A1 Trading Company

Ticker tape by TradingView

September 26, 2021

Weekly Forex Forecast for USDJPY, GBPUSD, GBPNZD, XAUUSD (26-01 October 2021)

Bart Kurek

Hey everyone! Welcome to this week's forex forecast for the week ending October 1st, 2021. I'm TraderBart with A1 Trading, and this week I'll be looking at USDJPY, GBPUSD, GBPNZD & XAUUSD.

USD/JPY

Price closed off for the week just above the resistance at 110.6 in this range bound market. Look out for how price reacts to this level, whether we see further bullish momentum continue pushing price higher, or if we see price retrace it's move and reject off the resistance, or if we see price fall back below the resistance and once again confirm the level as continued resistance as price heads back lower again, filling the gaps it's left behind.

GBP/USD

We saw price reverse off the daily order block at 1.361 and is showing signs of a retracement to that move. Look out for how price reacts to the same order block, and if it will act once again as an area to go long off. If we see price push below this will turn this zone into a breaker block, an area to go short off.

GBP/NZD

Price continuing to consolidate in the middle of this range between 1.92-1.97. Look out for a clear break outside the short-term key levels acting as support and resistance which are 1.935 and 1.955. If price breaks above 1.955 it's likely we'll see further movements towards the breaker block at 1.97 whereas if we see price break below 1.935 it's likely we'll see price push towards 1.92.

XAU/USD

Price is currently sitting inside the bullish order block and we're now waiting for a catalyst to push price outside the OB. If we see price continue going lower and break below the zone, this zone will become a breaker block, an area to go short from. Currently, in the short-term, we are seeing a descending channel form in the past couple of weeks, and hence unless price forms a new trend, a breaker block situation will be likely.

A1 Edgefinder

Smart Money Tracker
See where big money is flowing with the A1 Edgefinder's smart money tracker! With one click, see where the biggest money flows are entering and exiting through COT data.

10% off code: 'READER'

GET ACCESS NOW

VIP discord

Trade Alerts, Strategies, Chatrooms & more!

10% off code: 'READER'

LEARN MORE
What To Take Away From Powell's Remarks

Today, Fed chairman Jerome Powell spoke on the labor market and inflation. While we don't know what the future holds for the equities and currency market, we can derive certain conclusions from investors' interpretations. Here are some powerful takeaways from Powell's remarks this afternoon. Key takeaways Market Impact This caused the dollar and equities to […]

Read More
What To Expect From Today's FOMC

Today at 2:00 pm EST, the Fed will announce their latest interest rate decision. Estimates suggest a smaller hike of 25 basis points this time around. Here are some things to consider before the FOMC decision later today: The Fed has struggled to tighten their grip on inflation without causing too much disturbance in the […]

Read More
The Art of Not Trading

With the holiday season lingering on and a new year on the cusp of arrival, traders may glance at the calendar and notice there is not much economic news to anticipate on Friday to cap off a light week. In situations like these where there can be lulls in bullish and bearish momentum due to […]

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
homesmartphonelaptopmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram