Weekly Technical Forex Forecast 29.07-02.08.2019


EUR/USD

The Euro has resumed its decline and is now trading near the support/local minimum 1.1109. Given the presence of the strong local downtrend, we can consider a scenario of the breakdown of this mark, which will allow us to open short positions.

The breakout movement must be confident, rapid and supported by the large volume, which will be a more reliable signal to enter the market. A stop loss should be placed slightly above the breakout volume bar. A potential of the deal is more than 100 points.

GBP/USD

The Pound showed a sharp and steady fall on the increased volume and broke down the previous support level, which is an excellent bearish signal. Therefore, we should give preference to short positions.

Sales can be opened after a small and smooth price correction upwards to get a better entry point. A stop loss should be placed slightly above the beginning of the breakout movement. A potential of the deal is more than 120 points.

USD/JPY

The Yen continues trading above the support level 108.42, in which the large volume is concentrated. Given the recent sharp growth of the price, we still should give preference to purchases. Long positions can be opened after a small and smooth correction of the price down. A stop loss should be placed slightly below the beginning of a sharp rise. A potential of the deal is more than 100 points.

USD/CAD

The Canadian dollar corrected downward after the formation of a new resistance level 1.3189, in which the increased volume is concentrated. Nevertheless, the pair is still trading near this mark, and given the presence of a sharp surge last week, we can consider a scenario of its breakout . This will be a great bullish signal. The breakout movement must be confident and on the large volume. A stop loss should be placed slightly below the breakout volume bar. A potential of the deal is more than 100 points.

AUD/USD

The Australian dollar continued its decline, moreover, the movement was on the increased volume, which was evenly distributed. Thus, the only volume level that we can point out is the previous resistance 0.6975. Considering all these factors, we should give preference to sales. Short positions can be opened after a small and smooth correction of the price upwards. A stop loss should be placed slightly above the resistance level. A potential of the deal is about 90 points.

XAU/USD

Gold carries on trading within the local range between 2 strong levels. They are the support 1404.50 and the resistance 1445.80. It should also be noted that the large volume is concentrated within this consolidation.

Considering all these factors, we can open new positions only after a confident and rapid exit of the price from the range. The breakout movement should be supported by the large volume, which will be a more accurate signal to enter the market.

While the price is trading inside the consolidation, it is better to stay out of the market.

The sentiment: this technical indicator fully confirms our trading scenarios with all instruments, which is an excellent additional signal. As with gold, we can open new positions only after the sharp exit of the price from the local consolidation.

The best deals: GBP/USD, AUD/USD

Potentially good deals: EUR/USD, USD/JPY, USD/CAD

While out of the market: XAU/USD

Hi there to every one, the contents existing at this web page are actually remarkable for people knowledge, well, keep
up the nice work fellows.

Everyone loves what you guys tend to be up too. Such clever work and coverage!
Keep up the terrific works guys I’ve added you guys to our blogroll.

Its such as you read my mind! You appear to understand so much about this, like you wrote the
e-book in it or something. I believe that you simply could do with some % to
force the message home a little bit, but other than that, this is fantastic blog.
A great read. I’ll definitely be back.

I’m really enjoying the design and layout
of your website. It’s a very easy on the eyes which makes it much more pleasant for
me to come here and visit more often. Did you hire out a developer to create your theme?

Fantastic work!

hi!,I love your writing so so much! proportion we keep up a correspondence more approximately your article on AOL?

I need an expert in this space to unravel my
problem. May be that’s you! Having a look ahead to look
you.

Fantastic goods from you, man. I’ve take into account your stuff prior
to and you’re simply extremely magnificent. I actually like what
you’ve bought right here, certainly like what you are stating and the best
way wherein you are saying it. You’re making it entertaining
and you continue to care for to keep it wise. I can not wait to
read far more from you. This is actually a terrific web site.

Just want to say your article is as amazing. The clarity in your post is just great and i
could assume you are an expert on this subject.

Fine with your permission allow me to grab your RSS feed to
keep up to date with forthcoming post. Thanks a million and
please keep up the rewarding work. plenty of fish natalielise

Superb blog you have here but I was wondering if you knew of any forums that cover the same
topics discussed in this article? I’d really like to be
a part of online community where I can get feedback from other
experienced individuals that share the same interest.

If you have any suggestions, please let me know. Thanks!

Simply want to say your article is as surprising. The clarity
on your post is just excellent and i could suppose you are an expert in this subject.
Fine along with your permission allow me to snatch your
feed to keep updated with impending post. Thanks
1,000,000 and please continue the gratifying work.

Do you mind if I quote a few of your posts as long as I
provide credit and sources back to your webpage?
My blog is in the very same niche as yours and my visitors would definitely benefit
from a lot of the information you present here. Please let me know if this alright with you.

Thanks a lot!

Thank you a lot for sharing this with all people you actually realize what you’re
speaking approximately! Bookmarked. Kindly also seek advice from my web site =).

We may have a link change agreement between us

Sweet blog! I found it while searching on Yahoo News.
Do you have any tips on how to get listed in Yahoo News?

I’ve been trying for a while but I never seem to
get there! Appreciate it

Pingback: Google
29 Comments

Leave a Reply

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