We are at the end of the week at Friday's trading session and are looking at the FX performance. USD dollar is the complete champion of the week. New Zealand dollar rose by about 1.25% from Monday, while the pound is at the other end of the spectrum, declining by about 1.% over the week. Retail sales in the UK, trading in the Eurozone and US manufacturing are some of today's data.
EUR / USD
The European currency is consolidating in a narrow range under the mark 1.1300. Support is now in the range 1.1265, resistance, respectively, 1.1300. Taking into account Friday's trading, we can see some profit-taking and the return of quotes above 1.1300. if confirmed that will be a positive sign for the more solid corrective growth of the market next week.
Trading recommendations - longs in area of 1.1265
The pound shows weak pullback attempts, but the pressure in this market persists. The former support level 1.2840, which supported quotes for three days, turned out to be a strong resistance zone for the market. We can try to open shorts from this mark.
Trading recommendations - sales from 1.2830
An interesting pattern has emerged- double-bottom configuration has formed on the chart. We can see the breakdown of the local resistance around 1315 and the test of recent highs (1325) today. With the consolidation above 1315 we can add longs.
Trading recommendations - purchases
The dollar index marked annual highs in the area 97.10 and then entrenched above the support of 96.85. Today is a very important day, if sellers are unable to close the week below this mark, then we can confidently expect 2018 dollar highs update, which are in the 97.50 area.
Trading recommendations - out of market