Trading tactics for 23.05.2016 - 27.05.2016

EUR/USD

EUR/USD has continued to actively decrease in value due to the USD's strengthening. The pair has fallen by 2 points and reached the 1.11 mark. There might be a further decline, but the price chart currently shows a slight trend reversal. New tendencies are expected, since on this week there will be a lot of various statistics. The nearest support level is located at 1.1179 and can be easily breached. If the pair’s price continues to grow, we recommend to pay attention to the important resistance level at 1.1350.

As to the Eurozone, the German GDP data, the ZEW Economic sentiment and the Ifo Business Climate index will be released. As to the USA, we recommend to pay attention to the New Home Sales, the Crude oil inventories, the Core Durable goods orders and the GDP data for the 1st quarter.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.1350.

- in case of fall, we recommend to sell down to 1.1179 and lower.

We recommend: TO AWAIT

 

GBP/USD

GBP/USD during the last week showed the intense rise, by growing from the 1.43 level up to 1.46. Afterwards the pair's price chart has changed its direction. GBP/USD started to decrease in value and dropped down to the 1.45 mark. The fundamental data for the UK and the USA is expected on this week, which will allow traders to open profitable trades. The asset's price keeps falling and can breach the important support level at 1.4486, which will also lead to active sales. In case of positive data, we recommend to pay attention to the nearest resistance level at 1.4664.

On Thursday the GDP data for the 1st quarter for the UK will be published and will strongly affect the British pound's value. As to the USA, we recommend to pay attention to the New Home Sales, the Crude oil inventories, the Core Durable goods orders and the GDP data for the 1st quarter.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.4664.

- in case of fall, we recommend to sell down to 1.4486 and lower.

We recommend: TO SELL

 

AUD/USD

AUD/USD has continued to fall in price and renewed its 3-month low. The fluctuations were caused by the negative data for Australia and the USD’s strengthening. The asset’s price has stopped at 0.72. During this year AUD/USD has first shown such prolonged negative dynamics. The nearest support level is located at 0.7174 and can be easily breached. AUD/USD’s further value will directly depend on the US economic releases. The important resistance level is located at 0.7401.

There will be no important data for Australia. As to the USA, we recommend to pay attention to the New Home Sales, the Crude oil inventories, the Core Durable goods orders and the GDP data for the 1st quarter.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 0.7401.

- in case of fall, we recommend to sell down to 0.7174 and lower.

We recommend: TO SELL

 

USD/JPY

USD/JPY has significantly increased in value due to the positive GDP data for Japan for the 1st quarter. The Japanese yen's value has grown, which has immediately reflected on the price chart. For two days USD/JPY has risen by 2 points. The asset continued to increase, even despite the positive US data. In that case USD/JPY can easily breach the nearest resistance level at 110.60. In case of a trend reversal, we recommend to pay attention to the nearest support level at 108.24.

There will be only some secondary data for Japan. As to the USA, we recommend to pay attention to the New Home Sales, the Crude oil inventories, the Core Durable goods orders and the GDP data for the 1st quarter.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 110.60 and higher.

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

We recommend: TO BUY

 

USD/CHF

USD/CHF continued to actively increase in value and reached its 3-month high. The pair's price has stopped at 0.99. USD/CHF keeps positive tendencies and can breach the nearest resistance level at 0.9928, which will undoubtedly lead to purchases' increase among traders. The 1.00 level might be breached, but USD/CHF’s further value still will directly depend on the US economic releases. In case of fall, we recommend to pay attention to the nearest 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 New Home Sales, the Crude oil inventories, the Core Durable goods orders and the GDP data for the 1st quarter.

Binary Option Trading Tactic:

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

- in case of rise, we recommend to buy up to 0.9928 and higher.

We recommend: TO BUY

 

GOLD

Gold showed the sharp and prolonged decline due to the American dollar's strengthening. The USD's growth was caused by the expectations of the Fed's interest rate increase. Gold has reached its 3-week low and continues to trade in the 1240-1260 range. On this week there might be new positive and negative trends, since there will be a lot of the US economic data. The nearest resistance and support levels are located at 1260.80 and 1243.49.

As to the USA, we recommend to pay attention to the New Home Sales, the Crude oil inventories, the Core Durable goods orders and the GDP data for the 1st quarter.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1260.80 and higher.

- in case of fall, we recommend to sell down to 1243.49 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.