Good opportunities for entry next week. Forex Weekly Technical Analysis based on the Support, Resistance levels, Trend lines, EMA.
(Forex weekly forecast by Camilo R.)
AUD/CAD Weekly Forecast
At monthly chart we can see 3 things. The more important at the moment is the support area some pips bellow the price. The uptrend line and the resistance area is far away of the price at this moment.
At weekly chart we must care about the two trend lines, the up who is away of the price and the down where the price is touching.
Some days ago the price touched a strong resistance area with confluence of the weekly downtrend line and the daily resistance, but even this area was not able to get the price down. At this moment the price is touching the weekly downtrend line, the main trend is up but to buy this pair again we must wait the break of the resistances above.
CHF/JPY Weekly Forecast
At monthly chart we must care about 2 zones. The historical high at 119.00 and the support area around 105.000.
The weekly chart show us a uptrend line near the actual price.
At daily chart we see the price done the retraction around 61.8% of the last Fibonacci but did not have the strength to break the last top. Now he is in a triangle. The weekly trend line may decide for where this pair will go. If the price touch the weekly trend and break the daily downtrend line we must but if the price break the weekly trend line we must wait the break of the daily support to sell.
EUR/USD Weekly Forecast
The monthly chart show us two trend lines.
At weekly chart the price already broke the support area with the uptrend line and EMA72.
After a strong down the price are now near the -61.8% of the last valid Fibonacci Extension, this area is used by traders to take profit, probably this area will present some obstacle for the pair. Some pips bellow we have a daily support. If you are selling EUR/USD this area is the best to take your profits, probably after touch the price will do a retraction.