Daily Technical Forex Forecast 25.06.2019


EUR/USD

The price continued growing, but unfortunately the movement was on the small volume, so that we can’t point out any new volume level or zone. Nevertheless, given the presence of the local uptrend, we still should prefer a scenario of opening long positions.

However, we can enter the market after a smooth downward correction, in order to get a better entry point. A stop loss should be placed below the beginning of an abrupt growth. A potential of the deal is more than 100 points.

GBP/USD

Nothing has changed here. The price is still trading near the level of resistance/upper boundary of the local range 1.2796. Thus, our previous scenario remains actual: we can reckon a a breakout of this level, which will allow us to open long positions.

The surge must be keen, confident and supported by the large volume, that will insure us against a fake breakout and will be a more reliable 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 pips.

USD/JPY

The pair demonstrated an abrupt fall, which is a good bearish signal. Besides it, we need to point out the new volume level of resistance 107.70. Given all these factors, we should prefer short positions. We can enter the market after a slight upward correction, in order to get an acceptable entry point. A stop loss should be placed above the new level of resistance. A potential of the deal is more than 100 points.

USD/CAD

The Canadian dollar is trading in the small local range near the level of support/lower boundary of the local range 1.3153. Thus, our previous scenario remains actual: we can regard a breakdown of this mark, which will allow us to open sales. The movement must be keen 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 100 points.

AUD/USD

Nothing has changed with the Australian dollar as the price is still located within the local consolidation between 2 strong volume levels. They are the support 0.6845 and the resistance 0.7017. Hence, we can consider new trading sceanrios only after the sharp 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 accurate signal for entering the market.

Until that, we’d better stay out of the market.

XAU/USD

The price continued growing, moreover, the movement was supported by the increased volume, which is a good bullish signal. We also need to point out the new level of support 1412.30. Considering all these factors, we should reckon exceptionally long positions.

We can enter the market after a smooth downward correction, in order to get an acceptable entry point. A stop loss should be placed below the level of support. A potential of the deal is more than 200 points.

The sentiment: this technical indicator totally affirms all our trading scenarios, which is a great additional signal for us. As with the Pound, we should be more careful as the situation here is opposite. As with AUD/USD, we can use the sentiment only aftet the exit of the price from the range.

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