Wednesday, 1 August 2018

FOREX TS, 01/08/2018

Posted by Olga Gorinina at 12:20 Labels: trading signals

EUR / USD

Yesterday, the pair continued to trade within the triangle range, while again bouncing away from the upper boundary level. Today in early European trading, the pair stopped in the $ 1.1680 area. Perhaps the market forms new support zone in this area. If this is the case, then the chances of upward getting out of the consolidation are increasing.

We recommend to open longs at these levels and lower down to $1.1640

GBP / USD

There were no serious changes in this market over the past 24 hours. The attention of traders was focused on the meeting of the English regulator. Amid these expectations the volatility of trading declined significantly. The closest support remains the same, it's zone 1.3090. We expect un upward pullback of the market to the 1.3160 area and the subsequent strengthening of shorts.

Trade recommendations - out the market

AUD / USD

The pair fell into the zone of 0.7400 after the last upward impulse was exhausted in the zone of 0.7435. We are little bit confused by the fact that the market could not strengthen to 0.7450 - the real upper limit of the side range. At the same time, the downward impulse was also weaker. Perhaps this means that the bulls finally intercept the initiative and accumulate volume for upward outbreak of the consolidation, or the market volatility has just declined.

Trading recommendations - longs in the zone of 0.7400.

USD / JPY

The operational picture has significantly changed in this market. The pair has fixed above the level of JPY111.45 and continued to rise to JPY112.20, which is the resistance zone. The local resistance is located in the zone JPY111.75.

Trading recommendations - longs in the $ 111.75 zone and below

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