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Technical Analysis of trading opportunities with the opening of the Asian Stock Exchange May 13, 2019

With the opening of the Asian bourses we can confirm that the contribution of these bourses to the pair remains at its weakest, did not add a clear momentum to the husband, either by buying or selling and despite the lack of clear liquidity in the opening of the Asian stock exchanges, there is a clear weakness in pumping money on the deals without buying the husband Pumped in the other direction to sell the pair, which means Asian traders moving towards maintaining other holdings and the decline of the Chinese stock index and the Shanghai index may be a magnet for traders who decided to bet much risk to the possibility of the rise of Chinese indices

Technically, the pair is currently trading above the important averages of 50, 100 and 200, which means that the pair is able to retest the levels we previously set at 1.14, but we need to exceed the critical area of ​​1.1250 which is the area that the pair failed to overcome repeatedly due to the existence of long positions That region

On the attached chart we can find a move to the support level from 1.1120 to 1.1180 once again and the stability of trading levels above 1.1198 will remain the positive outlook of the pair and the possibility of targeting the areas of 1.1250, including 1.14 again
But buying from the current levels of those who have not entered into deals with us since last week may be a bit of a risk because it will be required to use the previous stop-loss areas that we identified during the last week trading is far away and move it to levels of entry so we prefer to those who could not buy the pair during Last week to start buying if there is a correction towards 1.1195 areas to repurchase

The target remains the same as 1.125 as the first target will be changed for the rest of the trades to exceed that area and move it directly to 1.1350 with a close stop loss on the levels of entry for new transactions for open trades since last week can move the stop loss and reserve part of the profit at 1.1180

During the early trading for the opening of Asia this week we can find clear indicators of the presence of the pair within areas suitable for buying and positive signals are clear to the pair, which kept trading above the areas of 1.29 to keep his chances to climb back towards 1.31 areas again
However, there is a clear lack of liquidity not only for this pair, but for many pairs, and this may have caused the currency to slow down with the Asian opening due to two factors: the strong speculators' monitoring of the Hong Kong, China and Japan indices within attractive areas to buy; US-Chinese trade war on the trading movement, while some prefer to maintain liquidity appropriate to strengthen its open positions

Technically, we have a clear breach of the 50-day averages. We also have a clear decline in the levels of cash injections in the pair's transactions, which contributed to the stability of trading at 1.29 levels, while there is a clear tendency to re-target the levels of 1.3040 in the short and medium term
So we prefer to enter into long positions on the pair from the current areas 1.3010 with a stop loss at 1.2900 and leave the target open now as we target mainly 1.31 levels over the medium term and for daily traders they can close positions at 1.3040 and do so without having to keep their deals longer

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