Friday, 9 November 2018
FX TS
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Crypto
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trading signals
EUR / USD
Over the past two days, the market situation has changed dramatically. If at the beginning of the week we observed a weakening of the US currency and some signs of a middle-term reversal, then after two major events in the middle of the week (elections to the American parliament and the Fed meeting), the dollar again feels very confident and is trading close to recent yearly maximums. In this situation, the European currency is under very strong pressure. The chart shows a very strong downward signal-market painted a false breakthrough of resistance 1.1430. With such a picture, we see that the pair again fell into the zone of annual minimums and the new storm of 1.1300 is again relevant. It is obvious that there is no need to go long at such levels, it is too late to sell. We stay out of the market and look forward to a weekly market close.
Trading recommendations - out of the market
GBP / USD
After a quick breakout of 1.3000 level earlier this week, this market continued to grow to the zone of 1.3170, where the pair adjusted lower to the 1.3000 area. Now this is a strong support zone. With such a strengthening of the US dollar, there are risks of breaking through this level and shifting the market lower. However, it is worth selling only after fixing below 1.3000,
Trading recommendation – out of the market
AUD / USD
USD dollar growth has changed the balance of power in this market. The Australian dollar marked highs in the 0.7295 area and then moved on to the correction. Now, support is located in the 0.7200 zone, where the market is apparently heading. In early European trading, the market is trading around 0.7240.
Trading recommendations - out of the market
Gold
USD dollar large-scale gain pushed gold quotes to the levels of two-week lows. After breaking through the support zone around $ 1226- $ 1224, the market fell to $ 1220. This area (1216-1220) is an area of medium-term demand and a strong support zone. This is an area of strategic support. Medium-term longs in this zone may be interesting.
Trading recommendations - longs in the area of strategic support $ 1215- $ 1216
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