A-FX Daily Analysis 16.05.2019

Hello, Traders.

Today is Thursday and we have important news :


May 16, 13:30
USD
 Building Permits (MoM)
May 16, 13:30USD Building Permits Change
May 16, 13:30USD Initial Jobless Claims

We will look to trade with our Support and Resistance levels at EUR/USD and GBP/USD.

EUR/USD : Our important levels are:

  • Expect Bearish move from Resistance zone 1 – 1.12386
  • Expect Bullish move from Support zone 1 – 1.11650

GBP/USD – Our important levels are:

  • Expect Bearish move from Resistance zone 1 – 1.30084
  • Expect Bearish move from Resistance zone 2 – 1.30690
  • Expect Bearish move from Resistance zone 3 – 1.31040
  • Expect Bearish move from Resistance zone 3 – 1.29106
  • Expect Bullish move from Support zone 1 – 1.28420

Risk Associated with Forex Trading Off-exchange foreign currency trading on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 
The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with off-exchange foreign currency trading and seek advice from an independent financial advisor if you have any doubts.