Daily Technical Forex Forecast 04.04.2018


EUR/USD

Our scenario with the Euro was executed, as the pair continued its decline yesterday. Moreover, the movement was on the large volume, which is a good bearish signal. Also, it is necessary to allocate a new volume support level 1.2257, which stopped the sharp drop of the price.

volume euro tfxi
Thus, sales can be opened after a confident and sharp breakdown of the level of support on the large volume. This will be an excellent signal for entering the market. A stop loss should be placed just above the breakdown volume bar. The potential of the deal is about 80-90 points.

sell euro tfxi

GBP/USD

The situation with GBP/USD has not changed, and the price is still trading in the local consolidation of 1.4015 – 1.4084. The large volume is concentrated in this range, so the best solution with the Pound will be to wait for a confident exit of the price from the consolidation.

The breakout movement must be sharp and supported by the large volume, which will be a more accurate and reliable signal for entering the market. While the pair is within the consolidation, it is better to stay out of the market.

volume gbp

USD/JPY

USD/JPY resumed its growth and broke out the resistance level. Despite the fact that the movement was sharp, we cannot consider long positions, since the volume was small. Moreover, the price is trading in the consolidation of 105.34 – 106.92 now.

Thus, we should wait for a confident and sharp exit of the price from the range on the large volume, which will be a more accurate signal for entering the market.

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

trade jpy

USD/CAD

USD/CAD showed a significant drop and broke down the previous support level, which is an excellent bearish signal. Moreover, the breakout movement was supported by the large volume, which only strengthens its importance. Thus, now it is worth giving preference to sales.

Short positions can be opened after a small correction of the price upwards to get a more advantageous entry point. A stop loss should be placed a little above the beginning of a sharp fall. The potential of the deal is more than 100 points.

sell cad

AUD/USD

AUD/USD adjusted upwards, but the price movement was smooth and on the small volume, so it does not matter much. Moreover, the pair is trading in the local consolidation of 0.7650 – 0.7775, so the best

AUD/USD adjusted upwards, but the price movement was smooth and on the small volume, so it does not matter much. Moreover, the pair is trading in the local consolidation of 0.7650 – 0.7775, so the best solution will be to wait for a confident and sharp exit of the price out of the range. The breakout movement should be supported by the large volume, which will be a more accurate signal for entering the market.

solution will be to wait for a confident and sharp exit of the price out of the range. The breakout movement should be supported by the large volume, which will be a more accurate signal for entering the market.

trade aud

XAU/USD

Gold fell sharply yesterday, however, the price is still trading inside the local consolidation between two volume levels: the support of 1323.10 – 1324.40 and the resistance of 1355.70.

volume gold

Thus, our previous scenario remains relevant: new positions can be opened only after a sure and sharp breakdown of one of the volume levels on the large volume. This will be an excellent signal for entering the market.

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

The sentiment: the mood of the market affirms our scenario with AUD/USD which is an excellent additional signal. With the Euro the situation is 50/50, so we need to wait for the pair to exit the range. With the Pound and gold, we should give preference to purchases, while with the Yen and the Australian dollar – sales. Nevertheless, these instruments can only be traded after exits of prices from consolidations.

sentiment