Daily Technical Forex Forecast 03.10.2018


EUR/USD

The Euro adjusted up after the creation of the new support level 1.1515. However, the price growth was on the small volume, and considering the previous keen drop of the pair on the large one, we still should give advantage to short positions.

volume euro

We can enter the market after the resumption of the price drop and a sure breakdown of the support level. The move must be supported by the large volume, which will insure us against a fake breakdown. A stop loss should be placed just above the breakdown volume bar. The potential of the deal is 120 points.

sell euro

GBP/USD

The Pound also adjusted up after a sharp sink of the price yesterday. The rise of the pair was on the small volume, and considering the presence of the strong resistance level 1.3069 – 1.3094, we should give advantage to short positions.

volume gbp

We can enter the market and open sales after a stoppage of the price correction and the resumption of a sharp fall. A stop loss should be placed slightly above the resistance level. The potential of the deal is about 130 points.

sell gbp

USD/JPY

The Yen also adjusted yesterday, but the move was smooth and on the small volume. Besides it, there is a strong uptrend with this instrument, so now will still should give preference to purchases. We can enter the market after the resumption of a keen growth and sure breakout of the resistance level 114.03. The breakout movement should be supported by the large volume, which will be a more precise signal to enter the market. A stop loss should be placed below the breakout volume bar. The potential of the deal is more than 100 points.

buy jpy

USD/CAD

The Canadian dollar is trading in a small range near the local minimum. Given the previous abrupt fall and the exit of the price from the consolidation, we still should give advantage to short positions. We can open sales after the resumption of a swift fall on the large volume, which will be a more precise signal to enter the market. A stop loss should be placed slightly above the beginning of this movement. The potential of the deal is more than 120 points.

sell cad

AUD/USD

Nothing has changed with the Australian dollar as the price is still locked within the local range between 2 strong levels. They are the support 0.7100 and the resistance 0.7310. Therefore, we can regard new positions only after a sure exit of the pair from this range. The breakotu move must be abrupt and on the large volume, which will be a more accurate and reliable signal to enter the market.

trade aud

XAU/USD

Gold showed a sharp and strong price growth. Moreover, this movement was supported by the very large volume, which only enhances its value. It should also be noted that now the pair is trading near the resistance/upper limit of the local range 1210.00. This gives us the opportunity to consider the scenario of a breakout of this mark, which will allow to open long positions.

volume gold

The breakout movement must be swift and on the large volume, which will be a more accurate and reliable signal to enter the market. A stop loss should be placed under the breakout volume bar. The potential of the deal is more than 150 points.

buy gold

The sentiment: the mood of the makret totally affirms almost all of our trading scenarios, which is a good additional signal. The only exception is long positions with gold, so it is worth being extremely careful when trading this instrument. As with the Australian dollar, we should give preference to sales, but it is possible to enter the market only after a sharp exit of the price from the local consolidation.

sentiment