Daily Technical Forex Forecast 27.12.2018


EUR/USD

The Euro demonstrated opposite moves yesterday, but both fall and rise were on the small volume, so that we can’t allocated any new volume level or zone. Furthermore, the pair is still trading inside the local consolidation between the support 1.1267 and the resistance 1.1463.

Therefore, the best decision with this instrument is just to wait for the sure and sharp exit of the price from the range and only after that we can regard new trading scenarios. The move must be supported by the large volume, which will be a more reliable and precise signal for entering the market.

GBP/USD

The Pound fell down sharply yesterday, but the fall was on the small volume, so that we can’t point out any new volume level or zone. However, given the strong downtrend with this instrument, we still should prefer a scenario of opening short positions.

Sales can be opened after a continuation of the drop, but the move must be supported by the large volume, which will be a more reliable signal for entering the market. A stop loss should be placed above the beginning of this fall. A potential of the deal is more than 100 points.

USD/JPY

The Yen showed a strong rise, but the movement was on the average volume, so we can’t point new level or zone. Moreover, there is a strong local downtrend and the volume resistance level 111.65. Thus, we still should give advantage to short positions. We can enter the market after a stoppage of this rise and a resumption of an abrupt drop. The move must be supported by the large volume, which will be a more secure signal for entering the market. A stop loss should be placed above the resistance level. A potential of the deal is more than 100 points.

USD/CAD

The Canadian dollar adjusted smoothly down yesterday, but the downward movement was on the small volume, so we cannot view it as a reversal signal. In addition, there is a strong uptrend with this instrument, and it is worth highlighting the support level 1.3513. Taking into account all these factors, we still need to give preference to the scenario of opening long positions with this currency pair. Purchases can be opened after a continuation of the smooth price correction, in order to get a better entry point to the market. A stop loss should be placed just below the support level. The potential of the deal is more than 100 points.

AUD/USD

The Australian dollar indicated a slight surge yesterday. The growth was on the small volume, so that we can’t point out any new volume level or zone. Besides it, there is a strong local downtrend, so we still should give advantage to sales. However, we can enter the market after a continuation of this correction, in order to get a more profitable entry point. The move must be on the small volume. A stop loss should be placed above the recent abrupt sink. A potential of the deal is more than 80 points.

XAU/USD

The price fell down sharply, but on the medium volume yesterday, so that we can’t point out any new volume level or zone. Furthermore, there is a strong uptrend with this pair, hence, we still should give preference to long positions.

However, we can enter the market only after a stoppage of this correction and a resumption of the sharp surge. The movement must be supported by the large volume, which will be a more reliable signal for entering the market. A stop loss should be placed below this move. A potential of the deal is more than 150 points.

The sentiment: this indicator totally affirms all our trading scenarios today, which is a nice additional signal. As with the Euro, we should wait for the exit of the pair from local consolidation and only after that we can consider new positions.

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