Monday, 5 November 2018
FX TS
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trading signals
EUR / USD
Friday's trading session in the main FX market –EUR/USD was revealing and interesting. The market was growing in the first half of the day, bounced from session lows, as the pair marked session highs in the $ 1.1460 zone. Now this is a main zone of resistance, the breakthrough of which will mark the return of positive expectation back to the market. However, strong Friday data on the US labor market complicates the implementation of such a scenario. Immediately after the release of statistics, the US dollar resumed its growth - the dollar index returned above the level of 96-96.15 points. For EUR / USD, the new week starts with restraint, the nearest local support is in the $ 1.1360- $ 1.1380 area. Thus, the conditions for the emergence for a wide sideway channel of $ 1.1300- $ 1.1440 / 60 with the median equilibrium region in the $ 1.1380- $ 1.1360 zone. Until tomorrow, we do not expect any serious volatility in the market - an important political event will take place tomorrow - the primary election to the US Congress. It is worth waiting for local consolidation and follow the level of 1.1375.
Trading recommendations - out of market
GBP / USD
Friday's dollar pullback did not have a strong impact on this market. Prior to the release of the main statistics on the labor market, GBP / USD rested on strong resistance in the 1.3000-1.3030 area. The new trading weeks begin at about these levels. On Friday, we expected a local GBP pullback at least to the zone of 1.2930, and it looks like this scenario is being transferred into a new week. Our recommendations remain the same, the technical analysis indicates a pullback of the pair to the area of 1.2945 followed by the retest zone 1.3000.
Trading recommendations - longs in the area 1.2945-1.2930.
AUD / USD
Profit taking before the weekend and the growth of the US dollar brought the quotes of this market down to the area of the first local support around 0.7200. We believe that the situation in this market has changed and the further opening of long positions is a kind dangerous. The fact is that the quotes have rested on the downward resistance line, and we remind that we are still in the long-term downtrend. At the same time, we observe how the market will act around the support of 1.7200-1.7170.
Trading recommendations - out of the market
Gold
Although buyers were able to regain control of the market, on Friday the bears won a tactical victory. The market closed below the strategic level of 1233, this is a definite signal that the bulls are not as strong as you might have thought before. This is not surprising after such data on the labor market. Let's see how events will develop this week, the picture is interesting and gold is still the focus of the entire market. The market opens new week around $1231, with a narrow consolidation channel forming $ 1229- $ 1236. Support is located around $ 1228- $ 1226.
Trading recommendations – longs in the area of 1226-1229
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