Trading tactics for 25.01 - 29.01

EUR/USD

The pair continues to trade without a certain trend, and is still not leaving the 1.0779 – 1.0985 trading ranges. EUR/USD is currently located in the downtrend, but according to the price chart, the trend is likely to reverse again. Nevertheless, such location of the price chart can be used to open successful short-term trades. In case of further decline, the nearest support level is located at 1.0779. If that level is breached, EUR/USD might continue to move along the downtrend and reach the next support level at 1.0711. In case of an opposite direction, the pair could reach the resistance level at 1.0985, which is also the asset's one-month high.

The important data for the Eurozone will be only released in the beginning and in the end of this week. We recommend to pay attention to the German Ifo Business climate index and the Consumer price index reports. As to the USA, all the reports will be published during the whole week. We recommend to pay attention to the CB Consumer confidence and the GDP report for the 4th quarter.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.0985.

- in case of fall, we recommend to sell down to 1.0779 and lower.

We recommend: TO AWAIT

 

GBP/USD

GBP/USD has been decreasing in value since January 2016, and has fallen from 1.48 to 1.40. The pair has formed the new low at 1.4080. Last Thursday the trend was reversed because of the positive data for the UK. The pair's price has started to gradually grow. Traders are intended to increase purchases, which can make the price chart to reach the nearest resistance level at 1.4478. In case of any positive data for the USA, or any negative UK data on this week, GBP/USD can return to its minimum value at 1.4080. If that support level is breached, a new phase of decline can begin. The important fundamental data is expected only in the end of the week, therefore a sideways trading or some short-term trends may occur.

On this week traders should pay their attention to the GDP reports for the UK and the USA, which will surely define the pair's further move.

Binary Option Trading Tactic:

- in case of further rise, we recommend to buy up to 1.4478.

- in case of decline, we recommend to sell from 1.4080 and lower.

We recommend: TO BUY

 

AUD/USD

Last week AUD/USD has formed the new low at 0.6826, which is also the important support level. The pair's trend has also been reversed and has influenced the asset to increase in value. With such pace AUD/USD can reach the nearest resistance level at 0.7049. If that level is breached, a new phase of purchases can begin and the pair can return to its values since the beginning of January. If the American dollar strengthens, AUD/USD can further decrease in value and reach its support level at 0.6826. There might be new short-term trends at the time of economic releases.

Traders should pay attention to the important economic reports for Australia and the USA. As to Australia, the Consumer price index report will be released, as to the USA – the GDP report for the 4th quarter and the CB Consumer confidence data.

Binary Option Trading Tactic:

- in case of further rise, we recommend to buy up to 0.7049 and higher.

- in case of fall (the USD strengthening), we recommend to sell down to 0.6826.

We recommend: TO BUY

 

USD/JPY

After the positive economic releases for the USA in the end of the last week, USD/JPY started to gradually increase in value. The pair's trading ranges are now located in 115.97 – 118.80. The asset keeps tendencies for a further rise and can reach its nearest resistance level at 118.80. During the whole week the pair's value will directly depend on the American dollar, since there will be only some secondary data for Japan. In case of the USD’s fall, USD/JPY can continue to decline, which can lead to the nearest support level at 115.97.

There will be no important data for Japan. As to the USA, we recommend to pay attention to the GDP report and the CB Consumer confidence.

Binary Option Trading Tactic:

- in case of further rise, we recommend to buy up to 118.80 and higher.

- in case of fall, we recommend to sell down to 115.97.

We recommend: TO BUY

 

USD/CHF

USD/CHF is located in the upward trend and keeps tendencies for a further increase. The pair is lot leaving the 0.9960 – 1.0147 trading ranges. USD/CHF’s further move will directly depend on the American dollar. In case of any positive US data, the asset can breach the 1.0147 mark, which can lead to active purchases among traders. In case of an opposite direction, the pair will still locate within its trading ranges and can fall down to the support level at 0.9960. The price chart's current location will allow to open profitable trades in a short-term period. In the beginning of the week USD/CHF can trade sideways.

There will be only a few secondary releases for Switzerland, therefore traders need to pay their attention to the US economic reports. In particular, to the GDP report and the CB Consumer Confidence.

Binary Option Trading Tactic:

- in case of fall, we recommend to sell down to 0.9960.

- in case of rise, we recommend to buy up to 1.0147 and higher.

We recommend: TO BUY

 

USDRUB

After its prolonged growth, USD/RUB has started to decrease in value because of the US negative statistics. Nevertheless, the pair has formed the new maximum value at 85.86, which is also its important resistance level. The pair’s new trading ranges are now located in 75.93 – 85.86. Most traders are expecting the beginning of a new phase of decline after its prolonged growth. But during this week the price chart might form a new upward trend. In case of further fall, the nearest support level is located at 75.93. We recommend traders to look at the price chart of USD/RUB at the moment of the important US releases.

As to Russia, the Interest rate decision will be announced and will define the further value of the Russian ruble. As to the USA, we recommend to pay attention to the CB Consumer confidence and the GDP report for the 4th quarter.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 85.86.

- in case of further fall, we recommend to sell down to 75.93.

We recommend: TO SELL

 

GOLD

Gold trades positively, but without a certain trend. During the last week the asset was located in the 1082.24 – 1109 trading ranges. Due to the large amount of economic indicators, which affect the asset's value, Gold traded unstable, which gave traders a lot of chances to increase their profits by opening short-term trades. If the American dollar weakens, the asset can easily get back to its maximum value at 1112 and continue to move along the upward trend. If the asset declines, the nearest support level is located at 1082. In the beggining of this week Gold might trade in a narrow range due to the lack of important economic news for the USA.

There will be a lot of important US data on this week, in particular the GDP report and the CB Consumer confidence. Gold's value will strongly depend on these releases.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1112.44.

- in case of fall, we recommend to sell down to 1082.24.

We recommend: TO AWAIT

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.