded its overbought. The probability of further weakening of the dollar fell sharply. Today, the markets are waiting for the publication of Fed minute, and most likely it will support the US currency, since there is no doubt that the US regulator will keep its approach for two rate hikes this year. However, these expectations are already fully in prices, but speculators can play this fact by strengthening the purchase of the dollar. On this background, we recommend to stay out of the market until the Fed publishes the minute. Technically, we expect a local GBP pullback to at least zone 1.2825.
Trade recommendations- out of the market
AUD / USD
Amid USD dollar transition back to gains , this market is testing the lower limit of the medium-term side range around 0.7335. It all depends on whether the bulls can hold this zone. The situation is not certain and this is just the case when it is better to stay out of the market
Trading recommendations - out of the market
Gold
Gold approached the important psychological mark at $ 1200. Here starts the first zone of resistance $ 1197- $ 1200, and apparently bulls can not take it at once. It is also characteristic that the downward corrective impulse for the US dollar has run out. We can expect a pullback in the area $ 1187- $ 1185 before the bulls again try to to gain a foothold above 1200 and test the real resistance in the $ 1206 zone.
Trade recommendations - purchases only after a confident consolidation above 1200
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Technical analysis 22/08/18
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EUR/USD
The trend is objectively bullish. Buyers managed to lead the EUR/USD currency pair to the 1.1600 hurdle yesterday. The euro paused its growth after that and spent the night swinging back and forth between 1.1600 and 1.1550. MACD remained in the positive area. RSI kept consolidating in the overbought zone. The moving averages continued their slope. The resistance resides at 1.1600, the support lies in at 1.1550.
The 1.1600 hurdle now seems to protect the immediate upside. If this level is broken it might prompt some growth towards 1.1630. Meanwhile, the euro came under some profit-taking pressure and may ease to 1.1530 now.
GBP/USD
The US dollar is trading on a soft note vs. its UK counterpart. We witnessed a fresh buying-wave yesterday which lifted the pound from the 1.2800 level up to 1.2900. The major came close to the EMA100 which is defending this area. This barrier stopped bulls and they spent the night in this area. The indicators recommend long positions. MACD and RSI are giving buy signals. The EMA50 started to change its course while the EMA100 and the EMA200 are still moving south. The resistance resides at 1.2900, the support comes in at 1.2800.
GBP/USD is overbought and may need some downward correction. If so, the major may ease to 1.2850 amid profit-taking following the recent rally.
USD/JPY
The yen started Tuesday on the defensive. Sellers lost control in the 109.80 area where the spot turned around and started to move higher. The rebound was in force the whole day and buyers managed to reverse a small portion of their recent losses. They drove the price to the 110.50 hurdle where sellers fought back control and sent the rate to 110.00. The moving averages are moving straight downwards. MACD is growing in the negative territory while RSI is holding near overbought readings. The resistance lies at 110.50, the support is at 110.00.
The US dollar approached the upper limit of the ascending channel and may stay here for a while before turning bearish again.
AUD/USD
The upward pattern remained intact on Tuesday. The AUD extended its near-term bullish momentum and broke through 0.7350. The buying momentum did not last long after that and soon bulls lost impetus when they were trying to overcome the 0.7380 hurdle. The AUD bounced off the level and softened to the 0.7350 in the night. The short-term indicators (MACD and RSI) are giving buy signals. The moving averages are still moving south. The resistance stands at 0.7400, the support is at 0.7350.
If buyers want to preserve their dominate positions, they need to regain the 0.7380 hurdle. However, they need to pull back to gather some steam first. The possible rebound target is the 0.7330 area.
USDCHF
Sellers managed to extend the sell-off on Tuesday. The pair came under renewed selling pressure and registered fresh lows. The downward trajectory stalled in the 0.9870 area where the major spent the whole day. The selling pressure increased in the evening and the major probed the 0.9850 area where the spot stayed for the night. The moving averages started to move downwards. MACD is declining in the negative area, RSI turned lower. The resistance stands at 0.9900, the support is at 0.9850.
Buyers may start a recovery and may move the currency pair to the 0.9870 region now.
Gold
The up-move stalled in the 1195 area. Buyers failed to advance beyond this mark and the spot pulled back to the 1190 handle. The commodity found fresh bids over there and recovered back to the 1195 area afterwards. The moving averages are still moving downwards. MACD entered the positive area. RSI is still within the overbought readings. The resistance resides at 1200, the support comes in at 1190.
The precious metal has a little potential to extend its recovery. The nearest target is the level 1200 which is well defended by sellers.
Brent
The positive mode is still in place. However, the buying momentum lost legs when buyers tried to extend their gains. The level 72.50 is defended by the EMA100. This barrier is strong and bulls spent the whole Tuesday trying to overcome it, but failed to show any meaningful result. MACD remained at the same level which confirms the strength of buyers. RSI is gaining upward traction and is currently around 70. The resistance stands at 72.50, the support is at 71.50.
