Friday, 30 November 2018
FX TS
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Friday session marks the end of November, and when we look at the markets in the last month of the year, the situation reminds the alignment of forces characteristic to the 1st quarter of 2018. When the year came into its force, US dollar was under pressure and the sense of risk was precarious. Let's see how the last month of the year will manifest itself in the markets.
EUR / USD
First, we want to note the feature of today session - this is the so-called “triple close”. The day is rare and very important. It is believed that on such days it is better to stay out of the market.
In addition to Friday session close, November 30, the market will close the entire trading week, and, most importantly, the trading on November.
In this regard, we expect multidirectional movements and the struggle of the opposing sides for the closing price relative to the level 1.1400.
The key and closest resistance today is located in the price zone 1.1400-1.1420 and further down to 1.1460. Any impulse to these "waters" will be accompanied by a quick profit taking and sellers' attempt to ride the slide and activate a stop orders located under the 1.1360 mark.
The nearest support is in the area of 1.1363-1.1348. Although we maintain positive expectations for the Euro, the situation can evolve in any scenario.
Trading recommendation –out of the market
Thursday, 29 November 2018
FX TS
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There have been a shift of market sentiments in the middle of the five-day period, and it seems that the inactive part of the trading week was left behind. Many of these changes occurred at the end of Wednesday when Fed chairman confirmed recent speculation that the Fed would be more inclined to slow down the process of normalizing policy, amid risks associated with too quick rate hike.
EUR / USD - another technical market reversal
Yesterday, the market situation once again changed dramatically after the speech of the Fed Chairman, that is, after the strategic fundamental factor. It is interesting how fundamental factors sometimes adapt to the market technical picture. Not once we noticed that the technical picture was already predetermined with the further course of events, and the smallest external push for the market was needed, and often this push is the fundamental news such as NON-FARM, or the speech of regulator chief or something else.
So what is happening in the main FX market. After the level 1.1300 was expectedly broken, the market slowed down at 1.1270, the local technical level, weak support. We must admit that we were pretty sure that we were going down to monthly lows around 1.1220, and only after that we would move on to growth. Yesterday it was clear that the sellers were exhausted and they had no strength to move the market lower. US dollar index spent yesterday's European session around annual highs at 97.45 and no one believed that USD would go higher on the eve of G20 start in Argentina.
In general, the market situation has not changed - EUR / USD is still trading within a wide range of 1.1220-1.1430 / 1.1465. Moreover, the fact that quotes did not reach the lower boundary of the channel (1.1220) this time suggests that the test of the upper boundary (zone 1.1430-1.1465) will be more serious this time. Bulls have a good chance to break through this level and pass to 1.1515. It is also interesting that the market immediately entrenched above the median line of this wide range -1.1360, this level is now the nearest main support.
Resistance levels remain the same, now sellers defense zone starts from 1.1420 and reaches up to 1.1465.
Trading recommendations - longs when rolling back to the area 1.1360
GBP / USD- still under pressure
Yesterday's weakness of the US currency led GBP / USD to 1.2830, and, in our opinion, this is not enough to believe in the formation of an upward momentum. The nearest resistance zone is the area of 1.2865-1.2875. However, the market is still oversold and any move lower can be used to open long positions in the 1.2770 area.
Trading recommendations - out of the market
AUD / USD- impressive growth on Wednesday
The growth of the Australian dollar on Wednesday was impressive. The pair pushed off from the level of 07200 and rose to the area of the three-week maximum of 0.7340. Exactly the same outcome we were expecting at the beginning of the week. Today we should expect profit taking and a technical pullback in the 0.7300 area. Positive sentiment on the market persists.
