Trading tactics for 30.05.2016 - 03.06.2016

EUR/USD

EUR/USD has continued to trade near the 1.11 mark without any clear tendencies. Only in the end of the last week the pair started to decrease in value due to the USD’s strengthening. The nearest support level at 1.1110 can be easily breached. The common negative sentiment will allow traders to open profitable long-term trades. Nevertheless, in the middle of this week there might be new trends because of the fundamental data for the Eurozone. In case of growth, we recommend to pay attention to the important resistance level at 1.1293.

On Thursday, the Interest rate decision for the Eurozone will be announced, and will define the further value of the euro. As to the USA, we recommend to pay attention to the CB Consumer confidence, the ADP Nonfarm Employment change, the Crude oil inventories and the Unemployment report.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.1293 and higher.

- in case of fall, we recommend to sell from 1.1110 and lower.

We recommend: TO SELL

 

GBP/USD

GBP/USD has shown the intense growth due to the positive inflation report and the expectations of the GDP data. The pair has risen by 3 points, from the 1.44 mark up to 1.47. But afterwards the price chart changed its direction. The GDP report was negative, and has strongly influenced the GBP/USD's value. The asset's price has stopped at 1.46 and keeps tendencies for a further decline. The nearest resistance and support levels are located at 1.4740 and 1.4478.

As to the UK, the Manufacturing and the Services PMI reports will be released. As to the USA, we recommend to pay attention to the CB Consumer confidence, the ADP Nonfarm Employment change, the Crude oil inventories and the Unemployment report.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.4740 and higher.

- in case of fall, we recommend to sell down to 1.4478.

We recommend: TO SELL

 

AUD/USD

AUD/USD has continued to move in a narrow range. The pair still trades near the 0.71 level without any clear tendencies. At this moment we recommend traders to open only short-term trades. The situation might change in the middle of the week, since the fundamental data for Australia will be released. The nearest support level is located at 0.7143 and can be easily breached. With any positive trends we recommend to pay attention to the important resistance level at 0.7364.

On Wednesday, the GDP data for Australia will be published. Later, the Retail sales report will be released. As to the USA, we recommend to pay attention to the CB Consumer confidence, the ADP Nonfarm Employment change, the Crude oil inventories and the Unemployment report.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 0.7364 and higher.

- in case of fall, we recommend to sell down to 0.7143 and lower.

We recommend: TO AWAIT

 

USD/JPY

USD/JPY trades positively in the 109-110 ranges. The American dollar in the end of the last week has significantly increased in value, which has reflected on the price chart. The positive trend started to gradually form, therefore we recommend traders to pay attention to the asset's further move. The nearest resistance level is located at 110.58 and can be easily breached. In case of decline, we recommend to pay attention to the important support level at 108.22.

There will be only some secondary data for Japan. As to the USA, we recommend to pay attention to the CB Consumer confidence, the ADP Nonfarm Employment change, the Crude oil inventories and the Unemployment report.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 110.58 and higher.

- in case of fall, we recommend to sell down to 108.22 and lower.

We recommend: TO BUY

 

USD/CHF

USD/CHF still trades near its 3-month high. The American dollar continued to actively grow, but the pair's price didn't rise higher than 0.9949, which is also its nearest resistance level. On the USD/CHF’s price chart a new positive trend has started to form, therefore there might be a new maximum value. It’s not excluded, that the 1.00 level will be reached. In case of any negative tendencies, we recommend to pay attention to the nearest support level at 0.9806.

There will be only some secondary data for Switzerland. As to the USA, we recommend to pay attention to the CB Consumer confidence, the ADP Nonfarm Employment change, the Crude oil inventories and the Unemployment report.

Binary Option Trading Tactic:

- in case of fall, we recommend to sell down to 0.9806.

- in case of rise, we recommend to buy from 0.9949 and higher.

We recommend: TO BUY

 

GOLD

Gold has shown the record decline by falling down to the 1206 level, which is the asset's 3-month low. The reason for such reduction was the Fed's announcement about a possible interest rate increase. Besides, during the last week almost all the US data was positive, which led to the prolonged fall. The nearest support level at 1206 can be easily breached. In case of any positive trends, we recommend to pay attention to the important resistance level at 1233.70. The current price chart has two more marked levels, in case the asset will return to its maximum values.

As to the USA, we recommend to pay attention to the CB Consumer confidence, the ADP Nonfarm Employment change, the Crude oil inventories and the Unemployment report.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1233.70 and higher.

- in case of fall, we recommend to sell down to 1206.35 and lower.

We recommend: TO SELL

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.