Hello, dear friends!
The main news of this week is already known - an agreement has been reached on the withdrawal of The UK from the EU before the end of October. There will be no hard Brexit, the GBPUSD pair continues to rally against this background and at the moment came close to the level of 1.3000.
Jean-Claude Juncker and Boris Johnson stated that all the provisions of the deal were agreed. Now there are formalities - to approve it at the EU summit and to get support from the English Parliament. All of this could happen before the end of this week.
Support from the Brexit deal was also received by the European currency, the EURUSD pair was fixed above the resistance of 1.1100. Pessimism about the growth rate of the American economy also plays a role.
In the second half of Thursday in trade note the following news:
- 15:30 GMT - number of building permits issued in the United States;
- 15:30 GMT - US manufacturing activity data (FRB Philadelphia);
- 18:00 GMT - U.S. crude oil reserves.
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EURUSD pair prepares to work out the main goal of bullish movement
Yesterday's resistance of 1,1060 was broken, after which they received a new zone of termination of 1.1064-1,1085, its boundaries and will determine the prospects of the currency pair in the near future. We take two scenarios into the work:
- a true breakdown of resistance 1.1085 and the development of the main target for bullish movement (level 1,1107). At the retest of the level 1.1085 you can buy, in the area of 1.1108 to look for a reversal pattern;
- true support breakdown at 1,1064. When fastened under it we sell with the first goal at 1.0992.
The rally on the British pound continues
Another batch of good Brexit news allowed the GBPUSD pair to gain a foothold above the strong resistance of 1.2788. At the time of the review, the sharp growth continues, the upper limit of the last termination zone 1.2658-1.2876 has been breached. Depending on the further behavior of the schedule, we consider:
- option with continued growth - this requires a smooth correction to the level of 1.2876. The goal for long positions is 1.3170, and follow the behavior of the chart at the psychologically significant mark of 1.3000;
- sales - at a sharp return to the level of 1.2876 and pinned under it. The first benchmark for take-profit is the level of 1.2658 and then focus on local lows.
AUDUSD has a bear-like scenario, and important resistance has been broken
The main goal of downward resistance has not been worked out. There was a reversal and a breakdown of important resistance at the level of 0.6805. Here are the options:
- consolidation behind resistance of 0.6805 with the prospect of moving to 0.6882;
- return momentum to 0.6805. You can sell, there is a possibility of resuming the downward movement with the ultimate goal of 0.6674.
USDJPY pair is in limbo
Since yesterday there have been no strong movements on this instrument. Now we are in the zone 108.59-108.90, deals are possible for both purchase and sale:
- buy at a true breakout level of 108.90, the main target is located at 109.28;
- for sales you need a breakdown of the level of 108.59 with mandatory confirmation. Take profit can be placed at 108.08.
Bear signal is being prepared for gold
On Thursday, we see a breakdown of the lower boundary of the break-out zone 1487-1493. In priority short positions, consider several options for sales:
- test from below level 1487, this scenario is being implemented at the time of the preparation of the market review;
- false breakout of resistance 1493 or 1496. Sales target is 1460.
Purchases are also not excluded. It is advisable to wait for the true breakdown of the levels of 1493 or 1496 and only then enter the market. Possible entry point with the extension of the lower boundary of the zone 1487-1493. Profit is fixed at 1503, 1510 and 1517 marks.