Thursday, 16 August 2018

FX TS, 16/08/18

Posted by Anonymous at 14:10 Labels:


EUR / USD
News broke out that negotiations between the US and China over the trade confrontation might take place (a Chinese official was invited to Washington for talks on the matter) markets are kind inspired and there is some recovery mode and a corrective decline in the US currency.
Equity markets try to play back the previous losses, and the pair EUR / USD got a breather. Yesterday, a local low in zone 1.1300 was indicated, followed by a rollback. Today, the pair strengthened into zone 1.1400, thus forming a narrow range. Local support is located in the area of 1.1360. If we want to talk about a future correction, the pair should close today's trading day above 1.1400-1.1410.
Trading recommendations - out of the market
GBP / USD
After reaching the level of 1.2713, GBP decline was suspended and the pair moved to consolidation. The market is oversold, and the dollar is overbought. We can expect the local pullback of the pair in the next trading sessions, but the operational picture remains the same, the US currency is completely dominant in this market. Upward pullbacks can be used to go short. We believe that this rollback can develop to levels of 1.2775.
Trading recommendations - shorts when the market adjust higher
AUD / USD
After Wednesday session, technical picture indicates that the current downward momentum has run out and we have several corrective trading sessions ahead. We can expect the local growth of the Australian currency and the strengthening of the AUD / USD pair in the zone of 0.7285
Trading recommendations- shorts amid with rising pullbacks
USD / JPY
The pair is trading extremely volatile these days. After the important technical level (support) of 111.10 was broken, the market moved to channel with ranges 111.10-110.30, while the level 110.70 appears as the middle level of this range. We believe that the trade in the coming days will be carried around the level of 110.70, and given the expected local weakening of the dollar, there is a high probability that the pair will go to the test the lower border 110.30.
Trading recommendations - accurate sales in the area of 110.80

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