Weekly Forex Forecast for USDCHF, GBPUSD, AUDNZD, XAUUSD (20-25 September 2020)

Weekly Forex Forecast for USDCHF, GBPUSD, AUDNZD, XAUUSD (20-25 September 2020)

Hey everyone! Welcome to this weeks forex forecast for the week ending September 25th, 2020. I'm TraderBart with A1 Trading, and this week I'll be looking at USDCHF, GBPUSD, AUDNZD & XAUUSD.

USD/CHF

Zooming out, we can see price is travelling in a strong downtrend. However, since September, we saw price has been failing to create new lows, and instead, price is now forming a symmetrical triangle pattern. Price is already near the apex point, expecting a breakout then retest this week. I'll only take a position once I see price action confirmations of a rejection to the trend line.

GBP/USD

Looking at the daily timeframe, we can see this substantial ascending channel which price has been travelling in since April. Price has been forming higher highs and higher lows, and the pound as an economy, has been able to recover from the massive drop caused by Covid19 nicely. Zooming in, we can see that currently, price is forming a bearish flag pattern on the H4 timeframe and is now awaiting its breakout. I'm expecting price to complete this chart pattern move and reach 1.27 level before reversing and continuing the ascending channel by making a move to the upside.

AUD/NZD

We can see this large rising wedge pattern formed here on the daily timeframe, which price was able to break out of in the past week. I'm waiting for price to now retest the support structure, reject it, so treat it as resistance before continuing a move to the downside and completing this chart pattern.

XAU/USD

I've been sharing this symmetrical triangle pattern on Gold for the past 2/3 weeks now. Price is currently at the apex point of this pattern and I'm expecting price to breakout anytime this week. Once we see price break out of this structure I'll be waiting for a retest and then waiting for price action confirmations of a rejection and a continued move to the desired direction before taking any positions on this pair.

WANT TO SEE OUR ANALYST'S LIVE TRADES?

JOIN OUR PREMIUM GROUP TO ACCESS:

  • Trade alerts from our analysts
  • The VIP chatroom with traders worldwide
  • Training material exclusive to members

Looking for a Broker?

Check out our favorite brokers & reviews! Find brokers available in your country, or our top rated brokers to consider.
Find a Broker
More Articles
January 10, 2021
Weekly Forex Forecast for GBPUSD, EURCHF, USDJPY, XAUUSD (10-15 January 2021)

Weekly Forex Forecast for GBPUSD, EURCHF, USDJPY, XAUUSD (10-15 January 2021) Hey everyone! Welcome to this week's forex forecast for the week ending January 15th, 2021. It's so great to be back, I hope everyone's had a fantastic holiday, and I hope everyone's motivated to work 10x harder than last year. I'm wishing everyone nothing […]

Read More
December 21, 2020
Top Trading Ideas for 2021

Throughout the year, we've seen many changes to the way we trade, how we manage risk and how we interpret the markets. The new insights we have gained over the months usually come after years of trading and adapting to ever-changing environments. We've done all that in a matter of months! Up until the New […]

Read More
December 13, 2020
Weekly Forex Forecast for GBPUSD, USDJPY, GBPJPY, XAUUSD (13-18 December 2020)

Weekly Forex Forecast for GBPUSD, USDJPY, GBPJPY, XAUUSD (13-18 December 2020) Hey everyone! Welcome to this week's forex forecast for the week ending December 18th, 2020. I'm TraderBart with A1 Trading, and this week I'll be looking at GBPUSD, USDJPY, GBPJPY & XAUUSD. GBPUSD Price has been travelling in this ascending channel since March forming […]

Read More

Related Articles

August 28, 2020
Economic stimulus and the Role of Central Banks

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 […]

Read More
August 26, 2020
How to Spot a Scammer

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 […]

Read More
August 22, 2020
Legends of Investing - The Story of Warren Buffet

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 , […]

Read More

A1 Trading Company

A1 Trading Company is a financial services and media business founded in Atlanta, USA.
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram