Wednesday, 31 October 2018
AUTOREBATE for every client!
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FOREX TRADING SIGNALS
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Wednesday economic calendar is interesting enough and filled with economic data, which means that we have a lot to consider, as markets will be influenced by multidirectional factors. In addition to statistics, the market continues to focus on large-scale topics-global trade issue (impact on the US dollar, gold, USD/JPY), Brexit development (impact on the GBP / USD pair) and US monetary policy (EUR / USD). Today, the session focus is upon the continuing upward dynamics of the US dollar- USD index shifted in the area of yearly highs, as well as ADP data on the US labor market. The global stock market is trying to recover after an intensive decline over the past few days, US market index SP 500 bounced off from 2600 points, as US continues to provide strong economic data (consumer confidence index). The intrigue is whether the correction in the American market is over or whether the markets have just pushed away from strong technical levels.
EUR / USD
The main pair of the market is trading with greater uncertainty. On the one hand, EUR / USD is thirty points away from 2018 lows, on the other hand, the pair cannot move lower and is trading in a tight range 1.1340-1.1380. At the same time, US currency continues its victorious offensive, but Euro no longer responds to this. EUR / USD market is clearly oversold and it is obvious that there is a possibility that we will see a rebound in the upward direction from these levels - too much expectation of further decline in this market. We can even expect the beginning of correctional upward impulse on Friday, as NON-FARM data will be released and new month starts. Let us see how events will develop, we recommend considering the cautious longs in current levels in the 1.1330-1.1350 area.
Trading recommendations - longs in the area 1.1330-1.1350 with short stops
GBP / USD
A large-scale decline in this market led the GBP quotes down to the zone of three monthly lows - the area of 1.2690. Further decline of this market is difficult. On the background of the emerging correction in American dollar, we can see a weak pullback of the British currency. In this case, the immediate goal will be the level of 1.2775. Overcoming this mark will open the way to the area 1.2830.
Trading recommendations - longs after overcoming the nearest resistance 1.2775
AUD / USD
Despite persistent attempts, Australian dollar failed to overcome local resistance around 0.7100. The level of tactical support shifted to 0.7070. Buyers accumulate volume around these levels, in general the Australian dollar is firm, we can expect on the continuation of the upward movement.
Trading recommendations - longs in the area of 0.7070 and after overcoming the resistance of 0.7100.
Gold
US dollar rally and the return of risk appetite back to equities brought gold quotes down. The market has lost all the gains of the previous week. Yesterday, the bulls tried to organize a defense in $ 1,220 area, but their defensive lines could not resist. Quotes fell to $ 1215 — now this is a strategic support area. If the market does not stand at these levels, the next support is already around $ 1205 mark. However, US dollar index has reached yearly highs and this created conditions for correction. In any case, to overcome the annual maximums on the move is not an easy task, even for the US dollar. We can open medium-term long positions at these levels with short stops.
Trading recommendations - longs in the area $1215
Monday, 29 October 2018
FOREX TRADING SIGNALS
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EUR / USD
EUR / USD ended the previous trading week on a positive note, the price rose on Friday, but buyers failed to win back all the losses of the previous week, and finally the five-day trading was closed with a minus. The fact that the sellers could not move the pair below the August lows is a certain bull’s achievement. We recall that closest local minimum for this market is located in $ 1.1380 area. On Monday, the pair is growing up and is trading around $1.1404. Thus, the pair formed a rather narrow sideway range within $1.1430-$1.1350. A break above resistance 1.1430 will mark an increase in positive sentiment in this market. Although this week the chances for the development of the correction in the American currency are quite high, we remain out of the market on Monday and expect the situation to evolve.
Trading recommendations are out of the market.
GBP / USD
After a massive decline in the British currency over the previous week, Monday trading session starts amid sign that British currency is somewhat technically oversold. GBP / USD opens Monday trading in the area of $1.2830. The medium-term outlook certainly maintains the weakness of the British currency. However, this week we can see the technical correction of the GBP / USD pair up to the levels of 1.2920. Market support is located around the last week lows in the 1.2780 zone.
