Trading tactics for 23.11 - 27.11

EUR/USD

EUR/USD continues to trade higher than 1.06817. A certain trend has formed, when the price chart can go sideways or indefinitely. The reason why such movements occur was the absence of the USD strengthening signals. From another hand the economic growth in the USA could cause a further strengthening of the American dollar. That’s why if the USD nonetheless continues to strengthen, a signal to buy the pair below 1.06817 will appear.

Binary options trading tactic:

- if the 1.06817 level is breached, we recommend to sell down to 1.05681.

- in case of correction against the downtrend, we recommend to buy up to 1.08506.

We recommend: TO AWAIT

 

GBP/USD

GBP/USD has confidently strengthened in the 1.53308 – 1.52194 trading ranges. Trading is affected by the possibility, that the pair will overcome the correction from the beginning of this month. It's also important to note, that the British GDP report for the third quarter will be published on this week. Such release is important, as it can strongly influence the British pound. Therefore if a possible decline because of some negative expectations appears, the important support level near 1.52194 can be tested.

Binary Option Trading Tactic:

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

- in case of decline, the target up to 1.52194 will form.

We recommend: TO SELL

 

AUD/USD

The asset trades opposite the trend. The first support level is 0.71472. If the pair's value continues to grow further from that level, the price chart can reach the resistance level near 0.72649. It's important to note, that the trading dynamic can be affected by the speech of G.Stevens, the Governor of the Reserve Bank of Australia. Such performance can immediately have impact on the current correction. A decline in economic growth in Australia can cause a further fall of the pair.

Binary Option Trading Tactic:

- in case of further rise, we recommend to buy up to 0.72649.

- in case of a new decrease, we recommend to sell down to 0.71472 and 0.70450.

We recommend: TO BUY

 

USD/JPY

USD/JPY has formed a sideways movement. It's seen, that the price chart is located higher than the support level at 122.54. A sharp move up to the resistance level at 123.77 is possible. The pair is also getting weaker, as the American dollar continues to strengthen. The price chart is located in the upward trend. A possible fall of the US dollar, which can be caused by the FOMC report publication, can lead to further active sales.

In the end of the month traders expect the release of the macroeconomic data for Japan. This Friday the Consumer Price Index report and the Unemployment data for October will be published. Because of such data, the pair can show some trading activity.

Binary Option Trading Tactic:

- in case of rise, the target up to 123.77 will open.

- if the price chart goes down, we can expect trading down to 121.69 and lower.

We recommend: TO AWAIT

 

USD/CHF

USD/CHF trades near the resistance level at 1.01982. There are some signals of a possible opposite move, as the asset is experiencing more sales activity, than purchases. The current location of the price chart is logical, since the US dollar is correcting against the quite long strengthening. The pair can still strengthen down to the support level at 1.00823.

Binary Option Trading Tactic:

- in case of a new rise, we recommend to buy from 1.01982.

- in case of decline, we recommend to sell down to 1.00823 and 0.99920.

We recommend: TO BUY

 

USD/RUB

USD/RUB trades confidently in the upward trend. The important level is located near 65.11. If that level is breached, a new target up to the resistance level at 66.59 will open. The pair's value is affected by the growth in oil prices and the common tendency of the US dollar strengthening. Besides, there are some expectations among traders, that the Fed will increase the interest rates in this year. That negatively affects the value of Russian ruble.

Binary Option Trading Tactic:

- in case of rise, the first target is 66.59.

- in case of fall, we can expect 64.14 and 62.59.

We recommend: TO BUY

 

GOLD

GOLD after some trading activity near the resistance level at 1083.56, is intended to decrease down to the support line at 1064.11. A further focus on sales is seen, as the price chart doesn’t show any strong signals to go out of the downtrend. The value of gold is influenced by the common trend of the US dollar strengthening. That's why the more the US dollar strengthens, the more gold will decrease in value.

It's important to point out, that trading will be affected by the release of the US Preliminary GDP report for the third quarter. Such data can significantly affect the asset.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1102.09.

- in case of further decrease, we can expect 1064.11.

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.