Trading recommendations - cautious longs in the 0.7300-0.7290 area
Gold has returned above $1220
The change in the medium-term market sentiment and the correction in the American dollar certainly affected the gold market. What is important is that the market returned above 1220, leveling the slide to $ 1212, which of course needed to be used to open longs. Now we have the situation of the beginning of the week, when the bulls dropped from an important level of $ 1225. Now the gold bulls have the same difficult task to consolidate above this level. Do they have the strength to do this? The question is open, given the eve of G20 summit in Argentina, amid all this informative noise around US-China trade relations. So far, it is clear that gold is still in the global demand, and our task is to pick it up the gold once market pullbacks in the area of 1219 and even lower in the 1215-1212 area. However, the second option does not seem to be given for a long time now. Fixing above 1225 and even higher around 1228 is also unlikely in the near future. As a result, most likely before the end of the week we will see range trading within 1220-1225. Local support levels are 1223 and 1221 marks.
Trading recommendations – longs with pullbacks when rollbacks
Wednesday, 28 November 2018
FX TS
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We're into the middle of the week and as things stand, US Dollar is in the driver's seat, as the greenback getting a lot of help from a Tuesday session. However, the question is how long it can last - the dollar is overbought and the annual maximums have already been reached. BOE financial stability report and stress tests ahead, followed up by first US data and a Fed Powell appearance.
EUR / USD
As a result of the trading session on Monday, we can state that the market broke through the support level 1.1300 and today in early European session, EUR / USD pair is trading at 1.1270. This is a local support level, and it is weak to stop the current downward movement of the market - thus, we can expect market testing of a local minimum in the area 1.1240-1.1220. However, the situation is still not entirely certain and it is better to stay out of the market and watch the development of events.
Trading recommendations - out of market
GBP / USD
No significant changes in this market over the past day has happened. GBP / USD is trading near four-month lows - the zone 1.2730-1.2700. If the market continues to decline then the next target will be in the area of 1.2660. However, the British currency is oversold and it is dangerous to open short positions in such a situation.
Trading tips - outside the market
AUD / USD
The market was able to consolidate above the support of 0.7200, however, the pair failed to develop an upward momentum — the bulls met strong resistance at around 0.7260. Further market dynamics are also not determined. Neat long positions in the 0.7200 zone can still be interesting.
Trading recommendations - longs in the area of 0.7200
Gold
Yesterday, gold quotes declined to $ 1213- $ 1214. The expected development of events after the bulls were dropped from an important mark of $ 1225. We have indicated that the main support is located in the $ 1215 area, now the support area extends to the level of 1211.
Trading recommendations - longs in $ 1211- $ 1215
Tuesday, 27 November 2018
FX TS
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Markets are trying to shake off the holiday hangover to focus on the final trading weeks of the year . Overall, we’ve been seeing some renewed dollar pressure, downside sentiment in stocks and mixed price action on the commodities , with goold supported into dips, and oil collapsing off its October, yearly high.
EUR / USD - the expected 1.1300 storm is in proses
In the medium term, we maintain positive expectations for the European currency, while we should expect another test of support for 1.1310-1.1300, and then the probable pass to local minimum in 1.1225 zone. Today, sellers will try to push the zone 1.1325-1.1300 and reset the quotes to the local minimum zone 1.1225. All attention is now to the area 1.1300, this is a fairly strong support area, and one can expect false breakdowns as well.
Trading recommendations - out of the market
GBP / USD is trying to find support in the area of 1.2800
The consolidation of the British currency continues. However, the pound found support in the 1.2800-1.2830 zone. It is premature to assume that the bulls seized the initiative. The nearest resistance is located at 1.2880. Only after the quotes are fixed above this first resistance level will we be able to consider entry points for long positions. Selling in an oversold market is also very dangerous.
Trading recommendations - out of the market
AUD / USD - current target 0.7340
On Monday, the Australian currency found support in the 0.7225, this is the rising line of support for the channel formed. Resistance is located at 0.7265 and further at 0.7300. However, the market can not yet form an upward growth momentum. We should wait and see with this market.
Trading tips - outside the market
Gold - buyers can not yet take $ 1225
Last week, the bulls were dropped from $ 1225. This is the main level for which the struggle is now underway; in order to confirm their intentions, the bulls must gain a foothold above this mark. The first support is located in the $ 1220 zone, it is from here that the current upward momentum has emerged. However, this level is of a tactical nature, and the strategic bullish defense zone is located below - in the area of 1215.
