Daily Technical Forex Forecast 30.07.2019


EUR/USD

The Euro slightly corrected upwards yesterday, but is still located near the level of support/local minimum 1.1109. Hence, our previous scenario is still relevant: we may reckon a breakdown of this mark, which will allow us to open short positions.

The drop of the pair must be confident, 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 demonstrated a huge drop supported by the very large volume, which is a great bearish signal. Besides it, we need to point out the new volume level of resistance 1.2235. Considering all these factors, we should give advantage to short positions.

We can enter the market after a smooth 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 120 pips.

USD/JPY

The Yen corrected downwards yesterday, but is still located above the level of support 108.42, which contains the large volume. Moreover, the fall was on the small volume, therefore, we can’t consider short positions now. Given the presence of the strong local uptrend, we still should prefer a scenario of opening long positions. We can enter the market after a stoppage of this correction and a resumption of an abrupt growth supported by the large volume. A stop loss should be located below the level of support. A potential of the deal is more than 100 points.

USD/CAD

The Canadian dollar resuned rising and now is trading near the level of resistance 1.3189. Hence, we may regard a scenario of its breakout, which will be a strong bullish signal. The surge must be sharp, confident 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 move was supported by the increased volume. We should also allocated the new resistance level 0.6925, which contains the large volume. Therefore, we should consider exceptionally long positions with this pair. We can enter the market after a slight upward correction, in order to get a better entry point. A stop loss should be placed above the new resistance level. A potential of the deal is more than 80 points.

XAU/USD

Nothing has changed here as the price continues trading inside the local consolidation, where the large volume is concentrated. The boundaries of the range are the support 1404.50 and the resistance 1445.80. Therefore, we can consider new trading scenarios only after the sharp and confident exit of the price from this consolidation. Moreover, the breakout movement must be 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.

The sentiment: this technical indicator totally affirms our trading scenarios with EUR/USD, GBP/USD, USD/JPY, USD/CAD and AUD/USD, which is a good additional signal for us. As with gold, we can open new positions only after the sharp exit of the price from the local range.

Hello to every single one, it’s really a nice for me
to pay a visit this web site, it includes valuable Information.

Hi are using WordPress for your site platform? I’m new to the blog world but
I’m trying to get started and set up my own. Do you require any coding knowledge to make your own blog?
Any help would be really appreciated! plenty of fish natalielise

It’s the best time to make some plans for the future and it
is time to be happy. I have read this post and if I could I desire
to suggest you some interesting things or advice. Perhaps
you could write next articles referring to this article.
I desire to read even more things about it!

Hey there just wanted to give you a quick heads up and let you know
a few of the images aren’t loading correctly.
I’m not sure why but I think its a linking issue. I’ve tried it in two different web browsers
and both show the same results.

After looking at a number of the articles on your blog, I seriously appreciate your way of writing a blog.

I added it to my bookmark site list and will be checking back soon.
Please visit my web site as well and tell me your opinion.

21 Comments

Leave a Reply

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