Daily Technical Forex Forecast 15.03.2019


EUR/USD

Nothing has changed with the Euro as the price continues growing, but the movement was and is on the small volume, so that we can’t allocate any new volume levels or zones. Nevertheless, we still should give a slight advantage to long positions. We can enter the market after the continuation of this rise, but 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 the beginning of this growth.

GBP/USD

The Pound corrected down yesterday, but the movement was on the small volume, so that we can’t point out any bearish signal. Besides it, the price is still trading near the level of resistance/upper boundary of the local range 1.3335. Hence, we can and should consider a scenario of its breakout, which will be a great bullish signal. The breakout movement must be keen and supported by the large volume, which will be a more secure signal for entering the market. A stop loss should be placed below the breakout volume bar. A potential of the deal is more than 120 points.

If the price continues correcting downwards, we’d better stay out of the market.

USD/JPY

The Yen demonstrated an abrupt and confident growth and now is trading near the level of resistance/upper boundary of the local range 112.00. Hence, we can and should regard a scenario of its breakout, which will be a great signal for opening long positions. The surge of the price must be confident, keen and supported by the large volume. A stop loss should be placed below the breakout volume bar. A potential of the deal is more than 100 pips.

If the price goes on trading inside this range, we’d better stay out of the market.

USD/CAD

The Canadian dollar carried on falling and is currently trading near the level of support/lower limit of the local range 0.3248. Therefore, we can regard a scenario of its breakdown, which will be a great bearish signal. The sink of the price must be keen and supported by the large volume, which will be a more reliable signal for entering the market. A stop loss should be placed above the breakdown volume bar. A potential of the deal is around 110 points.

If the price continues trading inside the range, we’d better stay out of the market.

AUD/USD

The Australian dollar showed a significant and sharp rise yesterday. At the moment, the pair is trading near the resistance/upper limit of the local range 0.7100. Thus, we can consider a scenario of the breakout of this mark, which will allow us to open long positions with this currency pair. The breakout movement must be confident and on the large volume, which will be a more accurate and reliable signal to enter the market. A stop loss should be placed slightly below the breakout volume bar. The potential of the deals is about 90-100 points.

If the price continues to trade within the consolidation, it is better to stay out of the market.

XAU/USD

The price corrected down yesterday, but after the formation of the new support 1293.50 the price resumed growing. Hence, we can consider a scenario of opening long positions, but after a smooth downward correction, in order to get a more profitable entry point. A stop loss should be placed below the new support. Our first target is the resistance 1312.00.

If the price breaks down this mark, we’d better stay out of the market.

The sentiment: this technical indicator totally affirms our trading scenarios with EUR/USD, GBP/USD and USD/JPY, which is a great additional signal (trading against the “crowd”). As with other pairs, the situation is 50/50, so that we should be more careful and wait for an appearance of confirming signals.

No Comments

Leave a Reply

Your email address will not be published. Required fields are marked *