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Weeklymarketsanalysis

Weekly Bearish Bat to retest $300 on LitecoinSo i have already posted a chart of my Bullish outlook on the BTc pair for LTC so far so good. Now i think it's about time i do the USD comparative. As you can see in the chart we are in a major area right now and we seem to be trying to get above and out of it and at the same time we seem to be forming a harmonic pattern. it's a bearish one but one can go long on the swings especially considering how much of a move up this last wave potentially has for us. The PCZ of the pattern happens to line up with the ATH So if we can break out of this critical area i see no reason why LTC wont continue it's ascent back to the 300s.
BITFINEX:LTCUSDLong
by RizeSenpai
EURUSD: Weekly Forecast 23rd - 27th Sept (Happy Birthday to ME!)Yup, it's exactly the date of my birthday lol! Alright, EURUSD has been trading within a range last week. Although it seems slightly bearish for EURUSD, the fact that it's still staying supported at the bottom of the range says that the price could still climb further. The long-term outlook for EURUSD stays bearish but this coming week could be a short-term bullish one, expecting the price to reach highest 1.1150. Therefore, traders can look to long EURUSD at the bottom of the range from 1.10 onward or just wait patiently for the price to break above 1.11 to look for a short opportunity.
Long
by AlgoVenture
EURUSD: Weekly Forecast 16th - 20th SeptemberThe current bullish wave (major retracement) is probably coming to an end soon. EURUSD has been ranging since early this month after it hit the lowest at 1.092. The price is currently trading at the high of the range and is also about to reach the top (selling zone) of a 39-month falling channel. With that, I think we can keep it simple and sell EURUSD in the middle of the week should it continues to climb and reach the demand zone around 1.1170.
Short
by AlgoVenture
Gold: Weekly Forecast 16th - 20th September"Saturday’s attack on Saudi oil fields knocked out about half that country’s oil production." That's the major news first thing in the morning and we have seen the gold jumped as well as oil, yen, Swiss franc and cad. The gold price was trading within a range since early August and the price has came back to this month low and was well supported at a demand zone. The price was actually at the end of a 3-month rising channel at the bottom. The last daily candle was a bearish one but still showed support and this morning without any sign, the price opened with a gap of 180 pips higher. The Dow Jones has also broken below a rising structure and that supports the gold to climb further. Trading plan for gold? Just buy. The technical setup this morning is favourable enough for the gold. The fundamental movement of the gold hasn't changed either.
FX:XAUUSDLong
by AlgoVenture
XAUUSD Down?For the price action, candlestick analysis people out there, The weekly chart shows a Shooting star/Bearish Pin bar on the Weekly chart and a confirmation of it with the week just passed with a weekly candle close below the low of that Shooting star/pin bar. This is a pretty compelling reason to look for sells at least down to that red zone in my opinion. However, It is in a strong bullish uptrend, so it can really continue upwards. And when trading against trend it is hard to say how far we can go but I'm leaning towards looking for sells if the market can break through the red zone it is in, and the green zone as well. Trade at your own risk, Unfortunately, I am not a professional and this is not professional advice, maybe one day it will be, until then use your own analysis as well. PatiencePays
OANDA:XAUUSDShort
by PatiencePays777
Higher Lows for Bitcoin, Can we Make Higher Highs? Good Evening Traders, Bitcoin is looking very interesting on the weekly, just over a big resistance mark from July 15 of $10,590 at $10,615.38. Bitcoin has been following an interesting pattern in the last few months. We have seen two weeks of profit follow each low of the cycle, meaning we could see more profit in time to come. We would need to pass $11,507.59 for a higher high to follow the potential higher low at $9,766.52. I would definitely keep a tight eye on this weekly if I were looking to make any moves on Bitcoin. Feel free to compare this to a more zoomed in POV of Bitcoin on the hourly chart, along with some of my technical analysis here . Disclaimer: This is NOT trading advice! These are merely my opinions that I have posted for you to use as one of hopefully many tools for making YOUR OWN decisions. I hope you all kill it, but I am not responsible for any financial losses. Thanks for reading!
COINBASE:BTCUSD
by CryptoRichCrypto
EURUSD: Weekly Forecast 26th - 30th AugustEURUSD consolidated for the first 4 trading days last week and finally rebounded off strongly near the previous low on its very first retest. This is pretty much as expected as seen in my last week's forecast as that's just how EURUSD will react based on the previous new lows created. The price is expected to climb again and forms the second bullish wave. This week, wait for the price to retrace towards the immediate demand zone at 1.1115. The retracement should take around 30 pips should the 2nd bullish wave is meant to form.
