Trading tactics for 20.06.2016 - 24.06.2016

 

EUR/USD

EUR/USD during the last week has formed various short-term trends, but in a long-term perspective the pair trades in a narrow range. Now in the asset's price chart a new positive trend is about to occur, which can make the pair to reach the nearest resistance level at 1.1321. We recommend traders to pay attention to the value's next move at the moment of important releases for the Eurozone and the USA. In case of fall, the important support level will locate at 1.1114.

As to the Eurozone, the German ZEW Economic sentiment and the Manufacturing PMI will be released. As to the USA, we recommend to pay attention to the Existing Home sales, the Crude oil inventories, the New home sales and the Core Durable goods orders.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.1321 and higher.

- in case of fall, we recommend to sell down to 1.1114.

We recommend: TO BUY

 

GBP/USD

GBP/USD traded in a narrow range until the Interest rate data for the UK and the USA had been announced. The American dollar had significantly decreased in value, while the British pound started to grow. Both tendencies have immediately reflected on the pair's price chart. After its active fall, GBP/USD has risen from the 1.40 level up to 1.43 and still keeps perspectives for a further increase. The important resistance and support levels are located at 1.4658 and 1.4015.

On Thursday, the Brexit Referendum will be held, which might cause some fluctuations in the GBP value. As to the USA, we recommend to pay attention to the Existing Home sales, the Crude oil inventories, the New home sales and the Core Durable goods orders.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.4658.

- in case of fall, we recommend to sell down to 1.4015.

We recommend: TO BUY

 

AUD/USD

AUD/USD continues to trade in a narrow range. Afther the US economic releases, the pair has formed the short negative trend, but afterwards returned to its previous values. During the whole week AUD/USD traded mostly near the 0.73 mark. The important economic releases on this week can lead to new trends. In case of intense growth, we recommend to pay attention to the nearest resistance level at 0.7503. With any negative tendencies, the important support level will locate at 0.7284.

As to Australia, the RBA Meeting minutes will be published. As to the USA, we recommend to pay attention to the Existing Home sales, the Crude oil inventories, the New home sales and the Core Durable goods orders.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 0.7503.

- in case of fall, we recommend to sell down to 0.7284 and lower.

We recommend: TO AWAIT

 

USD/JPY

USD/JPY has formed the clear negative trend. The pair has renewed its low from August 2014. On the last week the Interest rate data for Japan and the USA has led to the pair's prolonged decline. USD/JPY's trading ranges are located in 103-107. On this week USD/JPY’s price will directly depend on the US economic releases. The nearest resistance and support levels are located at 107.25 and 103.56.

There will be only some secondary data for Japan. As to the USA, we recommend to pay attention to the Existing Home sales, the Crude oil inventories, the New home sales and the Core Durable goods orders.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 107.25.

- in case of fall, we recommend to sell down to 103.56 and lower.

We recommend: TO SELL

 

USD/CHF

USD/CHF continued to trade near its minimum values, but in a long-term perspective it’s still located in a narrow range. We recommend traders to preferably open only short-term trades until a clear trend appears. USD/CHF’s trading ranges are still located in 0.95 – 0.96. The nearest support level is located at 0.9573 and can be easily breached. In case of rise, we recommend to pay attention to the important resistance level at 0.9776.

Only some secondary data for Switzerland will be released. As to the USA, we recommend to pay attention to the Existing Home sales, the Crude oil inventories, the New home sales and the Core Durable goods orders.

Binary Option Trading Tactic:

- in case of fall, we recommend to sell down to 0.9573 and lower.

- in case of rise, we recommend to buy up to 0.9776.

We recommend: TO AWAIT

 

GOLD

Gold has continued to move along the upward trend. The announcement of the US Interest rate decision has led to the USD's sharp fall, which has been reflected on the asset's price chart. Gold's price has reached the 1314 mark, which is its maximum value from August 2014 and currently the nearest resistance level. There will be a lot of US data on this week, which can lead to new trends. In case of fall, the nearest support level will be located at 1256.47.

As to the USA, we recommend to pay attention to the Existing Home sales, the Crude oil inventories, the New home sales and the Core Durable goods orders.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1314.95 and higher.

- in case of fall, we recommend to sell down to 1256.47.

We recommend: TO BUY

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.