Trading recommendations - longs in the area 1.2800-1.2770
AUD / USD
Last week, the pair failed to realize a break below support at 0.7040, so our expectations for the continuation of the next phase of the downward trend did not materialize. Looks like this week we will see some bearish sentiment in this market amid USD dollar weakness. Monday trading starts with AUD/USD retreating to the 0.7100 zone, this is a strong resistance area. Chances for a breakthrough of the market remain high, in this case the resistance will be located around 0.7140. The only question is whether the pair will be able to realize a breakthrough and move into the upper part of the formed side channel 0.7040-0.7100.
Trading recommendations – go long if markets fixes above 0.7100
Gold
Large-scale profit taking on Friday brought gold quotes down to $1234 region. On Monday, the slow decline in gold continued — the market moves lower to $1233. Strategically, there were no significant changes in the market as gold retains chances for continued growth. Moreover, the support $1229 and lower stronger support around $1225 looks stable and new long positions at this level looks attractive.
Trading recommendations - longs in $ 1229 area and below in the $ 1235 zone
Thursday, 25 October 2018
FX TS
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EUR / USD
Today is the most important day of the week for this market in terms of news background as traders expect ECB meeting. And, if there is no intrigue with the main decision as no rate-hike is expected, then Draghi’s comments are of great interest. First, ECB President statements regarding the state of the European economy, which has been showing signs of a slowdown since the beginning of summer, are of great interest as well. Yesterday's European PMI data turned out to be much weaker than expected. In the context of new economic data, ECB head outlook for tight monetary policy, which the ECB announced before the end of 2018, will be in traders focus.
The technical situation in this market has not changed much in Asian trading, the market is trading with lower activity from the American session on Thursday. The pair slowed down the downward movement around levels 1.1380, and moved to consolidation. The market is oversold somewhat, but further downward movement is quite likely, as well as recovery to the area of 1.1515, especially given USD dollar technical conditions which are favorable for the development of the second scenario - the dollar is overbought and located near yearly highs. This picture can trigger a turn into a correction before the end of the week.
Trading recommendations - out of market
GBP / USD
The downward movement of British currency is gaining momentum. On Wednesday, GBP / USD brake another important support area, 1.2920 zone. Thus, GBP / USD entered the operational space and now the road to the 1.2780 zone is open. Let us see how events will develop in this market today, all the conditions have been created for the formation of a new downward impulse down to 1.2780-1.2660. But lets keep in mind that it is USD dollar who dominated this market and if USD correction develops further we will see GBP downside momentum speed up.
Trading recommendations - shorts when market pulls back to 1.1430
AUD / USD
The market continues to trade within a narrow sideways range 0.7100-0.7040. On Thursday, the pair has shifted to its lower range, which means that the chances for lower breakout are higher. Fundamental and news background also supports this scenario. However, the level of 0.7040 is a local minimum of the entire current downward impulse, originating in the zone 0.8090 with 2018 start. Breaking through it can be a difficult task and before the market passes lower we can see several more upward pullbacks.
Trading recommendations - out of the market
Gold
Yesterday, gold locally adjusted to the area of $ 1,225, where, as expected, a large volume of buy orders entered the market. The market provided another opportunity to join the upward movement at good levels. Today in early Europe, the market again tested the highs around 1233 area, but profit taking rolled back the quotes below. US index futures are in the green today, but the US dollar is under light pressure. The conditions are kind equal. However, the trading plan remains the same – careful longs when market pulls back lower to $1229.
Trading recommendations - longs in the 1229 area
Tuesday, 23 October 2018
FX TS
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EUR/USD
Monday USD growth provided strong pressure for EUR/USD and brought this market down to local lows around 1.1440-1.1460. However, Euro is oversold and more downward moves are only possible once 1.1430 level is broken. However, the possibility of upward correctional move is also quite possible. In this case the market will meet the resistance zone around 1.1515 level.
Trading recommendations – longs in area 1.1440-1.1460
GBP/USD
Yesterday GBP experienced a strong sell-off amid tough fundamental background. In the European session, GBP/USD breached through psychological support 1.3000 and marked new local minimums around 1.2930. Today a slight market upward pullback has emerged but now 1.3000 area is strong zone of resistance. The further developments will depend on the 1.3000. if market can return above 1.3000 this will bring back the positive sentiment to this market. Otherwise, we will see a rebound from 1.3000 and more bearish sentiment. Quite interesting that the possibilities are equal and this is exactly the case when it is better to stay out of the market and wait for the market development.
Trading recommendation – out of the market
AUD/USD
Australian dollar price has declined to the local lows area 0.7040 and then returned to some growth amid shorts close and profit taking. We recommend closing shorts unless someone hasn’t done it earlier. The target of the last market impulse has been reached and the market is getting ready for another story. We might see pullback and then the return of downward move. The support zone is located close to the price and this is 0.7040 zone, the resistance is also not far from the rate and it is 0.7100 area.
Trading recommendation out of the market
Gold
The gold market is still the most interesting market to watch and trade. Today gold displays the intention to leave the range of sideway consolidation where gold has been trading since 11th of October. This consolidation is a evident flag pattern and this means the continuation of current upward tendency. Yesterday the market declined to $1220 support providing new perfect opportunity to join the current upward move. Today in early European session, the gold approached the upper limit of current consolidation $1233 and tries to widen attacking breakthrough. However it is a kind dangerous to open longs at current levels. We need to wait and see the market consolidation above 1235.
Trading recommendation –careful longs after consolidation above 1235 or after correctional oullback lower
Wednesday, 17 October 2018
FOREX TS
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EUR / USD continues the narrowed consolidation
The situation in this market is developing slowly these days. On Tuesday, the pair was trading in a very narrow range - as EUR / USD consolidated in the $ 1.1550-1 $ .1610 area. In general, the situation has not changed much, and our yesterday's forecasts and recommendations remain in force. We expect the pair to move lower to the support zone around $ 1.1550- $ 1.1510 where we can consider opening long positions.
Trading recommendations - longs in the $ 1.1550- $ 1.1510 area
GBP / USD pulls back lower from weekly highs
Yesterday, this market reached local maxima in the 1.3225 area, and then pulled back lower. Support is located in the area of 1.3135-1.3125. Let's see how today the market closes this day, as some signs of reversal candle pattern has been formed. In this sense, longs at current levels of 1.3140 seem to be dangerous. We expect developments in this market. Support is located in the 1.3100 area.
Trading recommendations - out of the market
AUD / USD - correctional growth continues
Yesterday, the pair managed to consolidate above $ 0.7125, and now it is the nearest support zone for this market. Our expectations for the upward correction cease are not yet met. Resistance is located at $ 0.7160.
Trading recommendations - out of the market
Gold, after a local retracement of 1225, continues to look up
The gold market proves to be very technical market. Yesterday, gold quotes reached 1233, the nearest significant resistance zone. Having spent the entire trading session in unsuccessful attempts to storm this area, the market eventually adjusted to area 1220, where buyers went on the counter attack. Today, in early European trading market quotes again have grown to the zone of 1227, leaving the level of 1225 behind. Thus, bulls interception of initiative around 1220 indicates a continuing positive sentiment on the market. Immediate support is located the area 1225-1220.
Trading recommendations – longs in the area of 1225 and below with pullbacks to the zone 1220.
Tuesday, 16 October 2018
Crypto TS
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Bitcoin
After yesterday's growth and a surge in volatility, today there is no significant changes in the market for the first cryptocurrency. The market is trading in the area of yesterday's levels, it is a zone of $ 6400. It seems that the market is trying to gain a foothold at these levels and accumulates volume. However, the capitalization of the crypto foreign exchange market has also not changed, the total capitalization is at the levels amounted 211 billion dollars. We maintain positive midterm bitcoin expectations.
Trading recommendations - longs at current levels
Ethereum
Tuesday at the early European trading session, ether quotes are located at $ 203 levels. Yesterday's market close occurred at $ 200 levels. If the market can consolidate above $ 200, then this will open the way up to the $ 220 area. This is also strong level of resistance; upper bound of the formed mid-range sideway range.
