Tuesday, 16 October 2018
FX TS
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trading signals
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
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