Thursday, 14 February 2019

FOREX market trading signals

Posted by Anonymous at 12:07 Labels:

Looks like market did not have time to assess China positive trade data, since the most of market focus concentrates on the political background and news from China-US trade talks. Technically speaking, we are at a critical point in the market when the euro fluctuates just above the 2018 low against the US dollar. The dollar is attempting to continue the growth but the stress that the markets experience, makes it necessary to remain cautious and watch the development of the situation with all positions closed.
EUR / USD - weak data and Spain crisis did not leave euro bulls a chance
The market continues to decline, Monday lows were updated yesterday, quotes returned below the mark 1.1300. Now the strategic support level is located around 1.1215. However, the market is heavily oversold and looks like a compressed spring. It is extremely dangerous to open shorts in such conditions. Now events in the market can develop quickly, as today volatility will be extremely high. This type of market it not the best for opening any positions. It seems that the sellers activated most of the stop orders located around 1.1265-1.1300 zone. Let's see how events will develop today.
 Trading recommendations - out of market
GBP / USD - market support in area 1.2800-1.2830
The decline in the British currency continues today. The market is assaulting an important support level around 1.2845-1.2800. Breakthrough and consolidation under this mark will send market quotes to the 2018 minimum -1.2480.
Trading recommendations - sales if the market passes the area 1.2800
Gold - received a signal for a test of 1300-1296 zone
The shadow of last daily candle from the mark of 1317 is a alarming signal. The pressure on gold now comes from two sides - a rally in equities markets and a gaining USD dollar. Nevertheless, the zone 1296-1300 is still in the center of bull’s attention.
Trading recommendations- purchases 1296-1300
US dollar index - more USD gains 
As we thought, we observed only a correction, on Wednesday the market recovered all losses and continues to grow today. We were alarmed by the fact that on Tuesday that the market had not updated Monday lows. However, in the coming days we will see a rich information background, both in terms of statistics and in terms of geopolitical news. Market volatility may rise again and the dollar will be in the spotlight. The market is overbought, and if buyers do not have enough strength today to show new highs, we will see a fixed profit for the dollar and another correctional pullback by weekend.
Trading recommendations - out of the market
FortFS

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