Shorts-and-longs by Alexander Kul

[alextrader79]

EUR/USD. The ECB meeting will take place today. Prior to the press conference, there will probably be no strong trend movements. I plan to wait for the Central Bank’s decision. I’ve identified the following key levels:
Support - 1.0840, 1.0775
Resistance – 1.0950
I will look at how the price reacts to them.

 

[alextrader79]

There were aggressive sales on NZD/USD during the last week. The technical pattern is ambiguous for me at the moment. I have identified the key trading range: 0.6850-0.6890.

A strong reversal formation has formed on the market. The divergence of the price and the MACD histogram. I don’t exclude a corrective movement. I’ll buy, if the price fixes above the 0.6890 mark. The immediate goal for fixing profits is 0.6920.

I also don’t rule out a further drop of NZD/USD. The data on the US GDP will be published today. It can pressure the dynamics of this pair. I’ll sell NZD/USD, if the price fixe below 0.6850. Potential movement - to the 0.6800 round level.

 

[alextrader79]

USD/CAD failed to overcome the 1.3525 support level yesterday. It has triggered aggressive purchases in the second half of the day. 1.3665 acts as a local resistance. I’ll look for the entry points into long positions, if the price fixes above this mark. Potential movement - to 1.3700.

 

[alextrader79]

The Canadian dollar continues to lose ground against the US dollar. A negative dynamics on the "black gold" market pressures it. I plan opening deals in the current trend direction. I’ll buy USD/CAD, if the price fixes above 1.3745. Potential movement - to the 1.3800 round level.

 

[alextrader79]

A positive statistics on the New Zealand labor market was published today. It caused aggressive purchases during the Asian session. The currency is testing the 0.6930 mirror level at the moment. I’ll buy NZD/USD, if the price fixes above 0.6950. The goal for taking profit is 0.6975-0.7000.

 

[alextrader79]

The Fed expectedly kept the interest rate at the same level yesterday. The latest statistics from the US was rather weak. Nevertheless, the regulator said that the economy is stable. The probability of increasing the rate in June has significantly risen. The FedWatch Tool is at the 73.8% level at the moment.

The technical pattern on GBP/USD indicates the development of a corrective movement. The price has overcome the 1.2860 local support. I’ll sell the pair after the retest of this mark. The target level is 1.2800. The decrease of the MACD histogram is a confirmation signal for me.

 

[alextrader79]

The report on the US labor market is in the focus today. The majority of experts think that the market will recover. I’d like to remind that the previous data on the number of employed in the non-agricultural sector of the country was very weak.
I won’t open deals today and these are the key levels for EUR/USD:
support - 1.0935, 1.0885
resistance -1.0985

 

[alextrader79]

The US Department of Labor released a positive report on Friday. At the same time, EUR/USD maintained the 1.0950 "mirror" support level. According to the preliminary data, Macron leads in the second round of the presidential elections in France, and it means a great support for the euro. I plan to look for entry points for opening long positions. I will buy this pair, if the price fixes above the 1.1020 local resistance level. Potential movement - to 1.1050-1.1075.

 

[alextrader79]

The New Zealand dollar has retained the 0.6850 key support level during the last week. It caused a correction. NZD/USD is testing the 0.6930 local resistance now. It seems to me that the correctional movement can continue. The latest report on the labor market of New Zealand was very positive. I plan to buy NZD/USD, if the price fixes above 0.6930. The immediate goal for fixing profits is 0.6965.

 

[alextrader79]

The euro reacted weakly to the Macron’s victory. Bearish sentiments dominate on EUR/USD at the moment. The demand for the US dollar is supported by an optimistic report on the labor market in the US. The currency has overcome the 1.0920 local support level. I’ll sell it after the retest of this mark. The goal for fixing profit is 1.0875. I’ll use a trailing stop for this position.