Month: October 2018

Categories
EURNZD

EURNZD Weekly Forex Forecast 7th October to 13th October

 

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EURNZD Weekly Forex Forecast 7th October to 13th 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 1.7735 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 trough is formed in daily chart at 1.7475 on 09/28/2018, so more gains to resistance(s) 1.8000 and maximum to Major Resistance (1.8190) 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 68.

Categories
EURJPY

EURJPY Weekly Forex Forecast 7th October to 13th October

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

Midterm forecast:

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

The RSI bounced from the resistance #1 at 68 and it prevented price from more gains.
While the RSI support #2 at 47 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 133.10 on 09/21/2018, so more losses minimum to Major Support (129.95) 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 51.

Categories
EURCAD

EURCAD Weekly Forex Forecast 7th October to 13th Octobe

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

Midterm forecast:

While the price is above the support 1.4800, beginning of uptrend is expected.
We make sure when the resistance at 1.5060 breaks.
If the support at 1.4800 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 1.47985 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.
The RSI support #1 at 47 is broken, so the probability of beginning of uptrend is decreased.
A trough is formed in daily chart at 1.4750 on 10/04/2018, so more gains to resistance(s)1.4915 and maximum to Major Resistance(1.5060) 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 41.

Categories
EURAUD

EURAUD Weekly Forex Forecast 7th October to 13th October

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EURAUD Weekly Forex Forecast 7th October to 13th 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 supportagainst more losses.
Relative strength index (RSI) is 64.

Categories
CHFJPY

CHFJPY Weekly Forex Forecast 7th October to 13th October

 

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CHFJPY Weekly Forex Forecast 6th October to 12th October by yshashmi37 on TradingView.com

Midterm forecast:

  • 113.25 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.
  • 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
CADJPY

CADJPY Weekly Forex Forecast 6th October to 12th October

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CADJPY Weekly Forex Forecast 6th October to 12th October by yshashmi37 on TradingView.com

Midterm forecast:

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

The RSI bounced from the downtrend #1 and it prevented price from more gains.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 89.20 on 10/03/2018, so more losses minimum to Major Support (87.35) 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
CADCHF

CADCHF Weekly Forex Forecast 6th October to 12th October

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CADCHF Weekly Forex Forecast 6th October to 12th 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 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 64.
Categories
AUDUSD

AUDUSD Weekly Forex Forecast 6th October to 12th October

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AUDUSD Weekly Forex Forecast 6th October to 12th October by yshashmi37 on TradingView.com


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Midterm forecast:

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

Technical analysis:

  • The RSI bounced from the resistance #1 at 55 and it prevented price from more gains.
  • A peak is formed in daily chart at 0.7305 on 09/21/2018, so more losses to support(s) 0.6825, 0.6280, 0.6000 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 31.
Categories
AUDNZD

AUDNZD Weekly Forex Forecast 6th October to 12th October

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AUDNZD Weekly Forex Forecast 6th October to 12th 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 1.1140 would begin in Midterm.
Technical analysis:

The ascending flag taking shape suggests we will soon see another leg higher.
While the RSI resistance #1 at 55 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 55.

Categories
EURGBP

EURGBP Weekly Forex Forecast 7th October to 13th October

 

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

Midterm forecast:

The current trend is downtrend and the forecast is continuation of downtrend.
Technical analysis:

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 31.