Daily Technical Forex Forecast 20.06.2018


TriumphFX-YouTube-Backround

EUR/USD

The Euro showed a sharp sink on the large volume yesterday, which is an excellent bearish signal. Therefore, we should give advantage to short positions with this currency pair.

volume euro

We can enter the market and open short positions after the continuation of the price fall and the breakdown of the local minimum. A stop loss should be located just overhead the breakdown bar. The potential of the deal is more than 100 points.

sell euro

GBP/USD

Yesterday, the Pound showed a significant decline on the increased volume and confidently broke down the previous support level/the lower limit of the local consolidation, which is a strong bearish signal. Thus, short positions should be in priority with this instrument.

volume gbp eng
Nevertheless, sales can be opened only after a smooth and small correction of the price upwards to obtain an acceptable entry point to the market. A stop loss should be located slightly higher than yesterday’s breakdown bar. The potential of the deal is more than 150 points.

sell gbp eng

USD/JPY

The Yen adjusted downwards yesterday and is located in the local range between the support 109.32 and the resistance 110.83 at the moment. Hence, the best decision with this pair is just to wait for a sure and rapid exit of the price from the consolidation. The move should be supported by the large volume, which will be a more precise signal for entering the market.

While the price is within the range, it is better to stay out of the market.

trade jpy

USD/CAD

The pair went on its upward movement, but the rise was smooth and on the average volume, so we can’t point out any new volume level or zone. However, considering the presence of the strong uptrend, we still should give advantage to long positions.

We can enter the market after the continuation of the price growth, but it should be supported by the large volume, which will be a more secure signal for entering the market. A stop loss should be placed below this movement. The potential of the deal is more than 120 points.

buy cad

AUD/USD

We need to highlight the new level of support 0.7360 with the Australian dollar. The price corrected upwards after its creation. However, considering the strong downtrend, we should give advantage to short positions. We can enter in the market after the resumption of the drop and a abrupt breakdown of the support level on the large volume, which will be a more precise  signal for entering the market. A stop loss should be located just above the breakdown volume bar. The potential of the deal is about 80 points.

sell aud

XAU/USD

The price demonstrated a significant fall yesterday, which is a good bearish signal. We also need to point out the new level of support 1272.3, which contains large volume. Therefore, short positions can be opened only after a confident breakdown of this mark.

volume gold

The breakdown movement must be keen and supported by the large volume, which will be a more precise and secure 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 150 points.

sell gold

The sentiment: all our trading scenarios are confirmed by the mood of the market, which is an excellent additional signal. We should give advantage to long positions with USD/JPY, but while the price is located in the range, it is better to be out of the market.

sentiment


Warning: count(): Parameter must be an array or an object that implements Countable in C:\WebApps\analysis.tfxi.com\wp-includes\class-wp-comment-query.php on line 405