Daily Technical Forex Forecast 12.09.2018


EUR/USD

Yesterday, the Euro tested the resistance level/upper limit of the local range 1.1628 – 1.1648, after which the pair fell swiftly down. At the moment, the price is trading in the middle of the local consolidation between this mark and the support level 1.1533. It is also necessary to highlight the presence of the large volume accumulation in this range.

volume euro eng

Given these factors, we can consider new trading scenarios only after a sharp and sure breakout of one of the levels and the exit of the price from the consolidation. The breakout movement should be supported by the large volume, which will insure us against a false breakout and will be a more reliable signal for entering the market.
While the pair is within the range, it is better to stay out of the market.

trade euro eng

GBP/USD

The Pound dropped down sharply after the creation of the new volume resistance 1.3080. At the moment the pair is trading inside the local consolidation between this mark and the support level 1.2801.

volume gbp

Considering this factor, we can regard new trading scenarios only after a swift and sure exit of the price from the consolidation. The breakout move must be supported by the large volume, which will be a more secure and precise signal for entering the market.

trade gbp

USD/JPY

The Yen resumed its rise and is now located a little bit below the resistance level 111.94, so we can deliberate a scenario of the breakout of this mark, which will be a strong bullish signal. The breakout movement should be sure and supported by the large volume, which will insure us against a fake breakout. A stop loss should be placed just under the breakout volume bar. The potential of the deal is about 100-110 points.

buy jpy

USD/CAD

The Canadian dollar demonstrated a strong sink on the increased volume after the test of the resistance level 1.3203. At the moment the pair is located within the local consolidation between this mark and the support level 1.2895. Hence, we can open new positions only after a sure exit of the price from the local consolidation on the large volume, which will be a more precise and strong signal for entering the market.

trade cad

AUD/USD

The Australian dollar is located in the small local range near the local minimum. Considering the recent abrupt fall on the large volume, we still should give advantage to short positions. We can enter the market after the resumption of the drop and a confident breakdown of the local minimum. A stop loss must be placed just above the breakdown bar. The potential of the deal is more than 100 points.

sell aud

XAU/USD

The price grew up after the creation of the new volume support level 1188.20. However, the pair has already resumed falling and is located near this mark at the moment, which consents us to regard a scenario of a breakdown of this level, which will be a great signal for opening short positions.

volume gold eng

The breakdown move should be keen and supported by the large volume, which will insure us against a fake breakdown and will be a more precise signal for entering the market. A stop loss must be located just above the breakdown volume bar. The potential of the deal is more than 150 points.

sell gold

The sentiment: the move of the market totally affirms our deals with all currency pairs, which is an excellent additional signal. With all other currency pairs, it is necessary to wait for a sure exit of prices from ranges and only after that we can consider new positions.

sentiment