With the Euro, it is necessary to allocate a new resistance level 1.1620, in which the large volume is concentrated. The price adjusted downwards after the formation of this mark. Nevertheless, the decline was on the small volume, while the growth was sharp and on the large volume, so we can consider the scenario of a breakdown of the resistance. This will be an excellent bullish signal.
The breakdown movement must be swift and supported by the large volume, which will insure us against a false breakout and will be a more accurate signal for entering the market. A stop loss should be placed just below the breakout volume bar. The potential of the deal is about 120-130 points.
The Pound carried on rising yesterday. Besides it, we should point out the strong volume support level 1.2818. Hence, we should give advantage to long positions with this instrument.
We can enter the market after a small and smooth correction of the price down, in order to obtain a more advantageous entry point. A stop loss must be placed below the support level. The potential of the deal is more than 150 points.
The Yen is trading inside the local range between the support level 109.82 and the resistance level 111.94. Therefore, our previous scenario remains actual: we can consider new deals only after the confident exit of the pair from the consolidation. The breakout move must be abrupt and supported by the large volume, which will be a more secure and precise signal for entering the market.
The Canadian dollar demonstrated a keen sink on the increased volume yesterday and is trading near the support/lower boundary of the local consolidation 1.2980 now. It consents us to regard a scenario of a breakdown of this mark, which will be a great bearish signal. The breakout movement must be rapid and supported by the large volume, which will insure us against a fake breakdown and will be a more accurate 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 100 points.
The Australian dollar remained trading within the local consolidation between 2 strong levels. They are the support 0.7211 and the resistance 0.7439. Hence, our previous scenario is still actual: we can open new positions only after a sure exit of the price from the range. The breakout move must be supported by the large volume, which will be a more precise and secure signal for entering the market.
Nothing has changed with gold as the price is still located within the local consolidation between the support level 1165.60 and the resistance level 1215.70.
Considering this factor, the best decision is just to wait for a sure and abrupt exit of the pair from the range. This move must be supported by the large volume, which will insure us against a fake breakout and will be a more precise signal for entering the market.
The sentiment: this indicator totally affirms our trading scenarios with the Euro and the Canadian dollar, which is a nice additional signal. The situation with the Pound is 50/50, so we should wait for a strong confirmation signal. We can open new deals with other currency pairs only after the exit of prices from consolidations.