A move above 72.50 will confirm the strength of buyers. In this case the benchmark may hit the high of 73.00. If bulls fail to regain this resistance, Brent oil prices may soften to 72.00.
DAX
The demand for DAX remained unabated on Tuesday. The upward momentum was strong and the index reached fresh weekly peaks. Buyers moved the rate to the 12400 region where the EMA50 blocked their way. MACD is about to enter the positive area. RSI is flashing overbought. The moving averages are heading lower. The resistance stands at 12400, the support is at 12300.
If buyers overcome 12400, they will be able to move the market to 12500.
Bitcoin
Bitcoin continued its consolidation phase on Tuesday. The coin was moving in a small range between 6400 and 6300. A bout of fresh buying interest emerged in the night when the crypto currency pushed away from 6400 and spiked to the 6900 hurdle. The EMA50 is neutral while the EMA100 and the EMA200 are heading south. MACD is around the mid-line, RSI is staying around 50.The resistance stands at 6900, the support is at 6600.
We believe that Bitcoin will remain rather unchanged today.
Ethereum
The downward pressure is still intact. Sellers were unable to drive Ethereum below 275.000 and stayed in this region. They were pressuring the level the whole Tuesday, but failed to regain the handle. The buying pressure started to grow in the Asian session. Buyers fought back control and drove the coin to 300.000. The moving averages are still declining. MACD is staying in the negative area. RSI is consolidating within oversold area. The resistance stands at 300.000, the support is at 275.000.
We believe that sellers will attack 275.000 in the short-term. A break below this handle will show room for further downside towards 250.000. We do not rule out another buyers’ attempt to start a recovery and move the Ethereum to the 325.000 area.
Tuesday, 21 August 2018
Cryptocurrency price dynamics for 21 of August 2018, 12:00 GMT+3
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Crypto TS, 21/08/18
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Bitcoin
Tuesday session bitcoin began with a sharp pullback in the early Asian trading, which were immediately used by buyers to create more longs. Price pullback in the zone 6200 allowed buyers to pick up the pace, and return the market price in the $ 6470- $ 6500 zone. After such a maneuver, the market potential for further growth has strengthened-the market has clearly indicated its intention to continue growing, and we can expect the storm of resistance of 6500 level at the nearest trading sessions.
Ethereum
Ether also demonstrated a local pullback and then the market return above support-resistance $ 270. We can consider going long in the area of $ 270.
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EUR / USD
Our expectations fully realized at yesterday's trading session. Overbought American dollar moved to a corrective decline on technical factors and a eased risks of the trade confrontation between Washington and Beijing, as well as the verbal intervention of the American president. USD dollar index strengthened the decline after it broke through support line of 96 points and today in the early European session USD index reached the level of 95.40-95.24. EUR / USD reached a local maximum in the zone 1.1540, thus the serious intention of the market was indicated to return above the psychological mark 1.1515. What might be the next? The fact is that the zone 1.1515-1.1540 is a strong psychological resistance zone and it is impossible to exclude the market pullback. The US dollar index slows down the decline. Support area 1.1480-1.1490 and further zone 1.1450.
Trading recommendations - accurate longs in the zone 1.1480-1.1490
GBP / USD
The market realized the expected corrective rebound towards the first resistance level of 1.2830. Further, the upward impulse starts to slow down and may be followed by a rollback to zone 1.2780. However, the immediate goal of the current upward impulse is located in the zone 1.2900. We recommend to monitor USD dollar dynamics and open long positions when the market pulls back.
Trade recommendations- longs when the market corrects lower
AUD / USD
The market returned to a broad side channel. Now the lower zone of the specified range (0.7335) that this night was stormed by the market, is the first support for the bulls. Perhaps the market will try to gain a foothold at current levels. If he succeeds, then an upward impulse is possible in the zone of 0.7385.
Trade recommendations - look for purchases
USD / JPY
Yesterday, the pair fell into the zone of 109.85 and designated a local two-month minimum. However, today we are seeing a pullback. USD / JPY strengthens, the resistance is at the levels of 110.25-110.30.
Trading recommendations - shorts in the area of 110.25-110.30
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Technical analysis 21/08/18
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EUR/USD
The buying pressure remained intact on Monday. Sellers tried to lower the spot, however, they were stopped at 1.1400. The euro bounced off the level and grew to the 1.1450 area first. Buyers remained in control after that and drove the major to the 1.1540 area in the night. MACD entered the positive area. RSI is consolidating in the overbought zone. The moving averages continued their slope. The resistance resides at 1.1550, the support lies in at 1.1500.
The euro has a potential to continue its recovery and probe the 1.1550 region later the day.
