The Euro tested resistance level 1.1896, but could not break this mark and it remained trading near this level. The test was on average volume, so it’s impossible to single out a new volume level.
Considering the fact that the price did not show any reaction and only slightly corrected down on small volume, it is worth considering the scenario of breakout of this level, which will be an excellent signal for opening long positions.
The breakout movement must be sharp and supported by large volume, which will be a more accurate and reliable signal for opening long positions with the Euro. A stop loss should be placed below the breakout volume bar. The potential of the deal is about 90-100 points.
The situation here remained the same: even despite the growth of the price, the pair is located in the local consolidation 1.3318 – 1.3544. Also we should note that large volume is concentrated in this range, so the exit of the price from it will be a good signal for entering the market and opening new positions.
The movement must be abrupt and supported by large volume, so it will be a more reliable signal for us.
Until that we should stay out of the market.
The Yen is still locked in the local consolidation 112.08 – 113.65, so we can consider new positions only after a sure exit of the price from the range. The breakout movement must be abrupt and supported by large volume, so it will be a more reliable signal for entering the market.
While the price is located in the consolidation, we should skip this pair from our trading plan.
The Canadian dollar is trading in the little consolidation near the local minimum. So we can resume considering the scenario of opening short positions after a breakdown of the local low. The move must be keen, so it will be a more reliable signal of the continuation of the downtrend. A stop loss should be place above the beginning of the bearish impulse. A potential of the deal is around 110-120 pips.
The uptrend with the Australian dollar continued, but at the moment the price is trading in the little range near the local maximum. We should point out that increased volume is concentrated in this consolidation, so the exit of the price up will allow us to open long positions. A stop loss should be placed below the beginning of the breakout move or below the local range. A potential of the deal is up to 90 pips.
The price continued growing, so the uptrend is still going on. We should point out that the move of the price up was on small volume, so we can’t highlight any new volume level with this instrument. So on the one hand, there is a strong uptrend, on the other, we don’t have a good place for a stop loss.
That’s why we should preference to long positions, but we may enter the market only after an appearance of strong additional signal. Such a signal is a sharp bullish impulse on large volume. A stop loss can be placed below the beginning of the abrupt move up. A potential of the deal is 100-110 pips.
The sentiment: this indicator remained totally the same and it confirms scenarios with EUR/USD, USD/CAD, AUD/USD and XAU/USD.
The bottom line: nothing has changed on the market and all our previous scenarios are still actual.