Monday, 15 October 2018
Forex TS
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trading signals
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
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