Month: November 2018

Categories
EURGBP

EURGBP Weekly Forex Forecast 24th November to 30th November

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EURGBP Weekly Forex Forecast 24th November to 30th November by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 0.8620, beginning of uptrend is expected.
We make sure when the resistance at 0.8930 breaks.
If the support at 0.8620 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 0.8725 on 2018-10-10 and the trough at 0.8655 on 2018-11-13, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
While the RSI resistance #1 at 63 is not broken, the probability of price increase would be too low.
The RSI bounced from the uptrend #2 and it prevented price from more losses.
A peak is formed in daily chart at 0.8935 on 11/19/2018, so more losses to support(s) 0.8795, 0.8725, 0.8685 and minimum to Major Support (0.8620) 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.

Categories
EURUSD

EURUSD Weekly Forex Forecast 24th November to 30th November

 

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EURUSD Weekly Forex Forecast 24th November to 30th November by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 1.1180, beginning of uptrend is expected.
We make sure when the resistance at 1.1530 breaks.
If the support at 1.1180 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 1.13005 on 2018-08-15 and the trough at 1.12155 on 2018-11-12, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI bounced from the uptrend #1 and it prevented price from more losses.
The RSI downtrend #2 is broken, so the probability of beginning of uptrend is increased.
A peak is formed in daily chart at 1.1470 on 11/20/2018, so more losses to support(s) 1.1325, 1.1300 and minimum to Major Support (1.1180) 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 44.

Categories
AUDCHF

AUDCHF Weekly Forex Forecast 25th November to 1st December

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AUDCHF Weekly Forex Forecast 25th November to 1st December by yshashmi37 on TradingView.com

Midterm forecast:

0.7115 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:

While the RSI support #1 at 48 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 0.7340 on 11/16/2018, so more losses minimum to Major Support (0.7115) 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 52.

Categories
AUDCAD

AUDCAD Weekly Forex Forecast 24th November to 30th November

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AUDCAD Weekly Forex Forecast 24th November to 30th November 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 0.9670 breaks.
If the support at 0.9105 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

The RSI resistance #1 at 53 is broken, so the probability of beginning of uptrend is increased.
While the RSI support #2 at 53 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 0.9665 on 11/21/2018, so more losses to support(s) 0.9485, 0.9445, 0.9375 and minimum to Major Support (0.9105) 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
XAUUSD

XAUUSD Weekly Forex Forecast 25th November to 1st December

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XAUUSD Weekly Forex Forecast 25th November to 1st December 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 bounced from the support #1 at 38 and it prevented price from more losses.
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
XAGUSD

XAGUSD Weekly Forex Forecast 25th November to 1st December

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XAGUSD Weekly Forex Forecast 25th November to 1st December by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 13.60, beginning of uptrend is expected.
We make sure when the resistance at 15.60 breaks.
If the support at 13.60 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 13.95 on 2018-09-11 and the trough at 13.9 on 2018-11-14, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
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 47.

Categories
BRENT

BRENT Weekly Forex Forecast 25th November to 1st December

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BRENT Weekly Forex Forecast 25th November to 1st December by yshashmi37 on TradingView.com

Midterm forecast:

71.30 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 71.30 is broken.
Technical analysis:

The RSI support #1 at 37 is broken, so the probability of continuation of downtrend is increased.
While the RSI resistance #2 at 58 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 19.

Categories
USDCAD

USDCAD Weekly Forex Forecast 18th November to 24th November

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USDCAD Weekly Forex Forecast 18th November to 24th 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 an uptrend wave above 1.3130 would begin in Midterm.
Technical analysis:

The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
A peak is formed in daily chart at 1.3265 on 11/14/2018, so more losses minimum to Major Support (1.3130) 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.

Categories
NZDUSD

NZDUSD Weekly Forex Forecast 18th November to 24th November

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NZDUSD Weekly Forex Forecast 18th November to 24th November by yshashmi37 on TradingView.com

Midterm forecast:

0.6430 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:

The RSI resistance #1 at 59 is broken, so the probability of continuation of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 0.6705 on 11/13/2018, so more gains to resistance(s) 0.6910, 0.7025, 0.7175 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 73.

Categories
NZDCAD

NZDCAD Weekly Forex Forecast 18th November to 24th November

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NZDCAD Weekly Forex Forecast 18th November to 24th November by yshashmi37 on TradingView.com

Midterm forecast:

0.8780 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 0.8780 is broken.
Technical analysis:

While the RSI support #1 at 49 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 0.8465 on 10/24/2018, so more gains to resistance(s) 0.9060, 0.9170, 0.9260 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 80.