Tuesday, 4 September 2018

FOREX TS

Posted by Anonymous at 13:25 Labels:

EUR / USD
On Monday, at the late European session, US dollar moved to upward impulse. USD dollar index broke through the tactical resistance 94.20 and moved into open operational space. Today, in the early European trading, USD dollar index continues to grow and is trading in zone 95.48. The technical picture assumes the continuation of the upward dynamics for the dollar, which will put pressure on all the major currencies in the FOREX market. On this background, EUR / USD continued to decline as we had expected in previous review. EUR / USD fell into zone $1.1550 - the first real market support in this region. The situation is quite interesting; as we see a change in the medium-term expectations for the euro, now in the market priority is downward move and shorts amid strengthening dollar. It should be specially noted the strength of 1.1550-1.1515 zone, historically a very strong support zone. Now new shorts on these levels are extremely dangerous, and can be relevant only after these levels broken.
Trading recommendations - out of the market
GBP / USD
Pressure on the British currency is increasing. On Monday, the pair broke through support of 1.2880. The pair is approaching local support 1.2815. The breakthrough of this zone will open the way much lower, down to the area of 1.2720.
Trading recommendations - shorts on local pullbacks or once zone 1.2815 broken
AUD / USD
On Monday, the market completely destroyed a local market pullback, when after Friday's decline the Australian dollar gained up to the first local support 0.7205. The resumed pressure of sellers led the market back to the zone of historically strong mark of 0.7160. This zone twice held the market from further decline in 2016. However, a confident breakthrough in this area will send quotes to completely new ranges with a target of 0.6895. While we remain out of the market and expect the situation to develop, however we focus on more shorts once the mark of 0.7160 falls.
Trading recommendations - out of the market
Gold
After four days of fighting for the psychological mark of $ 1200 and consolidation in a narrow range of $ 1206- $ 1196, gold bulls are retreating. Yesterday quotes moved to the area of the nearest local support $ 1196, and today sellers increase the momentum using the dollar's growth. A confident passage of this zone will open the way to the area of $ 1180.
Trading recommendations - accurate shorts (close stop orders) once market breaks through support zone 1196-1195

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