Month: December 2018

Categories
EURNZD

EURNZD Weekly Forex Forecast 10th December to 16th December

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

Midterm forecast:

1.6815 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 1.6815 is broken.
Technical analysis:

There is a divergence in RSI and price between the trough at 1.65555 on 2018-11-15 and the trough at 1.6328 on 2018-12-05, the probability of downtrend continuation is decreased and the probability of beginning the correction wave is increased.
While the RSI resistance #1 at 43 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 1.6325 on 12/05/2018, so more gains maximum to Major Resistance (1.6815) 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
EURCAD

EURCAD Weekly Forex Forecast 10th December to 16th December

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EURCAD 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 beginning of uptrend.
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 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 trough is formed in daily chart at 1.4915 on 12/03/2018, so more gains to resistance(s) 1.5285, 1.5450, 1.5585 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 60.

Categories
EURAUD

EURAUD Weekly Forex Forecast 10th December to 16th December

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c by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 1.5345, beginning of uptrend is expected.
We make sure when the resistance at 1.5885 breaks.
If the support at 1.5345 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 1.5518 on 2018-11-15 and the trough at 1.53455 on 2018-12-03, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
A trough is formed in daily chart at 1.5345 on 12/03/2018, so more gains maximum to Major Resistance (1.5885) 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
CHFJPY

CHFJPY Weekly Forex Forecast 10th December to 16th December

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CHFJPY 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 114.75 would begin in Midterm.
Technical analysis:

The ascending flag taking shape suggests we will soon see another leg higher.
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 56.

Categories
CADCHF

CADCHF Weekly Forex Forecast 10th December to 16th December

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CADCHF 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 0.7570 would begin in Midterm.
Technical analysis:

The RSI bounced from the support #1 at 33 and it prevented price from more losses.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 0.7585 on 12/03/2018, so more losses to support(s) 0.7425, 0.7365, 0.7225 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 36.

Categories
AUDUSD

AUDUSD Weekly Forex Forecast 10th December to 16th December

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

Midterm forecast:

While the price is above the support 0.7020, beginning of uptrend is expected.
We make sure when the resistance at 0.7445 breaks.
If the support at 0.7020 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

The RSI uptrend #1 is broken, so the probability of beginning of uptrend is decreased.
A peak is formed in daily chart at 0.7395 on 12/04/2018, so more losses to support(s) 0.7175, 0.7105, 0.7085 and minimum to Major Support (0.7020) 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
AUDNZD

AUDNZD Weekly Forex Forecast 10th December to 16th December

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

Midterm forecast:

1.0700 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 1.0700 is broken.
Technical analysis:

The ascending flag taking shape suggests we will soon see another leg higher.
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 22.

Categories
AUDJPY

AUDJPY Weekly Forex Forecast 10th December to 16th December

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

Midterm forecast:

While the price is above the support 78.65, beginning of uptrend is expected.
We make sure when the resistance at 83.90 breaks.
If the support at 78.65 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

There is a divergence in RSI and price between the peak at 83.045 on 2018-11-08 and the peak at 83.905 on 2018-12-03, and the probability of beginning of uptrend is decreased.
The RSI uptrend #1 is broken, so the probability of beginning of uptrend is decreased.
A peak is formed in daily chart at 83.90 on 12/03/2018, so more losses to support(s) 81.30, 80.50, 79.60 and minimum to Major Support (78.65) 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 45.

Categories
AUDCHF

AUDCHF Weekly Forex Forecast 10th December to 16th December

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

Midterm forecast:

While the price is above the support 0.7070, continuation of uptrend is expected.
We make sure when the resistance at 0.7285 breaks.
If the support at 0.7070 is broken, the short-term forecast -continuation of uptrend- will be invalid.
Technical analysis:

There is a divergence in RSI and price between the peak at 0.73215 on 2018-11-08 and the peak at 0.73755 on 2018-12-03, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
The RSI support #1 at 48 is broken, so the probability of continuation of uptrend is decreased.
A peak is formed in daily chart at 0.7375 on 12/03/2018, so more losses to support(s) 0.7115 and minimum to Major Support (0.7070) 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 40.

Categories
AUDCAD

AUDCAD Weekly Forex Forecast 10th December to 16th December

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

Midterm forecast:

While the price is above the support 0.9425, continuation of uptrend is expected.
We make sure when the resistance at 0.9775 breaks.
If the support at 0.9425 is broken, the short-term forecast -continuation of uptrend- will be invalid.
Technical analysis:

The RSI resistance #1 at 53 is broken, so the probability of continuation of uptrend is increased.
While the RSI support #2 at 53 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 0.9525 on 11/23/2018, so more gains to resistance(s) 0.9610, 0.9670 and maximum to Major Resistance (0.9775) 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.