After the ECB meeting, the Euro showed a sharp fall, which was supported by the huge volume, which is a strong bearish signal. In addition, it is necessary to point out the new level of resistance 1.1665 – 1.1680. The large volume is concentrated within this level. Thus, all factors indicate that we should consider short positions.
Sales should be opened after a small and smooth correction of the price upwards to get an acceptable entry point to the market. The growth should be on the small volume. A stop loss should be located a little above the new resistance. The potential of the deal is about 110-120 points.
The Pound also demonstrated a rapid drop of the price yesterday. The downward move was on the large volume. This is a good bearish signal, so now we should give preference to short positions. Nevertheless, sales can be opened only after a sure breakdown of the support level 1.3221.
The breakout movement must be abrupt and supported by the large volume, which will be a more precise signal for entering the market. A stop loss should be located a little overhead the breakdown volume bar. The potential of the deal is more than 150 points.
The Yen resumed its rise and is testing the resistance level 110.83 at the moment. Hence, our previous scenario is still actual: we can open long positions only after the keen and confident breakout of this mark. The movement must be supported by the large volume. A stop loss must be located below the breakout volume bar. The potential of the deal is more than 100 points.
The price grew up sharply and broke out the previous resistance level yesterday, which is an excellent bullish signal. Thus, we should regard exactly purchases at the moment. Long positions should be opened only after a smooth correction of the pair down, in order to obtain an acceptable entry point. A stop loss should be placed below the breakout bar. The potential of the deal is more than 120 points.
The Australian dollar showed a sharp fall and broke down the support level/the lower limit of the consolidation. This is a strong bearish signal. We can enter the market only after a smooth upward correction of the price, in order to get a more profitable entry point. A stop loss must be located just above the beginning of the abrupt sink of the pair. The potential of the deal is 80-90 points.
The price tested the resistance level, but failed to break it out and then it showed a sharp drop. We also need to adjust the resistance level, now it is 1308.60.
Therefore, gold is still located within the local range between the resistance and the support 1290.40. The best scenario is just to wait for a sure and rapid exit of the price from the consolidation. The breakout move must be supported by the large volume, which will be a more precise signal for entering the market.
The sentiment: the mood of the market totally affirms all our deals today, which is an excellent additional signal. It is necessary give a little preference to long positions with gold, but while the price is trading within the consolidation, we should stay out of the market.