Trading tactics for 08.02 - 12.02

EUR/USD

EUR/USD has shown the active rise by reaching from the 1.08 level to 1.12. The pair has formed the new one-month high at 1.1240, which is also the important resistance level. The trading ranges of EUR/USD are now located in 1.1072 – 1.1240. In case of any positive US data, the pair can return to its previous values. The nearets support level is located at 1.1072. If the pair actively decreases in value, it will be possible to reach the next support level at 1.0777. Since there will no fundamental economic data in the beginning of the week, the value of EUR/USD will mostly depend on traders’ activity. There might be short-term negative and positive trends.

The important data for the Eurozone will be only published on Friday. We recommend to pay attention to the German GDP report. As to the USA, the important economic reports will be released from the middle of the week and later, in particular the Crude oil inventories and the Retail sales data.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.1240 and higher.

- in case of fall, we recommend to sell down to 1.1072 and lower.

We recommend: TO BUY

 

GBP/USD

GBP/USD has significantly increased in value, and has reached the 1.46 level on background of the positive UK data. Nevertheless, after the Interest rate decision for the UK had been announced, the pair started to gradually fall. GBP/USD trades now near the 1.45 level and keeps tendencies for a further decline. The nearest support level is located at 1.4384. If that level is breached, a phase of active sales can begin. In case of rise, we recommend to pay attention to the important resistance level at 1.4668. Many short-term trends are expected during the week.

The Manufacturing production report for the UK will be released on Wednesday. As to the USA, we recommend to pay attention to the Crude oil inventories and the Retail sales reports.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.4668 and higher.

- in case of further decrease, we recommend to sell down to 1.4384.

We recommend: TO SELL

 

AUD/USD

AUD/USD has renewed its one-month high by reaching the 0.7242 mark. The prolonged growth was caused by the Interest rate decision for Australia. The data has remained on the same level, and has positively affected the pair's value. The short trend reversal is currently seen because of the recent positive reports for the USA. It's worth noting, that during the whole week the pair's value will directly depend on the American dollar. In case of further decline, the nearest support level is located at 0.7003. If the pair continues to trade in the upward trend, we recommend to pay attention to the important resistance level at 0.7242.

There will be only some secondary reports for Australia, which won't strongly influence the value of the Australian dollar. As to the USA, we recommend to pay attention to the Crude oil inventories and the Retail sales reports.

Binary Option Trading Tactic:

- in case of further growth, we recommend to buy up to 0.7242 and higher.

- in case of fall (the USD strengthening), we recommend to sell down to 0.7003.

We recommend: TO AWAIT

 

USD/JPY

USD/JPY has continued to move along the downtrend on background of the negative US data. The pair's price returned to its lows from January. The trading ranges are now located in 119.63 – 115.96. If USD/JPY continues to fall, the nearest support level at 115.96 will be reached. If that level is breached, the asset might form its new minimum value. In case of any positive US data, or active purchases, USD/JPY can reach the imporatnt resistance level at 119.63. There also might be a sideways trading during the week.

There will be no important economic data for Japan. As to the USA, we recommend to pay attention to the Crude oil inventories and the Retail sales reports.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 119.63.

- in case of further decline, we recommend to sell down to 115.96 and lower.

We recommend: TO SELL

 

USD/CHF

USD/CHF in the end of the last week fell from the 1.02 level down to 0.99. Such sharp decline was also caused by the negative US data. The pair has returned to its minimum values from January. The trading ranges are now located in 1.0073 – 0.9902. It is very possible, that the asset will continue to decrease in value. In that case, the nearest support level at 0.9902 will be breached, which can also lead to active sales among traders. In case of any positive US data, the trend might reverse. The nearest resistance level is located at 1.0073. There might be new short-term tendencies.

There will be only some secondary statistics for Switzerland. As to the USA, we recommend to pay attention to the Crude oil inventories and the Retail sales reports.

Binary Option Trading Tactic:

- in case of decline, we recommend to sell from 0.9902.

- in case of rise, we recommend to buy up to 1.0073 and higher.

We recommend: TO SELL

 

USD/RUB

USD/RUB trades without a certain trend. The pair has shown the short rise and fall, but currently started to gradually increase in value. Traders have a great chance to open profitable short-term trades. The pair has not been leaving the trading ranges of 74.52 – 79.81 over the past two weeks. The nearest support level is located at 74.52. In case of any positive US data, the asset can easily reach the important resistance level at 79.81. We recommend traders to pay a special attention to USD/RUB’s value at the time of economic releases, just like on the support and resistance levels.

There will be no economic data for Russia. As to the USA, we recommend to pay attention to the Crude oil inventories and the Retail sales reports.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 79.81 and higher.

- in case of fall, we recommend to sell down to 74.52 and lower.

We recommend: TO AWAIT

 

GOLD

Gold is still showing the record growth. Last week the asset has succeeded to increase from the 1120 mark up to 1160. Gold continues to trade near its highs, and the resistance level at 1160 might be breached. In that case, the asset might form a new maximum value and keep moving along the upward trend. If the asset starts to gradually decrease in value, we recommend to pay attention to the nearest support level at 1108. It's worth noting, that during the week there will not be many economic releases for the USA.

There are expected several important US reports, such as the Crude oil inventories, the Retail sales and the Core retail sales data.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy from 1160.10.

- in case of fall, we recommend to sell down to 1108.14.

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.