Daily Technical Forex Forecast 13.09.2018

EUR/USD

The Euro showed a significant rise on the increased volume. At the moment, the pair is testing the resistance level/upper limit of the local range 1.1628 – 1.1648. Therefore, we can consider a scenario of a breakout of this mark, which will allow us to open long positions.

This movement should be sharp, confident and supported by the large volume that will insure us against a false breakout and will be a more accurate and reliable signal for entering the market. A stop loss should be placed just below the breakout volume bar. The potential of the deal is about 80-90 points.

GBP/USD

The Pound resumed rising, tested the resistance level 1.3080 and is located a little bit below this mark at the moment. Hence, we can regard a scenario of the breakout of this level, which will be a strong signal for opening long positions.

The breakout movement should be sure and supported by a large volume, which will be a more secure and precise signal for entering the market. Stop loss must be located just below the breakout volume bar. The potential of the deal is about 120 points.

USD/JPY

The Yen went on trading slightly below the resistance level/upper boundary of the local consolidation 111.94. Therefore, our previous scenario remains actual: we can consuder long positions after a keen breakout of this mark on the large volume, which will be a more reliable signal. A stop loss should be located below the breakout volume bar. The potential of the deal is about 100-110 points.

USD/CAD

The Canadian dollar showed a strong drop on the large volume yesterday, so we can regard a scenario of opening sales with this currency pair, even despite the fact that the price is located within the consolidation. We can open short positions fter a small upward adjustment of the price, in order to obtain a more profitable entry point. A stop loss must be located slightly above the beginning of a swift fall. Our target is the level 1.2895.

AUD/USD

The Australian dollar demonstrated a sharp rise on the large volume yesterday. However, considerung a presence of the strong downtrend, we can’t open purchases yet. Besides it, the pair is trading inside the local range 0.7100 – 0.7230 now, so we can regard new positions only after the sure exit of the price from it. The breakout move must be supported by the large volume, which will be a more precise signal for entering the market.

XAU/USD

The same situaiton here as the price grew up strongly and on the large volume yesterday, but the price is still located inside the local consolidation between two strong volume levels. They are the support 1188.20 and the resistance 1215.70.

Therefore, we can regard new positions with gold only after a keen and sure exit of the pair from the local range. The breakout movement should be supported by the large volume, which will be a more precise and secure signal for entering the market.

The sentiment: this indicator totally confirms majority of our deals with all instruments, which is an excellent additional signal. With other currency pairs, we need to wait for a confident exit of prices from consolidations and only after that it is possible to open new deals.

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