Trading recommendations-longs in the $ 200 area
FX TS
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EUR / USD
The situation in this market is still under bulls control. After buyers fixed above 1.1560, the market entered into mini consolidation. In the near rear, bulls have a strong support area on which they base their offence, this is the area of 1.1550-1.1515. 1.1600 is a zone of closest resistance, it is reinforced by the MA (moving average) that came down here, (20m and 100m) Strong resistance level $ 1.1640 is also close and located just above. Summing up, we can say that the further Euro advancement looks rather difficult, rather, it is worth waiting for a local retreat down to the area of 1.1550-1.1515.
Trading recommendations - longs in the area 1.1550-1.1515
GBP / USD
As a result of Monday session, the price gap in this market was eliminated, which is a strong signal for maintaining the positive dynamics in this market. In early European trading, the pair is testing the resistance area of 1.3200 and maintains a positive sentiment. Overcoming the 1.3200 mark will open the way for the market into higher area of 1.3255, recent local maximum. We can consider more longs once 1.3200 get broken.
Trading recommendations - longs once overcoming the area 1.3200
AUD / USD
Yesterday, the upward corrective movement in this market slowed down. The pair failed to consolidate above the resistance of 0.7125. Now the downward movement can resume. Local market support is located in the area of 0.7095, the nearest local minimum in the area of 0.7040.
Trading recommendations – shorts at current levels
Gold
On Monday trading session, the market reached the nearest resistance in the region of $ 1233. We believe that this is a zone of strong resistance and gold will not be able to pass it on the move. On Tuesday, quotes pulled back to $ 1225, at these levels the bulls are trying to organize a line of defense and accumulate volume to continue their growth. However, there are still high chances of disrupting the market down to support $ 1225, in this case the path to the second support area of $ 1216 will be open, but such prices may not appear as the market will turn higher around 1220. The move higher and fixing above $1233 is also a good sign for long positions.
Trading recommendations – go long in the $ 1216- $ 1220 area
Monday, 15 October 2018
Forex TS
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EUR / USD – weekly close above 1.1515 is a positive signal for middle-term growth
The previous week ended with a local pullback of the American currency on technical factors. US dollar was oversold, and players fixed profits before the weekend. On Friday, the dollar index rose to the area of 95.05 points, but could not overcome this mark. On Monday, the dollar continued to decline. EUR / USD closed the week above the level $1.1515 and today in the early European session, the pair us trading around $1.1566. This is a positive signal for the continuation of the upward trend. The nearest local target is the highs of the previous week-zone 1.1610. We can open positions at current levels and in the area of close support, zone 1.1540-1.1515.
Trading recommendations - buy in the area 1.1515-1.1540
GBP / USD starts the week with gaps
For the British currency, the new week starts with a downward price gap. This is a market reaction to weekend news. At the Asian session, the market opened at the level of 1.3095 and then moved to strengthening. Friday's close occurred at 1.3150. In early European trading, the pair strengthened to 1.3135. In this area, the resistance zone located, familiar to the market, the level 1.3135-1.3140. However, the main resistance is located at the beginning of the price gap -Friday closing levels 1.3150. According to the rules of technical analysis, if the market overcomes the upper limit of the price gap, it continues to grow, but this is a zone of very strong resistance. If the market passes above 1.3150 and consolidates above, then we can consider opening longs.
Trading recommendations - buy when fixing above 1.3150
AUD / USD – corrected upward on a weak dollar
On the background of the weaker USD dollar, some positive sentiment returned to the AUD / USD market. Last week, the pair closed above the level of 0.7095. Now it is a support area. The resistance is close; this is last week's highs 0.7140 and further 0.7160. We maintain negative medium-term expectations for the Australian currency. Local pullback can be used to open short positions.
Trading recommendations - shorts in the area of the first resistance 0.7160
Gold continues upward momentum, expect profit taking around 41233
The gold market continues to gain. Last week, the market closed above $ 1216. This is a strong application for medium-term upward move. However, the resistance is already close, it is an area of $ 1233. It is in this area that we expect local profit taking to start. In early European trading, the market continued to grow and is trading in the 1230 area. We can join the upward movement in two cases, after a pullback or after the market has move through 1233 area.