Trading recommendations - shopping around $ 1215
Monday, 26 November 2018
FX TS
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EUR / USD - a difficult start of the week for the European currency, support zone 1.1300-1.1325
The new trading week begins with restraint Euro sentiment on the background of a strong US dollar. USD dollar index is trading near the annual maximum in the zone of 96.85 points, and it is a strong resistance zone. There is reason to expect a local and short-term weakening of the dollar- index adjustment from 96.85 level. As for the European currency, EUR / USD technical picture implies the preservation of sideway range within 1.1310-1.1465. It should be also noted that the previous week was closed in favor of sellers - a pullback from $ 1.1465 leaves the medium-term downtrend from the 1.2400 mark in force. It is possible that this week will be decisive, since there is no reason to assume that the narrow consolidation that has been going on for five weeks will be able to persist for a long time. We maintain positive expectations for the European currency, while we should expect the next test 1.1310-1.1300, and perhaps even the market move to local minima in 1.1225 zone. The market has formed a kind of reversal pattern of the head and shoulders, the neck level of which is just at the level of 1.1465. Overcoming this mark will send quotes to the zone 1.1610, but this is only in case of a confident 1.1465 breakthrough. This is only a possible prospect of the next trading sessions.
On Monday, in early European trading session, the pair is growing up and is trying to overcome local resistance 1.1370. Taking this mark will open the way to the area of 1.1430, however, this upward momentum does not inspire confidence yet, and it is frankly weak, the bears retain control over this market and sales will resume in the 1.1400 zone. Next, the sellers will try to push the zone 1.1325-1.1300 and reset the quotes to the local minimum zone 1.1225. Those who wish to sell should look for entry points in the zone 1.1385-1.1400 and higher in the zone 1.1425. However, in the current conditions –shorts are rather risky, as well as longs are still premature too.
Trading recommendations - out of the market
GBP / USD is trying to find support in the area of 1.2800
The tapering consolidation of the British currency continues. However, the pound found support in 1.2800-1.2830 zone. It is premature to assume that the bulls seized the initiative. The nearest resistance is located at 1.2880. Only after the quotes are fixed above this first resistance level we will be able to consider entry points for long positions. Selling in an oversold market is also very dangerous.
Trading recommendations - out of the market
AUD / USD – current impulse target 0.7340
As we expected, the Australian currency found support in the 0.7225 zone, this is the upward line of support for the channel formed. Resistance is located at 0.7265 and further at 0.7300.
Trading recommendations - longs in the zone 0.7255
Gold – buyers still can not take $ 1225
Last week, bulls were dropped from $ 1225. This is the main level for which the struggle is now underway; in order to confirm the seriousness of their intentions, the bulls must gain a foothold above this mark. Support is located in the $ 1220, it is from here that the current upward momentum has been realized. There is a possibility that the market will form a side range $ 1220- $ 1228. However, real support is located in zone 1215.
Trading recommendations - longs around $ 1215
Friday, 23 November 2018
Deposit Bonus 120%
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this is interesting
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Thursday, 22 November 2018
FOREX TS
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US markets are closed for Thanksgiving, which will make for some thin conditions for the remainder of the week. At the same time, thin doesn't necessarily translate to low volatility, especially at a time where economic data is far less meaningful thank what’s going on in the world of global politics.
EUR / USD
After Tuesday session displayed the market pullback down from the level 1.1465 (which is now the closest real resistance), the European currency market found support in the area of 1.1370. Thus, the sideway tactical short term range 1.1370-1.1465 has emerged as we have mentioned in our yesterday's review. It is interesting that the offensive bulls fervor was so weak that yesterday they failed to overcome the nearest resistance in the 1.1410 area. Today, as American traders will celebrate Thanksgiving Day, we expect lower market activity and in such conditions we cannot expect a strengthening of the European currency. The closest support is located in the 1.1370 zone, a stronger level of market support is lower in the 1.1300 area. Trading recommendations remain the same - longs in $ 1.1370 area, if the market dips to 1.1300, we can use this situation to average or open new longs.
