Daily Technical Forex Forecast 14.06.2018


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EUR/USD

Yesterday, the Euro showed a rapid growth on the very large volume, which is an excellent bullish signal. Nevertheless, long positions can be opened only after the breakout of the resistance level/upper limit of the local consolidation 1.1835.

volume euro eng
The breakout movement must be sharp and supported by the large volume, which will insure us against a false breakout and will be a more accurate and reliable signal for opening new deals. A stop loss should be placed just below the breakout volume bar. The potential of the deal is more than 100 points.

buy euro eng

GBP/USD

Nothing has changed with this currency pair as the price is still located within the local range. The limits of this consolidation are the support 1.3221 and the resistance 1.3619. We also should note the presence of the large volume accumulation in this range.

volume gbp

Hence, the best solution with this instrument is just to wait for a confident exit of the price from the consolidation. The breakout movement must be abrupt and supported by the large volume, which will be a more precise signal for entering the market.

trade gbp

USD/JPY

After the creation of the new volume resistance level 110.83, the Yen demonstrated an abrupt sink on the increased volume yesterday. However, considering the presence of the strong uptrend, we still need to give a slight preference to long positions. We can enter the market after a confident breakout of the new level of resistance on the large volume. A stop loss should be located below the breakout volume bar. The potential of the deal is more than 100 points.

buy jpy

USD/CAD

The price tested the resistance level/upper limit of the local range 1.3030, but failed to break it out and then corrected downwards on the increased volume yesterday. However, the price is still located near this mark. Therefore, our previous scenario of opening long positions remains actual: we can open purchases only after a sharp breakout of the resistance on the large volume. A stop loss should be placed under the breakout volume bar. The potential of the deal is about 110-120 points.

buy cad

AUD/USD

The Australian dollar dropped down rapidly yesterday, but is still locked inside the local range between the support level 0.7492 and the resistance level 0.7675. The large volume is concentrated within this consolidation, that’s why the best decision with this pair is just to wait for a confident exit of the price from it. The breakout movement must be keen and supported by the large volume, which will insure us against a fake breakout and will be a more secure signal for entering the market.

trade aud

XAU/USD

The situation with gold remains the same as the price is still trading within the local range between 2 strong volume levels. They are the support 1290.40 and the resistance 1306.20.

volume gold

As can be seen from the chart above, the large volume accumulation is concentrated in this consolidation, hence we can regard new trading scenarios only after a sure and abrupt exit of the price from it. The breakout movement should be supported by the large volume, which will be a more precise signal for entering the market.

trade gold

The sentiment: our trading scenarios of opening purchases with USD/JPY and USD/CAD are affirmed by the mood of the market. The situation with EUR/USD is contrary, so we should be extremely careful. Nothing has changed with other instruments: we can regard new scenarios only after the confident exit of prices from consolidations.

sentiment