Month: December 2018

Categories
WTI

WTI Weekly Forex Forecast 10th December to 16th December

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

Midterm forecast:

The current trend is downtrend but the forecast is beginning of uptrend.
Technical analysis:

While the RSI resistance #1 at 50 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 54.65 on 12/04/2018, so more losses minimum to Trend Hunter Buy Zone (51.30 to 49.50) 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 39.

Categories
BRENT

BRENT Weekly Forex Forecast 10th December to 16th December

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

Midterm forecast:

68.85 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 68.85 is broken.
Technical analysis:

While the RSI resistance #1 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 40.

Categories
XAGUSD

XAGUSD Weekly Forex Forecast 10th December to 16th December

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XAGUSD Weekly Forex Forecast 10th December to 16th 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.
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 support against more losses.
Relative strength index (RSI) is 55.

Categories
XAUUSD

XAUUSD Weekly Forex Forecast 10th December to 16th December

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XAUUSD 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 1183.15 would begin in Midterm.
Technical analysis:

The RSI bounced from the support #1 at 38 and it prevented price from more losses.
While the RSI uptrend #2 is not broken, bullish 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 65.

Categories
USDJPY

USDJPY Weekly Forex Forecast 10th December to 16th December

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

Midterm forecast:

While the price is below the resistance 114.70, beginning of downtrend is expected.
We make sure when the support at 111.60 breaks.
If the resistance at 114.70 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 below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 44.

Categories
GBPJPY

GBPJPY Weekly Forex Forecast 10th December to 16th December

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GBPJPY Weekly Forex Forecast 10th December to 16th December 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 149.50 breaks.
If the support at 142.75 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 145.95 on 11/22/2018, so more losses 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 40.

Categories
EURJPY

EURJPY Weekly Forex Forecast 10th December to 16th December

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

Midterm forecast:

While the price is above the support 124.60, beginning of uptrend is expected.
We make sure when the resistance at 130.15 breaks.
If the support at 124.60 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg lower if price breaks and closes below the uptrend line of the triangle.
While the RSI resistance #1 at 54 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 129.31 on 11/29/2018, so more losses to support(s) 127.50, 126.65, 125.55 and minimum to Major Support (124.60) 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 50.

Categories
EURUSD

EURUSD Weekly Forex Forecast 10th December to 16th December

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EURUSD Weekly Forex Forecast 10th December to 16th December 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 1.1305 on 11/30/2018, so more gains to resistance(s) 1.1430 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 50.

Categories
USDTRY

USDTRY Weekly Forex Forecast 2nd December to 8th December

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USDTRY Weekly Forex Forecast 2nd December to 8th 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.
We will close our open trades, if the Midterm level 5.0000 is broken.
Technical analysis:

The RSI bounced from the support #1 at 28 and it prevented price from more losses.
While the RSI resistance #2 at 41 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 34.

Categories
USDCHF

USDCHF Weekly Forex Forecast 2nd December to 8th December

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USDCHF Weekly Forex Forecast 2nd December to 8th 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 1.0100 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 1.0005 on 11/28/2018, so more losses to support(s) 0.9985, 0.9865, 0.9815 and more depths 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.