Wednesday, 8 August 2018

FOREX TS, 08/08/18

Posted by Anonymous at 13:30 Labels:


EUR / USD
Yesterday's Euro attempt to rebound from the $ 1.1530 zone turned out to be weak. With great difficulty, the bulls managed to counter-attack and brought the price up to $ 1.1600 zone. Today, during the Asian session, restrained growth continued, the pair gained into the $ 1.1628 zone, when shorts resumed amid USD attempts to hold on the 95.16. Nevertheless, our recommendations to buy at yesterday's levels turned out to be correct. Now the bears have an operational scope for developing the right attack and storming the lower zone of the current consolidation-the price region 1.1530-1.1515.
Bulls will try to restrain the renewed pressure and hold the ground around 1.1580-1.1590, let's see what will come of it. In this sense, Wednesday session is very important and we will look into daily close. While the market trades below the level of 1.1640 the advantage is on the side of sellers, but we would refrain from entering the market until the situation clears up.
Trading recommendations - out of the market
GBP / USD
The pound continues to update the lows of the year, today the pair marked a new level in the zone of 1.2900. The real pullback did not work out and the zone of viscous resistance 1.2880-1.3000 is being passed easily enough. The target of the current impulse is zone 1.2865.
Trading recommendations – shorts on current levels
USD / JPY
The breakthrough of the level of 111.10 began at yesterday's trading, however the level is serious and therefore it is not easy to pass. Yesterday sellers tried our strength, but at Wednesday session we already see the actual passage of this mark. The intentions of the market are clear, and hence the forecast and last recommendations remain relevant-shorts amid local market pullbacks. The purpose of the current downward impulse is the zone 110.70.
Trading recommendations - shorts
AUD / USD
Yesterday, the growth momentum was stopped at the levels of 0.7430, where the resistance level of the wide side range runs. There is not no forces not drivers for AUD to move higher. The operational situation remains the same, and for us this means the old strategy-trade into the channel. Some fear is caused by the US dollar's position as American index approached its resistance zone close to the upper boundary near 95.16. On the other hand, the dollar index tries to gain a foothold on these levels and forms a volume accumulation, which can mean continuation of growth and breakout to operational space above 95.30.
Trade recommendations - cautious shorts in the area of 0.7425-0.7430

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