Weekly Forex technical forecast July 13-17

Analysis of the Forex market for the coming week July 13-17 will consider the main opportunities for practical trading in the coming week key underlying assets.

EUR/USD


For several weeks, the euro against the dollar has been showing a market segment with low volatility. This can be traced by indicators that are close to neutral values. If you look at the price chart, the current key price level is 1.1347. It limits the price from above, and from below the market is limited by an uptrend line, which is almost the same as the levels of moving averages. As a result an unusual triangle is formed. As long as the price is inside this pattern, it is impossible to trade. As soon as the market breaks this pattern up or down, it will be possible to trade in the direction of breakage.

Weekly Forex technical forecast July 13-17

GBP/USD


The last week led to a significant growth of the British pound against the American dollar. This can be traced not only by the price chart, but also by all indicators. An important characteristic of the current market segment is that the price has reached the level of 1.2667 and rolled back down. At the same level, the indicators have reached their maximum values and rolled back down as well. The only thing that can be said in this situation is that as soon as the price reaches the level of moving averages an upward movement can be expected.

Weekly Forex technical forecast July 13-17

USD/JPY


The dollar is going down against the Japanese yen. This can be seen particularly well on the histogram, which is the first time in a long time that it has fallen below zero and continues updating local lows. If you look at the oscillators, they are close to neutral, but the recent moves have led to the oversold area. The current market segment is characterized by the key mark at 106.710 . One can expect the price to reach this level. In the direction of movement from this level it is possible to conclude a deal.

Weekly Forex technical forecast July 13-17

AUD/USD


The Australian dollar against the American dollar is still characterized by a stage of sideways movement within an ascending trend. At the same time, the last weeks allow to speak about the absence of volatility and the absence of a clear movement. It can be traced especially clearly by the histogram, which cannot break away from zero level for a long time. Once again, we can say that it is dangerous to trade this currency pair, because the volatility is minimal and the price movement is subject to chance. However, now the price is close to the level of 0.9622. Therefore, we can expect that from this level there will be a reversal, which means that you can open an upward contract.

Weekly Forex technical forecast July 13-17

USD/CAD


The current market segment for the dollar against the Canadian dollar is characterized by excessive humidity level 1.3518. Recently, the market has tested this level at least four times, after which it went upward. In recent hours, the market has again tested this level and strongly rolled back upwards. Thus, we can say that we are in a market segment where there is no apparent volatility and no apparent trend. We can expect the price to return to the specified level again and only after that to open an upward contract.

Weekly Forex technical forecast July 13-17

USD/CHF


This asset is another one for which the volatility has been reduced and there is no obvious trend. This can be well traced by indicators that cannot form a strong movement in either direction. If we look at the price only, then all of the above can be traced a downtrend. This part of the market is also below the level of moving averages. In this case, the last two candlesticks have attempted to consolidate above the level of 0.9427.

Weekly Forex technical forecast July 13-17

USD/RUB


The dollar vs. the Russian ruble is still developing in the upward direction. At the same time, if we compare the price chart and indicators, we can see the divergence. The price chart does not give a specific signal for trading, but the histogram gives such signals. Therefore, in the upcoming week you can completely break away from the price chart and focus on the histogram. It is close to zero values. We are waiting in which direction from the zero level the indicator will start its movement. As soon as the movement in one of the sides gathers strength, we can trade in the direction of this movement.

Weekly Forex technical forecast July 13-17

Gold


Gold continues its development within an upward trend. Despite the fact that the market has reduced its volatility, upward movement is still dominating. Characteristically, an uptrend is fully consistent with a similar upward movement on the oscillator. At the same time, if you look at the histogram, you can see the divergence on it. Thus, one can expect a downward correction movement. However, the contract can be opened only if the price fixes below the trend level.

Weekly Forex technical forecast July 13-17
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