Daily Technical Forex Forecast 14.09.2018


EUR/USD

The Euro demonstrated an abrupt rise on the large volume and broke out the previous resistance level, which is an excellent bullish signal. Given all these factors, we should give preference to long positions.

volume euro

We can enter the market after a small and smooth correction of the price down to get a more advantageous entry point. A stop loss should be placed just below the beginning of a sharp breakout movement. The potential of the deal is about 130 points.

buy euro

GBP/USD

As predicted earlier, the Pound continued its growth and broke out the previous resistance level yesterday. Moreover, the breakout movement was swift and supported by the large volume, which is an excellent bullish signal. Given all these factors, we should give preference to a scenario of opening purchases with this instrument.

volume gbp eng

Long positions can be opened after a small and smooth downward correction of the pair in order to obtain an acceptable entry point to the market. A stop loss should be placed just below the start of a sharp price increase. The potential of the deal is about 130-140 points.

buy gbp eng

USD/JPY

The Yen went on growing and is now testing the resistance level/upper limit of the local range 111.94. Thus, we can consider a scenario of a breakout of this mark, which will be an excellent bullish signal. The breakout movement must be sharp and supported by the large volume, which will be a more accurate signal for entering the market. A stop loss must be placed under the breakout volume bar. The potential of the deal is about 100-110 points.

buy jpy

USD/CAD

The Canadian dollar did not show significant movements yesterday, so our previous scenario remains relevant. Given the recent sharp decline on the large volume, we should give preference to sales. Short positions can be opened after a small correction of the price upwards to get a more advantageous entry point. A stop loss should be placed above the beginning of a sharp drop. The potential of the deal is about 130 points.

sell cad

AUD/USD

The Australian dollar tested the resistance level/upper limit of the local consolidation 0.7230, but failed break it out. The pair goes on trading within the local range between this mark and the support level 0.7100. Hence, we can open new positions only after the confident exit of the pair from the range. The breakout movement must be rapid and on the large volume, which will insure us against a false breakout and will be a more reliable signal for entering the market.

trade aud

XAU/USD

Nothing has changed with gold as the price carries on trading within the local consolidation between 2 strong levels. They are the support 1188.20 and the resistance 1215.70. Also we need to point out the presence of the large volume accumulation within this consolidation.

volume gold

Given all these factors, we can consider new trading scenarios only after a sharp and confident exit of the price from consolidation. The move should be supported by the large volume, which will be a more accurate and strong signal for entering the market.

trade gold

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

sentiment