Trading tactics for 04.01 - 08.01

EUR/USD

EUR/USD trades without a certain trend, but still locates in the 1.0802 – 1.1059 trading ranges. In case of any positive data for the Eurozone, or any negative data for the USA, EUR/USD can reach its maximum value at 1.1059, which is also the pair's important resistance level. In case of an opposite direction, the price chart can reach the nearest support level at 1.0802. If that level is breached, a new phase of decline can begin, which can be considered as a strong signal to open a profitable trade.

On this week there will be important releases for the Eurozone and the USA, such as the block of PMI reports. The data can have a strong impact on the pair's value.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to the 1.1059 level.

- in case of decline, we recommend to sell down to 1.0802 and lower.

We recommend: TO AWAIT

 

GBP/USD

GBP/USD continues to trade negatively, and has formed the new minimum value at 1.4786. If that support level is breached, there might be active sales. The pair is still located in the 1.4786 – 1.4948 trading ranges, that's why the price chart's further move will directly depend on important economic releases. If GBP/USD trades in the upward trend, it can reach the nearest resistance level at 1.4948 and continue to increase in value. In case of an active rise, the price chart can also reach the next resistance level at 1.5240.

On this week traders will expect the important data for the UK and the USA, therefore there might be some short-term positive or negative tendencies. We recommend to pay attention to the PMI reports for the UK and the USA, and the US Unemployment data.

Binary Option Trading Tactic:

- in case of further rise, we recommend to buy up to 1.4948.

- in case of fall, we recommend to sell from 1.4786 and lower.

We recommend: TO SELL

 

AUD/USD

AUD/USD is still located in the upward trend with the new trading ranges of 0.7208 – 0.7382. Some negative economic releases for the USA have positively affected the pair's value. AUD/USD can easily reach the resistance level at 0.7382, which is also its maximum value for December. If the price chart reverses, the nearest support level will be located at 0.7208. The reaching of that level will be a strong signal to open a trade. In regards to the upcoming economic news, AUD/USD can form some new long-term trends.

Traders should pay attention to the important economic news for Australia and the USA. As to Australia, the Retail sales report will be released, as to the USA – the block of PMI reports.

Binary Option Trading Tactic:

- in case of further rise, we recommend to buy up to 0.7382.

- in case of fall (the USD strengthening), we recommend to sell down to 0.7208 and lower.

We recommend: TO BUY

 

USD/JPY

USD/JPY continues to actively decrease in value, which was definitely affected by the US negative data. The pair has formed a new minimum, and now the price chart is located in the 119.99 – 121.54 trading ranges. If the support level at 119.99 is breached, there might be a new phase of decline. In case of an opposite trend, USD/JPY can reach the resistance level at 121.54 and continue to rise. The price chart's further move is indefinite, therefore traders should pay a lot of attention to the resistance and support levels. Besides, the pair's value on this week will directly depend on the American dollar.

There will be no important data for Japan on this week. As to the USA, we recommend to pay attention to the block of PMI reports, and the Unemployment report for December.

Binary Option Trading Tactic:

- in case of further fall, we recommend to sell from the 119.99 level.

- in case of rise, we recommend to buy up to 121.54.

We recommend: TO SELL

 

USD/CHF

USD/CHF showed a sharp rise after the prolonged sideways trading, which also formed the new resistance level at 1.0032. But the pair is still located in the 0.9786 – 1.0032 trading ranges. The pair's price will directly depend on the American dollar. In case of any negative US data, USD/CHF can reach the important support level at 0.9786. Because of these expectations, a phase of active purchases and sales might occur.

There will be only some secondary data for Switzerland on this week, that's why traders should pay a lot of attention to the US economic releases. In particular, to the PMI reports and the Unemployment data.

Binary Option Trading Tactic:

- in case of fall, we recommend to sell down to 0.9786.

- in case of rise, we recommend to buy up to 1.0032 and higher.

We recommend: TO AWAIT

 

USDRUB

USD/RUB continues to trade in the upward trend. There's a new maximum value at 74.77, which is also the important resistance level. The new trading ranges are now located in 67.02 – 74.77. If there's any positive data for the USA, we can expect to see new maximum values. Otherwise, the pair's price chart continues to locate near the 70 level, and at the same time the nearest support level at 67.02 will prevent the asset to further decrease in value.

There will be only some secondary data for Russia on this week, that's why traders should pay a lot of attention to the US economic releases. In particular, to the PMI reports and the Unemployment data.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 74.77 and higher.

- in case of fall, we recommend to sell down to 67.02.

We recommend: TO BUY

 

GOLD

Gold trades negatively and locates near its month's minimum value. Gold trades now near the 1061 level, but there might be some strong price movements during the week. The nearest resistance level is located at 1081. If the American dollar weakens, Gold might actively increase in value. If the asset continues to trade in the downtrend, it can reach the support level at 1047, which is also the pair's minimum value for December. There also might be some short-term negative or positive tendencies.

There will be many important economic news for the USA on this week, such as the block of PMI reports and the Unemployment data. Gold's value will strongly depend on these economic releases.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1081.19.

- in case of fall, we recommend to sell down to 1041.29.

We recommend: TO SELL

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.