Long
by AlgoVenture
Gold: Weekly Forecast 26th - 30th AugustCan the gold break new high and evolve into another freakish bullish trend this week? Patterns sometimes do repeat itself and it could happen again in this case. The gold fell to the bottom of a range and continued to consolidate throughout the week as it formed lower highs. Just before Powell's speech last Friday, the gold was seen climbing steadily and jumped all the way to the top of the range, just 45 pips shy from the previous high. This symptom looks exactly just like the jump in 2nd July and the price was seen resisted and pulled back strongly after an attempt to break new high. What's really important is that we do not want to chase the gold long at such price and you do not wanna buy high right? If we do not see the price break and close above the previous high in the first 2 trading days, chances are the price will fall again to the range bottom. Therefore, I am open to an attempt to sell the high, and even if that failed, I know that I've sold at the highest price.
FX:XAUUSDShort
by AlgoVenture
1
Gold: Weekly Forecast 19th - 23rd AugustThe gold has undergone a full week of consolidation after 550 pips plunged from the top of a 3-month rising channel. According to the previous bullish wave, the current wave is very much overbought and the plunge seen on last Monday will most likely cause another bearish wave. In this week, we will wait for the price to retrace higher and look for selling opportunity at the demand zone at 1522. However, the long-term trend stays unchanged and the gold price is projected to reach 1620 by the end of 2019.
FX:XAUUSDShort
by AlgoVenture
USDCAD Weekly outlook 19.08OANDA:USDCAD USDCAD weekly outlook: Seen a recent double top formation with a strong uptrend holding. Naturally, we are looking to break this line and rally back to support levels. We still have to consider further bullish control if we break above the highs. - To be a bull in this pair we are waiting for a break of trend and target previous levels. USD is likely to be having a rate cut in the very near future which further supports a bear break. We need to confirm. - To be a bull on this pair we can look for bull failures from the moving average. Although we have seen a triple top, there is still scope to head north. USD will be busy so price action will need to follow for opportunities.
Short
by Youza
US Dollar Currency Index / W / Weekly Forex Analysis / 8.11.2019Hello Traders, welcome to the Weekly Forex technical analysis. Today is August 11th, 2019 and we will be taking a look at the U.S. Dollar Currency Index on the weekly chart just to get into the calendar, and have an outlook into the upcoming week of August 11th. Looking at the Dollar Index here on the weekly time frame, the DXY losing the 97.6 resistance area and taking a serious leg down. Our next level of support is going to be the 96.1 area, if that fails to hold, next we would look at the 95.6 region for our next area of support. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!
INDEX:DXY
by FuturesForexClasses
Gold: Weekly Forecast 12th - 16th AugustGold rush after gold rush, the gold price has reached beyond 1500 for the first time in 6 years. There's no doubt behind the gold strength and the long-term view shall stay bullish throughout the rest of 2019 as central banks continue to cut rates and ease monetary policies. However, the recent bullish wave has well exceeded the volume of all previous bullish waves and signs of exhaustion can be seen thus significant retracement is expected to take place For short-term selling, only choose to sell at a high from 1504 onwards (a minor supply zone can be seen in the m15 chart), targets at 1492, 1487 and 1470. To buy gold again, the most immediate price is seen at 1487 (just below the current range low), while the best entry is determined at 1470 (key demand zone).
FX:XAUUSD
by AlgoVenture
1
EURUSD: Weekly Forecast 12th - 16th AugustThe EURUSD made one of the strongest bullish runs in more than a month as daily volume surge to a 20-month high from a 27-month low. The price, however, fell into consolidation for the rest of the week as it got resisted by a 2-week supply zone. The US economy continues to show a slowdown and Fed members have been dovish enough as they see more rate cuts are needed in the near future. No doubt that the eurozone is always facing economic slowdown and uncertainties such as Brexit, there' are signs for further technical rebound in the next couple of weeks. In this week, we are expecting that the price will retrace lower during the consolidation phrase before it embarks on another bullish run. Look for buying opportunity from 1.1115 to the demand zone at 1.1110. However, if the price were to retrace too deep and break below 1.1110, the sentiment will turn bearish and EURUSD will once again break new low.
