Monday, August 20, 2018

Market analysis and trading opportunities for the week 20 August to 25 August 2018


During the last couple of weeks we have seen violent movements on currencies and metals in part because of the Turkish crisis, but there are moves that were not interpreted as simply
Despite the strength of the dollar against all currencies, we found the Japanese yen strong against the dollar and the pound sterling
Despite the turbulence of the markets, gold has fallen a lot, even against the eurotor who suffered a lot from the Turkish crisis, unreasonable moves
But countries such as Turkey, South Africa and India to get rid of gold holdings have justified part of it. Senior traders have removed gold holdings to buy stocks and US indexes from levels they thought were excellent, causing temporary price declines for gold.


Our expectations for the beginning of the decline of the dollar now see the dollar index as the currencies began to rise against the dollar at the end of trading last week and the beginning of trading this week

Our recommendations for this week follows

EUR JPY        BUY @ 126.26           SL 124.50       TP 126.85 & 129
EUR USD       BUY @ 1.14150         SL 1.1300       TP 1.14380 & 1.15
GBP JPY        BUY @ 140.88           SL 138.00       TP 141.20 & 143
GBP USD       BUY @ 1.2730           SL 1.2600       TP 1.2800 & 1.31
USD JPY        BUY @ 110.60           SL 109                        TP 110.74 & 111.20
USD CAD      BUY @ 1.3060           SL 1.29875     TP 1.30875

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