Currencies get a reprieve as the greenback gives back some

Murali Sarma Trade Guidance, LLC

The USD which has been on a tear lately, is appearing to give back some gains in overnight trading giving the basket of currencies it is usualy measured against some reprieve. Benchmark spot pairs measuired against the USD like the EUR/USD and AUD/USD gained in overnight trading after having slumped some into the end of the week, last week. At TradeGuidance we analyze a set of popular FxPairs alongside their underlying currencies which trade largely on the Chicago Mercantile Exchange. Those marked in green indicates the setups that went to profit targets from ideas posted in the prior session and also comprise active trades for us in which we have taken profits. Here are the ideas for today. Come visit us on our website and fill our a contact form and tell us what you like to trade in the currecy world. Better yet, just join us for a no-obligation to continue beyond the single month and explore the breadth of futures, currencies and stock trading ideas that we have to offer.

Pairs and underlying currencies trade ideas

Charts [EUR/USD]

Author

Murali Sarma

Trade Guidance, LLC

Murali Sarma is a private investor and trader, dealing in currencies, commodities (grains, energies, metals, bonds, indices) and stocks.

EUR/USD keeps the rangebound trade near 1.1850

EUR/USD is still under pressure, drifting back towards the 1.1850 area as Monday’s session draws to a close. The modest decline in spot comes as the US Dollar picks up a bit of support, while thin liquidity and muted volatility, thanks to the US market holiday, are exaggerating price swings and keeping trading conditions choppy.

GBP/USD flirts with daily lows near 1.3630

GBP/USD has quickly given back Friday’s solid gains, turning lower at the start of the week and drifting back towards the 1.3630 area. The focus now shifts squarely to Tuesday’s UK labour market report, which is likely to keep the quid firmly in the spotlight and could set the tone for Cable’s next move.

Gold battle around $5,000 continues

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It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.