Hey everyone! Welcome to this weeks forex forecast for the week ending September 11th, 2020. I'm TraderBart with A1 Trading, and this week I'll be looking at GBPUSD, EURUSD, CADCHF & XAUUSD.
Price moving along nicely on this ascending trend line for a while now, price held support at 1.30 until price met the trend line and broke through resistance at 1.325. We can see price retesting structure and rejecting the trend line, treating the previous resistance as new support. Looking to go long and expecting a continued bullish movement
This market is channeling along nicely here, forming higher highs and higher lows. On Friday, we saw a nice rejection of the channel's supportive trend line; however, I am waiting for clear confirmations this week as that could have just been NFP's manipulation. I'm expecting the Euro's strength to continue and fulfill this channel.
Again, we have another clear ascending channel moving along nicely, forming higher highs and higher lows. Price is currently at the channel's resistance, and I'm looking for price action confirmations of a rejection to the resistance to go short for a continued channel move to the downside now.
Seeing this symmetrical triangle pattern on Gold, and price is currently at the support of the triangle. Price is still far from the apex point to trade the breakout; however, we can trade the consolidation as price moves along towards the apex. Expecting price to show rejection as market opens then continues an upwards move towards the triangle's resistance.
One of the most common questions we hear from beginner traders is "How Much Money Do You Need to Trade Forex?" and our answer is: well, it depends. The amount of money you need depends on your goals as a trader. Is your goal to make a lot of money or are you going to […]
It is likely we see a USD surge in the near future as we get closer to the Fed meeting in March. Bond yields hit yearly highs this morning as the dollar begins to look stronger. A prominent "risk-off" attitude in the markets is showing now, and it looks like investors will be getting out […]
Bitcoin has been vastly oversold due to the fact of regulation concerns from the US government wanting to make a more controlled market just like stocks. For over 2 months, the crypto has fallen nearly 42% from the highs in November, but it looks like it has found a bottom in the $39Ks. Why Bitcoin […]
