The first week of October was ambiguous. Something grew, something fell, but one thing is clear: there is not a trend of development of the market. And even the fact that on Friday the quotations of EURUSD grew up to 1.3040 on closing due to the news from the US, it is too early to talk about the continuation of ascending trend, so do not rush to buy.
The euro situation is difficult. Current growth was predicted technically, but fundamentally euro should cost less, that is why the purchases from current levels will have higher risks. In our opinion it is the right time to go out of the long deals and not vice versa. However one should not be sure about the descent of quotations. That is why one should wait for signals for sale on Monday. Sales on EURUSD have high potential of profits.
Gold tried to break down the resistance level of 1790 last week, however several peeps were missing, in order to establish higher than the indicated level. That led to Friday descent of quotations of the data from the USA. This week the gold may continue its slow descent, however it is dangerous to trade with it, since this asset is an asset- asylum for the market, and if something happens the gold can go up at once. So do nor sell it yet, and even if you sell it only with short stop loss.
GBPUSD pair is still under correction to September growth and even the growth that took place on Thursday did not go beyond the descending channel. That is why the prognosis on this pair is certain: decrease of quotations along the channel. It is possible to sell from current levels, but the risk will be high.
Australian dollar which is actively lowering following the petroleum quotations, continued this tendency last week. However AUDUSD pair could not break down the support level of 1.0170. A little rest in the form of consolidation at this level might be helpful. That’s why active sales might be renewed only after updating local minimum.
We wish you good profitable week, dear colleagues-traders.Social button for Joomla