The Euro showed an abrupt fall and broke down the previous support level on the large volume, which is a good bearish signal. Therefore, we should consider exceptionally short positions with this instrument at the moment.
We can enter the market after a small upward correction of the price in order to obtain a more profitable entry point. A stop loss should be located a little bit above the beginning of a keen volume drop. The potential of the deal is around 100 points.
The Pound also demonstrated a significant decrease yesterday. Unfortunately, the volume during the move was average, so we cannot point out any new level or zone. Nevertheless, given the abrupt drop of the price and the presence of the large volume accumulation at the top of the chart, that pushes the pair down, we should regard only short positions with this instrument.
We can enter the market a small and smooth correction of the price up, in order to obtain a more profitable entry point. A stop loss should be placed above the beginning of a rapid fall of the pair. The potential of the deal is more than 150 points.
The Yen broke out the previous level of resistance and continued its abrupt rise on the large volume. We should also point out the new support level of 108.36 – 108.48, in which the large volume is concentrated. Hence, all factors point that we should regard only long positions with this pair.
Purchases can be opened after a small price correction down. A stop loss should be located a little bit below the support level. The potential of the deal is 100-110 points.
The Canadian dollar also grew up strongly yesterday. We should note the creation of the new level of support 1.2819, in which the large volume is concentrated. Therefore, it is worth giving preference to the scenario of opening long positions with this instrument at the moment.
We can enter the market after a small correction of the price down, in order to obtain a better entry point. A stop loss should be placed below the beginning of a sharp rise of the price. The potential of the deal is around 120 points.
AUD/USD totally executed our yesterday’s scenario: sank sharply and broke down the support level, which is a great bearish signal. The drop was supported by the large volume and the new resistance level of 0.7616-0.7624 was created.
Considering all the factors above, we should regard exceptionally sales at the moment. Short positions can be opened after a smooth correction of the price up. A stop loss should be located a little bit overhead the beginning of the sharp volume decline. The potential of the deal is more than 100 points.
The price continued its fall and broke down the previous local level of support. Moreover, it should be noted that the decrease of the pair was supported by the large volume, which only strengthens its importance. Nevertheless, now the price is testing the global support level/the bottom limit of the consolidation, therefore short positions can be opened only after a sure breakdown of this mark.
The breakdown movement must be rapid and sharp, and also supported by the large volume. This will be a more accurate and reliable signal for entering the market. A stop loss should be placed just above the breakdown volume bar. The potential of the deal is about 130-140 points.
The sentiment: this indicator totally affirms all our deals today, which is a great additional confirming signal. The only exception is gold, but given all technical factors and general market situation, our scenario looks more probable.