Daily Technical Forex Forecast 25.01.2018


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EUR/USD

The Euro continued its growth, while the upward movement was supported by large volume. It is also necessary to allocate a new support level 1.2350 – 1.2365, in which large volume is concentrated.
Given all of the above factors, it is worth giving preference to long positions with EUR/USD.

volume euro tfxi
Purchases should be opened after a small and smooth price correction down to get a more accurate signal for entering the market. A stop loss should be placed under the new level of support. The potential of the deal is more than 100 points.

buy euro tfxi

GBP/USD

The Pound showed an abrupt growth on large volume yesterday, so we can consider the continuation of the uptrend with this instrument. Also we should point out the new support level 1.4170, where large volume is concentrated. So all factors tell us that we should give preference to long positions with GBP/USD.

volume gbp

We can enter the market after a smooth downward correction of the price on small volume. It is necessary it order to obtain an acceptable entry point. A stop loss should be placed below the support level with a little margin. A potential of the deal is more than 100 pips.

buy gbp

USD/JPY

The downtrend with the Yen is going on, so we should consider exceptionally short positions. Moreover, the new resistance was created, it is the level 109.52. So we can open sales after a smooth upward correction of the price in order to get a better entry point. A stop loss should be placed above the level of resistance. A potential of the deal is around 100 pips.

sell jpy

USD/CAD

As predicted, the Canadian dollar broke down the support level and continued its fall. Also we should point out the new resistance 1.2366, which has been already tested. So at the moment we should consider exceptionally short positions.

We can enter the market after a little upward correction of the price in order to get a more advantageous entry point. A stop loss should be placed above the resistance. A potential of the fall is more than 100 pips.

sell cad

AUD/USD

The uptrend with the Australian dollar is going on, so our previous scenario of opening long positions is still actual. Moreover, the sharp growth of the price was supported by quite large volume, which only strengthens our scenario.

We can open long positions after a smooth correction of the price down in order to obtain a better entry point. A stop loss should be placed below the level 0.8016. A potential of the deal is 70-80 pips.

buy aud

XAU/USD

Gold also showed an abrupt growth yesterday. The upward movement was supported by large volume, which is a great bullish signal. Also we should note the creation of the new volume support level, it is 1351.20. So all factors tell us that we should give preference to long positions.

volume gold

We should enter the market after a smooth downward correction of the price in order to get an acceptable entry point. A stop loss should be placed below the new level of support. A potential of the deal is more than 150 pips.

buy gold

The sentiment: the mood of the market confirms all our scenarios (trading against the “crowd”), which is a good additional signal for us.

sentiment

The bottom line: all trend continued, so now we need to wait for smooth correction to get acceptable prices for entering the market.