Trading tactics for 16.11 - 20.11

EUR/USD

EUR/USD has strengthened in a certain trading range. A noticeable difference between an amount of sellers and buyers makes the pair to locate at 1.08506 – 1.06817. Besides that, the previous economic data for Germany wasn't quite positive. The GDP results for the 3d quarter were worse than the forecast, which made the euro weaker. If such dymanic continues during the whole week, the price chart can reach the support level at 1.06817. Besides that, some expectations of a possible rise of Fed's basic rate will also influence the trading.

Binary option trading tactic:

- in case of a further rise, we recommend to buy up to 1.08506, and after the level will be breached.

- in case of decline, we recommend to sell down to 1.06817.

We recommend: TO SELL

 

GBP/USD

The pair is located near the important resistance level at 1.52194. If the level is confidently breached, we recommend to buy the asset up to 1.53308. At this moment the good macroeconomic data for the UK is affecting the trading. Last Wednesday 11th of November, the unemployment report for October was released. The actual data was better than the forecast and had a positive impact on the GBP's value. That's why a further growth is not excluded.

Binary Option Trading Tactic:

- if the price chart continues to rise, we recommend to buy from 1.53308.

- a new decline will open a target down to 1.51216.

We recommend: TO BUY

 

AUD/USD

AUD/USD trades opposite the active sales. At this moment the price chart is located close to the resistance level at 0.71472. In case of a confident way out of the formed downtrend, there will be new high trading ranges between 0.72649 – 0.71472. It's important to notice, that on Tuesday 17th of November, during the asian trading hours, most investors will pay a lot of attention to the Monetary Policy Meeting Minutes, published by the Reserve Bank of Australia. In the same time a sales activity can occur, because possible results could be disappointing for traders, as it indicates a slowing economic growth.

Binary Option Trading Tactic:

- In case of a further rise, we recommend to buy from 0.71472.

- in case of a new fall, sales could go down to 0.70450.

We recommend: TO SELL

 

USD/JPY

USD/JPY trades higher than 122.54. The fact, that the pair is now located in the upward trend, shows a strong signal. In case of a further growth, a new perspective target near 123.77 will open. The tendency of the USD strengthening can affect the trading, if the Fed's representatives will inform about a future rise of the basic rate. It's not excluded, that traders will continue to wait for the FOMC protocol. On such expectations the American dollar could strengthen.

Binary Option Trading Tactic:

- a further rise will open a new target up to 123.77.

- if the price chart goes down, we recommend to sell from 122.54 and lower.

We recommend: TO BUY

 

GOLD

GOLD shows the multidirectional dynamic. The technical barrier near 1083.56 is a reliable support level. If that level is breached, we can expect a further decline down to 1073.89. The asset still continues to trade without any noticeable fall, as the American dollar is currently correcting.

It's important to note, that the USD trading dynamic can have an impact on gold's value. Therefore, because of the upcoming macroeconomic data for the USA, traders will be more interested in gold too.

Binary Option Trading Tactic:

- if gold increases in value, we recommend to buy up to 1102.09.

- in case of a further decline, we can expect a target at 1073.89.

We recommend: TO AWAIT

 

 

USD/CHF

USD/CHF trades higher than the support level at 0.99930. It's seen, that there are not a lot of purchases of the pair, as there's nothing concrete about the Fed's rate. If the price chart goes up, there will be a signal to buy from the resistance line at 1.00823. Otherwise we recommend to sell from 0.99930.

Binary Option Trading Tactic:

- in case of a new rise, we recommend to buy from 1.00823.

- in case of decline, we recommend to sell down to 0.98884.

We recommend: TO BUY

 

USD/RUB

USD/RUB is confidently located in the upward trend. The price chart is currently testing the new resistance level at 66.59. But if it's noticed, that the price chart has risen a lot (overbought), there could be a correction down to the support line at 65.11. It's important to point out, that the Russian ruble is weak because of the decrease of oil prices. This factor may play a decisive role on the RUB's value.

Binary Option Trading Tactic:

- in case of rise, the first target is 69.24.

- in case of decline or strengthening, we recommend to sell down to 65.11 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.