Friday, 31 August 2018

FX TS, 31/08/18

Posted by Anonymous at 12:57 Labels:

EUR / USD
Over the past 24 hours, the alignment of forces in FOREX market has not changed much. The dollar index remains within the narrow channel 94.80-94.30 points being in narrow consolidation during the last four sessions. On this background, EUR / USD market is also traded in a tight range. The first tactical support level 1.1650-1.1640 has proved its sustainability and so far supports the market. On other hand the market cannot move higher- bulls have no drivers not volumes. There is the operational level of medium-term resistance zone 1.1730-1.1770. If Friday trading session, the bulls fail go into a counterattack, the week-end closure will be bearish. In this case, we can expect a medium-term weakening of the European currency next week. Since the market returned within wide operational channel, EUR/USD medium-term outlook is range trade within 1.1515-1.1775.
Trading recommendations - out of the market
GBP / USD
At Thursday trading session, the British currency was able to consolidate the last upward momentum. The market has moved into a new price range. On Friday, at European trading session, the pair is traded at 1.3000. However, there are chances of pound weakness, and only USD weakness keeps the market from new sales. The nearest resistance is located in the area of 1.3100. Support in the area of 1.2900. Trading recommendations-careful longs on pullbacks.
Trading recommendations- accurate longs in the area of 1.2980 and below
AUD / USD
The market is increasing pressure on the Australian currency despite the weakness of the US dollar. Support zone 0.7280 did not hold on and failed resist the declien, the market changes the mid-term sentiment for Australian currency. The goal of the decline is the area of 0.7210 and below 0.7160.
Trading recommendations - shorts at current levels
Gold
The market fight for a psychological level at $ 1200 continues on the market. Yesterday, sellers were able to push the quotes below the level of 1200 for a short time, but this led more bullish volume inflow. Today, in the early European session, bulls counterattack, as the market is trading at 1206 levels. Today is the last day of the week and the trading session will be volatile, the parties will fight for the closure of the weekly candle. Bulls must close the week above the important marked 1200, and even better in the area 1210-1212. We keep our outlook the same.
Trade recommendations- purchases in the $ 1200 zone

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