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Weeklyforecast

A second Chance to Buy in AUDNZDMidterm forecast: While the price is above the support 1.0660, resumption of uptrend is expected. We make sure when the resistance at 1.0850 breaks. If the support at 1.0660 is broken, the short-term forecast -resumption of uptrend- will be invalid. We will close our open trades, if the Midterm level 1.0660 is broken. Technical analysis: A trough is formed in daily chart at 1.0710 on 11/04/2019, so more gains maximum to Major Resistance (1.0850) 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. New trading suggestion: *There is still a possibility of temporary retracement to suggested support line (1.0660). if so, traders can set orders based on Price Action and expect to reach short-term targets. * If you missed our first HUNT , you have a second chance to buy above the suggested support line (1.0660). Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Trade Setup: We opened 10 BUY trade(s) @ 1.0354 based on 'Hammer' entry method at 2019.08.06. Total Profit: 3595 pip Closed trade(s): 1659 pip Profit Open trade(s): 1936 pip Profit Closed Profit: TP1 @ 1.0430 touched at 2019.08.07 with 76 pip Profit. TP2 @ 1.0490 touched at 2019.08.07 with 136 pip Profit. TP3 @ 1.0585 touched at 2019.08.21 with 231 pip Profit. TP4 @ 1.0660 touched at 2019.08.29 with 306 pip Profit. TP5 @ 1.0760 touched at 2019.09.13 with 406 pip Profit. TP6 @ 1.0990 touched at 2019.10.07 with 504 pip Profit. 76 + 136 + 231 + 306 + 406 + 504 = 1659 pip Open Profit: Profit for one trade is 1.0838(current price) - 1.0354 (open price) = pip 4 trade(s) still open, therefore total profit for open trade(s) is 484 x 4 = 1936 pip All SLs moved to Break-even point. Take Profits: TP7= @ 1.0990 TP8= @ 1.1140 TP9= @ 1.1335 TP10= Free
Long
by ForecastCity
8
There is a possibility for the beginning of an uptrend in AUDSGDMidterm forecast: While the price is above the support 0.9105, beginning of uptrend is expected. We make sure when the resistance at 0.9520 breaks. If the support at 0.9105 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: A trough is formed in daily chart at 0.9270 on 10/24/2019, so more gains to resistance(s) 0.9400, 0.9455 and maximum to Major Resistance (0.9520) 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. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.93200 to 0.92700). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (0.93200) Ending of entry zone (0.92700) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Take Profits: TP1= @ 0.94000 TP2= @ 0.94550 TP3= @ 0.95200 TP4= @ 0.95950 TP5= @ 0.97250 TP6= @ 0.98300 TP7= @ 1.00900 TP8= @ 1.02250 TP9= Free
Long
by ForecastCity
6
There is a possibility for the beginning of an uptrend in AUDSGDMidterm forecast: While the price is above the support 0.9105, beginning of uptrend is expected. We make sure when the resistance at 0.9520 breaks. If the support at 0.9105 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: A trough is formed in daily chart at 0.9270 on 10/24/2019, so more gains to resistance(s) 0.9400, 0.9455 and maximum to Major Resistance (0.9520) 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. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.93200 to 0.92700). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (0.93200) Ending of entry zone (0.92700) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Take Profits: TP1= @ 0.94000 TP2= @ 0.94550 TP3= @ 0.95200 TP4= @ 0.95950 TP5= @ 0.97250 TP6= @ 0.98300 TP7= @ 1.00900 TP8= @ 1.02250 TP9= Free
Long
by ForecastCity
4
EURUSD: Weekly Forecast 4th - 1st NovLast week, EURUSD has put an end to the bearish trend as it kept climbing and reached its previous high. There is not much selling pressure at the current resistance 1.1180 or in fact, there was on last Thursday but did not sustain. There's also an interesting pattern whenever a new high was created at the top of the 40-month falling channel. The first wave brought the price to the top of the zone but it always takes a second wave to push the price to the extreme top of the channel before the start of a strong and long bearish trend. So obviously, this current bullish wave right now is the 2nd wave I'm talking about and this got me to believe that EURUSD will climb further this week and probably stays resisted or come down in the later. But ultimately, what I'm really waiting for is to sell once the 2nd top is formed and confirmed.
by AlgoVenture
EURUSD: Weekly Forecast 28th Oct - 1st NovEURUSD fell last week as it was technically overbought and also due to strong resistance near the top of a 40-month falling channel. As it seems right now, the bearish trend is building up well and there's no real support at the current price, thus the price is most likely to fall further this week. During Draghi's final speech as the ECB President, he had reaffirmed the intention of keeping interest rate low or even lower if need be, and that the bond purchase program is going to relaunch in November. On the other hand, it also seems that the Fed is very likely to cut rate in the upcoming FOMC meeting. In conclusion, the EURUSD is most likely to extend its drop but will find strong support at the 1.10 region, just before and/or after FOMC meeting in the later week.
