EURNOK entered a neutral phase and is delimited by an horizontal canal since beginning october. The price is currently fighting with its major resistance, if this resistance is broken, EURNOK will enter a bullish cycle.
USDZAR stopped its bearish phase during august to enter an horizontal canal. Let's observe if the major resistance can be broken this week.
NZDUSD has lost about 300 pips in 3 days and is now testing its support line. If the support is broken, the price can continue to decrease to 0,67 ! If price cannot break the support line it will continue to increase to test again the resistance.
GBPUSD significantly goes outside of its descending triangle. It will now enter a neutral or slow bullish phase. The new support (in dotted red points) is very young and weak, lets see if it will continue to support the price.
USDCHF is currently progressing into an horizontal triangle delimited by its horizontal resistance (in red) and its ascending support (in green). Let's verify is USDCHF will just test its resistance and return back to its support or if it will break the resistance and initiate a strong uptrend.
USDTRY is one of the forex value having the highest volatility today with 450 pips between the open price and its maximum ! Bollinger bands has been hit and RSI demonstrate that USDTRY is overbought. Downtrend back to the support is our scenario.
Exchange volume on gold have been very high today after the election of the new US president. The price has formed a very long candlestick with a very long shadow. In one day Gold tested its resistance directly from the support. The most probable scenario is that gold will continue to follow its ascending support.
USDCAD was very nervous today after the election of Trump, the price drawn a big green candlestick with a long upper shadow but the resistance of the ascending canal haven't been broken. The more probable scenario is a downtrend back to the support line (green)
End of october USDJPY has broken the resistance of its descending canal breaking a downtrend initiated 1 year ago. The USDJPY will now enter in a neutral (horizontal trend) or initiate a strong uptrend. At this time, wait and see...
USDTRY is currently evolving in an ascending canal delimited by its resistance (red) and its support (green). RSI and William%R show that USDTRY is overbuy, it is probable the price will initate a downtrend to its support soon.
AUDUSD evolve since march into a triangle delimited by a major extra strong resistance (in red) and an ascending support line (in green). Now we arrive at the end of the figure which means a new strong uptrend or downtrend will born very soon. It is better to wait and see if the price will break the resistance and initiate the uptrend or break the support and...
Crude Oil is evolving between its support ascending line (in red) and its resistance horizontal line since 6 months. The ascending support has been touched and not break last friday. The most probable scenario is the uptrend to the resistance line. RSI confirm this prediction.
Rebound of $OIL to 52$ is predicted
This week it is probably the last opportunity to sell oil before a major uptrend...
Gold will probably increase and return to its resistance of 1320$
USDJPY is going back to its support line
EURUSD evolve now clearly in a downtrend canal, it will probably hit its descending support before to initiate an uptrend to its resistance. Shot then for the next 2 or 3 days and then lets analyze to confirm the uptrend.
After having hit the upper resistance USDCAD will return back to its support line