Category: NZDUSD

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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.

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NZDUSD Weekly Forex Forecast 1st December to 7th 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:

The RSI resistance #1 at 59 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 0.6705 on 11/13/2018, so more gains to resistance(s) 0.6910, 0.7025, 0.7175 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.

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NZDUSD Weekly Forex Forecast 18th November to 24th 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:

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 0.6705 on 11/13/2018, so more gains to resistance(s) 0.6910, 0.7025, 0.7175 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 73.

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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.

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NZDUSD Weekly Forex Forecast 4th November to 10th November by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 0.6430, beginning of uptrend is expected.
We make sure when the resistance at 0.6690 breaks.
If the support at 0.6430 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 0.6544 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 beginning of uptrend is increased.
The RSI resistance #1 at 59 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 0.6465 on 10/26/2018, so more gains maximum to Major Resistance (0.6690) 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.

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NZDUSD Weekly Forex Forecast 28th October to 3rd November by yshashmi37 on TradingView.com

Midterm forecast:

0.6620 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 0.6620 is broken.
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 beginning of uptrend is increased.
While the RSI resistance #1 at 59 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 0.6610 on 10/22/2018, so more losses to support(s) 0.6500, 0.6430, 0.6245 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 45.

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NZDUSD Weekly Forex Forecast 22nd October to 28th October by yshashmi37 on TradingView.com

Midterm forecast:

0.6700 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 0.6700 is broken.
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 beginning the correction wave is increased.
While the RSI resistance #1 at 59 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 0.6425 on 10/08/2018, so more gains to resistance(s) 0.6620 and maximum to Major Resistance (0.6700) 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 54.

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NZDUSD Weekly Forex Forecast 6th October to 12th October by yshashmi37 on TradingView.com

Midterm forecast:

0.6700 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 0.6700 is broken.
Technical analysis:

While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 0.6700 on 09/21/2018, so more losses to support(s) 0.6430, 0.6245, 0.5930 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 29.

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NZDCAD Weekly Forex Forecast 30 September to 6th October by yshashmi37 on TradingView.com

Midterm forecast:

While the price is below the resistance 0.8735, resumption of downtrend is expected.
We make sure when the support at 0.8495 breaks.
If the resistance at 0.8735 is broken, the short-term forecast -resumption of downtrend- will be invalid.
We will close our open trades, if the Midterm level 0.8735 is broken.
Technical analysis:

There is a divergence in RSI and price between the trough at 0.8561 on 2018-08-15 and the trough at 0.8494 on 2018-09-12, the probability of downtrend continuation is decreased and the probability of beginning the correction wave is increased.
The RSI bounced from the downtrend #1 and it prevented price from more gains.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 41.

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NZDUSD Weekly Forex Forecast 24th September To 28th September 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 0.6720 would begin in Midterm.
We will close our open trades, if the Midterm level 0.6720 is broken.
Technical analysis:

There is a divergence in RSI and price between the trough at 0.6544 on 2018-08-15 and the trough at 0.65005 on 2018-09-11, 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 0.6500 on 09/11/2018, so more gains maximum to Major Resistance (0.6720) 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 59.