A1 Trading Company

Ticker tape by TradingView

July 25, 2021

Weekly Forex Forecast for USDJPY, EURAUD, NZDCHF, XAUUSD (25-30 July 2021)

Bart Kurek

Hey everyone! Welcome to this week's forex forecast for the week ending July 30th, 2021. I'm TraderBart with A1 Trading, and this week I'll be looking at USDJPY, EURAUD, NZDCHF & XAUUSD.

USD/JPY

Price has recently broken out of the ascending channel, and we've already seen a retest and the impulsive move to the downside. However, we're once again seeing price approach the channel's bottom and nearing short-term resistance at 110.6. Look out in the week ahead for price to either break through this level, where it will likely continue travelling inside the channel. However, if we see price fail to break this level and instead reject, we could likely see a new trend form to the downside as this could potentially be the next lower high.

EUR/AUD

Price has closed off for the week touching and retracing the channel's bottom. Now that price has broken out of the consolidation phase following the ascending channel break, it's likely we could see this ascending channel continue as price heads to new highs to complete the long-term ascending channel pattern. We may get a much clearer touch of the channel's bottom before this move happens, so look out for proper touches and rejections before going long on this pair.

NZD/CHF

Price is now touching the descending channel's bottom and is already showing rejection to this level. If price continues to fail to break above, this could be a good position to go short. However, this may not be the best idea as looking overall and long-term, price is actually travelling in a bullish flag pattern, and we're currently in the flag, the position right before the impulsive upside move of the chart pattern. If we see price break above the channel, we'll likely see price head higher and complete the chart pattern.

XAU/USD

Price is consolidating above the descending channel's top and is currently waiting on some sort of catalyst to make the next month. If price continues to stay above the channel, we will likely see price be bullish and travel higher towards the Liquidity Void at around 1900. However, if price closes back inside the channel, we'll likely see a retest of the bullish OB at around 1750.

A1 Edgefinder

Smart Money Tracker
See where big money is flowing with the A1 Edgefinder's smart money tracker! With one click, see where the biggest money flows are entering and exiting through COT data.

10% off code: 'READER'

GET ACCESS NOW

VIP discord

Trade Alerts, Strategies, Chatrooms & more!

10% off code: 'READER'

LEARN MORE
What To Expect From Today's FOMC

Today at 2:00 pm EST, the Fed will announce their latest interest rate decision. Estimates suggest a smaller hike of 25 basis points this time around. Here are some things to consider before the FOMC decision later today: The Fed has struggled to tighten their grip on inflation without causing too much disturbance in the […]

Read More
The Art of Not Trading

With the holiday season lingering on and a new year on the cusp of arrival, traders may glance at the calendar and notice there is not much economic news to anticipate on Friday to cap off a light week. In situations like these where there can be lulls in bullish and bearish momentum due to […]

Read More
Best Currency to Buy?

As the fiscal year comes to a close, consumers will likely finish shopping for the holidays, and traders and investors will get some respite thanks to a long weekend due to bank holidays around the world. While concerns about further stock market selloffs may be lingering in the minds of some, a promising set of […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
VIP
Menu
homesmartphonelaptopmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram