Daily Technical Forex Forecast 06.09.2018


EUR/USD

Yesterday, the Euro rose sharply and is now testing the resistance level/upper limit of the local consolidation 1.1628 – 1.1648. Given that the movement was supported by the large volume, we can consider the scenario of a breakout of this mark, which will allow us to open long positions with this instrument.

volume euro eng

The breakout movement must be swift and confident + on the large volume, which will insure us against a fake 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 90 points.

buy euro eng

GBP/USD

The Pound demonstrated a sharp increase on the very large volume. It is also necessary to highlight the support level 1.2801, from which the rapid movement began, and the resistance level 1.2952 – 1.2970, in which the large volume is concentrated, which stopped the price growth.

volume gbp

Thus, the best solution with the Pound will be to wait for a sure breakout of one of these levels and the exit of the price from this local consolidation. The breakdown movement must be supported by the large volume, which will insure us against a false breakout.

trade gbp

USD/JPY

The situation with USD/JPY has not changed, the price is still trading near the resistance level/upper limit of the local range 111.94. Thus, our previous scenario remains relevant: we can open long positions only after a sure breakout of this mark. The movement should be sharp and supported by the large volume, which will be a more reliable and strong signal for entering the market. A stop loss should be placed just below the breakout volume bar. The potential of the deal is 100-110 points.

buy jpy

USD/CAD

USD/CAD resumed its growth and is now testing a new resistance level 1.3203. This gives us an opportunity to consider the scenario of a breakout of this mark, which will be an excellent bullish signal. The breakout movement must be confident and rapid, and also supported by the large volume, which will be a more accurate signal for opening purchases. A stop loss should be placed just below the breakout volume bar. The potential of the deal is more than about 100 points.

buy cad

AUD/USD

AUD/USD adjusted higher after the formation of a new support level 0.7155. Nevertheless, the price has already resumed the fall and is now trading near this mark, so we can consider the scenario of its breakdown, which will allow us to open short positions. The breakdown movement must be rapid and on the large volume, which will insure us against a false breakdown. A stop loss should be placed just above the breakdown volume bar. The potential of the deal is more than 100 points.

sell aud

XAU/USD

Gold adjusted up yesterday and is now inside the local range between 2 strong volume levels. They are support level 1190.00 and the resistance level 1215.70. The large volume is concentrated in this consolidation, so we can open new deals only after the confident exit of the price from it.

volume gold

The breakout movement must be sharp and swift, and also supported by the large volume, which will be a more accurate and reliable signal for entering the market + will insure us against a false breakout.

trade gold

The sentiment: this indicator fully confirms all of our deals, which is a good additional signal. As with the Pound and gold, we need to wait for the exit of prices from local consolidations and only afterwards it is possible to open new positions.

sentiment

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