Month: October 2018

Categories
USDCHF

USDCHF Weekly Forex Forecast 28th October to 3rd November

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USDCHF Weekly Forex Forecast 28th October to 3rd November by yshashmi37 on TradingView.com

Midterm forecast:

There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 0.9840 would begin in Midterm.
Technical analysis:

While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 0.9850 on 10/15/2018, so more gains to resistance(s) 0.9985, 1.0070, 1.0100 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 63.

Categories
USDCAD

USDCAD Weekly Forex Forecast 28th October to 3rd November

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USDCAD Weekly Forex Forecast 28th October to 3rd November by yshashmi37 on TradingView.com

Midterm forecast:

There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.3125 would begin in Midterm.
Technical analysis:

A peak is formed in daily chart at 1.3130 on 10/19/2018, so more losses to support(s) 1.3080, 1.3000, 1.2885 and more depths is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 58.

Categories
NZDUSD

NZDUSD Weekly Forex Forecast 28th October to 3rd November

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NZDUSD Weekly Forex Forecast 28th October to 3rd November by yshashmi37 on TradingView.com

Midterm forecast:

0.6620 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 0.6620 is broken.
Technical analysis:

There is a divergence in RSI and price between the trough at 0.6544 on 2018-08-15 and the trough at 0.6424 on 2018-10-08, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
While the RSI resistance #1 at 59 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 0.6610 on 10/22/2018, so more losses to support(s) 0.6500, 0.6430, 0.6245 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 45.

Categories
GBPUSD

GBPUSD Weekly Forex Forecast 28th October to 3rd November

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GBPUSD Weekly Forex Forecast 28th October to 3rd November by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 1.2660, beginning of uptrend is expected.
We make sure when the resistance at 1.3300 breaks.
If the support at 1.2660 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

The RSI support #1 at 44 is broken, so the probability of beginning of uptrend is decreased.
A peak is formed in daily chart at 1.3255 on 10/12/2018, so more losses to support(s) 1.2775 and minimum to Major Support (1.2660) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 36.

Categories
GBPJPY

GBPJPY Weekly Forex Forecast 28th October to 3rd November

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GBPJPY Weekly Forex Forecast 28th October to 3rd November by yshashmi37 on TradingView.com

Midterm forecast:

145.80 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
Technical analysis:

The RSI support #1 at 46 is broken, so the probability of continuation of downtrend is increased.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 148.40 on 10/16/2018, so more losses to support(s) 139.45, 135.60, 129.60 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 34.

Categories
GBPCHF

GBPCHF Weekly Forex Forecast 28th October to 3rd November

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GBPCHF Weekly Forex Forecast 28th October to 3rd November by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 1.2745, beginning of uptrend is expected.
We make sure when the resistance at 1.3100 breaks.
If the support at 1.2745 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
While the RSI support #2 at 39 is not broken, the probability of price decrease would be too low.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 43.

Categories
GBPCAD

GBPCAD Weekly Forex Forecast 28th October to 3rd November

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GBPCAD Weekly Forex Forecast 28th October to 3rd November by yshashmi37 on TradingView.com

Midterm forecast:

While the price is below the resistance 1.7230, resumption of downtrend is expected.
We make sure when the support at 1.6565 breaks.
If the resistance at 1.7230 is broken, the short-term forecast -resumption of downtrend- will be invalid.
We will close our open trades, if the Midterm level 1.7230 is broken.
Technical analysis:

The RSI bounced from the resistance #1 at 63 and it prevented price from more gains.
The RSI uptrend #2 is broken, so the probability of resumption of downtrend is increased.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 43.

Categories
GBPAUD

GBPAUD Weekly Forex Forecast 28th October to 3rd November

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GBPAUD Weekly Forex Forecast 28th October to 3rd November by yshashmi37 on TradingView.com

Midterm forecast:

Although current trend is uptrend, but we forecast a downtrend wave would begin in Midterm.
Technical analysis:

There is a divergence in RSI and price between the peak at 1.8375 on 2018-09-11 and the peak at 1.8722 on 2018-10-10, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
The RSI support #1 at 50 is broken, so the probability of beginning of downtrend is increased.
A peak is formed in daily chart at 1.8725 on 10/11/2018, so more losses to support(s) 1.7940, 1.7800, 1.7650 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 42.

Categories
EURNZD

EURNZD Weekly Forex Forecast 28th October to 3rd November

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EURNZD Weekly Forex Forecast 28th October to 3rd November by yshashmi37 on TradingView.com

Midterm forecast:

While the price is below the resistance 1.8190, beginning of downtrend is expected.
We make sure when the support at 1.7390 breaks.
If the resistance at 1.8190 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:

There is a divergence in RSI and price between the peak at 1.78245 on 2018-09-11 and the peak at 1.79285 on 2018-10-08, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
A peak is formed in daily chart at 1.7930 on 10/08/2018, so more losses to support(s) 1.7480 and minimum to Major Support (1.7390) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 44.

Categories
EURAUD

EURAUD Weekly Forex Forecast 28th October to 3rd November

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EURAUD Weekly Forex Forecast 28th October to 3rd November by yshashmi37 on TradingView.com

Midterm forecast:

While the price is below the resistance 1.6355, beginning of downtrend is expected.
We make sure when the support at 1.5985 breaks.
If the resistance at 1.6355 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:

There is a divergence in RSI and price between the peak at 1.6354 on 2018-09-11 and the peak at 1.6357 on 2018-10-11, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 1.6431 on 10/11/2018, so more losses minimum to Major Support (1.5985) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 44.