Trading recommendations- longs after a rollback or after a pass 1233
Friday, 12 October 2018
FX TS
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EUR / USD
Yesterday was an extremely interesting trading day on the FOREX market. The weakening of the US dollar continued along with sales in global equity markets. USD dollar index dropped to 94.70 points. On the background of risk-off mode, as well as on technical factors, the European currency was in high demand. After fixing above $1.1515, growth continued in the $1.1615 area. On Friday, signs emerged that the euro bulls are running out of steam, the bulls sprawled their hinterland and the pair may go to a local pullback. In this case, the decline will continue to the zone $1.1575-$1.1550, where the first local support is located. The strategic support area is located in zone $1.1515, where we recommend looking for an entry point.
Trading recommendations - longs in the area 1.1515-1.1550 amid pulling lower
GBP / USD
On Thursday the growth of the British currency continued at a strong pace . The pair overcame the resistance 1.3200 and marked the highs in the area of 1.3246. Today, positive sentiment persists, it seems that GBP/USD pair is heading towards the September highs, this is the 1.3300 zone. Today is the last trading day of the week, and we can expect a local pullback on the background of profit taking before the long weekend and after significant growth this week. Therefore, we need to be careful with the opening of new longs. The first valid support is located in the 1.3180 area.
Trading recommendations - out of the market
AUD / USD
The local pullback of the Australian dollar has not developed much despite the global weakening of the US currency. AUD / USD rolled up to the area of 0.7120, where a local resistance zone was formed. In case of continuation of the upward drive, the market may reach 0.7160, however such scenario is unlikely. The pressure on the Australian dollar has a fundamental medium-term nature and we expect the minimums for this pair to be updated. Sales in the current area may be interesting.
Trading recommendations - shorts
Gold
Thursday’s trading session turned out to be gold day. The market finally left the borders of medium-term sideway consolidation (1182-1206) and gained to the area of three-month highs. All our longs open lower 1190 brought a good profit. How will events develop further? The question is whether the gold to return within consolidation, that is, below $ 1216. We see a greater likelihood of this scenario. Today is Friday, traders will take profits and close positions, besides equities stock are locally oversold and would recover some ground today. Futures on US indices show a positive tone at the beginning of the trading day. On this background, gold may fall in the area of 1206, a logical and reasonable correction. This is the area where we can look for the entry point. The most important thing of yesterday trading is the demonstrated desire of the market to go higher. We believe in the medium term, gold will rise to 1234-1235.
Trading recommendations - longs in the $ 1212- $ 1206 area
Thursday, 11 October 2018
Forex TS
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EUR/USD – заявка на рост к уровням 1.1640 сформирована
Ситуация на этом рынке развивается согласно нашим ожиданиям, вчера пара вернулась выше уровня $1.1515, закрытие дня произошло по уровням $1.1517. Сегодня рост европейской валюты продолжается, на ранних европейских торгах пара укрепляется и торгуется вокруг $1.1540. Максимумы дня были обозначены в области $1.1570. Техническая картина благоприятна для развития восходящего импульса на этом рынке. Позиции можно открывать при откатах рынка в область 1.1515-1.1505.
Торговые рекомендации – покупки в зоне 1.1515-1.1505.
GBP/USD – развивает коррекционный откат после сильного роста
Вчера британская валюта активно укреплялась, пара GBP/USD достигла уровней 1.3245. Сегодня мы наблюдаем локальную коррекцию после впечатляющего роста. Локальная тактическая поддержка расположена вокруг 1.3180, далее 1.3135. Возможно коррекционный откат окажется сильнее и может достичь отметки 1.3100. Посмотрим, как трейдеры закроют сегодняшнюю сессию, возможны оба варианта развития событий- развитие коррекции или продолжения роста.
Торговые рекомендации – вне рынка
AUD/USD получил шанс на коррекцию на фоне ослабления доллара
Давление на австралийский доллар сохраняется, вчера пара AUD/USD снижалась, оттолкнувшись от уровня 0.7100. Однако преодолеть зону локальных минимумов 0.7030 пара не смогла. Сегодня снова формируется локальный откат. Таким образом формируется узкий боковой диапазон, а австралийский доллар получил шанс на некоторое восстановление на фоне ослабления доллара. Впрочем, негативные ожидания по австралийской валюте сохраняются.
