Month: October 2018

Categories
NZDCAD

NZDCAD Weekly Forex Forecast 15th October to 21st October

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NZDCAD Weekly Forex Forecast 15th October to 21st October by yshashmi37 on TradingView.com

Midterm forecast:

0.8560 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 0.8560 is broken.
Technical analysis:

The RSI bounced from the downtrend #1 and it prevented price from more gains.
A trough is formed in daily chart at 0.8320 on 10/05/2018, so more gains to resistance(s) 0.8495 and maximum to Major Resistance (0.8560) 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
GBPAUD

GBPAUD Weekly Forex Forecast 14th October to 20th October

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GBPAUD Weekly Forex Forecast 14th October to 20th October by yshashmi37 on TradingView.com

Midterm forecast:

While the price is below the resistance 1.8825, beginning of downtrend is expected.
We make sure when the support at 1.8370 breaks.
If the resistance at 1.8825 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:

The RSI bounced from the support #1 at 50 and it prevented price from more losses.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 1.8725 on 10/11/2018, so more losses minimum to Major Support (1.8370) 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 59.

Categories
EURUSD

EURUSD Weekly Forex Forecast 14th October to 20th October

 

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EURUSD Weekly Forex Forecast 14th October to 20th October by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 1.1300, beginning of uptrend is expected.
We make sure when the resistance at 1.1800 breaks.
If the support at 1.1300 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 1.15095 on 2018-05-29 and the trough at 1.13005 on 2018-08-15, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI support #1 at 46 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 47.

Categories
EURNZD

EURNZD Weekly Forex Forecast 14th October to 20th October

 

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EURNZD Weekly Forex Forecast 14th October to 20th October 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 1.7665 breaks.
If the resistance at 1.8190 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:

While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 1.7930 on 10/08/2018, so more losses to support(s) 1.7730 and minimum to Major Support (1.7665) 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
EURCAD

EURCAD Weekly Forex Forecast 14th October to 20th October

 

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EURCAD Weekly Forex Forecast 14th October to 20th 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 1.4800 would begin in Midterm.
Technical analysis:

There is a divergence in RSI and price between the trough at 1.47985 on 2018-08-15 and the trough at 1.47505 on 2018-10-04, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
A trough is formed in daily chart at 1.4750 on 10/04/2018, so more gains to resistance(s) 1.5060, 1.5190, 1.5360 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 50.

Categories
EURAUD

EURAUD Weekly Forex Forecast 14th October to 20th October

 

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EURAUD Weekly Forex Forecast 14th October to 20th October 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:

While the RSI uptrend #1 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 55.

Categories
CHFJPY

CHFJPY Weekly Forex Forecast 14th October to 20th October

 

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CHFJPY Weekly Forex Forecast 14th October to 20th 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 beginning of downtrend.
Technical analysis:

The RSI uptrend #1 is broken, so the probability of beginning 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 32.
Take Profits:

Categories
CADJPY

CADJPY Weekly Forex Forecast 14th October to 20th October

 

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CADJPY Weekly Forex Forecast 14th October to 20th 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 beginning of downtrend.
Technical analysis:

The RSI bounced from the downtrend #1 and it prevented price from more gains.
The RSI uptrend #2 is broken, so the probability of beginning of downtrend is increased.
A peak is formed in daily chart at 89.20 on 10/03/2018, so more losses to support(s) 85.70, 85.05, 84.25 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
CADCHF

CADCHF Weekly Forex Forecast 14th October to 20th October

 

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CADCHF Weekly Forex Forecast 14th October to 20th 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 0.7530 would begin in Midterm.
Technical analysis:

The RSI downtrend #1 is broken, so the probability of beginning of downtrend is decreased.
While the RSI support #2 at 50 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 0.7720 on 10/03/2018, so more losses to support(s) 0.7570 and minimum to Major Support (0.7530) 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 56.

Categories
AUDUSD

AUDUSD Weekly Forex Forecast 14th October to 20th October

 

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AUDUSD Weekly Forex Forecast 14th October to 20th October by yshashmi37 on TradingView.com

Midterm forecast:

0.7320 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
Technical analysis:

While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 0.7040 on 10/08/2018, so more gains to resistance(s) 0.7160, 0.7230 and maximum to Major Resistance (0.7320) 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 43.