Last week there was a deployment towards dollar of all currency pairs, which stopped the decrease in value.
This week it will be wise to trade “for dollar”, since it grows on all positions. For example EURUSD. The pair could not break down and renew local maximum on Wednesday, as many traders wanted. At the place of a breakdown it went down and is trading now lower than the secondary support of 1.3044, which became resistance. The opening of short positions may be realized immediately after market opening and the appearance of signals to trade: the rebound from the level of resistance 1.3044 or the renewal of minimum of last candlestick. The risk should be eliminated to 1.3050-1.3070.
Pound sterling is close to local minimum, which may support the island currency, especially because the pair actively descended for recent two days (Thursday-Friday). So despite the weakness of pound sterling traders’ purchases may appear at this level, those traders hoping for deployment. It makes sales with market openings less attractive, especially because GBPUSD pair is developing in the channel now, to the lower bond, with a small cruising range. Thus if there are open short positions, they should be held with instantaneous fixation of profits, with hints to rebound or quotations deployment, but it’s better to wait with opening of new ones, since the risk is too high.
The graph of AUDUSD pair became very attractive. There is a deployment model on the graph- “falling doji-star”, which is a strong signal for sales. That is why this pair may be sold from market opening. Stop loss should be put a little bit higher than Friday candlestick maximum, and trader’s aim should be 1.0200.
It seems like gold lost its shine, since it is falling faster than others. The fall will continue however it will be wrong to take measures earlier than the second half of trading Monday, open sales should stay the way they are.
A good profitable week to all! Be careful with your money- do not give it to the market.Social button for Joomla