Forex Weekly Forecast & FX Analysis February 08 - 12

EUR/CHF

The euro is still showing a clear sideways tendency against the Swiss franc. This time the price was trapped within the range with the borders of 1.0787 and 1.0820. Interestingly, within this range is the very important 1.0800 level, as well as the moving average level. If you look at the indicators, they do not give any signals, which means that we only take the range data into work. You cannot trade while the price is within this range. We are waiting in which direction it will be nailed later and in the direction of the breakdown, you can open a contract.

NZD/USD

The New Zealand dollar versus the US dollar is another pair in this weekly survey that is dominated by sideways dynamics. The absence of a trend is primarily traced by indicators that are close to neutral values ​​and practically do not depart from them. Trades of the last weeks allow to hold an additional significant level of 0.7220 on the price chart. The price is below this level and below the moving average level. We note the general dynamics that in the absence of a trend movement, the price tends to moving averages and trading options for an increase can be considered.

EUR/RUB

Last week, the euro lost its ground very strongly against the Russian ruble, dropping to the level of 89.84. This level is very important for this currency pair, and it has repeatedly demonstrated its importance on the chart. If we consider indicators, then only an oscillator can provide opportunities for trading, since this indicator is practically already in the oversold area. Taking into account the position of the oscillator and testing an important level, we can expect that the trend will change and an upward contract can be opened.

AUD/CHF

Last week the Australian dollar made a very significant upward movement against the Swiss franc, within which the price was above the 0.6832 level and above the moving averages. It is characteristic that the upward movement is confirmed, among other things, by all indicators. Thus, we can say that there are all opportunities for considering a promotion contract. Downward trading will be possible only if the price is below the last trend line.

GBP/CAD

For the British pound against the Canadian dollar, recent weeks have been characterized by very high volatility and a reversal of the trend. First, we see a very strong upward movement, and immediately after that a slightly less strong downward movement. It is characteristic that regardless of the direction of movement, the price is inclined to trade in the direction of the moving average level, but each time these levels are reached, a rebound up occurs. This is a sign that confirms the strength of the upward dynamics. Taking into account that the price bounced off the moving average level quite recently, an upward movement can be expected.

NZD/CHF

The New Zealand dollar against the Swiss franc is trading in an uptrend, which can be clearly seen both on the price chart and on indicators. One of the most important characteristics of this currency pair is that the price is above the 0.6420 level. Indicators do not provide any signals for trading and the main opportunity for trading is given by the presence of strong levels and the position of moving averages that look up. Hence, bull trading options can be considered.

USD/CNH

The US dollar against the Chinese yuan continues to form an uptrend locally, which increasingly rests on the level of moving averages and finds a correction there. It is characteristic that the last weeks are clearly characterized by the absence of a trend in indicators that are close to neutral indicators. Please note that more and more often the price rests against the moving average and after that there is a downward movement. Right now, the price is in the area of ​​moving averages and in the area of ​​the trend line, which means there are all options for opening a downtrend contract.