Friday, 30 November 2018

FX TS

Posted by FortFS at 11:23 Labels: trading signals

Friday session marks the end of November, and when we look at the markets in the last month of the year, the situation reminds the alignment of forces characteristic to the 1st quarter of 2018. When the year came into its force, US dollar was under pressure and the sense of risk was precarious. Let's see how the last month of the year will manifest itself in the markets.

EUR / USD

First, we want to note the feature of today session - this is the so-called “triple close”. The day is rare and very important. It is believed that on such days it is better to stay out of the market.

In addition to Friday session close, November 30, the market will close the entire trading week, and, most importantly, the trading on November.

In this regard, we expect multidirectional movements and the struggle of the opposing sides for the closing price relative to the level 1.1400.

The key and closest resistance today is located in the price zone 1.1400-1.1420 and further down to 1.1460. Any impulse to these "waters" will be accompanied by a quick profit taking and sellers' attempt to ride the slide and activate a stop orders located under the 1.1360 mark.

The nearest support is in the area of 1.1363-1.1348. Although we maintain positive expectations for the Euro, the situation can evolve in any scenario.

Trading recommendation –out of the market

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