Currency Rates Forecast – Analysis of Forex Trends
Forex Trends – Currency Rates Forecast: (update 1/10)
All future forecasts for the members only.
EUR/USD: What came down will likely go up.
The pair lost 300 pips and penetrated 1.3000 level by the end of the last week. Fundamentally – classical risk appetite will likely to drag the dollar down against the other majors. Analysis of the technical indicators is suggesting
the pair was in a mild downtrend. At this point our analysis shows that on a longer timeframe this mild downtrend is ending and a powerful rally is very likely.
The “bigger picture” is neutral at this time with no clear trend but a strong rally is very likely during the incoming week. This means the chances are we will see the last week’s losses erased. It is better to cover (as it is in many cases) your position. Learn here how to hedge your forex spot position here.
Analysis suggests a possibility of unstable volatility for the next week.
Per our analysis range between 1.3000 and 1.3300 is likely for this week.
In present conditions common indicators may be fairly very accurate in pointing to the direction of the price on shorter charts.
GBP/USD: Downtrend with a possible rally.
The pair lost about 250 pips during the last week. Our analysis of technical indicators suggests modest downtrend conditions on a longer frame. The downtrend presently is not very strong. The similar picture can be observed on a shorter frame. It means chances are a strong rally is likely during the next week. Based on our analysis a range between 1.6000 and 1.6200 is likely for the next week. Same pattern of unstable volatility will likely continue next week. The longer picture is mildly bearish and the downtrend is very weak at this time.
USD/CHF: Very weak uptrend.
The pair gained about 180 pips during the last week. Our analysis of the indicators point to a very weak uptrend on a longer frame. Similar picture can be observed on a shorter frame. It means that a sideways price action with a dip is likely for the next week. Based on the analysis for the next week the price likely to stay within 0.9100 – 0.9300 range, and unlikely to deviate very far from these levels. The longer outlook is neutral at this time.
USD/CAD: Uptrend is ending.
Our analysis reveals that the recent uptrend is ending on a longer frame. It means the chances are we will see side-ways price action during the next week. It likely will stay within 0.9800 – 0.9900 for the next week. The longer outlook is neutral at this time.
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