Daily Technical Forex Forecast 03.04.2018


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EUR/USD

Our previous scenario with the Euro was fully executed: the price tested the resistance level of 1.2342 – 1.2357 and resumed its fall. Unfortunately, the downward movement of the pair was on the small volume, so we can not open sales from these prices. We need to wait for an additional strong signal.

volume euro tfxi
Such a signal is a smooth correction of the price upwards and the resumption of the fall on the large volume, which will be a more accurate and reliable signal for entering the market. A stop loss should be located a little above the resistance level. The potential of the deal is about 90-100 points.
If the price breaks down the resistance, it is better to stay out of the market.

sell euro tfxi

GBP/USD

The Pound didn’t demonstrate any significant movement yesterday and is trading in the local range of 1.4015 – 1.4084 at the moment. The large volume is concentrated in this consolidation, so the best decision is just to wait for the exit of the price from the range.

volume gbp

The breakout movement should be keen, swift and on the large volume, which will be a more accurate and secure signal for entering the market. Until that, while the pair is locked within the local consolidation, it is better to stay out of the market.

trade gbp

USD/JPY

The price continued falling and broke down the previous support level, which is a great bearish signal. Unfortunately, the drop was on the small volume, so we cannot enter the market at the moment.

Nevertheless, given all factors, we should give preference to sales. Short positions can be opened after the resumption of the price sink on the large volume, which will be a more accurate signal for entering the market. A stop loss should be located above the beginning of the fall of the pair. The potential of the deal is more than 100 pips.

sell jpy

USD/CAD

The Canadian dollar is also trading in the local consolidation of 1.2818 – 1.2960. Therefore, our previous scenario with this instrument remains actual: new positions can be opened only after a sure and abrupt exit of the price from the range. The breakout movement should be supported by the large volume, which will be a more reliable signal for entering the market.

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

trade cad

AUD/USD

The Australian dollar endured its fall, but the movement was on the small volume and smooth, that’s why we cannot open sales at the moment. Nevertheless, given the local downtrend, we still must give advantage to short positions.

Sales can be opened after the resumption of the dip of the pair on the large volume, which will be a more precise signal for the opening of new positions. A stop loss should be placed above the beginning of a sharp drop of the price. The potential of the deal is about 80-90 points.

sell aud

XAU/USD

The pair grew up strongly yesterday after the test of the support level yesterday. Unfortunately, the rise was on the medium volume, so we cannot point out any new volume level or zone. Moreover, the price is locked in the local consolidation between the support level of 1323.10 – 1324.40 and the resistance of 1355.70 at the moment.

voliume gold

Thus, the best decision with gold is just to wait for a confident exit of the price from the range on the large volume, which will be a good signal for entering the market. Only after that we can regard new trading scenarios.

While the pair is locked within the range, it’s better to stay out of the market.

trade gold

The sentiment: this indicator affirms our scenarios with USD/JPY and AUD/USD, which is a good confirmation signal. With other instruments, the sentiment is not quite actual, because they are located in consolidations, so we need to wait for the appearance of strong additional signals.

sentiment


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