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.
The dollar flew higher last week as a result of resilient economic news along with a higher PCE than expected. Now the DXY has reached a decision point in price action. This week's NFP will help determine the sentiment around the potential June rate hike. Here is what we are looking at: EdgeFinder Analysis USDCAD […]
Considerably dovish news from central banks in the US and New Zealand has caused a major stir in the markets. Governor Orr and Vice Chairman Powell both released some reassuring news for the economy in the long term. But what does this mean for USD and NZD? EdgeFinder Analysis GBPNZD is a pair that should […]
As we trade into a broad news week covering the economic status of multiple countries, there are several scenarios we should consider. Although it is impossible to predict the future, we can at least prepare for the news events set to come this week for kiwi, dollar and the pound. EdgeFinder Analysis GBPJPY still maintains […]
