A1 Trading Company

September 19, 2020

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

Bart Kurek

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.

A1 Edgefinder

AI- Generated Trading Setups
AI-generated bullish/bearish bias setups on forex currencies, gold, & indices.

Discount code: 'READER'

Access Now

Free

Trading Plan Template
Struggling to build a successful trading plan? Download our template to get started today!
Download
Shutdown Halted, Dollar Climbs

Just before the scheduled shutdown at 12:01 am on Sunday, Congress voted to extend the deadline for another 45 days. Yields jumped higher to above 5.1% which has remained elevated for some time. As we enter an historically bullish month for the indices, here are some setups on dollar, gold and index setups EdgeFinder Analysis […]

Read More
Yields Hold Steady After GDP

GDP numbers came in lower than expected in the US, marking the third straight drop in economic output. This is usually good news for the stock market indices and gold, however, bond yields continue to hold up above 5.1%. Here are some potential trade setups for both dollar and index longs depending on how the […]

Read More
USOil Breaks Through the Highs! (+$2646.85)

Hi, I’m Nick! I am the founder of A1 Trading, market analyst, YouTuber, and creator of the EdgeFinder software tool. I caught a huge winner on USoil with the help of the EdgeFinder! In this article, I’ll walk you through my thought process behind the trade and how I found this crazy runner! Finding My […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
VIP
Menu
homesmartphonelaptop-phonemenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram