Trading tactics for 22.02 - 26.02

EUR/USD

EUR/USD had been actively decreasing in value during the last week, and fell from the 1.12 level down to 1.10. The pair's price chart currently looks indefinite, since there's a possibility, that EUR/USD's value will start to gradually grow. The nearest resistance level is still the same and locates at 1.1376. On the upcoming week traders should pay a lot of attention to the price chart's further move at the time of important economic releases. We recommend traders to make profit on short-term positions. If the asset continues to move along the downtrend, the nearest support level will locate at 1.0811.

As to the Eurozone, we recommend to pay attention to the German GDP report and the Consumer price index. As to the USA, we recommend to pay attention to the GDP data for the 4th quarter, the New home sales and the CB Consumer confidence reports.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.1376.

- in case of fall, we recommend to sell down to 1.0811.

We recommend: TO AWAIT

 

GBP/USD

GBP/USD continues to trade without a clear trend. The pair's value has stopped at 1.42. Just like with EUR/USD, traders should better open short-term positions in the beginning of the new week. The GBP/USD’s trading ranges are still located in 1.42 – 1.45. Moving averages stay down, therefore the pair is likely to further decrease in value. In this case we recommend to pay attention to the important support level at 1.4149, which is also GBP/USD's one-month low. If the trend reverses, the important resistance level will locate at 1.4669.

The UK important statistics are expected only on Thursday, the GDP report will be released. As to the USA, we recommend to pay attention to the GDP data for the 4th quarter, the New home sales and the CB Consumer confidence reports.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.4669.

- in case of fall, we recommend to sell down to 1.4149 and lower.

We recommend: TO AWAIT

 

AUD/USD

AUD/USD continues to trade in the upward trend, but without any clear tendencies. Duiring the last week the pair had always been trading near the 0.71 level, but now there’s a possibility for a further decline. Traders have another good chance to open profitable short-term trades. The pair’s trading ranges haven’t changed and still locate in 0.6973 – 0.7243. The important resistance and support levels are located at 0.7243 and 0.6973. The pair’s further move will directly depend on the US economic releases.

There will be only some secondary statistics for Australia. As to the USA, we recommend to pay attention to the GDP data for the 4th quarter, the New home sales and the CB Consumer confidence reports.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 0.7243.

- in case of further decline (the USD strengthening), we recommend to sell down to 0.6973.

We recommend: TO SELL

 

USD/JPY

USD/JPY continues to trade in the downtrend. Last week the pair had succeeded to grow from the 110 mark up to 115, but afterwards fell down to 112. The trading ranges are still located in 110.94 – 115.54. In case of any strong US data, and active purchases or sales, USD/JPY can easily breach the nearest resistance level at 115.54 and the support level at 110.94. This way a new two-month low might form. In case of intense rise USD/JPY can trade near the next resistance level at 121.64. We recommend traders to pay special attention to the pair's price chart at the time of important economic releases.

There will be no important data for Japan. As to the USA, we recommend to pay attention to the GDP data for the 4th quarter, the New home sales and the CB Consumer confidence reports.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 115.54 and higher.

- in case of further decline, we recommend to sell down to 110.94 and lower.

We recommend: TO SELL

 

USD/CHF

USD/CHF has slightly increased in value, but currently trades in a narrow range. USD/CHF’s price is located very close to the important resistance level at 0.9984. In case of any positive US data, that level can be easily breached, which will lead to the asset's further move along the upward trend. In this case USD/CHF can reach the 1.000 mark. With negative tendencies we'll recommend to pay attention to the important support level at 0.9662. If the expected levels are not reached, we'll recommend to open only short-term trades.

As to Switzerland, there will be only a few secondary reports. As to the USA, we recommend to pay attention to the GDP data for the 4th quarter, the New home sales and the CB Consumer confidence reports.

Binary Option Trading Tactic:

- in case of fall, we recommend to sell down to 0.9662.

- in case of rise, we recommend to buy up to 0.9984 and higher.

We recommend: TO AWAIT

 

USDRUB

USD/RUB in the middle of the last week had fallen from the 78 mark down to 74, and reached its minimum value from the end of January. Now the pair's value is located at 76 and keeps tendencies for a further growth. In case of any negative US data, the nearest support level at 74.53 can be easily breached, which can help a new low to form. In case of further move along the upward trend, we recommend to pay attention to the important resistance level at 80.60, which is also February's maximum value. With any of the price chart's further moves traders will have a great chance to open profitable trades.

There will be no economic data for Russia. As to the USA, we recommend to pay attention to the GDP data for the 4th quarter, the New home sales and the CB Consumer confidence reports.

Binary Option Trading Tactic:

- in case of further growth, we recommend to buy up to 80.60.

- in case of fall, we recommend to sell down to 74.53 and lower.

We recommend: TO BUY

 

GOLD

In long-term perspective Gold had been trading sideways, which allowed traders to make profit only on short-term trades. In the end of the last week, during the American trading hours, the asset started to actively increase in value and had risen from the 1200 mark up to 1236. There might be a further increase. The high at 1262 is still the important resistance level. If Gold starts to fall, we'll recommend to pay attention to the nearest support level at 1180. In case of any positive US data, the asset can breach the 1200 level, which will undoubtedly lead to active sales among investors.

As to the USA, we recommend to pay attention to the GDP data for the 4th quarter, the New home sales and the CB Consumer confidence reports.

Binary Option Trading Tactic:

- in case of further growth, we recommend to buy up to 1262.60 and higher.

- in case of fall, we recommend to sell down to 1180.74 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.