Monday, 8 October 2018
FX TS
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trading signals
EUR / USD
New trading week begins with the resumption of USD dollar growth after Friday's Non-farm data. In early European trading, the dollar index rebounded higher to 95.65 points. However, we are wary of this upward impulse. Today is a day off in the USA, Canada and Japan. Trading volumes and market activity on FOREX are at minimal levels. EUR / USD pair in early European trading dropped to 1.1477. These are previous week lows and a local support zone. We recommend staying out of the market for Monday session.
Trading recommendations - out of the market
GBP / USD
Last week, the British pound showed positive sentiment. The week was very successful for GBP. The pair strengthened from 1.2920 to 1.3122. However new week begins with a correction. Support is located in the 1.3000 area. However, before the main volume returns to the market, we recommend staying out of the market.
Trading recommendations - out of the market
AUD / USD
Last week, AUD / USD updated monthly lows in the area of 0.7050 and our expectations for the weakness of the Australian dollar justified. We can see a local correction for this pair this week, as the Australian dollar is oversold. However, this does not change the medium-term picture for this market. We maintain negative expectations for the Australian currency and increased pressure with a medium-term goal of 0. 6890.
Trading recommendations - Shorts with market local pullbacks
Gold
A new week for this market begins with increasing pressure. In early European trading, amid a thin market, sellers were able to push quotes below the support level of $ 1,196. Now this is the resistance level. Immediate support is located in the $ 1,190 area.
Trading recommendations-longs at current levels and lower in the $ 1,190 zone.
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