Daily Technical Forex Forecast 16.01.2018


EUR/USD

The Euro continued growing, so the uptrend with this currency pair is going on. Also 2 support levels 1.2107 and 1.2015 – 1.2032 are still actual, so that we should consider exceptionally long positions with this instrument.

volume euro

Unfortunately, there is no good situation for entering the market right now as the price is too far away from the newest support, that’s why we should wait for a smooth downward correction of the price. A stop loss should be placed below the support 1.2107. A potential of the deal is more than 100 pips.

buy euro

GBP/USD

The price also grew up yesterday, so our previous scenario of opening long positions is still relevant. We need to point out the support level 1.3662 – 1.3690, which contain large volume, so it is a good place for a stop loss.

volume gbp

We can enter the market after a smooth correction of the price down on small volume in order to get an acceptable entry point. A stop loss should be placed below the level of support. A potential of the deal is more than 100 pips.

buy gbp

USD/JPY

The Yen corrected during the Asian session, but the price growth was smooth and on very small volume, so this movement does not play a big role. Moreover, there is a strong local downtrend with this currency pair. Thus, with USD/JPY it is worth giving preference to short positions.
Sales can be opened after the end of the upward correction of the price and the resumption of a sharp fall. A stop loss should be placed just above the level 111.70. The potential of the deal is about 140-150 points.

sell jpy tfxi

USD/CAD

The pair continued falling and now is located near the level of support/lower limit of the local consolidation 1.2366 – 1.2390. That’s why we can consider the scenario of the breakdown of this mark, which will allow us to regard short positions. We can enter the market after a strong and sharp breakdown of the level on large volume. A stop loss should be placed above the breakdown volume bar. A potential of the deal is more than 120 pips.

sell cad

AUD/USD

The Australian dollar showed a strong growth yesterday, so the uptrend with this instrument is going on, that’s why we should consider exceptionally long positions here. Besides it, we must point out the level of support 0.7848 – 0.7861.

We can enter the market after a smooth downward correction of the price in order to obtain an acceptable entry point. A stop loss should be placed below the support. A potential of the deal is more than 60 pips.

buy aud

XAU/USD

The price is trading in the little local consolidation near the yesterday’s maximum. Also we need to point our 2 strong volume support levels: 1320.00 – 1322.20 and 1325.60 – 1328.10 + there is a strong uptrend with gold. Given all these facts we should give preference to long positions.

volume gold

We can enter the market after a smooth correction of the price down which will give us a better entry point. A stop loss should be placed below the newest support level. A potential of the deal is more than 150 pips.

buy gold

The sentiment: this indicator totally confirms all our trade scenarios, which is a great additional signal for us.

sentiment

The bottom line: all our scenarios were executed, so our previous scenarios are actual, but it is necessary to wait for correction in order to get better entry points.