Daily Technical Forex Forecast 19.01.2018


EUR/USD

The Euro grew up, but the move was on small volume, so we can’t point out any new volume level. Moreover the price is located in the local consolidation at the moment. Also we should point out the presence of the large volume accumulation in this range, so the exit of the pair from it will be a good signal for entering the market. Given the presence of the strong uptrend, we should give preference to long positions.

volume euro

We can enter the market after a continuation of the trend and the breakout of the local maximum/upper limit of the consolidation. The breakout movement must be sharp and confident, so it will be a stronger signal for opening new deals. A stop loss should be placed below the breakout bar. A potential of the deal is more than 100 pips.

buy euro

GBP/USD

After a sharp price correction, the Pound resumed its growth and now the price is trading near the local maximum/resistance level 1.3934, in which increased volume is concentrated. Exactly after the formation of this level the pair began a rapid fall, so a breakout of this level will be an excellent bullish signal.
Moreover, there is a strong uptrend with GBP/USD, so we should give preference to long positions.

volume gbp tfxi
We cane enter the market after the price growth continues and the level of resistance breakdown on increased volume, which will be a more accurate and strong signal for opening purchases. A stop loss should be placed under the breakout volume bar. The potential of the deal is more than 100 points.

buy gbp tfxi

USD/JPY

The Yen resumed its fall, but the move was smooth and on average volume, so now it’s too risky to open short positions. But anyway, given the presence of the strong downtrend, we should consider exceptionally sales.

We can enter the market after the continuation of the fall and the sure breakdown of the local minimum. A stop loss should be placed above the breakdown bar. A potential of the deal is around 120 pips.

sell jpy

USD/CAD

The price fell down yesterday and is located near the support level 1.2366 – 1.2390, so we can regard the scenario of its breakdown which will allow us to open short positions. The movement must be sharp and supported by increased volume, that will be a more reliable signal for entering the market. A stop loss should be placed above the breakdown volume bar. A potential of the deal is around 120 pips.

sell cad

AUD/USD

As predicted, the uptrend with the Australian dollar continued and now the price is trading near the local maximum. The growth of the price was on increased volume, which is a good bullish signal. So we should give preference to long positions at the moment. We can enter the market after a sharp breakout of the maximum. A stop loss should be placed below the breakout bar. A potential of the deal is around 50-60 pips.

buy aud

XAU/USD

Gold tested the level of support 1325.60 – 1328.10 one more time, but failed to break it down. At the moment the price is located a little bit above this level. Also the previous support 1320.00 – 1322.20 is actual. That’s why our previous scenario of opening long positions is still relevant with gold.

volume gold

We can enter the market after a strong rebound of the price from the level of support. Perfectly, if the growth is supported by large volume, which will be a more reliable signal for opening new deals here. A stop loss should be placed below the support level. The target is 1344.00.

buy gold

The sentiment: all our trade scenarios are confirmed by this indicator which is a great additional signal for active trading.

sentiment

The bottom line: nothing has changed on the market so all our previous scenarios are still actual.