Trading recommendations - longs in the 1.1370 area and below in the 1.1300 zone
GBP / USD
The failed assault on the area of 1.2875 brought the British currency quotes down to the weekly lows around 1.2780. Technical analysis indicates that further prospects for the British currency continue to deteriorate. The breakthrough of this level 1.2770 will send the market to update monthly lows in the 1.2660 zone. It is also worth noting that the market is oversold, and this, together with the absence of American traders, suggests that it is better to stay out of the market for today.
Trading recommendations - out of market
AUD / USD
Yesterday, the Australian currency market was trading within a narrow range 0.7200-0.7265. In early European trading, the pair pushed off from the mark of 0.7200 and gained to the area of 0.7265, where the players recorded a profit. So, the market has unloaded the recent local overbought and now we can look for an entry point for long positions. A suitable area of the market in our opinion is the zone 0.7230-0.7200.
Trading recommendations - longs in the 0.7230-0.7200 area
Gold
Yesterday, the gold market was able to overcome the $ 1225 mark, now the main question we are considering is whether this breakthrough above this significant level is valid, or should this breakthrough to be considered false. In early European trading, already two four-hour candles closed above the mark of 1225- strong signal. However, we are sure for some reason that bulls to be dropped from this mark and it’s dangerous to open long positions now.
Trading recommendations - out of the market
Wednesday, 21 November 2018
#ToTheMoon Sale. Round 2
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FOREX TRADING SIGNALS
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Global financial markets aren't looking all that stable at the moment and this could make for an even more volatile period into the end of the week, as US traders heading out for the Thanksgiving holiday later today. Wednesday will provide a bunch of data features US durable goods, initial jobless claims, existing home sales and Michigan sentiment.
EUR / USD
European currency market is traded very technically for this week and what is more important- according to the basic expectations of the traders. So far, everything is going on as expected by most analysts, but it is precisely this fact that can alert an attentive observer. As a rule, the market never does the expected and obvious things, but if it does, it is always its own special and unexpected way. What does this mean for us? It is the fact that widely expected Euro growth and the new test 1.1460 may not happen in the near future. In a Monday review, we indicated that the main support for the current situation is located in area 1.1360-1.1355, and so the market rolled back to this zone. However, on Tuesday session, the conditions were formed for the formation of a side range trade within 1.1335-1.1470.
First, on Tuesday, the downward American dollar impulse finally ended, the dollar index fell to the area of strong support, a round level 96 points, and from there it moved to growth. Today, DX is trading around 96.50. There is reason to believe that the dollar index will spend some time in the range 96 - 96.90. Just to remind, that today is the last day of active trading on the global markets this week, since tomorrow the Americans are leaving for the weekend, and next week will be somewhat restrained, as the strategic G20 summit in Argentina begins on November 30 and the markets will be awaiting this event on lwer volumes.
Secondly, the technical picture of the market hints that the bulls do not have the strength for a real assault on the level of $ 1.1470, which means that we can expect a range trade, with possible short-term decline to 1.1300 area, which by the way will represent a good opportunity for longs. As a result, so far market move above 1.1465-1.1470 still looks problematic. Longs can be opened in the area around 1.1370 and lower if touched 1.1300.
Trading recommendations - longs in the zone 1.1370 and lower 1.1300.
GBP / USD
Yesterday, weak bulls attacks were repulsed at a secondary level around 1.270, summarizing the four-day assault on this zone that ended in a victory for the sellers. This is a self-spoke signal. Buyers are completely demoralized. The nearest support is the zone 1.2775, if it does not stand, then the decline will continue to monthly lows in the area of 1.2715.
Trading Recommendation - shorts
AUD / USD
The correction of the Australian dollar continued to the area 0.7210, where the market found support zone, after which it moved to growth. It is interesting that the downward impulse was formed in 0.7290 area exactly where we expected. The closest resistance of the market is located around 0.7265, this is the zone where the current upward impulse of the market goes. Strategic support is located in the 0.7200 zone, in the case of a rollback we can consider longs. In another case, we still recommend staying out of the market and observing the development of the situation.
