Daily Technical Forex Forecast 26.04.2018


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EUR/USD

The Euro resumed falling and broke down the previous support level. We should highlight that the breakout movement was sharp and supported by the large volume, which is a strong bearish signal. Therefore, we must regard exceptionally short positions with this pair.

volume euro

We can enter the market after a slight correction of the price up and the resumption of a rapid drop, in order to obtain a more profitable entry point. A stop loss should be placed just above the breakdown volume bar. The potential of the deal is about 100 points.

sell euro

GBP/USD

After a slight upward correction, the Pound continued its decline and now the price is testing the local minimum/support level of 1.3920. Yesterday’s price fall was on the small volume, so we cannot allocate any new level. Nevertheless, given the recent sharp fall of the pair and the presence of the large volume accumulation at the top of the chart, which puts pressure on the price, we should give preference to sales with the Pound.

volume gbp TFXI
We can enter the market only after a confident and sharp breakdown of the level of support on the increased volume, which will be a more reliable signal for entering the market. A stop loss should be placed just above the breakdown volume bar. The potential of the deal is more than 120 points.

sell gbp tfxi

USD/JPY

The Yen continued growing and broke out the previous resistance level, which is a great bullish signal. Given this fact and the presence of the local uptrend, we should give advantage to purchases with this instrument. We can enter the market after a small price correction in order to get a more profitable entry point. A stop loss should be placed below the breakout volume bar. The potential of the deal is about 100 points.

buy jpy

USD/CAD

The Canadian dollar adjusted down yesterday, but we must point out that the fall was on the small volume. Given the strong local uptrend and the volume support level of 1.2819, we still need to give advantage to purchases. We can open long positions after the resumption of the price rise. A stop loss should be placed below the support level. The potential of the deal is 120 points.

buy cad

AUD/USD

The price continued falling, but then the move was stopped by the new volume support level of 0.7555. Nevertheless, given the absence of a significant reaction of the price on this mark and the presence of a strong downtrend, we still should give advantage to sales with AUD/USD. We can open short positions after the sure and abrupt breakdown of the new level of support. A stop loss should be located just overhead the breakdown bar. The potential of the deal is more than 100 points.

sell aud

XAU/USD

The price showed a strong drop and broke down the previous level of support, which is a good bearish signal. Nevertheless, the downward movement was stopped by the new support of 1319.30, in which the increased volume is concentrated.

volume gold

But given the local downtrend + absence of significant reaction on the new level + general market situation, we should consider only sales. Short positions can be opened after the sure breakdown of this mark on the large volume. A stop loss should be located just above the breakdown volume bar. The potential of the deal is 110-120 points.

sell gold

The sentiment: nothing has changed here as this indicator totally confirms all our deals (except gold), which is a great additional signal for us. As with gold, all technical factors tell us that we must give preference to short positions, so we should open sales after the breakdown of the support.

sentiment