Wednesday, 22 August 2018

FOREX TS, 22/08/18

Posted by Anonymous at 12:52 Labels:

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

https://www.fortfs.com

No comments :

Post a Comment

Subscribe to: Post Comments ( Atom )