Short
by AlgoVenture
EURUSD: Weekly Forecast 7th- 11th October 2019EURUSD turned out as expected of my previous forecast as it started to range after the retracement from the new low. The repeating pattern shows that the price is expected to range in the coming week. Traders can look out for a selling opportunity at the top of the range, stop loss placed just above 1.1020. However, the distinct difference between the current pattern and the previous two is that the current one is trading at the bottom of the range. This could mean a potential reversal may take place thus taking partial profit at the demand zone around 1.0920 is highly recommended.
Short
by AlgoVenture
US30: Weekly Forecast 30th Sept - 4th OctChart patterns and timing work hand in hand. Last week, the US30 has been consolidating for the 2nd week while creating lower highs and lower lows. A similar pattern has happened jus about 2 months ago in July as the price rose to a high, consolidated for close to 3 weeks, and fell like a waterfall. Straight to the point, traders can consider selling US30 right now with a stop loss just above the previous high (must be higher than 27000). Profit targets at 26400, 25800 and 24800.
OANDA:US30USDShort
by AlgoVenture
EURUSD: Weekly Forecast 23rd - 27th Sept (Happy Birthday to ME!)Yup, it's exactly the date of my birthday lol! Alright, EURUSD has been trading within a range last week. Although it seems slightly bearish for EURUSD, the fact that it's still staying supported at the bottom of the range says that the price could still climb further. The long-term outlook for EURUSD stays bearish but this coming week could be a short-term bullish one, expecting the price to reach highest 1.1150. Therefore, traders can look to long EURUSD at the bottom of the range from 1.10 onward or just wait patiently for the price to break above 1.11 to look for a short opportunity.
Long
by AlgoVenture
EURUSD: Weekly Forecast 16th - 20th SeptemberThe current bullish wave (major retracement) is probably coming to an end soon. EURUSD has been ranging since early this month after it hit the lowest at 1.092. The price is currently trading at the high of the range and is also about to reach the top (selling zone) of a 39-month falling channel. With that, I think we can keep it simple and sell EURUSD in the middle of the week should it continues to climb and reach the demand zone around 1.1170.
Short
by AlgoVenture
Gold: Weekly Forecast 16th - 20th September"Saturday’s attack on Saudi oil fields knocked out about half that country’s oil production." That's the major news first thing in the morning and we have seen the gold jumped as well as oil, yen, Swiss franc and cad. The gold price was trading within a range since early August and the price has came back to this month low and was well supported at a demand zone. The price was actually at the end of a 3-month rising channel at the bottom. The last daily candle was a bearish one but still showed support and this morning without any sign, the price opened with a gap of 180 pips higher. The Dow Jones has also broken below a rising structure and that supports the gold to climb further. Trading plan for gold? Just buy. The technical setup this morning is favourable enough for the gold. The fundamental movement of the gold hasn't changed either.
FX:XAUUSDLong
by AlgoVenture
EURUSD: Weekly Forecast 26th - 30th AugustEURUSD consolidated for the first 4 trading days last week and finally rebounded off strongly near the previous low on its very first retest. This is pretty much as expected as seen in my last week's forecast as that's just how EURUSD will react based on the previous new lows created. The price is expected to climb again and forms the second bullish wave. This week, wait for the price to retrace towards the immediate demand zone at 1.1115. The retracement should take around 30 pips should the 2nd bullish wave is meant to form.
Long
by AlgoVenture
Gold: Weekly Forecast 26th - 30th AugustCan the gold break new high and evolve into another freakish bullish trend this week? Patterns sometimes do repeat itself and it could happen again in this case. The gold fell to the bottom of a range and continued to consolidate throughout the week as it formed lower highs. Just before Powell's speech last Friday, the gold was seen climbing steadily and jumped all the way to the top of the range, just 45 pips shy from the previous high. This symptom looks exactly just like the jump in 2nd July and the price was seen resisted and pulled back strongly after an attempt to break new high. What's really important is that we do not want to chase the gold long at such price and you do not wanna buy high right? If we do not see the price break and close above the previous high in the first 2 trading days, chances are the price will fall again to the range bottom. Therefore, I am open to an attempt to sell the high, and even if that failed, I know that I've sold at the highest price.
FX:XAUUSDShort
by AlgoVenture
1
Gold: Weekly Forecast 19th - 23rd AugustThe gold has undergone a full week of consolidation after 550 pips plunged from the top of a 3-month rising channel. According to the previous bullish wave, the current wave is very much overbought and the plunge seen on last Monday will most likely cause another bearish wave. In this week, we will wait for the price to retrace higher and look for selling opportunity at the demand zone at 1522. However, the long-term trend stays unchanged and the gold price is projected to reach 1620 by the end of 2019.
