Friday, 12 October 2018
FX TS
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trading signals
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
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