Forex Weekly Forecast & FX Analysis February 01 - 05

EUR/CHF

The trading of the past weeks for the euro against the Swiss franc allows us to hold an additional level at around 1.0750. If we consider the indicators, then they do not give any signals for trading, since they are at neutral indicators. The only exception is the oscillator, which is close to the downtrend, but this movement is minimal and, in general, the preponderance also goes to neutral indicators. Therefore, we note that you cannot trade while the price is within the specified range. As soon as the price breaks through this range, a trade is opened in the direction of the breakout.

NZD/USD

For this currency pair, we note 2 important characteristics. First, the 0.7182 level is very important. Secondly, an uptrend dominates, the symbol of which is in many ways the level of moving averages, which almost perfectly describes the trend line. Indicators do not give signals for trading, therefore, given that the upward trend is confirmed, and the indicated level was tested for the second time last week in a short time, we can expect the price to return to growth and open an upward contract.

EUR/RUB

The euro against the Russian ruble last week made a fairly strong upward movement, which is clearly visible both on the indicators and on the price chart. If you look at the price chart, for the first time in a fairly long period of time, the price of the euro against the Russian ruble was at the border of the level of 92.45. The level is very significant and the last time the price reached it there was a strong downward movement. Now we are talking about the fact that the price is again at the top of the market and the indicators confirm this. Moreover, if we consider the oscillator, then it already shows divergence. Thus, we can expect a downward movement at least to the level of 91.70.

AUD/CHF

The dominant dynamics for the Australian dollar against the Swiss franc is still upward, however, the last month's trading allows considering options for trading down and considering options for completing the uptrend. First of all, we note the fact that all indicators are already looking down, and the histogram is at rather high negative values. Secondly, we note the significance of the 0.6832 level, as well as the fact that the market is below this level and already below the moving averages. Moreover, this downward movement turned out to be not only strong and directed, but also led to testing. Thus, there are all the prerequisites for opening a contract for a fall.

GBP/CAD

The British pound against the Canadian dollar made an abnormally strong upward movement last week. If you look at the price chart, you will see a whole series of ascending candles formed there, and the movement turned out to be somehow very directional. This movement is confirmed not only by price, but also by indicators. Please note that all indicators are at a local maximum, but this is especially evident from the oscillator, which has risen very strongly into the overbought zone. Thus, the best strategy is to abandon the trade, as the market needs to calm down after the anomaly has occurred. But if you want to trade, you can open a descending contract, hoping that the market will need a correction after such a movement.

NZD/CHF

For this currency pair, the main characteristic is the absence of a clear trend movement and the absence of directional volatility. This can be seen both in the price chart and in the indicators. For example, this is very clearly seen from the histogram, which has not been able to move away from zero values for a long time. If you look at the level of moving averages, then it looks up, thus foreshadowing an upward trend. And the price development itself takes place above the important level of 0.6327. Thus, you can consider options for trading up.

USD/CNH

The dollar against the Chinese yuan is gradually winning back its positions, making a fairly strong upward movement for several weeks. This movement is characteristic along the trend line, but from above it was corrected by the moving average levels each time. There were at least 3 such corrections. It is very important that these corrections took place at approximately the same level, but at the same time the indicators show a clear downward movement. Thus, in theory, we are talking about divergence, when the indicators are looking down and the price is looking up. Therefore, taking into account the strength of the downward movement, we can expect that the price will be below the trend line and then it will be possible to open an outgoing contract.