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Forecasting

This is a discussion on Forecasting within the General Discussion forums, part of the Trading Forum category; AUD/USD found some resistance at 0.7300 on the daily time-frame and formed a shooting star candlestick at that level on ...

          
   
  1. #171
    Senior Member mlawson71's Avatar
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    AUD/USD found some resistance at 0.7300 on the daily time-frame and formed a shooting star candlestick at that level on the daily time-frame. Next week we may see some retracement.

  2. #172
    Senior Member mlawson71's Avatar
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    NZD/USD has formed a pair of shooting star candlesticks at the resistance at 0.6940 on the daily time-frame, which are a good indicator for a future move to the downside, likely towards the support at 0.6800.

  3. #173
    Senior Member mlawson71's Avatar
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    GBP/USD continues moving to the downside and it is testing the support at 1.2940. I think a breakout below that level may lead to a further drop towards 1.2900 or even below that level.

  4. #174
    Senior Member mlawson71's Avatar
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    GBP/USD finally bounced off from 1.2850 and it is currently quite bullish, having broken out above 1.2900 again. We may even see it rallying towards 1.3000 and above soon.

  5. #175
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    NZD/USD is testing the support at 0.6750 and it is currently consolidating sideways above that level. I think we will see a further move to the downside towards 0.6700 or possibly even lower than that.

  6. #176
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    GBP/USD continues moving to the downside despite the spinning top candlesticks the pair had formed at 1.2850 on the daily time-frame. If there's a breakout below that level we may see another breakout below 1.2800 too.

  7. #177
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    GBP/USD found some support at 1.2830 and formed an inverted hammer candlestick at that level on the four-hour time-frame before it bounced off from the aforementioned support. We may see a retracement towards 1.2900.

  8. #178
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    USD/JPY remains very bullish and continues moving north. Today it finally broke out above 111.00. I think it will eventually rally towards 111.40 or perhaps even towards 112.00.

  9. #179
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    USD/CAD is stuck in a wide consolidation and there likely won't be a breakout in either direction before the market closes tonight. Next week there will probably be another move to the upside towards 1.3300.

  10. #180
    Senior Member mlawson71's Avatar
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    NZD/USD pulled back from 0.6893 after it formed a shooting star candlestick on the one-hour time-frame at that level. Currently the pair is still depreciating and it will probably fall down to 0.6800.

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