Hey everyone! Welcome to this weeks forex forecast for the week ending October 9th, 2020. I'm TraderBart with A1 Trading, and this week I'll be looking at GBPAUD, NZDUSD, GBPCHF & XAUUSD.
Price has formed an ascending triangle pattern on this pair and currently near the resistance level at 1.828. Waiting for price to either reach the trend line, showing successive rejections and then go long OR looking for price to breakout from the resistance, retest that same resistance level, treating it as support, and then going long for a completed pattern move.
Bearish flag pattern visible on this pair. We could still see a third touch of the resistive trendline in the channel, which would also meet the 61.8 and possibly the 71.0 fib retracement level. Once we see successive rejections in that zone, only then I would possibly go short. However, we could see price breakout right away without the third touch; if we see price break out of this channel to the downside, I would wait for a retest and then a rejection before going short.
Bullish flag pattern formed on this pair, currently seeing price bouncing around the same levels and consolidating. Looking to go long once we see price reach and reject the channel's support at 1.175 for a completed pattern move.
Price has formed a symmetrical triangle pattern on this pair and is now nearing the pattern's apex point, suggesting we could see this pattern break this week. As always, wait for price to breakout and then retest the trendline, showing successive continued rejection before taking the desired position. With all US news coming up over the next couple of weeks, predicting the direction could be dangerous; that is why you should watch out for explicit price action confirmations before taking any positions on this pair.
Weekly Forex Forecast for GBPAUD, NZDUSD, GBPCHF, XAUUSD (18-23 October 2020) Hey everyone! Welcome to this weeks forex forecast for the week ending October 9th, 2020. I'm TraderBart with A1 Trading, and this week I'll be looking at GBPAUD, NZDUSD, GBPCHF & XAUUSD. GBP/AUD Price has formed an ascending triangle pattern on this pair and […]
Weekly Forex Forecast for USDCHF, GBPUSD, EURGBP, XAUUSD (04-09 October 2020) Hey everyone! Welcome to this weeks forex forecast for the week ending October 9th, 2020. I'm TraderBart with A1 Trading, and this week I'll be looking at USDCHF, GBPUSD, EURGBP & XAUUSD. USD/CHF Two weeks ago, we saw price form the symmetrical triangle pattern, […]
Late last night, news came out that President Trump tested positive for COVID. He began taking quarantine measures immediately, and soon after, futures tumbled by over 1% in a matter of minutes. Today's choppiness tells us something about what direction the market will head in the short term. The best way to prepare for what […]
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 , […]
