Friday, 28 September 2018

FX signals

Posted by FortFS at 12:58 Labels: trading signals

EUR / USD - sharp European currency decline

Yesterday the situation in EUR/USD market has changed dramatically. The sharp and continuous USD dollar strengthening changed the whole operational picture for this market. As we expected, after reaching a local maximum of $ 1.1775 the pair moved to a sharp decline. Yesterday, the decline continued and developed into the zone of the first effective support level of $ 1.1640, but the market could not hold on this mark and today the downward movement continued. In the EUR / USD market, a negative sentiment is dominant. However, the market is oversold and it is dangerous to open short positions before weekends.

Trade recommendations- out of the market

GBP / USD - broke below the support of 1.3100

To a lesser extent, the strengthening of the dollar had an impact on the British currency. Yesterday, GBP / USD dropped to the area of 1.3100, and today continues the downward trend. The mood in the market is uncertain.

Trading recommendations - out of the market

AUD / USD - decreased to the support area of 0.7200

Yesterday pressure on the Australian dollar strengthened, the pair sank into the zone of significant support - the area of 0.7200. Sales near support level are dangerous, but longs with such a strong dollar are dangerous as well.

Trade recommendations- out of the market

A sharp change in the medium-term picture in gold market

Yesterday, this market surprised many, including us. Quite unexpectedly, gold moved to a sharp weakening on the second day after the announcement of Fed news, when it seemed that the market had already played this news on Wednesday. As a result, gold immediately overcame the support of $ 1,190 and moved lower into the $ 1181 area. The medium-term picture changed dramatically - the risks of the market's drop to local minimum in the $ 1172 zone materialized. Before the weekend traders will probably fix a part of the positions that can form a local market rollback. This rollback might be used to close the losses of longs.

Trading recommendations - we are waiting for a local rollback from a minimum of $ 1180

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