GBP/USD
Buyers are still in control. They spent the first part of Monday trying to push the pound higher, however, managed to do it only in the afternoon. They continued advancing north during the late European session and were able to reach 1.2770 first. Bulls continued its rally afterwards and broke the 1.2800 hurdle in the mid night. The currency pair was growing the whole Asian session and reached 1.2830 by the morning. The short-term indicators (MACD and RSI) are giving buy signals. The moving averages are still moving south. The resistance resides at 1.2900, the support comes in at 1.2800.
The pound is likely to extend its recovery and will test 1.2900 in the coming days.
USD/JPY
Sellers continued to dominate on Monday. They pressured the 110.50 level in the night, but were rejected to the 110.60 area where the spot found fresh offers and dropped back to 110.50. The negative trend gained momentum after that and the currency pair accelerated its decline. The major extended its decline down to 109.80 where sellers lost control. The moving averages are moving downwards. MACD and RSI are staying near oversold levels. The resistance lies at 110.50, the support is at 110.00.
If the US dollar weakens further, the tone would favor further losses towards the support area 109.50-109.25.
AUD/USD
The market sentiment is still positive. The AUD/USD extended its recovery fueled by USD retracement on Monday. The AUD was struggling to break through 0.7300 the whole day, but failed to leave the level during the Asian and the European hours. The major got under intense buying pressure in the NY session and spiked to the 0.7350 hurdle. We assume that buyers could lift the spot higher, but the EMA100 which is located in this area and limited their advance. The short-term indicators (MACD and RSI) are giving buy signals. The moving averages are still moving south. The resistance stands at 0.7350, the support is at 0.7300.
The pair is expected to continue its recovery and move up to the 0.7380 region where the EMA200 will surely defend the upside.
USDCHF
USD/CHF started the week on a positive note. Buyers drove the US dollar to the 0.9970 area where the major found fresh offers. The increased selling pressure returned the spot back to the 0.9950 handle. Sellers did not stop after that and continued pushing the currency pair lower. They reached the 0.9930 area in the evening and 0.9870 in the night. The moving averages are neutral. MACD entered the negative area, RSI turned lower. The resistance stands at 0.9900, the support is at 0.9850.
We expect a rebound and a move towards the 0.9930-0.9900 area.
Gold
The recovery move which started last week is still in progress. However, the up-move stalled in the 1190 area where the yellow metal faced a decent resistance. Buyers failed to move beyond the level and retreated to 1185 where they regained control and sent the prices to weekly highs. The spot extended its near-term upward trajectory to the 1195 mark in the night. The moving averages maintained a strong downward slope. MACD is growing in the negative territory. RSI is overbought. The resistance resides at 1200, the support comes in at 1190.
We believe that bulls will remain in the driver's seat and will move up to 1200 later the week.
Brent
Brent remained in a buy mode on Monday. Bulls failed to regain the 72.50 last week and pulled back to gather momentum. The benchmark bounced to the 71.50 level, bounced from the handle and grew to 72.50 again. And once again the EMA100 defended this region and rejected the rate downwards. The moving averages continued their slope. MACD approached the mid-line. RSI is mostly neutral. The resistance stands at 72.50, the support is at 71.50.
A decisive break above 72.50 could open the door towards 73.00, en route to 73.50.
DAX
DAX had a positive day on Monday. The index gapped upwards from 12200 to the 12230 mark. The buying bias remained in place after that and the benchmark moved to the 12350 area where buyers lost momentum. When the buying pressure weakened the rate pulled back to 12300. The moving averages are pointing lower. MACD is growing in the negative territory pointing to buyers' strength. RSI is heading higher towards the overbought zone. The resistance stands at 12400, the support is at 12300.
Now when 12300 is broken the level 12400 became the probable bullish target.
Bitcoin
Bitcoin was neutral trading in a tight range in the 6400 area during the day trades on Monday. The selling pressure started to grow in the night and the crypto currency moved to the 6300 handle. The EMA50 and the EMA100 are heading lower, the EMA200 is still neutral. The EMA100 is crossing the EMA200 downwards which is a strong sell signal. MACD is close to the mid-line. RSI is neutral. The resistance stands at 6600, the support is at 6300.
We believe that the Bitcoin will preserve its negative tone and will decline to 6000 in the coming sessions.
Ethereum
Buyers failed to regain 300.000 last week. After spending a few days struggling with the level, the Ethereum abandoned its recent highs and moved to 280.000. The spot found fresh offers in this area and dropped to the 275.000 region. The moving averages are still declining. MACD is staying in the negative area. RSI is consolidating within oversold area. The resistance stands at 300.000, the support is at 275.000.
We believe that sellers will attack 275.000 in the short-term. A successful move below this level may lead to a sell-off towards 250.000.
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