Month: October 2018

Categories
EURGBP

EURGBP Weekly Forex Forecast 27th October to 2nd November

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EURGBP Weekly Forex Forecast 27th October to 1st 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 0.8965 would begin in Midterm.
Technical analysis:

While the RSI resistance #1 at 56 is not broken, the probability of price increase would be too low.
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
USDTRY

USDTRY Weekly Forex Forecast 22nd October to 28th October

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USDTRY Weekly Forex Forecast 22nd October to 28th October 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 5.0000 would begin in Midterm.
We will close our open trades, if the Midterm level 5.0000 is broken.
Technical analysis:

While the RSI downtrend #1 is not broken, bearish wave in price would continue.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 37.

Categories
USDJPY

USDJPY Weekly Forex Forecast 21st October to 27th October

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USDJPY Weekly Forex Forecast 21st October to 27th October by yshashmi37 on TradingView.com

Midterm forecast:

While the price is below the resistance 114.55, beginning of downtrend is expected.
We make sure when the support at 111.65 breaks.
If the resistance at 114.55 is broken, the short-term forecast -beginning of downtrend- will be invalid.
We will close our open trades, if the Midterm level 111.65 is broken.
Technical analysis:

The RSI bounced from the resistance #1 at 74 and it prevented price from more gains.
The RSI uptrend #2 is broken, so the probability of beginning of downtrend is increased.
While the RSI support #3 at 43 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 50.

Categories
USDCHF

USDCHF Weekly Forex Forecast 22nd October to 28th October

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USDCHF Weekly Forex Forecast 22nd October to 28th October 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 0.9790 would begin in Midterm.
Technical analysis:

The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
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 66.

Categories
USDCAD

USDCAD Weekly Forex Forecast 21st October to 27th October

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USDCAD Weekly Forex Forecast 21st October to 27th October 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 trough is formed in daily chart at 1.2915 on 10/16/2018, so more gains maximum to Major Resistance (1.3125) 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 22nd October to 28th October

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NZDUSD Weekly Forex Forecast 22nd October to 28th October by yshashmi37 on TradingView.com

Midterm forecast:

0.6700 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 0.6700 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 the correction wave is increased.
While the RSI resistance #1 at 59 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 0.6425 on 10/08/2018, so more gains to resistance(s) 0.6620 and maximum to Major Resistance (0.6700) 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 54.

Categories
NZDCAD

NZDCAD Weekly Forex Forecast 22nd October to 28th October

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NZDCAD Weekly Forex Forecast 22nd October to 28th October by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 0.8320, beginning of uptrend is expected.
We make sure when the resistance at 0.8780 breaks.
If the support at 0.8320 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.
A trough is formed in daily chart at 0.8320 on 10/05/2018, so more gains to resistance(s) 0.8640, 0.8725 and maximum to Major Resistance (0.8780) 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 62.

Categories
GBPUSD

GBPUSD Weekly Forex Forecast 21st October to 27th October

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GBPUSD Weekly Forex Forecast 21st October to 27th October 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 bounced from the support #1 at 44 and it prevented price from more losses.
A peak is formed in daily chart at 1.3255 on 10/12/2018, so more losses to support(s) 1.3025, 1.2955, 1.2920 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 49.

Categories
GBPNZD

GBPNZD Weekly Forex Forecast 22nd October to 28th October

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GBPNZD Weekly Forex Forecast 22nd October to 28th October by yshashmi37 on TradingView.com

Midterm forecast:

While the price is below the resistance 2.0470, beginning of downtrend is expected.
We make sure when the support at 1.9640 breaks.
If the resistance at 2.0470 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 2.00305 on 2018-09-18 and the peak at 2.04675 on 2018-10-10, 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 2.0470 on 10/11/2018, so more losses to support(s) 1.9755 and minimum to Major Support (1.9640) 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
GBPJPY

GBPJPY Weekly Forex Forecast 21st October to 27th October

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GBPJPY Weekly Forex Forecast 21st October to 27th October 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 145.80 would begin in Midterm.
Technical analysis:

The ascending flag taking shape suggests we will soon see another leg higher.
The RSI bounced from the support #1 at 46 and it prevented price from more losses.
A peak is formed in daily chart at 148.40 on 10/16/2018, so more losses to support(s) 146.95 and minimum to Major Support (145.80) 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 49.