Daily Technical Forex Forecast 19.06.2019


EUR/USD

The Euro demonstrated an abrupt fall supported by the large volume and broke down the previous level of support, which is a great bearish signal. The further move was stopped by the formation of the new volume level 1.1185. Thus, we can consider short positions only after the confident breakdown of this mark.

The movement 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 more than 100 points.

GBP/USD

The Pound corrected upwards after the formation of the new volume level of support 1.2520. Nevertheless, the price is still located near this mark, therefore, we may consider a scenario of the breakdown of this level, which will allow us to open short positions.

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 above the breakdown volume bar. A potential of the deal is more than 120 points.

USD/JPY

Nothing has changed here as the price is still located inside the local range between 2 strong volume levels. The first one is the 107.83, the second one is the resistance 108.85. Hence, we can open new positions only after the confident exit of the price from it. Moreover, the breakout movement must be rapid and supported by the large volume, which will be a more accurate signal for entering the market.

While the price is trading inside this range, we’d better stay out of the market.

USD/CAD

The Canadian dollar tested the resistance level 1.3418, but could not break it out and corrected down after that. However, the price is still trading near this mark, hence we still may reckon its breakout, which will allow us to open long positions. The surge 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 100 points.

AUD/USD

The Australian dollar corrected upwards after the creation of the new level of support 0.6845. Nevertheless, given that the price is still trading near it + presence of the local downtrend, we may consider a breakdown of this mark, which will consent us to open short positions. The drop must be rapid and supported by the large volume, which will be a more precise signal for entering the market. A stop loss should be placed above the breakdown volume bar. A potential of the deal is more than 80 points.

XAU/USD

The price is trading inside the local range between the level of support 1320.30 and the level of resistance 1355.40. Moreover, the large volume is concentrated within the local consolidation, which means that the smart money are gaining its positions in it.

Therefore, our previous scenario remains relevant: we can open new positions only after the confident exit of the price from the range. Moreover, the breakout movement must be abrupt and supported by the large volume, which will be a more reliable signal for entering the market.

While the price is trading inside this range, we’d better stay out of the market.

The sentiment: this technical indicator totally confirms all our trading scenarios today, which is a great additional signal for us. As with USD/JPY and XAU/USD, we can open new positions only after the exit of the price from the range.

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