Weekly Technical Forex Forecast 27.11-01.12.2017


EUR/USD

The Euro continued its growth, the movement was sharp and on large volume, which is an excellent bullish signal. It is also worth highlighting the new volume support level 1.1906 – 1.1914, which was formed on Friday.
volume euro tfxi
Thus, at the moment it is worth considering exceptionally long positions for EUR/USD. Purchases should be opened after the breakout of the local maximum, in which a significant volume is also concentrated. A stop loss should be placed a little below the support level. The potential of the deal is more than 90 points.

buy euro tfxi

GBP/USD

The Pound finally broke out the resistance level/the upper limit of the global consolidation, with the move being sharp and on large volume, which is an excellent bullish signal for us. Also it is worth noting the new level of resistance 1.3354, which was formed on Friday. In this level, a fairly significant volume is concentrated + the price rebounded from this mark.
volume gbp tfxi
Therefore, we can open long positions after the breakout of this resistance on large volume, which will be a more accurate signal for entering the market. A stop loss should be placed just below the breakout volume bar. The price growth potential is about 200 points.
buy gbp tfxi

USD/JPY

After a sharp fall and breakdown of previous support, the price showed a smooth correction to the resistance level of 111.58 – 111.68, in which large volume is concentrated. In addition, it should be noted that the correction was on small volume, so short positions are still in priority for this currency pair.
volume jpy tfxi
Sales can be opened after a resumption of a priceĀ fall on increased/large volume, which will be a good signal for continuation of the local downtrend. A stop loss should be placed a little above the resistance level. The potential for a fall is more than 150 points.

sell jpy tfxi

USD/CAD

The Canadian dollar is still located in the local consolidation 1.2669 – 1.2821, in which fairly significant volume is concentrated, therefore, only after the breakdown of this range new positions can be opened for this currency pair.

The breakout movement must be sharp and on large volume, which will protect us from false breakdown, and will also be a stronger and more accurate signal for entering the market.
While the price is in the consolidation, it is better to stay out of the market.

volume cad tfxi
AUD/USD

AUD/USD situation remains the same: the price is in the local consolidation 0.7538 – 0.7649, in which a fairly significant volume is concentrated. Thus, new deals can be considered only after the price comes out of consolidation. Movement should be sharp and on increased volume.
While the price is still locked in the consolidation, it’s better to be out of the market.

volume aud tfxi
XAU/USD

Gold is still trading in the global consolidation, however, now the price is in a small local consolidation near the resistance level of 1292.50, so it is worth considering the scenario of breakout of this mark. This will be an excellent signal for opening long positions, especially since large volume is concentrated in this range.
volume gold tfxi
The breakout movement must be sharp and swift, ideally, if it is a large bullish impulse. In addition, the price growth should be on large volume, which will be a more accurate signal for entering the market. A stop loss should be placed under the breakout volume bar. The deal’s potential is more than 150 points.

buy gold tfxi
The sentiment: this indicator fully confirms all our scenarios. Only for USD/CAD and AUD/USD this indicator should not be used, as these currency pairs are in consolidations.

sentiment

The bottom line: there are a plenty of good scenarios in the market, so waiting for good and more accurate entry points and then consider opening new deals.

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