After the release of labor market data in the USA, EUR/USD tested the resistance level 1.2076, after which it remained trading just below this level. Also it is worth noting the huge accumulation of volume under the resistance, so the breakout of this mark will be an excellent signal for entering the market.
The breakout movement must be sharp and supported by large volume, which will be a more reliable and accurate signal for opening long positions. A stop loss should be placed under the breakout volume bar. The potential of the deal is more than 100 points.
With the Pound, it is necessary to note the support level 1.3498 – 1.3513, in which large volume is concentrated, so before its breakout it is worth giving preference to long positions.
Purchases can be opened after a small and smooth correction of the price down to get a more profitable entry point. A stop loss should be placed under the support level. The potential of the deal is 120-130 points.
The Yen continued its growth, but the price is still closed in the local consolidation 112.08 – 113.65, so the best scenario will be to wait for the price to come out of the consolidation. The breakout movement must be sharp and swift + on large volume, which will be a stronger and more reliable signal for entering the market.
While the price is located within the consolidation, it is better to stay out of the market.
The Canadian dollar fell sharply on a very large volume last Friday, which is an excellent signal for the continuation of the downtrend with this currency pair. It is also necessary to point out the new level of resistance 1.2366 – 1.2390, in which rather significant volume is concentrated. This mark stopped the move of the price down, but given the rapid fall, it is worth considering a breakdown of this level, which will be an excellent signal for opening of sales. A stop loss should be placed above the breakdown volume bar. The potential of the deal is more than 100 points.
With the Australian dollar, it is worth highlighting the support level 0.7826 – 0.7840, in which large volume is concentrated, that only strengthens its value. Therefore, before it breakdown, it is worth considering the scenario of opening long positions, especially since there is a strong uptrend with this instrument.
Purchases must be opened after the support test and the price rebound upward. A stop loss should be placed under this level. The potential of the deal is more than 50 points.
After the publication of the Payrolls, gold tested the support level 1313.50 – 1316.60 and it remained trading just above this mark. The test of the level was on large volume, which only strengthens its value, so before the breakdown of this mark it is worth giving preference to purchases.
Long positions should be opened after the support test and the resumption of a sharp rise in prices from it. Stop the loss should be placed below the level of 1313.50 with a small margin. The potential of the deal is more than 120 points.
The sentiment: all our 5 scenarios are confirmed by the mood of the market. With USD/JPY, long positions should be in priority, but it is worth waiting for the price to come out of the consolidation.
The bottom line: after the release of the Payrolls last Friday, the situation on the market remained the same.