Month: November 2018

Categories
GBPJPY

GBPJPY Weekly Forex Forecast 18th November to 24th November

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

Midterm forecast:

While the price is above the support 142.75, beginning of uptrend is expected.
We make sure when the resistance at 149.35 breaks.
If the support at 142.75 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.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 149.50 on 11/08/2018, so more losses to support(s) 143.55 and minimum to Major Support (142.75) 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 42.

Categories
EURGBP

EURGBP Weekly Forex Forecast 18th November to 24th November

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EURGBP Weekly Forex Forecast 18th November to 24th 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 downtrend #1 is not broken, bearish wave in price would continue.
The RSI bounced from the uptrend #2 and it prevented price from more losses.
A trough is formed in daily chart at 0.8655 on 11/13/2018, so more gains maximum to Major Resistance (0.8930) 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
EURUSD

EURUSD Weekly Forex Forecast 18th November to 24th November

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EURUSD Weekly Forex Forecast 18th November to 24th 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 trough is formed in daily chart at 1.1215 on 11/12/2018, so more gains to resistance(s) 1.1450 and maximum to Major Resistance (1.1530) 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 51.

Categories
XAGUSD

XAGUSD Weekly Forex Forecast 18th November to 24th November

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XAGUSD Weekly Forex Forecast 18th November to 24th November 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 14.35 on 2018-08-16 and the trough at 13.95 on 2018-09-11, 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 above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 50.

Categories
USDTRY

USDTRY Weekly Forex Forecast 12th November to 18th November

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USDTRY Weekly Forex Forecast 12th November to 18th 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 5.0000 would begin in Midterm.
We will close our open trades, if the Midterm level 5.0000 is broken.
Technical analysis:

The RSI downtrend #1 is broken, so the probability of resumption of uptrend 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 39.

Categories
USDCHF

USDCHF Weekly Forex Forecast 10th November to 16th November

 

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USDCHF Weekly Forex Forecast 10th November to 16th 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 a downtrend wave below 1.0100 would begin in Midterm.
Technical analysis:

While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 0.9950 on 11/07/2018, so more gains to resistance(s) 1.0095 and maximum to Major Resistance (1.0100) 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 10th November to 16th November

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USDCAD Weekly Forex Forecast 10th November to 16th 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 1.3170 would begin in Midterm.
Technical analysis:

While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 1.3050 on 11/02/2018, so more gains to resistance(s) 1.3225 and maximum to Trend Hunter Sell Zone (1.3290 to 1.3385) 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 64.

Categories
NZDUSD

NZDUSD Weekly Forex Forecast 10th November to 16th November

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NZDUSD Weekly Forex Forecast 10th November to 16th 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:

There is a divergence in RSI and price between the trough at 0.6544 on 2018-08-15 and the trough at 0.6424 on 2018-10-08, the probability of downtrend continuation is decreased and the probability of continuation of uptrend is increased.
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 0.6465 on 10/26/2018, so more gains to resistance(s) 0.6800, 0.6910, 0.7025 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 65.

Categories
NZDCAD

NZDCAD Weekly Forex Forecast 11th November to 17th November

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NZDCAD Weekly Forex Forecast 11th November to 17th November by yshashmi37 on TradingView.com

Midterm forecast:

0.8640 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 0.8640 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) 0.8920, 0.9000, 0.9060 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 76.

Categories
GBPUSD

GBPUSD Weekly Forex Forecast 10th November to 16th November

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GBPUSD Weekly Forex Forecast 10th November to 16th November 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 downtrend #1 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.
A peak is formed in daily chart at 1.3175 on 11/07/2018, so more losses to support(s) 1.2920, 1.2775 and minimum to Major Support (1.2660) 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 48.