Trading tactics for 29.02 - 04.03

EUR/USD

EUR/USD is located in the downtrend, but currently trades in a narrow range. The pair has formed a new one-month low at 1.0956, which is also the important support level. With strong negative tendencies this level might be easily breached, since the price chart's value is located very close to the barrier. In that case some active sales might occur. From the middle of the last week EUR/USD had only been trading near the 1.10 mark. The trading ranges of EUR/USD are located in 1.0956 – 1.1194. With any positive forecasts we recommend to pay attention to the nearest resistance level at 1.1194. Until a clear trend appears, we recommend traders not to open long-term trades.

As to the Eurozone, the Consumer price index and the German unemployment change reports will be released. As to the USA, we recommend to pay attention to the Pending home sales report, the Crude oil inventories data and the Unemployment rate.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.1194 and higher.

- in case of fall, we recommend to sell down to 1.0956 and lower.

We recommend: TO AWAIT

 

GBP/USD

GBP/USD during the last week had fallen down to 1.3878, and had formed a new 2-month low. Afterwards the price chart started to show some positive tendencies. GBP/USD has reached the 1.40 level and keeps perspectives for a further growth. The new trading ranges of GBP/USD are now located in 1.3878 – 1.4410. The nearest resistance level is located at 1.4410. With negative dynamics the pair can continue to decrease in value. In that case we recommend to pay attention to the nearest support level at 1.3878, which can be easily reached. In the beginning of the upcoming week, there might be active purchases among traders.

As to the UK, the Manufacturing and Construction PMI reports will be released. As to the USA, we recommend to pay attention to the Pending home sales report, the Crude oil inventories data and the Unemployment rate.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.4410.

- in case of fall, we recommend to sell down to 1.3878 and lower.

We recommend: TO BUY

 

AUD/USD

AUD/USD is still located in the upward trend, and has formed a new high at 0.7257 instead of previous value at 0.7243. In case of any positive data for Australia or negative data for the USA the pair can breach the nearest resistance level at 0.7257. AUD/USD’s price chart is also located near the important support level at 0.7145, therefore the asset's further value will directly depend on important economic releases. Some strong fluctuations are expected, just like new maximum and minimum values, which will give traders a great chance to make profit.

There will be important statistics for Australia, which will influence the pair's value. The Interest rate decision will be announced on Tuesday, and the GDP data will be released on Wednesday. As to the USA, we recommend to pay attention to the Pending home sales report, the Crude oil inventories data and the Unemployment rate.

Binary Option Trading Tactic:

- in case of further growth, we recommend to buy up to 0.7257 and higher.

- in case of fall (the USD strengthening), we recommend to sell down to 0.7145 and lower.

We recommend: TO BUY

 

USD/JPY

USD/JPY continues to trade in a narrow range. Nevertheless, the pair has succeeded to trade near its 2-month low at 110.99. According to the price chart's location, there were no strong fluctuations, and after its prolonged decline the pair started to gradually increase in value. USD/JPY’s value is now located near the 113 level. We recommend traders to preferably open short-term trades before any clear trends will form. The nearest resistance and support levels are located at 110.99 and 114.99. With positive tendencies the pair can reach the 114.89 level and get to the next resistance level at 117.53.

There will be only some secondary data for Japan. As to the USA, we recommend to pay attention to the Pending home sales report, the Crude oil inventories data and the Unemployment rate.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 114.89 and higher.

- in case of further decline, we recommend to sell down to 110.99 and lower.

We recommend: TO BUY

 

USD/CHF

USD/CHF continues to trade in a narrow range. The pair has succeeded to reach the 1.000 level, but afterwards the price chart returned to its previous values near the 0.9900 mark. Just like with most other assets, traders should better open short-term trades, since the price chart's further move is indefinite. The nearest resistance level is located at 1.0075. With any negative tendencies we recommend to pay attention to the important support level at 0.9850, which also can be easily breached. In that case there might be some active sales among investors.

As to Switzerland, there will be several secondary reports. Nevertheless, the GDP data will be published on Wednesday, and can cause some short-term tendencies. As to the USA, we recommend to pay attention to the Pending home sales report, the Crude oil inventories data and the Unemployment rate.

Binary Option Trading Tactic:

- in case of fall, we recommend to sell down to 0.9850 and lower.

- in case of rise, we recommend to buy to 1.0075 and higher.

We recommend: TO AWAIT

 

USDRUB

USD/RUB trades negatively and locates between the 74.56 – 78.25 levels. The pair couldn't breach the nearest support level at 74.56. Now the price chart is located very close to this value, that's why a new low soon can form. In case of any positive US data, we recommend to pay attention to the nearest resistance level at 78.25. Despite the pair is still located in the downtrend, on the upcoming week there will be lots of different US data, therefore new short-term and long-term trends might form.

There will be only some secondary statistics for Russia. As to the USA, we recommend to pay attention to the Pending home sales report, the Crude oil inventories data and the Unemployment rate.

Binary Option Trading Tactic:

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

- in case of fall, we recommend to sell down to 74.56 and lower.

We recommend: TO SELL

 

GOLD

Gold is located in the upward trend, but in a long-term perspective the asset continues to trade in a narrow range, despite it succeeded to reach the 1252 level. The price chart's further move is indefinite, therefore traders should better open only short-term trades before any clear tendencies occur. The nearest maximum value and the resistance level is still located at 1262.69. According to analysts, Gold can possibly reach the $1400 mark, therefore the asset's price chart might show a more intense rise. With any positive US data we recommend to pay attention to the nearest support level at 1190.

As to the USA, we recommend to pay attention to the Pending home sales report, the Crude oil inventories data and the Unemployment rate.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1262.69 and higher.

- in case of fall, we recommend to sell down to 1190.56.

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.