Hello, dear friends!
On Thursday, the dollar is trying to win back recent losses, but so far there is no strong strengthening. The latest statistics show that the growth of the American economy is slowing down more and more - it reduces the attractiveness of the American.
Previously, bad data on manufacturing activity in the United States were released. On Wednesday, another proof of the slowdown in the economy - employment outside agriculture fell.
Another factor playing against the dollar is the possible complications in relations with the EU on trade issues. The WTO allowed America to impose additional duties of $7.5 billion, a decision due to the fact that the European Union at the time did not comply with the requirements for subsidies to Airbus.
In the second half of Thursday, I recommend to take into account in trade:
- 15:30 GMT - data on primary applications for unemployment benefits in the United States;
- 17:00 GMT - statistics on U.S. industrial orders;
- 17:00 GMT - U.S. non-manufacturing business activity index.
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EURUSD - currency pair chart is at strong resistance
At the time of the review, the chart is at the upper boundary of the 1.0879-1.0958 area. The sales scenario is not canceled, but while there is a correction for the last downward movement, you can look for entry points to buy.
Trading signals are best searched on smaller timeframes. On the M15 you can see the area of termination, formed directly at the level of resistance from the older time interval.
The following signals are possible in the near future:
- The fastening at 1.0963 level, after the formation of the price rounding can be bought with goals of 1.0986 and 1.1000. Further growth is not excluded, so leave some of the volume in the market;
- Sales after testing from the bottom of the level of 1.0956. When you work out the entry point, you can move up to 1.0880.
According to GBPUSD, we consider two scenarios
Here the situation is reminiscent of what is happening at EURUSD. The British is growing against the dollar and at the time of the review is at the resistance (the upper boundary of the area 1.2226-1.2315). Also, on the M15 formed a local zone of termination 1.2303-1,2321.
Consider 3 scenarios:
- The breakdown of the level of 1.2303 and the consolidation under it - sell with a take-profit of 1.2226;
- Pulse growth with a breakout of the level of 1.2321 and an equally sharp return to the termination zone - sales with TR at 1.2226;
- The breakdown of the level of 1.2321 and pinning over it - you can buy.
According to USDJPY, we will give priority to purchase deals
As of mid-afternoon, the chart is at the lower boundary of the 107.00-108.46 zone. The breakdown is unlikely, so the priority of purchase.
On the M15 we work with a range of 107.04-107.23. When approaching the upper boundary of this area, it is expected that the termination will be formed on the lower timeframes, and two scenarios are the most likely:
- The breakdown of the upper boundary with the consolidation of it;
- Expansion with a failed attempt to break down the lower boundary.
In both cases, we buy with a take profit of 107.88, if this level is broken, we expect further growth up to 108.46.
The work on the bullish scenario for USDCAD continues
This currency pair had a breakdown of the upper boundary of the region of 1.3235-1.3304. There is a high probability of continuing the upward movement and achieving resistance at 1.3372.
Entry points are searched on the M5-M15. On the M15 we see the break-out zone 1.3316-1.3327, there was a failed attempt to break its lower boundary, later there was an upward movement with a breakout of the level of 1.3327 and a consolidation over it. The resistance retest has already taken place - you can open deals to buy with a take profit of 1.3372.
The final correction is expected for gold
So far, this instrument has seen the continuation of the upward corrective movement. The schedule has already been returned to the 1479-1556 zone, but this does not negate the priority of short positions. Purchases are not considered yet and we are looking for a point of completion of the correction.
On the M15 we see movement in the termination zone 1497-1504, we consider 2 scenarios for sales:
- Expansion with a failure to break through the upper boundary of the termination area, after fixing under the level of 1504 can enter the market;
- The breakdown of support on 1497 and pinning under it is also a signal for sales.
The goals remain the same.
There is nothing complicated about market analysis. Any of you can make the same markings and find entry points with a probability of working out 70 q%. To teach the rules of strategy Horizon X will take no more than 1.5-2 months, after that daily you will be able to receive 5-7 reliable signals, spending about 1.5 hours on market analysis.