Sunday, February 24, 2019

Trading opportunities for February 25, 2019

During early trading on February 25, there were no major moves on currencies and metals but we found some opportunities for trading. We also found some of the opportunities we expect to trade during the day as follows

EURUSD waiting to complete the decline to buy again
The pair is currently trading above the 50-day average but we have a distinct negative direction from the RSI as well as the lack of momentum on the pair as indicated by the trend of the MACD developed while trading within the areas of resistance is currently important to push the pair to fall towards the main support levels It starts at 1.12762 and ends at 1.12305


So far we can not venture to enter into long positions on the pair during the early trading and technical conditions are not completed to enter into a sell on the pair so we prefer to remain neutral now and until the opening of London and New York to get a better picture of the orientation of the husband this week

Trading Recommendation
Stay neutral now
With pending purchase orders from the following levels
1.1276
1.12457
1.12305

With profit taking in three stages as follows
Take the first profit 1.14200
Take Second Profit 1.1500
Third profit taking


Gold VS EUR and pending sell orders during the week
Last week we saw a decline in gold against the euro from the 1187 peak which recorded towards the first support area 1167 and with the opening of the markets today we find a new attempt of gold against the euro to rise towards that summit again, but although the RSI is positive that we are trading areas of resistance Gold may push against the EUR to drop back into support areas beyond 1167 so we would prefer to have the right opportunity to open short positions and not buy now


Trading Recommendation
Stay neutral now and do not enter into gold buying deals against the Euro
With outstanding sale orders placed on the following levels
1187
1200
Profit areas in two stages
Make the first profit at 1150
Make a second profit at 1080

Buy EUR vs. CAD: Goals This Week

During the early trading, the pair started to show positive signs of the RSI from a clear 4-hour sell-off based on strong support at 1.47, trying to re-trade the highest 50-day averages



Trading Recommendation
Buy the pair from the current levels 1.4906
First profit taking
Second profit taking 1.5 million


Buy Dollar vs. Canadian: Goals are within the range possible
During the early trading, the pair started to show positive signs of the RSI from a clear 4-hour sell-off based on strong support at 1.3122, attempting to re-trade the highest 50-day averages


Trading Recommendation
Buy the pair from the current levels 1.3140
First profit taking
Second profit taking 1.32000
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