Daily Technical Forex Forecast 16.02.2018


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EUR/USD

The Euro continued its growth and is currently testing the resistance level 1.2520. It should be noted that the price growth was sharp, but on the small volume, so our scenario of opening long positions remains relevant, but it is necessary to wait for an additional signal.

volume euro tfxi
Such a signal is a sharp breakout of this mark on the large volume, which will be a more accurate and strong signal for entering the market. A stop loss should be placed under the breakout volume bar. The potential of the deal is more than 100 points.

buy euro tfxi

GBP/USD

The price also grew up rapidly yesterday, but unfortunately, the volume on the market is still small, so we can’t highlight any new specific volume levels or zones at the moment. Anyway, given the strong upward movement we should give preference to long positions with the Pound.

volume gbp

We can enter the market after a resumption of the growth of the price on the large volume. Preferably, that the price corrects down before the beginning of the upward move. A stop loss should be placed below the start of the abrupt movement. A potential of the deal is more than 100 pips.

buy gbp

USD/JPY

The Yen continued falling, so we can state that the downtrend with this currency pair is going on. Thus, we still should give preference to short positions here.

We can open sales after a resumption of the fall of the price. The move must be sharp and supported by the large volume, which will be a stronger signal for entering the market. A stop loss should be placed above the beginning of the drop. A potential of the deal is more than 120 points.

sell jpy

USD/CAD

The Canadian dollar failed to break down the level of support 1.2488 yesterday, but now the price is testing this mark once again. That’s why our previous scenario remains the same: short positions can be opened after a strong and sharp breakdown of the support. The move must be supported by the large volume, so it will be a more accurate signal. A stop loss should be placed above the breakdown volume bar. A potential of the deal is 110-120 points.

sell cad

AUD/USD

The pair also tested the resistance 0.7943 – 0.7957, but could not break it out yesterday. Now the price is also growing up and testing this level, so we should consider the scenario of its breakout, which will be a great bullish signal.

The move must be sharp and supported by the large volume, that will be a more reliable signal for entering the market. A stop loss should be placed below the breakout volume bar. A potential of the deal is more than 80 points.

buy aud

XAU/USD

Gold tested the level of support 1346.10 – 1349.00, but failed to break it down and after that continued growing. Given the presence of the recent sharp growth on the large volume and the strong support, we should consider exceptionally positions with this instrument.

volume gold

We can open purchases after a smooth downward correction of the price in order to obtain a better and more profitable entry point. A stop loss must be placed below the support. A potential of the deal is more than 120 points.

buy gold

The sentiment: this indicator totally confirms all our scenarios (except USD/CAD), which is a great additional signal. So we need to wait for good entry point and open new deals with these instruments.

sentiment


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