Daily Technical Forex Forecast 30.01.2018


EUR/USD

The price tested the level of support 1.2350 – 1.2365 and is located a bit above this level. Both the fall of the pair and the test were on small volume, so we can’t consider these moves as a strong bearish signal.

Given the recent exit of the price from the consolidation, we still should give preference to long positions.

volume euro

We can enter the market after a strong rebound of the price from the support level. The move must be abrupt and supported by increased volume. A stop loss should be placed below the level of support. A potential of the deal is more than 130 pips.

buy euro

GBP/USD

The Pound continued correcting down, but the fall of the price was and is on small volume, so we can’t point out any new volume level and should not consider short positions at the moment. Moreover, there is a strong uptrend with this currency pair, so long positions are still in priority.

volume gbp

We can enter the market after a stoppage of the correction and a resumption of the growth of the price on large volume. A stop loss should be placed below the beginning of the abrupt move up. The target is the resistance level 1.4314.

buy gbp

USD/JPY

The Yen had tested the resistance 108.96 – 109.06. but failed to break it out and is located a little bit below this mark, so that, our previous scenario remains the same: we should open short positions after a sharp rebound of the price from this level. A stop loss should be placed above the test of the level. A potential of the deal is more than 100 pips.

sell jpy

USD/CAD

The Canadian dollar is trading in the local consolidation above the support level 1.2286. Given the fact of the recent exit of the price from the consolidation down, we still should give preference to a scenario of opening short positions.

We can enter the market after a resumption of the fall and a confident breakdown of the support level. A stop loss should be placed above the breakdown bar. A potential of the deal is more than 100 pips.

sell cad

AUD/USD

AUD/USD is trading in a small local consolidation under the new resistance level 0.8121, which is also a local maximum and fairly significant volume is concentrated in it. In addition, it is worth noting the presence of a strong uptrend with this instrument, so long positions are still in priority.
Nevertheless, purchases can be opened only after a sure breakout of the resistance level on large volume. This will be a more reliable and accurate signal for entering the market. A stop loss should be placed under the breakout volume bar. The potential of the deal is more than 70 points.

buy aud tfxi

XAU/USD

Gold continued falling, but the correction of the instrument was smooth and on small volume, so we can’t consider sales at the moment. Also, there is a strong volume level of support 1331.70 – 1334.90 and uptrend with gold, so we still should give advantage to purchases.

volume gold

Long positions can be opened after a test of the support and a strong rebound of the price up. The growth should be confident and supported by increased volume, which will be a more reliable signal for entering the market. A stop loss should be placed below the support. A potential of the deal is more than 150 pips.

buy gold

The sentiment: this indicator confirms all our scenario today, which is a great additional signal for us.

sentiment

The bottom line: in spite of correction with almost all instruments, our previous scenarios are still actual as volume during these moves was quite small, so we can’t consider reverse of the market.

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