Day trading increased in popularity lately. Because the Forex market is open 24/5, day trading strategies appealed to retail traders. As such, day trading for beginners became possible with little financial resources. But retail traders needed to learn a few day trading secrets before becoming profitable.
Welcome to our weekly Forex forecast again. Most of our Forex expectations and recommendations for last three weeks are done and below are our next week recommendations :
Weekly Forex forecast EURUSD :
Our new reference price is 1.15771 which means the price is up if doesn’t break this level down. While we are seeing 1.20 as new target price for next week. Currently price is 1.16625 and you should buy only after getting confirmation of price on the top of 1.17171. In this case your stop loss should not be more than 25 pips and your take profit is almost 200+ Pips.
Weekly Forex forecast GBPUSD :
Many negative news came on GBPUSD last week which had pushed the price to test the low trend line channel. We are expecting the price to go up again after the test of low ( up trend channel line ). We recommend Buy @ 1.30283 with take profit at 1.33130 and Stop loss at 1.29418, The target is almost 300 Pips.
Weekly Forex forecast USDJPY :
We can see new down trend channel clearly created last week on USDJPY. The price now is at Fibonacci 61.8 level and there is a chance for retrenchment, but we are still expecting the price to continue down after testing of the high trend line of the down trend channel as per the image below.
We are forecasting for next week a Sell order at 110.791 with take profit at 109.269 and stop loss at 111.159.
Weekly Forex forecast USDCHF :
Very strong down trend channel had been created last week with break for three support levels and the price now in the last support level before going down for almost 200+ pips, We recommend Sell at 0.94312 with take profit at 0.92927 and stop loss at 0.95038.
Weekly Forex forecast USDCAD :
Continuous down love for third week and we are expecting one or two more weeks in the same down move. Especially if the support level of 1.24250 broken next week. This is why we are forecasting Sell for USDCAD at 1.24343 with take profit at 1.21415 and stop loss at 1.25721.
Weekly Forex forecast AUDUSD :
After break up word for the resistance level of 0.78325 we are forecasting for next week Buy limit at 0.78311 with take profit at 0.80938 and SL at 0.77205.
Weekly Forex forecast NZDUSD :
The price of NZDUSD had passed already strong resistance level and have another one at 0.74850 . We are expecting the price to break it up and continue the way to Fibonacci 61.8 . We are forecasting Buy at 0.74916 with take profit at 0.77257 and stop loss at 0.73820.
Below you can watch our weekly Forex forecast video as well :
Click Here if you want to see our last week forecast .