Tuesday, 27 November 2018
FX TS
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trading signals
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
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