Daily Technical Forex Forecast 28.08.2018


EUR/USD

The Euro showed a rapid growth on the increased volume yesterday, which is a different bullish signal. Moreover, the pair broke out the previous resistance level/upper limit of the local range, which allows us to consider a scenario of opening long positions with this instrument.

volume euro eng

Purchases can be opened after a small and smooth correction of the price down on the small volume, which will allow us to get a more profitable entry point to the market. A stop loss should be placed just below the start of a sharp increase yesterday. The potential of the deal is about 110-120 points.

buy euro eng

GBP/USD

The Pound grew up yesterday, but the upward movement was on the small volume, so we can’t consider long positions at the moment. Besides it, we need to point out the volume resistance level 1.2923. Hence, purchases can be opened only after a confident breakout of this mark.

volume gbp

The breakout move should be rapid 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. A stop loss must be placed below the breakout volume bar. The potential of the deal is about 150 points.

buy gbp

USD/JPY

The Yen carries on trading inside the local consolidation between the support level 109.82 and the resistance level 111.94. Therefore, our previous scenario remains actual: we can regard new deals only after a keen and sure exit of the pair from the range. Moreover, the breakout movement 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.

trade jpy

USD/CAD

The Canadian dollar demonstrated an abrupt sink on the large volume and broke down the previous support level/the lower limit of the range, which is a strong bearish signal.

Short positoins can be opened after a small and smooth correction of the price upwards, in order to obtain a more profitable entry point. A stop loss must be located a little above the beginning of the breakout movement. The potential of the deal is about 110-120 points.

sell cad

AUD/USD

The situation with the Australian dollar remained the same: the pair is still located within the local range between the support 0.7211 and the resistance 0.7439. Hence, the best decision is just to wait for a sure and keen exit of the pair from the consolidation and only after that we can open new deals. The breakout movement must be supported by the large volume that will insure us from a fake breakout and will be a more secure signal for entering the market.

trade aud

XAU/USD

The price showed an abrupt growth on the large volume, but is still located a little below the resistance level 1215.70. Therefore, our previous scenario remains actual: we can open long positions only after the sharp breakout of this mark.

volume gold

The breakout movement must be sharp and supported by the large volume, which will insure us against a fake breakout and will be a more precise signal for entering the market. A stop loss must be located under the breakout volume bar. The potential of the deal is more than 150 points.

buy gold

The sentiment: this indicator confirms our scenarios with the Euro and the Canadian dollar, which is a good additional signal. It is necessary to wait for the appearance of confirmation signals with the Pound and gold, only after that we can enter the market. With other currency pairs, we can open new deals only after the exit of prices from consolidations.

sentiment