Sunday, March 3, 2019

Trading opportunities on EUR and USD for March 4, 2019


Gold Analysis for March 4, 2019 ... Buy with Stop Loss
Gold is currently moving in line with the scenario we expected on March 1, as gold has already fallen towards the 1290 areas, creating a clear sell-off pattern influenced by profit taking before the close and some positive signs from the US
However, according to the scenario we have written, we have a clear probability that the last drop will be corrective and gold could test the 1313 and 1322 areas again this week. This is a positive sign that gold will target the 1400 areas that have long been missed

Technically, we are still trading below the 50 and 25-hour averages on the 4-hour chart but we also have a positive shift on the RSI as we trade within the main gold support areas so we recommend not selling from the current levels and we can start buying now

Trading Recommendation
Buy gold from current 1293 zones with stop loss at 1280
Take profit at 1322 and 1330
With a pending buy order of 1280 with a stop loss at 1250 and a profit gain at 1330

Note that volumes are appropriate for the size of the account we are trading on


EUR / USD targeting the 1.1420 areas .. safe buying zones
During last week's trading, the pair made clear gains, which make us look at the small declines it is currently undergoing as a corrective retracement before completing its major targets mentioned earlier, and we identified the areas at 1.15 as a start. In the early trading we notice that after minor declines we started in casual trading that does not indicate a clear direction For the husband

Technically, the pair is currently at the highest support level at 1.1314 while the RSI is neutral but we are trading above the 50-day average, which is a positive sign on the pair's ability to re-target the 1.1420 areas

Trading Recommendation
Buy the pair from current levels 1.1364 with a stop loss at 1.1293 and take a profit at 1.1420
Placing a pending order at 1.12940 with a stop at 1.1272 and a profit at 1.1420
Note that volumes are appropriate for the size of the account we are trading on

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