Daily Technical Forex Forecast 26.06.2019


EUR/USD

The Euro corrected downward after the formation of the new level of resistance 1.1395. This level contains the large volume, but the drop was smooth and the price is still located near it. Thus, given the presence of the strong local uptrend we may consider a scenario of its breakout, which will allow us to open long positions.

The growth of the price must be abrupt and supported by the large volume, which 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 100 points.

GBP/USD

The price corrected downwards yesterday and now is trading in the middle of the local range between 2 strong volume levels. They are the support 1.2520 and the resistance 1.2796.

Therefore, we can consider new positions only after the confident exit of the price from this consolidation. Moreover, the breakout movement must be abrupt, confident 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/JPY

The Yen sharply corrected upwards yesterday and now is trading inside the local range between 2 strong volume levels. The first one is the previous level of resistance 107.70, the second one is the new level of support 106.88. Thus, we can open new positions only after the breakout of one is these levels and the sharp exit of the price from the consolidation. Moreover, the breakout movement must be rapid, sure and supported by the large volume, which will be a more accurate and reliable signal for entering the market.

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

USD/CAD

The Canadian dollar is testing the level of support 1.3153, so that we may reckon a scenario of its breakdown, which will consent us to open short positions. The movement must be keen and supported by the large volume, that will insure us against a fake breakdown. A stop loss should be placed above the breakdown volume bar. A potential of the deal is more than 100 points.

AUD/USD

The Australian dollar went on rising, but is still located within the local consolidation between 2 strong volume levels. They are the support level 0.6845 and the resistance level 0.7017. Hence, we can consider new positions only after the sharp exit of the pair from the local range. Furthermore, the breakout movement mus tbe confident, rapid and supported by the large volume, which will be a more reliable signal for entering the market.

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

XAU/USD

The price also corrected downwards yesterday after the formation of the new level of resistance, it’s 1435.80. Nevertheless, the price is still located near this mark and given the recent sharp growth, we may reckon a scenario of its breakout, which will allow us to open long positions.

The growth of the price must be confident, sharp 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 200 points.

If the price continues falling down, we’d better stay out of the market.

The sentiment: this technical indicator totally affirms our trading scenarios with EUR/USD, USD/CAD and XAU/USD, which is a good additional signal. As with other currency pairs, we can open new positions only after the sharp exit of prices from local consolidations.

No Comments

Leave a Reply

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