Wednesday, 28 November 2018

FX TS

Posted by Anonymous at 12:52 Labels:
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 
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