FX:XAUUSDShort
by AlgoVenture
HIGHLY Speculative Bearish Butterfly on the WeeklyThis is the first time you will ever see me giving speculation on the market, but this is a very speculative Bearish Butterfly in development on the Weekly Time Frame. First we'd need confirmation of the potential Descending triangle. But how I came up with these targets and patterns is using the same math and patterns that have developed in the 2017 bull run and the current one. But a reoccurring phase or (Shortcut to the Market Cycle) in variables would be in this order, A) Parabolic, B) Blow Off Double Top, C) Descending Triangle, D) Capitulation and then repeat! I worked really hard on this and it's just an extremely speculative idea for now. But how badass would it be if that played out. A Bearish Butterfly on the weekly time scale lol
COINBASE:BTCUSDShort
by ChArtWorks_TechnicalArts
1
Gold: Weekly Forecast 12th - 16th AugustGold rush after gold rush, the gold price has reached beyond 1500 for the first time in 6 years. There's no doubt behind the gold strength and the long-term view shall stay bullish throughout the rest of 2019 as central banks continue to cut rates and ease monetary policies. However, the recent bullish wave has well exceeded the volume of all previous bullish waves and signs of exhaustion can be seen thus significant retracement is expected to take place For short-term selling, only choose to sell at a high from 1504 onwards (a minor supply zone can be seen in the m15 chart), targets at 1492, 1487 and 1470. To buy gold again, the most immediate price is seen at 1487 (just below the current range low), while the best entry is determined at 1470 (key demand zone).
FX:XAUUSD
by AlgoVenture
1
EURUSD: Weekly Forecast 12th - 16th AugustThe EURUSD made one of the strongest bullish runs in more than a month as daily volume surge to a 20-month high from a 27-month low. The price, however, fell into consolidation for the rest of the week as it got resisted by a 2-week supply zone. The US economy continues to show a slowdown and Fed members have been dovish enough as they see more rate cuts are needed in the near future. No doubt that the eurozone is always facing economic slowdown and uncertainties such as Brexit, there' are signs for further technical rebound in the next couple of weeks. In this week, we are expecting that the price will retrace lower during the consolidation phrase before it embarks on another bullish run. Look for buying opportunity from 1.1115 to the demand zone at 1.1110. However, if the price were to retrace too deep and break below 1.1110, the sentiment will turn bearish and EURUSD will once again break new low.
Long
by AlgoVenture
Gold: Weekly Forecast 29th July - 2nd AugustGold formed a bearish weekly candle for the first time after 9 weeks of bullish candles. The gold price has been held back from climbing further by a strengthening dollar and also due to a technical overbought. In the H4 chart, we can see that the gold has just completed the 2nd wave of a bearish trend but came short as compared to the first wave. There isn't any strong selling pressure seen and the bearish move last week is probably just another consolidation before the gold resumes its major bullish trend. This week, we will watch closely for the demand zone right below 1410 as the price is expected to retest the current low since the rebound last Friday wasn't strong. However, traders should watch out closely for FOMC as well as NFP to gauge the dollar strength when trading the gold. If the gold does drop below 1410 and rebound from the demand zone, it would be a good opportunity to build gold long before FOMC.
FX:XAUUSDLong
by AlgoVenture
Dollar: Weekly Forecast 29th July - 2nd AugustThe dollar climbed as expected as euro continues to weaken amid ECB and dollar continues to climb with some better than expected economic data. The dollar is about to complete the 2nd bullish wave after breaking out from a consolidation which has completed 2 waves of retracement. The price is expected to climb a little further and will meet with strong resistance at a 4-month high around 98.4. The key focus for this week is none other than the FOMC where a rate cut of 25 basis point is widely expected. The expectation of a rate cut has already priced in and the market is more focused on the tonation of the Fed in regards to the economic health to look for clues for whether the Fed will continue cut rate further later this year. Another important thing to take note is whether the Fed will unexpectedly cut by 50 basis point instead of just 25 basis point. In this week, the dollar is expected to consolidating upwards before the FOMC. If the FOMC is dovish with its economic condition and/or decides to cut by 50 basis point, the dollar will face a strong resistance near 98.4 and fall towards 97.5 and then 96.7. But if the FOMC shows little clue for another cut in this year and choose to only cut by 25 basis point, the dollar may either break through the 4-month high near 98.4 or maybe it will face some resistance first and pull back towards the demand zone at 97.5 before climbing further, I will be posting another post on trading the FOMC separately.
TVC:DXY
by AlgoVenture