Торговые рекомендации- продажи в зоне 0.7100
Золото располагает поддержкой 1190 и набирает силы для штурма $1196
Вчера быки по золоту одержали важную тактическую победу – рынок преодолел уровень $1190- сильный уровень сопротивления, а теперь соответственно сильный оборонительный уровень для наступающих быков. Сегодня наступления быков продолжалось до уровня $1196, где быки наткнулись на очередную линию эшелонированной обороны, которая занимает территорию рынка $1196-$1200. Для быков ситуация осложняется еще и тем что за время нахождения котировок ниже $1190, в эту область спустились скользящие средние, усилившие и без того трудно проходимый уровень. На этом фоне наступление быков может замедлиться, а локальная фиксация прибыли подорвет единый наступательный пыл покупателей. Для нас это означает что мы будем находится вне рынка и ожидать развития событий. Возобновление покупок только после основательного закрепления выше $1196. Впрочем, при тактическом отступлении в область оборонительных порядков быков- зона $1190, покупки в данной рыночной ситуации просто обязательны.
Торговые рекомендации- покупки при откате в область 1190 или при проходе 1200
EUR / USD – good application for growth up to the levels of 1.1640
The situation in this market is developing according to our expectations, yesterday the pair returned above $ 1.1515, the daily close occurred around $1.1517. Today, the growth of the European currency continues, the pair gained in early European trading and is trading at around $ 1.1540. The highs of session were designated in the $ 1.1570 area. The technical picture is favorable for the development of an upward momentum in the market. Positions can be opened when the market pulls back lower in 1.1515-1.1505 area.
Trading recommendations – longs around $1.1515-$1.1505.
GBP / USD - develops correctional pullback after strong rally
Yesterday, the British currency actively gained, GBP / USD reached the levels 1.3245. Today we are seeing a local correction after impressive growth. Local tactical support is located around 1.3180, then 1.3135. Perhaps corrective pullback will be stronger and may reach 1.3100. Let's see how traders will close today's session, both scenarios are possible - the development of a correction or continued growth.
Trading recommendations - out of the market
AUD / USD got a chance for correction amid a weakening dollar
The pressure on the Australian dollar remains, yesterday the pair AUD / USD was falling then pushing off from the level of 0.7100. However, the pair could not overcome the zone of local minimum 0.7030. Today, a local corrective pullback is forming again. Thus, tight sideway range is being formed, and the Australian dollar got a chance for some recovery amid a weakening dollar. However, negative middle-term expectations for the Australian currency persist.
Trading recommendations - shorts in the area of 0.7100
Gold has support for 1190 and is gaining strength to storm $ 1196
Yesterday, the gold bulls won an important tactical victory - the market overcame the $ 1190 level - a strong resistance zone, and now a correspondingly strong defensive level for aggresive bulls. Today, the attacking movement of the bulls continued to the level of $ 1,196, where the bulls stumbled upon the next line of echeloned defense, which occupies the territory of the market of $ 1,196 - $ 1,200. For bulls, the situation is further complicated by the fact that during the time when the quotes were below $ 1,190, the moving averages have descended into this area, which increased the already difficult level to pass . On this background, the advance of the bulls may slow down, and local profit-taking will undermine the united offensive enthusiasm of the buyers. For us, this means that we will are out of the market and expect developments. New longs can considered only after a solid consolidation above $ 1196. However, during a tactical retreat down to the area of bullish defensive orders, $ 1190 zone, longs in this market situation are simply obligatory.
Trading recommendations - purchases when market pulls lower to area 1190 once or passing through 1200
Wednesday, 10 October 2018
Crypto TS
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Bitcoin - we expect an increase in trading activity in this market
The first cryptocurrency quotes showed signs of stability yesterday; the market was trading in a tight range around $ 6,530- $ 6,640. Today in Asian session, Bitcoin came under weak pressure and pulled back into $ 6380 zone, where it quickly recovered and gained back to the area of $ 6,470. The capitalization of the first cryptocurrency today is around $ 113 billion. Current technical conditions are favorable for more long positions in the region of $ 6400- $ 6485. We expect some growth in trading activity in the coming days for this market.
Trading conditions - longs at current levels in the region $ 6400- $ 6485
Ethereum is firm around $220
The minimal trading activity remains in this market. Ether capitalization is stable and is around 23 billion dollars. Quotes remain in the region around $ 220 billion.
