Monday, 19 November 2018
FOREX TS
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trading signals
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
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