Weekly Forex Forecast for AUDUSD, GBPJPY, GBPCHF, XAUUSD (01-06 November 2020)
Weekly Forex Forecast for AUDUSD, GBPJPY, GBPCHF, XAUUSD (01-06 November 2020)
Hey everyone! Welcome to this week's forex forecast for the week ending November 6th, 2020. I'm TraderBart with A1 Trading, and this week I'll be looking at AUDUSD, GBPJPY, GBPCHF & XAUUSD.
Price has formed a descending triangle pattern, with support at 0.702, which back in June, this same level was seen as resistance. Price is currently at that support level; if we see a break of this support, I will be looking out for a retest of the 0.702 level, followed by price action confirmations of a continued rejection before going short on this pair with a target to lower support levels at 0.68.
GBPJPY
This pair has been on my watchlist for a while now as price has been moving in this ascending channel forming higher highs and higher lows. Price is back at the channel support and currently showing rejection with price action closing off the week with a hammer candle at the trend line, looking to catch a move above previous highs at 143.000.
GBPCHF
Bullish flag pattern visible on this pair, I already went long at 1.174 at the channel's support, which reached 170 pips profit before being closed at the modified stop loss. Price is currently near the channel's resistance once again, and I would look to possibly re-enter once price breaks out and shows successive rejections to the channel for a completed pattern move.
XAUUSD
Price currently forming a descending triangle pattern with support at 1860.00. Price is currently nearing the support level, I will be looking out for a clear break and retest of that support level, treating it as new resistance, with price action confirmation of a continued bearish move. With the elections coming up, this setup could easily become invalid and there will definitely be a lot of volatility coming up. If this setup stays valid, I will look for targets at previous monthly horizontal levels at 1760.00.
Weekly Forex Forecast for GBPUSD, GBPCAD, EURJPY, XAUUSD (22-26 February 2021) Hey everyone! Welcome to this week's forex forecast for the week ending January 29th, 2021. I'm TraderBart with A1 Trading, and this week I'll be looking at GBPUSD, GBPCAD, EURJPY & XAUUSD. Psst! It is my birthday tomorrow on the 22nd, so I have […]
Should You Do The FTMO Challenge? There are many traders out there that believe they have what it takes and the skill to be a successful trader, except for the fact that they do not have enough capital to trade big time. There are companies out there that offer to fund traders and take percentages […]
Weekly Forex Forecast for USDJPY, GBPNZD, EURJPY, XAUUSD (15-19 February 2021) Hey everyone! Welcome to this week's forex forecast for the week ending January 29th, 2021. I'm TraderBart with A1 Trading, and this week I'll be looking at USDJPY, GBPNZD, EURJPY & XAUUSD. USDJPY Price has recently broken out of this long-term descending channel and […]
Politics preventing new financial stimulus The economic recovery in the major global economic powers depends on several important factors. One of the most vital part, the spread of the virus and the government's answers to it. With a decrease in daily cases of COVID-19 to 50,000 in the U.S.A. Yet U.S. A remains the most […]
Our team has unfortunately received many reports of scammers using our content and pretending to be us. While we will continue to report these accounts to the authorities as we receive reports, we may not always catch them in time. Below our a list of things to look out for before making a purchase to any […]
Warren Buffett is one of the most idolised, investors in the world. At the time of writing , his company, Berkshire Hathaway, has a market cap of $495 billion and Buffett himself has a net worth of $79 billion. His approach to value investing, combined with his influence over the companies he invests in , […]