Monday, 26 November 2018

FX TS

Posted by Anonymous at 11:48 Labels: trading signals

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

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