Month: December 2018

Categories
EURUSD

EURUSD Weekly Forex Forecast 1st December to 7th December

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EURUSD Weekly Forex Forecast 1st December to 7th 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.
While the RSI resistance #3 at 62 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 1.1400 on 11/29/2018, so more losses to support(s) 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
EURJPY

EURJPY Weekly Forex Forecast 2nd December to 8th December

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EURJPY Weekly Forex Forecast 2nd December to 8th 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 trough is formed in daily chart at 127.50 on 11/13/2018, so more gains to resistance(s) 129.10 and maximum to Major Resistance (130.15) 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 47.

Categories
USDJPY

USDJPY Weekly Forex Forecast 2nd December to 8th December

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USDJPY Weekly Forex Forecast 2nd December to 8th 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 above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 55.

Categories
BRENT

BRENT Weekly Forex Forecast 2nd December to 8th December

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BRENT Weekly Forex Forecast 2nd December to 6th 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:

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 26.

Categories
XAGUSD

XAGUSD Weekly Forex Forecast 2nd December to 8th December

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XAGUSD Weekly Forex Forecast 2nd December to 6th 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 45.

Categories
XAUUSD

XAUUSD Weekly Forex Forecast 2nd December to 8th December

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XAUUSD Weekly Forex Forecast 2nd December to 6th 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 52.

Categories
AUDCAD

AUDCAD Weekly Forex Forecast 1st December to 7th December

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AUDCAD Weekly Forex Forecast 1st December to 7th December by yshashmi37 on TradingView.com

Midterm forecast:

The current trend is uptrend and the forecast is continuation of uptrend.
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) 0.9810, 0.9935, 1.0245 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 71.