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Forecasting

This is a discussion on Forecasting within the General Discussion forums, part of the Trading Forum category; GBP/JPY rebounded from 140.90 after forming an impressive hammer candlestick on the weekly time-frame at that level. I think the ...

          
   
  1. #161
    Senior Member mlawson71's Avatar
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    GBP/JPY rebounded from 140.90 after forming an impressive hammer candlestick on the weekly time-frame at that level. I think the pair may rally back towards the resistance at 142.00.

  2. #162
    Senior Member mlawson71's Avatar
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    AUD/USD is testing the support at 0.7145 and considering the spinning top and shooting star candlesticks at 0.7245 on the daily time-frame there will likely be a breakout below that level indeed.

  3. #163
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    NZD/CAD found some support at 0.8900 and formed a spinning top candlestick at that level on the four-hour time-frame, I think we will soon see it move north towards 0.9000.

  4. #164
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    GBP/USD has formed an inverted hammer candlestick and a hammer candlestick above the support at 1.2430 and unsurprisingly bounced off from that level. The current move to the upside will likely continue and the pair may rally towards 1.3100.

  5. #165
    Senior Member mlawson71's Avatar
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    AUD/CAD is testing the support at 0.9475 and I think we may see it break out below that level. If it does it will probably continue depreciating towards the next support at 0.9400.

  6. #166
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    EUR/USD rallied sharply today after bouncing off from the support at 1.1290. Currently the pair has almost reached the last high at 1.1380 and it will likely break out above it to head towards 1.1400.

  7. #167
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    EUR/USD formed a new high yesterday, as well as a spectacular engulfing candle on the daily time-frame when it reached 1.1417. That is quite a good sign for a further move to the upside and I wouldn't be surprised if the pair reaches 1.1500 next week.

  8. #168
    Senior Member mlawson71's Avatar
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    GBP/USD has reached a local high at 1.3170 and it is currently testing that level. A breakout above it may lead to another rally towards 1.3200 or even 1.3300.

  9. #169
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    GBP/USD pulled back from 1.3212 and it is currently consolidating below that resistance. Tomorrow we can expect the release of the US Non-Farm Payroll data so that event will likely cause major volatility for this pair.

  10. #170
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    USD/CAD dropped sharply after the NFP data release today and the move to the downside continues. I think we will see it continue depreciating towards 1.3000 next week.

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