Month: December 2018

Categories
USDCHF

USDCHF Weekly Forex Forecast 10th December to 16th December

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USDCHF Weekly Forex Forecast 10th December to 16th 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 a downtrend wave below 1.0130 would begin in Midterm.
Technical analysis:

The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
While the RSI resistance #2 at 51 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 1.0005 on 12/05/2018, so more losses to support(s) 0.9865, 0.9815, 0.9755 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 37.

Categories
USDTRY

USDTRY Weekly Forex Forecast 10th December to 16th December

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USDTRY Weekly Forex Forecast 10th December to 16th 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 5.0000 would begin in Midterm.
Technical analysis:

The RSI bounced from the support #1 at 28 and it prevented price from more losses.
The RSI resistance #2 at 41 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 43.

Categories
USDCAD

USDCAD Weekly Forex Forecast 10th December to 16th December

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USDCAD Weekly Forex Forecast 10th December to 16th December by yshashmi37 on TradingView.com

Midterm forecast:

While the price is below the resistance 1.3440, beginning of downtrend is expected.
We make sure when the support at 1.3180 breaks.
If the resistance at 1.3440 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:

While the RSI support #1 at 51 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 1.3445 on 12/06/2018, so more losses to support(s) 1.3265, 1.3225 and minimum to Major Support (1.3180) 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 57.

Categories
NZDUSD

NZDUSD Weekly Forex Forecast 10th December to 16th December

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NZDUSD Weekly Forex Forecast 10th December to 16th December 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 0.6883 on 2018-11-16 and the trough at 0.6969 on 2018-12-04, the probability of downtrend continuation is decreased and the probability of continuation of uptrend is increased.
While the RSI support #1 at 55 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 0.6970 on 12/04/2018, so more losses to support(s) 0.6800, 0.6765, 0.6700 and minimum to Major Support (0.6430) 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 61.

Categories
GBPUSD

GBPUSD Weekly Forex Forecast 10th December to 16th December

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GBPUSD Weekly Forex Forecast 10th December to 16th December 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 1.2920 breaks.
If the support at 1.2660 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 1.2725 on 11/15/2018, so more losses 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 42.

Categories
GBPNZD

GBPNZD Weekly Forex Forecast 10th December to 16th December

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GBPNZD Weekly Forex Forecast 10th December to 16th December by yshashmi37 on TradingView.com

Midterm forecast:

1.8930 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 1.8930 is broken.
Technical analysis:

There is a divergence in RSI and price between the trough at 1.86195 on 2018-11-16 and the trough at 1.82755 on 2018-12-04, the probability of downtrend continuation is decreased and the probability of beginning the correction wave is increased.
While the RSI resistance #1 at 49 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 1.8630 on 12/06/2018, so more losses to support(s) 1.8275, 1.7900, 1.7440 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 34.

Categories
GBPCHF

GBPCHF Weekly Forex Forecast 10th December to 16th December

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GBPCHF Weekly Forex Forecast 10th December to 16th December by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 1.2470, beginning of uptrend is expected.
We make sure when the resistance at 1.2685 breaks.
If the support at 1.2470 is broken, the short-term forecast -beginning of uptrend- 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 1.2835 on 11/22/2018, so more losses minimum to Major Support (1.2470) 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 32.

Categories
GBPCAD

GBPCAD Weekly Forex Forecast 10th December to 16th December

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GBPCAD Weekly Forex Forecast 10th December to 16th December by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 1.6595, beginning of uptrend is expected.
We make sure when the resistance at 1.7285 breaks.
If the support at 1.6595 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

The RSI bounced from the resistance #1 at 62 and it prevented price from more gains.
A peak is formed in daily chart at 1.7172 on 12/06/2018, so more losses to support(s) 1.6825 and minimum to Major Support (1.6595) 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 49.

Categories
GBPAUD

GBPAUD Weekly Forex Forecast 10th December to 16th December

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GBPAUD Weekly Forex Forecast 10th December to 16th 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 a downtrend wave below 1.7800 would begin in Midterm.
We will close our open trades, if the Midterm level 1.7800 is broken.
Technical analysis:

There is a divergence in RSI and price between the trough at 1.7474 on 2018-11-16 and the trough at 1.72075 on 2018-12-03, and the probability of beginning of downtrend is decreased.
While the RSI resistance #1 at 50 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 1.7210 on 12/03/2018, so more gains to resistance(s) 1.7650 and maximum to Major Resistance (1.7800) 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 46.

Categories
EURGBP

EURGBP Weekly Forex Forecast 10th December to 16th December

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EURGBP Weekly Forex Forecast 10th December to 16th December by yshashmi37 on TradingView.com

Midterm forecast:

While the price is below the resistance 0.9150, beginning of downtrend is expected.
We make sure when the support at 0.8850 breaks.
If the resistance at 0.9150 is broken, the short-term forecast -beginning of downtrend- 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, and the probability of beginning of downtrend is decreased.
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 trough is formed in daily chart at 0.8810 on 11/28/2018, so more gains to resistance(s) 0.9005, 0.9050, 0.9100 and maximum to Major Resistance (0.9150) 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 66.