Long
by AlgoVenture
BTC/USD WEEKLY SHORT, LONG-TERM.BTC/USD WEEKLY SHORT, LONG-TERM. The bearish engulfing is one of the most important candlesticks patterns. This candlestick pattern consists of two bodies: The first body is smaller than the second one, in other words, the the second body engulfs the previous one. This is how a bearish engulfing bar pattern looks like on your charts, this candlestick pattern gives us valuable information about bulls and bears in the market. In case of a bearish engulfing bar, this pattern tells us that sellers are in control of the market.
BITSTAMP:BTCUSDShort
by alejjuuu
Gold: Weekly Forecast 29th July - 2nd AugustGold formed a bearish weekly candle for the first time after 9 weeks of bullish candles. The gold price has been held back from climbing further by a strengthening dollar and also due to a technical overbought. In the H4 chart, we can see that the gold has just completed the 2nd wave of a bearish trend but came short as compared to the first wave. There isn't any strong selling pressure seen and the bearish move last week is probably just another consolidation before the gold resumes its major bullish trend. This week, we will watch closely for the demand zone right below 1410 as the price is expected to retest the current low since the rebound last Friday wasn't strong. However, traders should watch out closely for FOMC as well as NFP to gauge the dollar strength when trading the gold. If the gold does drop below 1410 and rebound from the demand zone, it would be a good opportunity to build gold long before FOMC.
FX:XAUUSDLong
by AlgoVenture
Dollar: Weekly Forecast 29th July - 2nd AugustThe dollar climbed as expected as euro continues to weaken amid ECB and dollar continues to climb with some better than expected economic data. The dollar is about to complete the 2nd bullish wave after breaking out from a consolidation which has completed 2 waves of retracement. The price is expected to climb a little further and will meet with strong resistance at a 4-month high around 98.4. The key focus for this week is none other than the FOMC where a rate cut of 25 basis point is widely expected. The expectation of a rate cut has already priced in and the market is more focused on the tonation of the Fed in regards to the economic health to look for clues for whether the Fed will continue cut rate further later this year. Another important thing to take note is whether the Fed will unexpectedly cut by 50 basis point instead of just 25 basis point. In this week, the dollar is expected to consolidating upwards before the FOMC. If the FOMC is dovish with its economic condition and/or decides to cut by 50 basis point, the dollar will face a strong resistance near 98.4 and fall towards 97.5 and then 96.7. But if the FOMC shows little clue for another cut in this year and choose to only cut by 25 basis point, the dollar may either break through the 4-month high near 98.4 or maybe it will face some resistance first and pull back towards the demand zone at 97.5 before climbing further, I will be posting another post on trading the FOMC separately.
TVC:DXY
by AlgoVenture
Gold: Weekly Forecast 22nd - 26th JulyThe gold, though recently broke new high again, is expected to fall into consolidation again. The breakthrough this week is unlike what it was in June and the last bearish day candle was the most bearish one since one year ago. Nevertheless, the gold stays fundamentally strong and holds high demand as a safe haven asset. This week, if the price were to climb first, sellers can look for sell opportunity at the supply zone around 1437. For buyers, the key demand zone is seen at 1410 - 1406 where the price began to strengthen and eventually broke out of the previous range.
FX:XAUUSD
by AlgoVenture
Dollar: Weekly Forecast 22nd - 26th JulyThe dollar has shown resilience this week as the price was supported twice by the demand zone at 96.7 and has begun to climb again. The price has previously broken above a falling trendline thus signals for the price to climb further After this week, the price has completed 2 waves of retracement where the price is now seen rebounding off from key demand zone at 96.7. The dollar is ready to proceed with another wave of bullish trend this week despite the fact that the Fed is most likely to cut rate this month. The dollar still holds the highest interest rate after all and it is still a considerably good safe-haven asset to hold.
TVC:DXYLong
by AlgoVenture
EURUSD: Weekly Forecast 22nd - 26th JulyThe bullish structure which EURUSD had before this week has turned sour as the price failed to break the supply zone at 1.128 but instead fell back to the range bottom at 1.12 again. In this week, simply wait for a pullback and look for sell opportunity between 1.124 and 1.126. Among all the major currencies, the euro is certainly fundamentally weak which is caused by the ECB signalling to introduce QE or cut the rate deeper into negative zone.
Short
by AlgoVenture
2