Daily forecast for shorts and longs

[Alexfx79]

Finally, presidential elections in the US will take place today! The attention of investors and financial market participants is drawn to the event. Current polls indicate the victory of Hillary Clinton. I don’t expect publication of critical statistical data and adhere to conservative trade. So, I won’t open any transactions today. As for me, it’s better to wait for the election results.

 

[Alexfx79]

So… We can see Trump’s victory. The representative of the Republican Party got 276 votes against 218 that Clinton got. We should expect increased volatility in financial markets in the nearest future. Most likely that US dollar continues to lose ground against a basket currency basis. I plan to trade intraday with minimal risks.

I identified the following levels on EURUSD:
Support- 1.1065
Resistance 1.1140

I consider buying after the break and retest of 1.1140 resistance level. Potential movement - to 1.1275

 

[Alexfx79]

I identified the following levels on USDJPY:
Support - 102.00
Resistance - 103.35
I plan to sell in case of reaching the 103.35-103.70 zone. I’ll look for confirmations at the smaller timeframes. Potential movement - to 102.50.

 

[Alexfx79]

There is still uncertainty and high volatility on the markets due to Trump’s win. I’ll continue to trade intra-day with minimal risk from the key support and resistance levels by the end of this week .

I plan to buy GBPUSD after break and retest of the 1.2450 level. Stop loss can be set slightly below the signal formation. Potential movement - to 1.2480.

 

[Alexfx79]

I look for shorts on USDCAD today. I’ll open transactions after the break and fixing lower than current low (1.3385). Potential movement – to 1.3355.

 

[Alexfx79]

EURUSD is testing local resistance (1.0905) at the moment. I plan to open short in case of retention of the level and appearing of some additional signals at smaller timeframes. The transaction will be short-term and speculative. The potential for local support is 1.0870.

 

[Alexfx79]

A local resistance 1.2580 formed on the GBPUSD pair. I plan to buy after the break and retest of this level. I’m going to take profit by parts at 1.2600-1.2625 levels. Stop loss can be set slightly below the signal formation.

 

[Alexfx79]

The technical picture on the GBPUSD pair indicates a possible correction. Currency overcame the 1.2535 local support. I plan to open a conservative transaction today. If the price makes retest of a "mirror" resistance level of 1.2535, I will sell. Potential movement - to 1.2450.

 

[Alexfx79]

I think that the uptrend may continue on the USDCAD currency pair. I’ll buy after the break and retest of 1.3565 local resistance. Potential movement - to 1.3600. Stop loss should be set below the signal formation.

 

[Alexfx79]

I expect correction on the USDJPY pair. I’ll sell in case of the breakthrough and retest of the 107.75 local support level. There may be movement to the 106.90 level. Stop loss should be set slightly above the signal formation.