Daily Technical Forex Forecast 19.09.2018


EUR/USD

The Euro tested the resistance level 1.1718, but failed to break it out and then rapidly corrected downwards on the increased volume. Now the pair is located inside the local consolidation between this mark and the support level 1.1533. Thus, we can regard new positions only after the exit of the price from the range.

volume euro

The breakout movement must be keen and sure, and also supported by the large volume that will insure us against a false breakout and will be a more accurate and strong signal for entering the market.

trade euro

GBP/USD

The Pound is now in a small consolidation just below the local maximum/resistance level 1.3165. Nevertheless, given the strong uptrend with this instrument, we should give preference to long positions.

volume gbp eng

Purchases can be opened after a confident and rapid breakdown of this mark. The breakdown 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. A stop loss should be placed just below the breakout volume bar. The potential of the deal is about 130-140 points.

buy gbp eng

USD/JPY

The Yen went on rising and broke out the previous resistance level yesterday, which is a great bullish signal. However, the movement was on the small volume, so we do not need to open purchases at the moment. Long positions can be opened after the resumption of the growth, but on the large volume, which will be a more reliable signal for entering the market. A stop loss must be placed under this movement. The potential of the deal is about 100 points.

buy jpy

USD/CAD

The Canadian dollar sank and broke down the previous support level, which is a good bearish signal. Unfortunately, the breadown was on the small volume, so we do not need to open sales now. Short positions can be opened after the resumption of the drop, but on the large volume, which will be a more accurate signal for entering the market. A stop loss should be placed a little above this movement. The potential of the deal is about 90-100 points.

sell cad

AUD/USD

The Australian dollar demonstrated a sharp rise and is now testing the resistance level/upper boundary of the local consolidation 0.7230. This gives us an opportunity to regrad the scenario of a breakout of this mark, which will be an excellent bullish signal. The breakout movement must be confident and swift, and also on the large volume. A stop loss should be placed under the breakout volume bar. The potential of the deal is more than 100 points.

buy aud

XAU/USD

Nothing has changed with gold as the price carries on trading inside the local consolidation between 2 strong levels. They are the support 1188.20 and the resistance 1215.70. The large volume is concentrated within this consolidation, so the best solution will be to wait for a sure exit of the price from it.

volume gold

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

trade gold

The sentiment: the mood of the market affirms our deals with USD/JPY and USD/CAD, which is a good additional signal. As with GBP/USD and AUD/USD, we should be extremely careful. With EUR/USD and XAU/USD, we need to wait for a sure exit of prices from ranges and only after that we can open new positions.

sentiment

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