Daily Technical Forex Forecast 21.09.2018


EUR/USD

The Euro showed a rapid and significant growth on the large volume and broke out the previous resistance level, which is an excellent bullish signal. The volume was evenly distributed throughout the movement, so we cannot point out any specific level. Nevertheless, we should open exceptionally long positions with this instrument.

volume euro eng

We can enter the market after a small and smooth correction of the price down to get a more profitable entry point to the market. The movement should be on the small volume. A stop loss should be placed under the start of a sharp price increase yesterday. The potential of the deal is about 120 points.

buy euro eng

GBP/USD

The Pound demonstrated a sharp rise on the large volume yesterday. At the moment the pair is located near the new resistance level 1.3286. Hence, we can consider long positions after a keen breakout of this mark.

volume gbp

The breakout movement should be rapid and supported by the large volume, which will be a more precise and strong signal for entering the market. A stop loss must be placed just below the breakout volume bar. The potential of the deal is about 140 points.

buy gbp

USD/JPY

The Yen carried on rising on the increased volume. We also need to point out the new level of support 112.12. Given these factors, we must give advantage to a scenario of opening long positions. We can enter the market after a small and smooth correction of the price down, in order to obtain a more profitable entry point. A stop loss should be placed a little below the support level. The potential of the deal is about 80 points.

buy jpy

USD/CAD

The Canadian dollar is still testing the support level 1.2895. Therefore, our previous scenario remains actual: we can open sales after a confident and swift breakdown of this mark. The breakdown movement must be supported by the large volume, which will insure us against a fake breakdown. A stop loss must be located just above the breakdown volume bar. The potential of the deal is more than 120 points.

sell cad

AUD/USD

The Australian dollar went on growing yesterday. We also should point out the new level of support 0.7246. Therefore, we should give preference to purchases. We can open long positions after a small downward adjustment, in order to obtain a more profitable entry point. A stop loss should be located under the support level. The potential of the deal is more than 100 points.

buy aud

XAU/USD

Nothing has changed with gold as the price is still located inside the local consolidation between the support level 1188.20 and the resistance level 1215.70. We also should highlight the presence of the large volume accumulation within this local range.

volume gold

Hence, we can regard new positions only after a confident exit of the price from the consolidation. The breakout move should be abrupt and on the large volume, which will insure us against a fake breakout and will be a more precise and reliable signal for entering the market.

trade gold

The sentiment: the mood of the market totally affirms all our trading scenarios, which is an excellent additional signal. As with gold, we need to wait for a sure exit of the price from the local range and only after that it is possible to open new deals.

sentiment

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