Daily Technical Forex Forecast 16.08.2018


EUR/USD

The Euro corrected up after the creation of the new volume support level 1.1303. At the moment the pair is within the local consolidation between this mark and the resistance 1.1429. However, given the recent abrupt fall on the large volume, we still need to give advantage to short positions.

volume euro

We can enter the market after the resumption of a rapid drop and a confident breakdown of the level of support. The movement must be supported by the large volume. A stop loss should be placed just above the breakdown volume bar. The potential of the deal is more than 100 points.

sell euro

GBP/USD

The Pound also corrected upwards, but the growth was smooth and on the small volume. Given the presence of a strong downtrend, we still should give advantage to short positions.

volume gbp

We can enter the market after the resumption of a keen fall on the large volume, which will be a more secure and precise signal for entering the market. A stop loss should be slightly above the beginning of this movement. The potential of the deal is more than 120 points.

sell gbp

USD/JPY

Nothing has changed with the Yen as the pair is located inside the local consolidation between 2 strong levels. They are the support 110.17 and the resistance 111.94. Hence, we can regard new deals only after the sure exit of the price from the range. The breakdown movement should be sharp and supported by the large volume that will insure us against a fake breakout and will be a more precise signal for entering the market.

trade jpy

USD/CAD

The Canadian dollar demonstrated an abrupt rise on the large volume and tested the resistance level/upper limit of the local range 1.3165. The pair failed to break this mark, but it remained trading near it, so we can regard a scenario of a breakout of the resistance, which will be a great bullish signal.

The breakout move must be keen and on the large volume, which will insure us against a fake breakout. A stop loss should be located under the breakout volume bar. The potential of the deal is more than 100 points.

buy cad

AUD/USD

The Australiadn dollar corrected up after the creation of the new volume support level 0.7211. However, given the recent abrupt sink on the large volume, we still need to give advantage to sales. We can enter the market after the stoppage of the correction, the resumption of the fall and a keen breakdown of the support level on the large volume, which will be a good bearish signal. A stop loss must be located overhead the breakdown volume bar. The potential of the deal is more than 80 points.

sell aud

XAU/USD

The price demonstrated an abrupt fall on the large volume yesterday. We also need to point out the new volume resistance level 1180.40 – 1183.20. Considering all these factors, we should regard exceptionally short positions.

voume gold eng

We can enter the market after a small and smooth correction of the price upwards to obtain a more profitable entry point. A stop loss should be located just above the resistance level. The potential of the deal is more than 150 points.

sell gold eng

The sentiment: the mood of the market affirms all trading scenarios, which is an excellent additional signal for us. As with the Yen, we should wait for a sharp exit of the price from the range and only after that we can open new positions.

sentiment