Trading tactics for 07.03 - 11.03

EUR/USD

EUR/USD has started to gradually grow after its prolonged decline. The pair is still located in the 1.08 – 1.09 trading ranges, nevertheless EUR/USD has succeeded to form a new low at 1.0827, which is also the important support level. With any positive tendencies EUR/USD can reach the nearest resistance level at 1.1068. The asset's price chart locates quite close to the important levels, but some strong fundamental data will be needed in order to reach them. It's worth noting, that a slight trend reversal is already seen. Until any clear trends we recommend traders to preferably open short-term positions.

As to the Eurozone, the Interest rate decision will be announced and will affect the further value of the euro. The GDP data might also cause some various short-term tendencies. As to the USA, we recommend to pay attention to the Crude oil inventories report.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.1068 and higher.

- in case of fall, we recommend to sell down to 1.0827 and lower.

We recommend: TO AWAIT

 

GBP/USD

GBP/USD has shown an intense rise, by growing from the 1.38 mark up to 1.41 during the last week. With such pace GBP/USD can soon reach the nearest resistance level at 1.4288. It's worth noting, that there won't be much economic data on this week, therefore the asset's price will mostly depend on traders' activity. In case of any negative tendencies GBP/USD can also return to its previous values. The important support level is located at 1.3835. We recommend traders to pay a lot of attention to the pair's price chart at the time of important economic releases.

As to the UK, the Manufacturing production report will be published. As to the USA, we recommend to pay attention to the Crude oil inventories data.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.4288 and higher.

- in case of fall, we recommend to sell down to 1.3835.

We recommend: TO BUY

 

AUD/USD

AUD/USD has actively increased in value on background of the positive GDP data for Australia. The pair has succeded to rise from the 0.71 level up to 0.73, and still keeps tendencies for a further growth. With such increase AUD/USD has formed a new high at 0.7377, which is also the important resistance level. The pair’s current price is located quite close to this level, therefore it might be easily breached. In that case AUD/USD can form a new maximum value. If the pair starts to decline, traders will also have a great chance to make profit.

There will be only some secondary data for Australia. As to the USA, we recommend to pay attention to the Crude oil inventories report.

Binary Option Trading Tactic:

- in case of further growth, we recommend to buy up to 0.7377 and higher.

- in case of fall (the USD strengthening), we recommend to sell from 0.7377 and lower.

We recommend: TO BUY

 

USD/JPY

USD/JPY still trades without a clear trend. The price chart's further move is indefinite. The trading ranges of USD/JPY are still located in 111.04 – 114.87. The pair has succeeded to rise from the 112 mark up to 114, but afterwards its value fell down to 113. We recommend traders to earn money on short-term deals before any clear trends will finally form. The nearest resistance level is still located at 114.87. In case of further decline, the important support level will locate at 111.04. We also recommend to follow the price chart's next move when the fundamental data for Japan will be published.

The GDP data for Japan will be released and will have a strong impact on the Japanese yen. As to the USA, we recommend to pay attention to the Crude oil inventories report.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 114.87 and higher.

- in case of fall, we recommend to sell down to 111.04 and lower.

We recommend: TO AWAIT

 

USD/CHF

In the beginning of the last week USD/CHF has succeeded to form a new one-month high by reaching the 1.0038 mark. But afterwards the price chart returned to its previous values near the 0.99 level. Now the asset keeps negative tendencies, but there also might be a move along the upward trend. We recommend traders not to open long-term deals until any clear tendencies. The nearest resistance and support levels are located at 1.0038 and 0.9852. As there will be no fundamental data on this week, the pair can trade in a narrow range for a long time.

There will be only some secondary data for Switzerland. As to the USA, we recommend to pay attention to the Crude oil inventories report.

Binary Option Trading Tactic:

- in case of fall, we recommend to sell down to 0.9852 and lower.

- in case of rise, we recommend to buy up to 1.0038 and higher.

We recommend: TO AWAIT

 

USDRUB

USD/RUB has continued to move along the downtrend and has formed a new low at 72.67, which is also the important support level. If that level is breached, a new phase of decline can begin. If the trend reverses, the nearest resistance level will locate at 76.34. The pair's further value will directly depend on traders' activity and the US economic releases. We recommend traders to pay a lot of attention to the resistance and support levels, and to the price chart's direction in the short-term perspective, as there might be some short-term tendencies.

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

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 76.34.

- in case of fall, we recommend to sell down to 72.67 and lower.

We recommend: TO SELL

 

GOLD

Gold has shown a record rise and has reached its 13-month high at 1274.40. The reason for such intense growth was the USD's weakening on background of the US employment data. A phase of active purchases might also occur. The nearest resistance level is located at 1274.40 and might be easily breached in case of any negative data for the USA. In that case the asset can form a new maximum value. If the trend reverses, traders can also make good profit on the asset's fall. In the long-term perspective the important support level is located at 1190.

As to the USA, we recommend to pay attention to the Crude oil inventories report.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy from 1274.40 and higher.

- in case of fall, we recommend to sell from 1274.40 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