Trading recommendations - out of the market
Gold
For three days, gold is trading in a narrow range around 1219-1225. Yesterday's dollar growth did not put pressure on the gold market, which in itself is a positive signal for the precious metal. Looks like the market is consolidating and accumulating volume for the assault of resistance $1225. However, taking into account the close and long American weekend, we do not expect that a successful assault on this area of 1225 will take place this week.
Trading recommendations –longs when market pulls back to $ 1215- $ 1216
Tuesday, 20 November 2018
Monday, 19 November 2018
FOREX TS
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We're back into the new week and market things are off to a quiet in Europe on Monday. Trade tension between the US and China continues to be in global focus and still run high. This is what is going to influence the market agenda throughout the week and we need to watch the issue closely, given the impact on global sentiment and FOREX activity
EUR / USD – displayed strong weekly reversal, tactical goal is around $ 1.1515
The new week starts with the continuing correctional USD dollar weakness, and technically speaking, it might provide some fuel more European currency growth. The situation in this market has changed a lot in recent trading days. On Friday, the market displayed a strong reversal signal - the weekly candle indicates that the bulls confidently seized the initiative and are aimed at achieving their tactical goals. Strategically, the support area $ 1.1300 can still be considered valid, and secondly, the European currency remained within a wide long-term range 1.1300-1.1770. The target of the current upward impulse is the middle zone of the indicated range -$ 1.1515. But before reaching this level, the market must overcome the strong and viscous area of resistance 1.1430-1.1460. Let's see how events will develop, we maintain positive expectations for the European currency. We can expect a pullback from the level of 1.1430, in this case, support area 1.1370 -1.1300, can be interesting for long positions.
Trading recommendations - longs in the area of 1.1370-1.1300
GBP / USD – still can't recover after powerful Sale-off on Thursday
The British currency is still unable to recover from massive sales last Thursday. The pair is located at the bottom of the range 1.2700-1.3290. However, in early European trading, the pound managed to consolidate above the tactical resistance 1.2840 and is trading around Friday's highs in the area of 1.2870. In this situation, any growth in the British currency can be viewed as a corrective pullback and used for more shorts. Resistance is located in area 1.2920.
Trading recommendations - sales in the area of 1.2920
AUD / USD-classic technical reversal took place
As we expected, last week the Australian currency left the range 0.7290-0.7040. The market has designated a classic reversal formation on weekly timeframe. However, the new local maximum, zone 0.7340 is a strong resistance area and there is no reason to wait for the market to pass quickly this level. Support is close and located in the 0.7290 area, and a pullback to this zone can be viewed as an excuse for new long positions.
Trading recommendations - longs in the 0.7290 area
Gold- weekly close above 1215, is a tactical buyers victory
Marked closed the Friday session above 1214-1215 and this is a strong bid for continued growth. Now it is a zone of a strong support area and the nearest bulls rears, they will protect this level at any cost. This allows us to open long positions and join the growth in the event of a pullback. The resistance is located close in the area of 1225 - we think that it will take some time to overcome this zone and during the week we will see several pullback to the area of $ 1214- $ 1215.
Trading recommendations - longs in the area of $ 1214- $ 1215
Thursday, 15 November 2018
FX TS
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EUR / USD
The positive development of the situation with Brexit influenced not only the British currency, but also the European. It should also be noted that the Brexit news coincided with the technical correction of the US dollar, so the dollar index pulled away from the annual highs and found support in the area of 96.60. Yesterday, the European currency was able to break above 1.1300, now the new tactical support area and resistacne is around 1.1350 zone.
Trading recommendations - out of the market
GBP / USD
The British currency continues to trade volatile amid volatile news background. On Tuesday, the pair returned to the strategic resistance level of 1.3000. However, despite the positive news regarding Brexit, the market decided to sell the British pound. Yesterday, sales increased from the resistance level of 1.3000 - the pair fell to the area of 1.2810. Further decline will lead quotes of this market down to the area of four-month lows - 1.2660 zone.
