Volumetric analysis on September 4

 

GBP/USD

At the opening of the American session, the fall of the GBPUSD pair was stopped quite harshly. We saw a bunch of limit orders, and the increased demand for a futures contract at the very lowest, and we have reason to believe that the price range of 1.2830-1.2800 is interesting to someone. However, the resistance at 1,2860-1,2900 is written off early. You can expect that the rebound will take place at least to support at 1.2830. This is a very small distance for possible trade, so it's better to take a pause and wait for breakthrough 1.2800 price level to consider a further opportunity for sale, and in case of a breakdown of 1.2900, already think about an alternative scenario.

 

XAU/USD

This instrument has an idea with a long-term perspective. The fact that the price range of 1208,80-1200 accumulated maximum volume means that there is probability an open interest of the seller. This range is wide, but only breakdown of 1208,80 will indicate a change in the trend towards an upward scenario. It is difficult enough to suggest where exactly shall be entry points for a short trade. It is possible that it can be searched in the price range 1194-1198. There is also volumes and it is quite possible that a retreat can take a place here. The target for the fall will be 1180. This is far away for an intraday deal, but that's how the goal should be considered if our possible stop is above 1208.80.

 

WTI

A very aggressive initiative was recorded on the opening of the American session. We will distinguish the price range of 69.70-70.50, where it was represented clearly. There is a reason to believe that in this price range should be a reaction of price and possible downwards rebound. In general, the technical picture looks like a false breakdown has already been formed. However, as long as the volume that gave the initiative upwards, which is in the price range of 68.95-68.10, has not been penetrated, this breakdown is too early to be considered false. Movement up is still a priority, although there is not much potential.

 


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