Month: October 2018

Categories
USDCHF

USDCHF Weekly Forex Forecast 7th October to 13th October

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USDCHF Weekly Forex Forecast 7th October to 13th 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 0.9700 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 0.9540 on 09/21/2018, 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 supportagainst more losses.
Relative strength index (RSI) is 67.

Categories
USDCAD

USDCAD Weekly Forex Forecast 7th October to 13th October

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USDCAD Weekly Forex Forecast 7th October to 13th 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 to resistance(s) 1.3000 and maximum to Major Resistance (1.3080) 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 47.

Categories
NZDUSD

NZDUSD Weekly Forex Forecast 6th October to 12th October

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NZDUSD Weekly Forex Forecast 6th October to 12th 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:

While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 0.6700 on 09/21/2018, so more losses to support(s) 0.6430, 0.6245, 0.5930 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 29.

Categories
NZDCAD

NZDCAD Weekly Forex Forecast 7th October to 13th October

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NZDCAD Weekly Forex Forecast 7th October to 13th October by yshashmi37 on TradingView.com

Midterm forecast:

0.8495 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 0.8495 is broken.
Technical analysis:

The RSI bounced from the downtrend #1 and it prevented price from more gains.
A peak is formed in daily chart at 0.8695 on 09/27/2018, so more losses to support(s) 0.8310, 0.7965, 0.7810 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 26.

Categories
GBPUSD

GBPUSD Weekly Forex Forecast 6th October to 12th October

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GBPUSD Weekly Forex Forecast 6th October to 12th 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 trough is formed in daily chart at 1.2920 on 10/04/2018, so more gains to resistance(s) 1.3170 and maximum to Major Resistance (1.3300) 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
GBPNZD

GBPNZD Weekly Forex Forecast 7th October to 13th October

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GBPNZD Weekly Forex Forecast 7th October to 13th October by yshashmi37 on TradingView.com

Midterm forecast:

1.9835 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:

While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 1.9640 on 10/02/2018, so more gains to resistance(s)2.0660, 2.0800, 2.1050 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 72.

Categories
GBPJPY

GBPJPY Weekly Forex Forecast 7th October to 13th October

 

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GBPJPY Weekly Forex Forecast 7th October to 13th 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 145.90 would begin in Midterm.
Technical analysis:

The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg higher if price breaks and closes above the downtrend line of the triangle.
The RSI bounced from the resistance #1 at 68 and it prevented price from more gains.
Price is above WEMA21, if price drops more, this line can act as dynamic supportagainst more losses.
Relative strength index (RSI) is 63.

Categories
GBPCHF

GBPCHF Weekly Forex Forecast 7th October to 13th October

 

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GBPCHF Weekly Forex Forecast 7th October to 13th October 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.
Price is above WEMA21, if price drops more, this line can act as dynamic supportagainst more losses.
Relative strength index (RSI) is 69.

Categories
GBPCAD

GBPCAD Weekly Forex Forecast 7th October to 13th October

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GBPCAD Weekly Forex Forecast 7th October to 13th October by yshashmi37 on TradingView.com

Midterm forecast:

While the price is below the resistance 1.7185, resumption of downtrend is expected.
We make sure when the support at 1.6565 breaks.
If the resistance at 1.7185 is broken, the short-term forecast -resumption of downtrend- will be invalid.
We will close our open trades, if the Midterm level 1.7185 is broken.
Technical analysis:

While the RSI resistance #1 at 63 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 52.

Categories
GBPAUD

GBPAUD Weekly Forex Forecast 7th October to 13th October

 

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GBPAUD Weekly Forex Forecast 7th October to 13th 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 1.8400 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 trough is formed in daily chart at 1.8000 on 09/28/2018, so more gains to resistance(s)1.8660 and maximum to Major Resistance(1.8825) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic supportagainst more losses.
Relative strength index (RSI) is 69.