Trading tactics for 20.10 - 24.10

EUR/USD (H4)

EUR/USD is unlikely to trade lower than the formed price support levels at 1.27093 and 1.25975. As regards to the current situation on the market, the asset has a potential to rise up to the first resistance level at 1.28604. Besides that, it’s important to notice that EUR/USD is located in the upward trend, and it highly motivates traders to buy the euro against the American dollar.

The most important news that can affect the market on this week is the Consumer Price Index in the USA and the Manufacturing Purchasing Manager’s index in a few European countries.

Trading tactics for binary options look as follows:

- A confident breach of resistance level at 1.28604 will give a signal to buy the euro up to 1.29821.

- In case of any negative news, if the support level at 1.27093 will be breached, it will give a signal for the fracture trend and form a new level at 1.25975.

We recommend: TO BUY higher than 1.29821.

 

GBP/USD (H4)

GBP/USD confidentially trades in the down trend. Such location of the price chart will give a signal for a further pressure on the British pound. A breach of the boundary values (the support level at 1.58838 and the resistance level at 1.60710) will give an effective signal for trading with binary options.

Besides that, it’s important to notice that the Core Retails Sales report and the GDP results will be published on this week. The release of such economic news can form a conductive speculative activity.

Trading tactics for binary options look as follows:

- A breach of the resistance level at 1.60710, will give a signal for a further buying of the British pound opposite the down trend.

- In case of an opposite direction of the down trend, a new level 1.58838 will be formed.

We recommend: TO AWAIT or TO SELL lower than 1.60710.

 

USD/JPY (H4)

USD/JPY is again located in a trading range. An increased investment attractiveness of the Japanese economy has speculatively strengthened the currency. Besides that, it is important to notice, that the Japanese yen has been depreciated for a long time, therefore a correction in this case is technically objective.

There will be no important macroeconomic statistics for Japan released on this week, that’s why some external factors will mostly affect trading in the market.

Trading tactics for binary options look as follows:

- A breach of the technical barrier at 107.01 will result into trading with Call Options.

- A further strengthening of the JPY will form a level down to 105.48.

We recommend: TO AWAIT or TO SELL down to 105.48.

 

AUD/USD (H4)

AUD/USD trades sideways. A breaching of the boundary values will give an effective signal to trade binary options. It’s important to mention the next resistance levels like 0.88081 and 0.88990, and the price support level at 0.86846.

Out of the whole newsflow, we would like to pay your attention to the Monetary Policy Meeting Minutes that will be published by the Reserve Bank of Australia on Tuesday during the Asian trading hours.

Trading tactics for binary options look as follows:

- Going beyond the limit value at 0.88081, will open a perspective level at 0.88990.

- Testing of the support level at 0.86846 can create a bearish trend (Put Options).

We recommend: TO AWAIT or TO SELL down to 0.86846.

 

GOLD (H4)

The four-hour price chart for GOLD tends to move in direction of the upward trend. A confident breach of the resistance level at 1242.41 will give a signal to reach the next price resistance level at 1262.08. A strong argument, in regards to purchases, is that the asset is located in the upward trend, and it can motivate investors to mostly orientate on trading with Call Options.

Trading tactics for binary options look as follows:

- A breach of the resistance level at 1242.41, will form a new rise stage up to 1262.08.

- In case of intense selling and any negative results a new level at 1227.55 can be formed.

We recommend: TO BUY higher than 1242.41.

 

SP500 (H4)

SP500 tends to trade opposite after its unsuccessful attempt to decrease in value. Besides that, the last macroeconomic data for the USA gave hope to sellers that the index would continue to fall. We would like to note, that trading focused on selling the asset until the end of this week will be a pause against such sentiments.

During the week, an awaiting position among traders is likely to happen, based on the expectations of the next financial newsflow.

Trading tactics for binary options look as follows:

- In case of further purchases higher than 1894.1, it will almost completely block the decline from the beginning of October.

- Intense selling will form a target down up to 1861.1, and down to 1812.2.

We recommend: TO BUY up to 1894.1.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions.