A1 Trading Company

Ticker tape by TradingView

June 27, 2021

Weekly Forex Forecast for NZDCHF, EURCHF, GBPAUD, XAUUSD (27-02 July 2021)

Bart Kurek

Hey everyone! Welcome to this week's forex forecast for the week ending July 2nd, 2021. I'm TraderBart with A1 Trading, and this week I'll be looking at NZDCHF, EURCHF, GBPAUD & XAUUSD.

NZD/CHF

Price is staying just below the channel's top at 0.648 and is already showing some rejection to this zone. We could likely see a channel continuation, and price could head towards the bottom. However, look out for price action confirmations before taking any positions. If we see price break the previous day's low at 0.645, we could likely see price head lower. If we see price continue to range at this level without breaking the low, we could see price break the channel and complete the bullish flag pattern.

EUR/CHF

Similarly to nzdchf, price is also below the channel's top at 1.096, showing rejection to the upside. We've got a level of potential support at 1.093 which we can see has been broken recently. If this same level gets broken once again, we will likely see price continue the channel and head towards the bottom. If we do see price head higher and break the channel, look out for a retracement of the channel's top before going long to catch the bullish flag pattern.

GBP/AUD

Price is now back at the bullish breaker block (previous bearish order block), which I have been pointing out and is now looking like a possible good zone to go long off. Price could head towards the 50% level before reversing, however, if we see price slow down and not break this zone, it is likely we will see this move happen.

XAU/USD

Price is forming a triangle pattern just above the 1765 key horizontal level. We could likely see retailers going long; however, I expect banks to take out their stop losses and head towards the bullish order block at 1740 before reversing. This level is where most banks are placing their orders, only after retailers are taken out, and the majority's bias switches to short.

A1 Edgefinder

#1 Market Scanner Tool
Take 10% off using code "READER"
GET ACCESS NOW
Want to See Our Trades?

Join The VIP Community!

Our entries, exits & analysis
Live Webinar Coaching
Trading Chatrooms
Strategy Library 
Exclusive Trading Guides
Use Code "READER" for 10% OFF!
JOIN NOWJoin FREE Discord
Listen to More Episodes
Even More Bullish USD News

This morning at 8:30 am Eastern Time, the United States’ Bureau of Economic Analysis released even more bullish USD news. The Core Personal Consumption Expenditures (PCE) Price Index, which measures changes in prices for consumers (excluding volatile food and energy prices), rose more than expected month-over-month. A 0.5% increase was expected for August, with 0.6% […]

Read More
Historic Peril for the Pound

A strange series of events recently sent the United Kingdom’s Pound Sterling tumbling to historic lows. Just weeks after the death of Queen Elizabeth II (a head of state who was uniquely well-liked among the UK’s population by contemporary standards) Kwasi Kwarteng, Britain’s new chancellor in recently appointed Prime Minister Liz Truss’ administration, issued a […]

Read More
Get Ready for the Bear Market

Last week’s selloff was brutal for investors in the US stock market: the Dow Jones Industrial Average closed at its lowest level since late 2020, falling to 29590.41, losing 1.6% on Friday alone. With the S&P 500 currently down a whopping 23% from January’s highs this year, and other indexes close behind percentagewise, stock market […]

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