Wednesday, 29 August 2018

FOREX TS, 29/08/18

Posted by Anonymous at 12:30 Labels:

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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