Trading recommendations - out of the market
FX TS
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trading signals
EUR / USD
On Tuesday, US dollar had a good chance to update local monthly lows against the European currency. As a result, EUR / USD briefly dipped into $ 1.1430, breaking through the support of $ 1.1460. Further developments showed that this was a false breakdown and in US session the quotes of the pair returned above $ 1.1460 and set a session high in the $ 1.1515 zone. Thus, our expectations were completely met. US dollar weakness and overbought were evident at the beginning of the week. Now the markets need to return the pair above $ 1.1515 before the end of the week to provide the proof of their upward intension. We need to wait and expect further developments to open long positions. We also believe that it is extremely dangerous to open shorts at these levels.
Trading recommendations – longs only after market consolidation above the level of 1.1515
GBP / USD
Yesterday this market was trading very technical way and according to our expectations. GBP / USD adjusted to the first support (area 1.3035) and moved to growth during which the two-week maximum was updated. This is a major achievement for the British currency in the current negative fundamental background - the lack of positive news on Brexit and domestic political difficulties in Britain. After the local correction, the pair may continue to grow to 1.3225.
Trading recommendations – longs around 1.3100
AUD / USD
The correctional impulse of the pair developed slightly stronger - the Australian dollar rolled back to the area of 0.7125. After reaching this mark, the upward correctional move began to lose the momentum. The current levels are interesting for medium-term shorts as the fundamental background for the Australian currency is highly negative.
Trading recommendations - shorts
Gold
Gold is trading volitile throughout the first half of the week. Yesterday, the market was again declining to $ 1182 and again confirmed the sustainability of this support level. The market rolled back to $ 1190, but could not overcome this mark. Today, the weak pressure on the precious metal has resumed, quotes fell to $ 1187. We are waiting for the market to overcome the resistance of $ 1,190 to open long positions.
Trading recommendations- longs when the market overcomes resistance $ 1190
Tuesday, 9 October 2018
FX TS
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trading signals
On Monday on the day-off and thin market, EUR/USD pair finally dropped below $ 1.1515 and moved into a narrow consolidation area, limited by the resistance levels $1.1515/$1.1525 and the lows of the past week - $1.1460 zone. It is interesting enough that so far the market didn’t develop real downward movement and this declines seems unconvincing. However, the US dollar index also shows signs of a tactical overbought and instability of the upward momentum. The most important question for this market right now is whether a further downward move will occur or will the pair recover back into the border of a wide side range, above the level of $ 1.1515. If the $ 1.1440 zone breaks through, negative market sentiment will increase and the next tactical support will be located in the $ 1.1405 area.
Trading recommendations - longs in the zone 1.1460 and below
GBP/USD
On Monday GBP / USD traded volatile way. The pair tried to consolidate above the nearest $ 1.3100 level, but failed to do so. The strengthening of the dollar dropped the quotes below this mark; as for four weeks the British currency market could not overcome this level. It seems that the market is heading for the next support zone in the 1.3000 area. In this case, the market will implement consolidation within 1.3000-1.3100. This might present opportunities for more longs.
Trading recommendations – longs in the area of 1.3000
AUD / USD
After reaching a local minimum in the area of 0.7030, on Monday the pair implemented a tactical upward pullback to the area of 0.7075. Thus was expected price market action. Today, corrective growth may continue in the area of 0.7100. This local retracement can be used to open mid-term short positions for this instrument. Medium-term expectations for the Australian dollar remain highly negative.
Trading recommendations - shorts in the area 0.7060-0.7100
Gold
On Monday, sellers dropped the quotes of this market down to the area of the new local minimum of this wide sideway consolidation, the area of $ 1182. Now, after the second decline of the market in this area, we can consider these levels as a new official support for this wide area of consolidation ($1206-$1182). On Tuesday, bulls are trying to return the market above the previous support of $ 1190. The development of the future situation in the gold market depends on whether the bulls will be able to return quotes above the $ 1,190 mark. However we recommend consider longs on current market levels and lower.
Trading recommendations - longs when the market passes $ 1,190https://www.fortfs.com
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