Shorts-and-longs by Alexander Kul

[alextrader79]

I expect a correction on GBP/USD. An optimistic statistics on the business activity in the services sector of Great Britain was published recently. The currency has retained the 1.3235 support level. I’ll open long positions, if the pair fixes above 1.3285. It may move to 1.3325-1.3350.

 

[alextrader79]

I expect a bearish sentiment on AUD/USD. It has retained the 0.7870 local support. The asset in consolidating now. I’ll open shorts, if the pair fixes below the 0.7850 local support. It may move to 0.7830-0.7820.
I also recommend paying attention to the preliminary report on the labor market from ADP and the index of business activity in the US non-manufacturing sector

 

[alextrader79]

Aggressive sales were observed on AUD/USD. It is caused by releasing a weak statistics on the Australian retail sales. I think that the pair has the potential for the further declining. I’ll wait a correction to 0.7840-0.7850 and sell AUD/USD after it reaches that zone. It may move to 0.7820-0.7800.

 

[alextrader79]

Buyers prevailed on USD/CHF yesterday. It’s consolidating at the moment. I expect the growth of the quotes. The preliminary statistics on the US labor market supports the demand for USD. I’ll buy the pair, if it fixes above the 0.9760 local support. It may move to 0.9785-0.9800. Anyway, I can’t exclude the flat movement either. Market participants wait for the report on the US labor market that will be published October 6th.

 

[alextrader79]

The report on the US labor market is at the center of attention today. Experts expect that in September, the increase of the number of employed people in the non-agricultural sector will slow down due to the consequences of Harvey and Irma hurricanes. At the same time, the preliminary statistics was quite optimistic. I expect a high volatility today, so I won’t trade but just watch the market. I identified the following key levels:
GBP/USD
support: 1.3060, 1.3000
resistance: 1.3125, 1.3225, 1.3350

 

[alextrader79]

The US published a mixed statistics on the labor market on Friday. The technical pattern on majors is ambiguous for me at the moment. I’ll open positions from the key levels.

The bullish sentiment may prevail on EUR/USD in the near future. A strong reversal formation was formed - the divergence of price and MACD. I’ll buy the pair, if it fixes above 1.1750. It may move to 1.1800-1.1825.

 

[alextrader79]

The situation on the Korean peninsula began to worsen again. The demand for safe assets may grow in future. A classical PA pattern, Bearish engulfing, appeared on USD/JPY near the 113.25 resistance level. I’ll open shorts, if the pair fixed below 112.45. It may move to 111.50.

 

[alextrader79]

Bears may prevail on USD/CAD. The MACD histogram indicated the power of sellers. The pair is testing the 1.2525 mirror support. I’ll sell it, if the price fixes below 1.2510. It may move to 1.2470-1.2450. I’ll use a trailing stop for this position.

 

[alextrader79]

Buyers prevailed on AUD/USD during the Asian trading session. The pair has the potential for the further growth. It’s consolidating in the 0.7775-0.7790 range now. I’ll buy the pair, if it fixes above 0.7790. It may move to 0.7820-0.7835.

 

[alextrader79]

The FOMC protocols publication is in the focus today. This report may indicate the time of the next increasing the Fed’s key interest rate. Previously, most officials supported another increase this year.

The bullish sentiment was prevailing on EUR/USD since the beginning of this week. I’ll buy the pair after it fixes above the 1.1840 resistance level. It may move 1.1875-1.1900.

If the FOMC protocols don’t confirm the statements of the Fed representatives, aggressive sales may prevail on EUR/USD.