Daily Technical Forex Forecast 25.04.2019


EUR/USD

The Euro demonstrated an abrupt drop supported by the large volume and broke down the previous level of support, which is a great bearish signal. Besides it, we need to point the new volume level of resistance, it’s 1.1219. Therefore, we should consider exceptionally short positions.

We can enter the market after a smooth upward correction, in order to get a better entry point. A stop loss should be placed above the level of resistance. A potential of the deal is more than 110 pips.

GBP/USD

The Pound tested the level of resistance 1.2947 – 1.2960 and then demonstrated an abrupt drop. The movement was supported by the large volume, which only enhances its importance. So given all these factors, we should regard short positions.

We can enter the market after a smooth upward correction, in order to get a more profitable entry point. A stop loss should be located above the resistance level. A potential of the deal is more than 120 pips.

USD/JPY

The Yen tested the level of resistance one more time, but failed to break it out. On the other hand, it is still located at this level, therefore, our previous scenario remains relevant: we can and should regard its breakout, which will be a great signal for opening long positions. The surge of the price must be keen and supported by the large volume. A stop loss should be located below the breakout volume bar. A potential of the deal is more than 100 points.

USD/CAD

The Canadian dollar continued rising, but the farther growth was stopped after the appearance of the new volume level 1.3514. However, the price is testing this mark now. Therefore, we can consider a scenario of its breakout, which will allow us to open long positions. The surge must be keen and supported by the large volume, which will insure us against a fake breakout. A stop loss should be placed below the breakout volume bar. A potential of the deal is more than 100 points.

AUD/USD

The Australian dollar went on falling, moreover, the movement was supported by the large volume. Besides it, we should allocate the new level of resistance 0.7048, which contains the large volume. Thus, given all these factors, we should consider exceptionally short positions. We can open sales after a slight correction of the price up, in order to get a more profitable entry point. A stop loss should be placed above the resistance level. A potential of the deal is more than 80 points.

XAU/USD

The price corrected upwards yesterday, but is still located near the level of support/local minimum 1273.90. Given this factor and the presence of the strong local downtrend, we still may consider a scenario of its breakdown, which will allow us to open short positions.

The drop of the price must be confident, abrupt and supported by the large volume. A stop loss should be placed above the breakdown volume bar. A potential of the deal is more than 150 pips. If the price continues correcting upwards, we’d better stay out of the market.

The sentiment: this technical indicator totally confirms all our trading scenarios today (trading against the “crowd”), which is a great additionaly signal for us.