Daily Technical Forex Forecast 14.03.2018


TriumphFX-YouTube-Backround

EUR/USD

The Euro showed a strong and sharp increase of the price on the large volume yesterday, which is an excellent bullish signal. However, the pair is still trading within its local consolidation between the support of 1.2280 and the resistance of 1.2411 – 1.2426.

volume euro tfxi
Thus, long positions can be opened only after the breakdown of the upper boundary of the consolidation. Moreover, the breakout movement must be sharp and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss should be placed under the breakout volume bar. The potential of the deal is about 110-120 points.

buy euro tfxi

GBP/USD

The Pound grew up strongly and broke out the resistance yesterday. The move was abrupt and supported by the large volume, which is a great bullish signal. Unfortunately, the volume was evenly spread throughout the rise, so we can’t highlight ant concrete volume level. Nevertheless, given the strong growth, we should give advantage to purchases.

volume gbp

Long positions can be opened after a small and smooth correction of the pair down in order to obtain a better entry point. A stop loss should be placed at the beginning of the breakout movement. The potential of the deal is up to 200 points.

buy gbp

USD/JPY

Nothing has changed with the Yen as the price is still trading in the local consolidation of 105.43 – 107.83. Thus, our scenario remains the same – we can enter the market only after a confident and sharp exit of the price from this range. The breakout movement must be sharp and supported by the large volume, which will be a more accurate signal for opening new deals.

Until that, it is better to stay out of the market.

trade jpy

USD/CAD

The Canadian dollar rose sharply yesterday. At the moment the price is trading near the upper boundary of the consolidation/resistance level of 1.2994. Given that the growth was on the large volume, we can regard the scenario of a breakout of this mark, which will be a good signal for opening long positions.

The move should be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss should be located under the breakout volume bar. The potential of the deal is more than 100 points.

buy cad

AUD/USD

The pair is testing the resistance level of 0.7878 and at the moment. Thus, our previous scenario remains relevant: we can open long positions after a sure breakout of the resistance level on the large volume. It will be a stronger signal for entering the market. A stop loss should be placed under the breakout volume bar. The potential of the deal is 80-90 points.

buy aud

XAU/USD

After the test of the support level of 1313.50 – 1317.50, the price rose up rapidly and on the large volume. However, gold is still trading in the local range between the support and the resistance level of 1340.00.

Given that the large volume is concentrated in this consolidation, the best solution with this instrument is just to wait for a sure exit from the consolidation. The breakout should be abrupt and supported by the large volume, which will be a more reliable signal for entering the market.

While the price is within the range, it is better to stay out of the market.

volume gold

The sentiment: the mood of the market totally affirms all our trading scenarios today, which is a great additional confirming signal for us. Hence, EUR/USD, GBP/USD, USD/CAD and AUD/USD should be in focus today.

sentiment


Warning: count(): Parameter must be an array or an object that implements Countable in C:\WebApps\analysis.tfxi.com\wp-includes\class-wp-comment-query.php on line 405