Weekly Forex techincal forecast November 23-27

EUR / USD

The euro against the dollar is still developing in an uptrend, however, last week the price was on the right side of the trend line, which indicates the possibility of a correction. We pay attention to indicators that are close to neutral values ​​and indicate, at least, about the absence in the current market situation. Now there is a correction for the subsequent movement. The price chart gives reason to consider options for trading a fall, since the market is near an important level and a “engulfing” pattern has formed on the last candles. Therefore, we consider trading down, but taking into account that we are working against the trend.

analytics EUR / USD for November 23-27
parsing EUR / USD by moving averages, RSI and MACD

 

GBP / USD

The British pound is forming an uptrend against the US dollar, and quite strong. The last week led to a situation of stagnation in the movement, which is very well traced by the indicators, which literally stuck to zero. Based on the trend line and level 1.3294, you can build a graphical triangle figure. The price is very close to the top of this figure, which means, together with the indicators' indicators, it prohibits trading here and now. We are waiting in which direction the market will break through the triangle and in this direction you can open a contract.

analytics GBP / USD for November 23-27
parsing GBP / USD by moving averages, RSI and MACD

 

USD / JPY

The past week led to a rather strong fall of the US dollar against the Japanese yen. As a result, the price turned out to be below the level of the moving averages and again dropped into the borders of the descending channel. Moreover, the lower edge of this channel was reached, which is confirmed by all indicators as an extreme point, after which a reversal may follow. Of the indicators, first of all, we pay attention to the histogram, which tests the minimum for itself. This minimum cannot be broken by the market for a long time. Thus, there is every reason to trade bullish.

USD / JPY analytics for November 23-27
 parsing USD / JPY by moving averages, RSI and MACD

 

AUD / USD

The correction of the uptrend led to the fact that the price of the Australian dollar against the American one was squeezed inside a rather narrow side corridor with the boundaries of 0.7265 and 0.7327. The sideways correction is confirmed by indicators that are close to zero at the current stage and show sideways dynamics. Therefore, we can say that while the price is within this corridor, you cannot trade. In the future we will wait in which direction the market will break through this corridor and trade in the direction of this breakdown.

analytics AUD / USD for November 23-27
 parsing AUD / USD by moving averages, RSI and MACD

 

USD / CAD

The main distinguishing feature of the development of the US dollar against the Canadian dollar last week is low volatility. If we consider candlestick patterns, then the market most often forms candles with a fairly short body and long shadows. As in other currency pairs, we draw your attention to the fact that the indicators are close to zero values ​​and show sideways dynamics. The local trend of the current movement is downward, therefore, we can only consider options for trading for a fall, especially since this trade has potential. It will be minimal with a target at 1.3012.

USD / CAD analytics for November 23-27
parsing USD / CAD by moving averages, RSI and MACD

USD / CHF

After rather volatile trades of the previous weeks, the price of the US dollar against the Swiss franc has moved into a stage where the main trades are taking place close to the level of moving averages. Once again, we state that the indicator does not give any signals for trading, since it is at neutral indicators. Given the neutral position of the price, it is extremely dangerous to trade this currency pair for the coming week. In case of a downward movement and the price fixing below the level of 0.9061, one can trade for a fall.

USD / CHF analytics for November 23-27
parsing USD / CHF by moving averages, RSI and MACD

USD / RUB

The US dollar continues to slightly lose its positions against the Russian ruble. In general, the trend is downward, which can be clearly seen in the indicators that are in the negative area. The most important characteristic of this currency pair is price divergence with all the main indicators. If you look at the price chart, the market continues to fall and renew local minimums. If at the same time you look at the indicators, even despite the fact that they are in the negative area, there are no local minimums, which means you can trade up.

USD / RUB analytics for November 23-27
 parsing USD / RUB by moving averages, RSI and MACD

 

Gold

The price of gold continues to recover from the turmoil of the previous weeks, when the price of the precious metal has dropped dramatically. In fact, we are now talking about the fact that the market is in the stage of a sideways correction, but there is a very important nuance. - the correction is sideways at the level of 1856.164. That is, the correction goes horizontally, but if you look at the indicators, they look up, which means there is an atypical divergence. At the same time, I recently tested the oversold area. Thus, there is every reason to consider the possibility of trading up.

Gold analytics for November 23-27
parsing Gold by moving averages, RSI and MACD
See also:
Добавить комментарий

Оставить комментарий