Forex Weekly Forecast & FX Analysis September 21-25
EUR/CHF
Last week definitively states that the attempt to form an upward trend has exhausted itself and the market is still in a sideways trend, with a tendency to move towards moving averages. However, if you look at the current market segment, the maximums can be used to draw a downtrend line will provide key signals for trading over the coming week. We are in a downtrend phase, which can be clearly seen on the histogram, which means that you can trade downwards. However, if we manage to stay above the trend line, we will be able to trade upwards.
NZD/USD
The upward trend we talked about in the previous survey has fully justified itself and the market has indeed moved upwards. Characteristically, this movement is already in the correction phase and the peak coincides with the previous maximum, which was followed by a strong pullback. All indicators are looking up, but this does not give any specific signals for trading. On the contrary, despite the dominance of an upward trend, we take into account that the market has reached an important psychological level. Therefore, it may need a correction, which means that we are trading downwards.
EUR/RUB
Globally, we are still talking about the stage of an upward trend in the euro against the Russian rouble, but locally it is more like a side correction. Characteristically, during this correction, the histogram is mostly in the negative area, coming at rather low values. If you look at the oscillator, it is close to neutral positions. However, we note that the price has tried to fall below the moving averages at least twice in recent times, but then went upwards. Given that the current stage of the price is close to the level of moving averages and that the last testing point was not so long ago, an upward movement can be expected. But consider that there is no volatility in the asset.
AUD/CHF
This currency pair is quite difficult to predict for trading in the upcoming weekly trade. This is primarily due to the price position. If you look at the last candlesticks, almost all of them have short bodies and long shadows in both directions. This is the clearest sign of uncertainty. At the same time, all indicators are in neutral positions and give no signals. The best thing to do is not to trade this currency pair at all. However, if you want to take a risk, you can prepare for upward trade if the market fixes above 0.6660.
GBP/CAD
The basic idea for trading the British pound against the Canadian dollar over the coming week is dictated by graphical analysis. If you look at the price chart, you will find that it correlates well enough with trend lines. This is why we will use them. If we look at the current uptrend line and the important level of 1.7177, we can see the triangle figure, and the market is very close to its peak. We can therefore say that we cannot trade now, but once the triangle has broken through, we can trade in the direction of the breakthrough.
NZD/CHF
The main dynamics for this currency pair is upward, although the stages of downward correction movement are long and quite strong. If you look at the current price stage, it is close to its maximum values, but it is corrected at 0.6150. At the same time, the oscillator is in the overbought area and the histogram does not give any specific signals as it is close to zero. In this situation, a downward correction movement can be expected as an attempt to absorb an upward movement at the top of the market is already visible.
USD/CNH
This week's movement has led to what we talked about in the previous week's review: a strong downward movement as a result of working out the triangle figure. The movement is very strong, with the oscillator in the oversold area and the histogram repeating the minimum historical values. Characteristically, all indicators and price are in the ascending trend formation stage. Given the fact that the previous fall was very strong, the market may need to make a correction, which means that upward trading options can be considered.
