Trading tactics for 07.12 - 11.12

EUR/USD

The euro has significantly strengthened after the ECB has announced the interest rate decision. It is known, that the rate remained on the previous level, and the ECB is intended to adhere to the same economic-stimulus program. At the same time the ECB's decision showed the difference between two the world's largest central banks, since the Fed was planning to increase it. Nevertheless, the traders' reaction was in favor of the euro. The pair's price chart has strengthened higher than 1.08506. If the asset continues to strengthen, we can expect the 1.11144 – 1.08506 trading ranges.

Binary Option Trading Tactic:

- in case of further rise from the 1.08506 level, we recommend to buy up to 1.11144.

- in case of further decline, we recommend to sell from 1.08506.

We recommend: TO BUY

 

GBP/USD

The British pound trades similar to the euro. The price chart has reached the target of 1.51216, which doesn't exclude the breach of the trend line, and the signal to do that. It's also important to note, that the Labor data for the UK and the BoE's interest rate decision will be published on this week. If traders expect these releases, the trading activity could decline, and therefore the price chart might locate in the 1.51216 – 1.49917 trading ranges.

Binary Option Trading Tactic:

- if the price chart continues to rise, we recommend to buy from 1.51216.

- the further decrease will open a target down to 1.49917.

We recommend: TO AWAIT

 

AUD/USD

The pair trades in the upward trend. In case of further rise, we recommend to buy the asset up to 0.74302. The value is now affected by the import growth in Australia and the decision of the Reserve Bank of Australia to leave the interest rate on the same level. On this week the pair's price could be influenced by the NAB's index of business confidence. If the index shows a growing optimism in the business environment in Australia, the pair might further increase in value. If there's a signal to trade in an opposite direction, we can expect the price chart to locate near the support line at 0.72649.

Binary Option Trading Tactic:

- in case of further rise, we recommend to buy up to 0.74302.

- in case of new fall, we recommend to sell down to 0.72649.

We recommend: TO BUY

 

USD/JPY

USD/JPY trades higher than the important support level at 122.54. If the level is breached, a new target to fall down to the next support line near 121.69 will open. It's also important to point out, that the Japanese GDP report for the third quarter will be published on this week. In case of any positive data, the asset can strengthen and reach the support level at 121.69. If the GDP's results are worse than the forecast and the previous data, the price chart could reach the resistance level at 123.77.

Binary Option Trading Tactic:

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

- in case of decline, we can expect the value to locate at 121.69 and lower.

We recommend: TO AWAIT

 

USD/CHF

USD/CHF has strengthened in the trading ranges from the end of October. In the same time, the support level near 0.98884 prevented the pair to decrease further. Currently there's a perspective to strengthen in the 1.00823 – 0.98884 trading ranges. The value can be affected by the Libor interest rate, which will be announced by the Swiss National Bank on this week. At the same time, the Libor press conference will also be held. On such expectations the pair could rise up to the resistance level at 1.00823.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1.00823.

- in case of new fall, we recommend to sell down to 0.9799.

We recommend: TO BUY

 

USD/RUB

USD/RUB continues to follow the trend. A new perspective target near 69.24 might open. The WTI’s value attempted to consolidate below $41, but the news about possible reductions in oil production by OPEC helped the gold's value to strengthen. At the same time the Russian ruble is likely to trade in an opposite direction after reaching the week's maximum. If such tendency continues, the price chart can reach the support level near 66.59.

Binary Option Trading Tactic:

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

- in case of decline, we can expect 66.59 and 65.11 or lower.

We recommend: TO BUY

 

GOLD

GOLD's value was able to reach the support level at 1050.54 one more time. It's important to note, that Gold could be under pressure, as the Fed hasn't made its final decision in regards to the interest rate's increase. There might be the second phase of decline. It's also possible, that traders will expect the US inflation data, which will be released in the end of this week. It's known, that the Fed pays a special attention to the interest rate.

The alternative case will allow Gold to trade higher than the resistance level at 1066.80. If that occurs, the signal to buy up to the 1083.56 level will appear.

Binary Option Trading Tactic:

- in case of rise, we recommend to buy up to 1083.56.

- in case of further decrease, we can expect 1050.54.

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.