Forex Weekly Forecast & FX Analysis July 13-17

Technical analytics of the currency market Forex for the upcoming trading week July 13 17, 2020.

EUR/CHF

Euro vs. Swiss Frank In its current stage it is possible to speak about the triangle figure, which is formed by the level 10623 and the descending trend line. The current figure is below the level of moving averages, which like the trend line looks down. The histogram in this case looks up, and oscillators show neutral dynamics with some advantage of downward movement. Taken together, all these factors allow us to consider variants of descending trade, but the trade can be opened only on condition that the market will be fixed below the designated level.

NZD/USD

The New Zealand dollar vs. the US dollar is characterized by a market segment with low volatility and absence of visible trend movements. The current price is framed by the sideways corridors with the borders of 0.6492 and 0.6585. The indicators also do not show any inclination to trends, which can be clearly seen in the histogram. Characteristically, the price is now close to the upper boundary of the price channel, which means that you can trade downwards. This assumption is enhanced by the fact that the oscillator is already looking down after reaching the overbought area.

EUR/RUB

The Euro continues to strengthen its position against the Russian ruble. The current market stage is characterized by an upward trend, in which the price has already managed to consolidate above 78.50 and continues to grow. The histogram confirms the upward trend, as the indicator updated the local highs, the downward movement turns out to be minimal and short-lived. The same can be said about oscillators. Thus, we can consider the continuation of the uptrend and trade on the rise for the coming week. The optimal entry point will be close to the trend level indicated on the chart.

AUD/CHF

The Australian dollar against the Swiss franc is one of the most dangerous assets for trading, as there is almost no volatility on it. Usually, it is said that such areas with extremely low volatility eventually lead to a strong movement after. The absence of volatility is confirmed not only by the price, but also by indicators that are practically standing still. Thus, this asset cannot be traded in the coming week. A wider range with the boundaries of 0.6501 and 0.6585 can be distinguished for it. As long as the price is within the range, it cannot be traded. Once the range is broken through - you can trade in the break-up direction.

GBP/CAD

The updating of the upward trend also characterizes price development for this currency pair. Not only the price is looking up, but all the indicators as well. At the same time, there are several signs that allow you to consider options for trading downwards. First of all, we look at the oscillators, which have been in the overbought area for a long time. Secondly, the histogram is at its maximum values. Third, the price chart is close to the very important level of 1.7177. Therefore, we are trading on a lowering level.

NZD/CHF

The current currency pair is characterized by low upward trend pressure, however, the last week has pushed the price within a very narrow range of 0.6150 from and 0.6200. At the same time, the indicators are also in neutral value and do not show any tendency to any trend. It is very important that the lower level of the channel coincides with the level of moving averages. Thus, we reiterate that as long as the price is within the range, it is impossible to trade, because the range is very narrow. Once the range is broken through, you can trade in the direction of the break-up.

USD/CNH

<>pSome downward pressure characterizes this currency pair. First of all, it can be traced back to the oscillator, which has not been fixed above the level of 60 for a long time, and develops mainly in the lower part. The same can be said about the histogram, which mainly develops in the area below 0. The price of the asset is approaching the level of moving averages and as soon as it drops below this level it will be possible to trade down.