Trading recommendations - sales
AUD / USD
Support 0.7160 proved to be firm and allowed the Australian currency to maintain positive sentiment. Yesterday, the pair was able to play back all the losses and consolidated into the zone of the recent maximum - zone 0.7280. Overcoming this mark will open the way to the 0.7340 area.
Trading recommendations- longs after pullback
Gold
This week the market fell to a strategic support level $ 1205- $ 1206 and further to the $ 1200 area. As we expected, this zone is of strategic importance to the market and allowed buyers to seize back the initiative. Taking advantage of US dollar weakness , the bulls were able to move quotes up to the new resistance zone around 1215. We do not think that the market will be able to overcome this zone on the move, the immediate support is located in the $ 1,206 zone.
Trading recommendations - longs around $ 1206
Wednesday, 14 November 2018
FortFS is pleased to announce the launch of the "Welcome Bonus 75 USD" promotion.
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FX TS
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EUR / USD
US currency rally led the US dollar index quotes to the highs of 2017, a zone of 97.50 points. After that, a corrective pullback to 96.50 was triggered. This eased the pressure on the European currency. In addition, the achievement of new lows provoked profit taking and short positions close, as a result, the pair grew into the area of recent support 1.1300. We should not expect that the pair will overcome the level of 1.1300 - the transition into a new range is an accomplished long-term fact. Shorts positions is an interesting strategy in the current conditions.
Trading recommendations - shorts
GBP / USD
The British currency continues to trade volatile amid volatile news background. On Tuesday, the pair returned back to the strategic resistance level around 1.3000. Overcoming this level is not an easy task. If successful, the path might move up to the area of recent highs - this is the zone 1.3070 and further 1.3250. In case of a pullback, the market will find support in the area around 1.2940.
Trading recommendations - out of the market
AUD / USD
The Australian dollar marked the highs around 0.7290 zone, after which it switched to decline amid the strengthening of the American dollar. The support is located in the 0.7160 area, from where the last short-term impulse originated, but the growth failed to develop. The pressure on the Australian dollar remains - a breakthrough of 0.7260 eliminates all current applications of the Australian dollar for growth.
Trading recommendations - out of market
Gold
The market fell to a strategic support level around $ 1205- $ 1206 and further to the area of $ 1200. Now it all depends on whether this mark will hold. In the case of increasing pressure and a breakthrough of this zone, the market will move to the level of $ 1,180. However, the bulls have a chance to stop falling on this strong technical mark.
Trading recommendations - out of the market
Tuesday, 13 November 2018
FX TS
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EUR / USD
Pressure on the market persists, and judging by the close of the previous week, in the upcoming five-day week we can see new local minimums for the European currency. So now, in priority we must have shorts. Today, the pair is trading in the support area around $1.1230, a breakthrough of this zone will open the way to the $1.1120 area. Resistance is now around $1.1300.
Trading recommendations - shorts
GBP / USD
The strengthening of the dollar had a strong pressure on the British currency. On Friday, the GBP / USD pair broke through the strategic support of 1.3000, and on Monday the zone 1.2920 was broken as well. However the market decline was halted in the area of 1.2840, after which the pair corrected to the zone of 1.2925. The current situation is not certain - we remain out of the market.
Trading recommendations - out of the market
AUD / USD
The Australian dollar marked the highs in the 0.7290 zone, after which it switched to decline amid the strengthening of the American dollar. Support is located in the area of 0.7190 and further in the area of 0.7160.
Trading recommendations - out of market
Gold
The market fell to a strategic support level of $ 1205- $ 1206 and further to the area of $ 1200. Now it all depends on whether this mark will hold around this psychological level. In the event of increased pressure and a breakthrough of this zone, the market will move to a new range of $ 1,200- $ 1,180. However, the bulls have a chance to stop falling on this strong technical mark.
Trading recommendations - out of the market
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