Month: October 2018

Categories
EURGBP

EURGBP Weekly Forex Forecast 21st October to 27th October

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

Midterm forecast:

0.8915 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
Technical analysis:

The Rising Wedge taking shape and as a bearish pattern suggests we will soon see another leg lower if price breaks and closes below uptrend.
While the RSI resistance #1 at 54 is not broken, the probability of price increase 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 45.

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
AUDUSD

AUDUSD Weekly Forex Forecast 21st October to 27th October

 

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

Midterm forecast:

While the price is above the support 0.7040, beginning of uptrend is expected.
We make sure when the resistance at 0.7160 breaks.
If the support at 0.7040 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 0.7160 on 10/17/2018, so more losses to support(s) 0.7085 and minimum to Major Support (0.7040) 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
AUDNZD

AUDNZD Weekly Forex Forecast 20th October to 26th October

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AUDNZD Weekly Forex Forecast 20th October to 26th October by yshashmi37 on TradingView.com

Midterm forecast:

1.1140 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
Technical analysis:

The ascending flag taking shape suggests we will soon see another leg higher.
While the RSI resistance #1 at 58 is not broken, the probability of price increase would be too low.
The RSI uptrend #2 is broken, so the probability of continuation 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 34.

Categories
AUDJPY

AUDJPY Weekly Forex Forecast 20th October to 26th October

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AUDJPY Weekly Forex Forecast 20th October to 26th October by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 78.65, beginning of uptrend is expected.
We make sure when the resistance at 82.50 breaks.
If the support at 78.65 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

There is a divergence in RSI and price between the trough at 80.495 on 2018-03-23 and the trough at 78.68 on 2018-09-07, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI support #1 at 50 is broken, so the probability of beginning of uptrend is decreased.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 46.

Categories
AUDCHF

AUDCHF Weekly Forex Forecast 20th October to 26th October

 

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AUDCHF Weekly Forex Forecast 20th October to 26th October by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 0.6870, beginning of uptrend is expected.
We make sure when the resistance at 0.7145 breaks.
If the support at 0.6870 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

While the RSI resistance #1 at 58 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 0.6970 on 10/11/2018, so more gains maximum to Major Resistance (0.7145) 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 55.

Categories
AUDCAD

AUDCAD Weekly Forex Forecast 20th October to 26th October

 

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AUDCAD Weekly Forex Forecast 20th October to 26th October by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 0.9105, beginning of uptrend is expected.
We make sure when the resistance at 0.9325 breaks.
If the support at 0.9105 is broken, the short-term forecast -beginning of uptrend- will be invalid.
We will close our open trades, if the Midterm level 0.9325 is broken.
Technical analysis:

The RSI bounced from the support #1 at 25 and it prevented price from more losses.
While the RSI resistance #2 at 52 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 53.

Categories
XAUUSD

XAUUSD Weekly Forex Forecast 20th October to 26th October

 

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XAUUSD Weekly Forex Forecast 20th October to 26th 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 1183.15 would begin in Midterm.
Technical analysis:

The RSI resistance #1 at 53 is broken, so the probability of beginning of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 61.

Categories
USDCHF

USDCHF Weekly Forex Forecast 13th October to 19th October

 

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USDCHF Weekly Forex Forecast 13th October to 19th 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 peak is formed in daily chart at 0.9955 on 10/09/2018, so more losses to support(s) 0.9865 and minimum to Major Support (0.9790) 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 65.

Categories
USDCAD

USDCAD Weekly Forex Forecast 13th October to 19th October

 

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USDCAD Weekly Forex Forecast 13th October to 19th 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 1.3080 would begin in Midterm.
Technical analysis:

A trough is formed in daily chart at 1.2780 on 10/01/2018, so more gains maximum to Major Resistance (1.3080) 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 53.