Daily Technical Forex Forecast 12.04.2018


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EUR/USD

The Euro rose up and broke out the previous resistance, but further price growth was stopped by the new volume level – 1.2390. This mark contains the large volume, but the pair did not show any significant reaction. Thus, we still should give preference to long positions.

volume euro

We can enter the market after a confident and keen breakout of the resistance level. The movement should be supported by the large volume, which will be a more secure signal for opening new deals. A stop loss should be located just under the breakout volume bar. The potential of the deal is 70-80 points.

buy euro

GBP/USD

The Pound didn’t demonstrate any significant move yesterday. Moreover, the volume on the market was small, so we cannot allocate any new level or zone. Anyway, considering that the price is still located a little bit below the resistance level of 1.4240, our previous scenario remains actual.

volume gbp

Long positions can be opened only after a sharp breakout of this level on the large volume, which will be an excellent bullish signal. A stop loss should be placed under the breakout volume bar. The potential of the deal is around 100 points.

buy gbp

USD/JPY

The Yen is locked in the local range of 106.67 – 107.48 at the moment. This consolidation contains large volume, so the best decision is just to wait for a sure exit of the price from it. Nevertheless, given that the pair is trading slightly above the support, and the general situation on the market indicates a weakening of the US dollar, we can regard a scenario of the breakdown of this mark.

The move must be sharp and upheld by the large volume, which will be a more reliable signal for entering the market. A stop loss should be located above the breakdown volume bar. The potential of the deal is 90-100 points.

sell jpy

USD/CAD

The downtrend with USD/CAD continued as the price showed a significant fall on the large volume yesterday, which is an excellent bearish signal. Unfortunately, the volume was evenly distributed throughout the chart, so we can not allocate any particular level or zone. Nevertheless, considering all factors, it is worth giving preference to short positions.
Sales can be opened after the stoppage of the local upward correction and a resumption of the sharp drop of the price. A stop loss is necessary to put a little higher than yesterday’s bearish momentum. The potential of the deal is more than 100 points.

sell cad tfxi

AUD/USD

The price is still located just below the resistance level/upper limit of the local consolidation of 0.7775, so our scenario remains the same. Purchases can be opened only after a sure and sharp breakdown of the resistance level on the large volume, which will be a more reliable signal for entering the market. A stop loss should be located beneath the breakout volume bar. The potential of the deal is more than 100 points.

buy aud

XAU/USD

Gold grew up strongly and broke out the previous level of resistance yesterday. The breakout movement was sharp and on the huge volume, which is a great bullish signal. Nevertheless, the further movement of the pair was stopped by the appearance of the large volume and a creation of the new resistance level of 1362.00 – 1363.30.

volume gold

Hence, we can open purchases only after the resumption of the price growth and a sure breakout of the resistance level on the large volume, which will insure us against a fake movement. A stop loss should be located just below the breakdown volume bar. The potential of the deal is more than 150 points.

buy gold

The sentiment: this indicator totally affirms (trading against the “crowd”) all our trading scenarios today, which is a great additional signal for active trading.

sentiment