Trading tactics for 01.02 - 05.02

EUR/USD

EUR/USD on the last week had reached the 1.0970 mark, but then started to decline, despite of the negative US data and the positive statistics for the Eurozone. Nevertheless, the trading ranges of EUR/USD are still located in 1.0777 – 1.0986. The pair can continue to move along the downtrend and reach the nearest support level at 1.0777. If the trend reverses, EUR/USD can return to its maximum value from January, which is located at 1.0986. Since a lot of economic reports are expected in the beginning of each month, some short-term and long-term trends might form.

We recommend to pay attention to the block of PMI reports for the Eurozone and the USA. As to the USA, the Crude oil inventories report and the Unemployment rate also will be released.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.0986.

- in case of fall, we recommend to sell down to 1.0777 and lower.

We recommend: TO SELL

 

GBP/USD

GBP/USD has showed the short rise, but still continues to trade without a certain trend. The pair's trading ranges are now located in 1.4078 – 1.4413. If the British pound increases in value, GBP/USD can reach its resistance level at 1.4413. If the pair continues to grow, its price chart can return to its minimum values from the beginning of January. The moving averages stay down, that’s why the important support level at 1.4078 can easily be reached. Traders should pay a lot of attention to the GBP/USD’s price chart at the time of important economic releases.

On this week we recommend to pay attention to the PMI reports for the UK and the USA. The Interest rate decision for the UK will be announced on this Thursday, and will define the further value of the British pound.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.4413 and higher.

- in case of further fall, we recommend to sell down to 1.4078.

We recommend: TO SELL

 

AUD/USD

AUD/USD has started to actively increase in value and has almost reached its maximum value from the beginning of January. The Reserve bank of Australia is planning to soon announce its interest rate decision, which will further impact the AUD's value. Traders expect big fluctuations, and in the same time the pair's value can change on background of such expectations. The phase of active purchases and active sales might begin. In case of any positive data, the price chart can easily breach the important resistance level at 0.7170 and continue to further increase in value. Otherwise the pair can return to its lows and reach the important support level at 0.6826.

The Interest rate decision for Australia will be announced on Tuesday morning. Traders should also pay attention to the Retail sales report for Australia. As to the USA, the PMI reports and the Unemployment rate will be published.

Binary Option Trading Tactic:

- in case of further rise, we recommend to buy up to 0.7170 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 Interest rate decision for Japan had been announced, USD/JPY increased by 2 points and formed the new high at 121.68. If that level is breached, the pair can continue to move along the upward trend. The pair's trading ranges are now located in 119.06 – 121.68. After such sharp rise, traders expect a further decline, which can lead to active sales among investors. In that case USD/JPY’s value can reach down to the nearest support level at 119.06. During the whole week the asset’s price will directly depend on the US economic releases.

There will be no important statistics for Japan. As to the USA, we recommend to pay attention to the PMI reports, the Unemployment rate and the Crude oil inventories data.

Binary Option Trading Tactic:

- in case of further rise, we recommend to buy from 121.68.

- in case of fall, we recommend to sell from 121.68.

We recommend: TO AWAIT

 

USD/CHF

USD/CHF is still located in the upward trend with tendencies for a further rise. USD/CHF has formed the new high at 1.0255, which is also the important resistance level. If that level is breached, a new phase of purchases among traders might begin. The trading ranges of USD/CHF are located in 1.0110 – 1.0255. In case of an opposite direction, the nearest support level will locate at 1.0110. In case of any strong negative US data, the pair can continue to fall down to its minimum values from January. Any of the price chart's further moves will give traders a great chance to make good profit.

There will be only some secondary economic news for Switzerland, therefore traders should pay their attention to the US statistics. In particular, to the PMI reports, the Unemployment rate and the Crude oil inventories data.

Binary Option Trading Tactic:

- in case of fall, we recommend to sell down to 1.0110.

- in case of rise, we recommend to buy up to 1.0255 and higher.

We recommend: TO BUY

 

USDRUB

USD/RUB continues to decrease in value, and trades near its minimum value from the beginning of January. The pair's price was also affected by the Russian interest rate decision. The data has remained on the previous level, which has positively influenced the Russian ruble. The USD/RUB’s trading ranges are now located in 78.25 – 73.55. In case of further decline, the nearest support level will located at 73.55. If the trend reverses, the nearest resistance level is located at 78.25. If that level is breached, a new phase of purchases might begin.

There will be only a few secondary reports for Russia. We recommend traders to pay attention to the US statistics. In particular, to the PMI reports, the Unemployment rate and the Crude oil inventories data.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 78.25 and higher.

- in case of further fall, we recommend to sell down to 73.55 and lower.

We recommend: TO SELL

 

GOLD

Gold has showed the record growth. The asset has formed the new maximum value at 1127. Now the asset trades near its highs and locates at 1117. Gold's trading ranges are low located in 1108 – 1127. On this week there will be a lot of important US data, therefore the asset can easily change its direction, which gives traders a good chance to earn money. The nearest resistance level is located at 1127. If that level is breached, Gold can form a new maximum value. In case of any positive US data, the asset can decrease in value and reach the nearest support level at 1108.

There will be a lot of important statistics for the USA, such as the PMI reports, the Unemployment rate and the Crude oil inventories data.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1127.79.

- in case of fall, we recommend to sell down to 1108.06 and lower.

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.