Tuesday, 9 October 2018
FX TS
Labels:
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
Subscribe to:
Post Comments
(
Atom
)
No comments :
Post a Comment