Fecha Actual:May 19, 2024

Price action trading OCT 1st

EURUSD remained below 1.06 in its closing session although the potential annual lows remain above 1.0550. The bet is still latent that the European numbers will improve this Monday. Production data will be presented tomorrow at the European opening. We will be attentive to good forecasts. The preference is buying over 1.0550. If the production data disappoints the market then we will have sellers again. Buys can be scalped on 1.06 to 1.0630 while from 1.0550 sells are the preference until 1.0530 and 1.05.

GBPUSD remains off lows. The preference is to buy over 1.22 although we need to see the European opening on Monday. It is preferable to wait for 1.2230 before buying again up to 1.2250 and 1.2280. Selling is preferable from 1.2170 to 1.2150. Below 1.2150 the market returns to the low base and changes the preference to sell.

USDCAD changed market zones during the week. The preference is buying but it is preferable to wait for the market to break out of the highs. Above 1.3580 it is likely to get 1.36 again. However, we have employment data for the week. The dollar may be projecting discounted information. Sales are considered convenient from 1.3550 to 1.35. I would rule out purchases in the range of 1.3590 and 1.36. It is preferable to wait for a clear direction of this crossover at the market opening.

XAUUSD made new lows on Friday’s close. The preference is seller from 1,845 to 1,835. At the moment we are ruling out purchase strategies although during the week we will reevaluate commodities in the event of a possible outflow of capital from the dollar.

USDJPY  buying preference over 149.0. We could see market profit taking in the dollar below 149.30 down until 149.0 and then could evaluate new buyers.

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