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Currency Rates Forecast – Analysis of Forex Trends

currency rates forecast
Forex Trends – Currency Rates Forecast: week 10/7/12 – 10/12/12

Currency rates forecast (weekly) – an overview of the forex trends for the past week with likely developments for the next week.

Updated 10/09/12
EUR/USD: Range-bound conditions with no clear trend.

The last week’s EUR/USD action can be a poster child of why risk management of each trade is so important. Analysis of the technical indicators was suggesting the pair was in a mild downtrend yet it managed to gain about 250 pips. It retracted a bit from it’s 2-week high of 1.3070. At this point our analysis shows that on a longer timeframe this mild downtrend is ending.

The “bigger picture” is neutral at this time with no clear trend. This means the chances are we will see a sideways price action. So it is better to cover (as it is in many cases) your position. Learn here how to hedge your forex spot position.

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Analysis suggests a possibility of unstable volatility for the next week.

Per our analysis range between 1.2800 and 1.3100 is likely for this week – oversold condition below 1.2850 and overbought above 1.3050.

In present conditions common indicators may not be very accurate in pointing to the direction of the price on shorter charts.

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GBP/USD: Downtrend with a possible rally.
The pair finished the last week virtually flat. 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 but RSI is fairly low. It means chances are a rally is likely during next week. Based on our analysis a range between 1.6150 and 1.5900 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 not very strong at this time.

Currency rates forecast for GBP/USD Updated 10/08/12

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USD/CHF: Weak uptrend.
The pair lost about 140 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 is likely for the next week. Based on the analysis for the next week the price likely to stay within 0.9300 – 0.9450 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 0.9700 – 0.9850 for the next week. The longer outlook is neutral at this time.


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