Trading tactics for 16.05.2016 - 20.05.2016

EUR/USD

EUR/USD in the end of the last week has shown the sharp fall due to the USD's strengthening, and despite the positive data for the Eurozone. The pair has dropped by 2 points and continues to decline. The trading ranges of EUR/USD are located in 1.12 – 1.14. In that case the nearest support level at 1.1283 can be easily breached. In the beginning of this week the price chart can also move in a narrow range. In case of a trend reversal, we recommend to pay attention to the important resistance level at 1.1447.

As to the Eurozone, the Consumer price index report will be released. As to the USA, we recommend to pay attention to the Core Consumer price index, the Crude oil inventories, the FOMC Meeting minutes and the Philadelphia Fed Manufacturing index.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.1447.

- in case of fall, we recommend to sell down to 1.1283 and lower.

We recommend: TO SELL

 

GBP/USD

GBP/USD has continued to trade in a narrow range. The interest rate for the UK has remained on the same level and didn’t cause any fluctuations on the price chart. Only on Friday GBP/USD showed a slight decrease, which was caused by the American dollar's strengthening. The important support level is located at 1.4341 and can be easily breached, if the pair continues to move along the downtrend. During this week several important economic reports will be released, that's why some new trends can occur. The important resistance level is located at 1.4548.

As to the UK, the Labor data, the Consumer price index and the Retail sales reports will be released. As to the USA, we recommend to pay attention to the Core Consumer price index, the Crude oil inventories, the FOMC Meeting minutes and the Philadelphia Fed Manufacturing index.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.4548 and higher.

- in case of fall, we recommend to sell down to 1.4341 and lower.

We recommend: TO SELL

 

AUD/USD

AUD/USD continued to trade negatively, and renewed its 3-month low. The pair keeps tendencies for a further decline, that’s why some new minimum values might occur. There will be important data for Australia, which can cause some fluctuations on the price chart. Therefore some positive tendencies might appear. We recommend to pay attention to the asset’s further move when the economic reports will be about to release. The important resistance and support levels are located at 0.7402 and 0.7253.

As to Australia, the RBA Meeting Minutes and the Unemployment change report will be released. As to the USA, we recommend to pay attention to the Core Consumer price index, the Crude oil inventories, the FOMC Meeting minutes and the Philadelphia Fed Manufacturing index.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 0.7402 and higher.

- in case of fall (the USD strengthening), we recommend to sell down to 0.7253 and lower.

We recommend: TO SELL

 

USD/JPY

USD/JPY during the last week traded in a narrow range without leaving the 108-109 trading ranges. The pair's value is located between the two important resistance and support levels at 109.54 and 108.24. If the USD/JPY’s price breaches one of these levels, we recommend traders to open short-term Call or Put options. We advice not to open any long-term trades before a clear trend occurs. In case of a price chart's intense growth or fall, we recommend to pay attention to the important resistance and support levels at 111.89 and 105.56.

On Wednesday the GDP data for the 1st quarter for Japan will be published. As to the USA, we recommend to pay attention to the Core Consumer price index, the Crude oil inventories, the FOMC Meeting minutes and the Philadelphia Fed Manufacturing index.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 109.54 and higher.

- in case of fall, we recommend to sell down to 108.24 and lower.

We recommend: TO AWAIT

 

USD/CHF

USD/CHF is actively increasing in value, which was caused by the intense purchases among traders. The pair's trading ranges are located in 0.96 – 0.97. The nearest resistance level is located at 0.9775 and can be easily breached. The value of USD/CHF on this week will directly depend on the US economic releases. In case of a trend reversal, we recommend to pay attention to the important support level at 0.9664.

There will be only some secondary data for Switzerland. As to the USA, we recommend to pay attention to the Core Consumer price index, the Crude oil inventories, the FOMC Meeting minutes and the Philadelphia Fed Manufacturing index.

Binary Option Trading Tactic:

- in case of fall, we recommend to sell down to 0.9664 and lower.

- in case of rise, we recommend to buy up to 0.9775 and higher.

We recommend: TO BUY

 

GOLD

Gold had also been trading in a narrow range. The asset's price has stopped at 1272. We recommend to open only short-term trades before any clear trend appears. A lot of US statistics will be published on this week, therefore there might be new positive and negative tendencies. The important resistance and support levels are located at 1280.46 and 1256.70.

As to the USA, we recommend to pay attention to the Core Consumer price index, the Crude oil inventories, the FOMC Meeting minutes and the Philadelphia Fed Manufacturing index.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1280.46 and higher.

- in case of fall, we recommend to sell down to 1256.70 and lower.

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.