Hi Traders! Forex Weekly Forecast Text Format August 11th To August 16th 2019 is here. My team and I always continue to work very hard for you and your success and as we do every week, we have prepared two great gifts for you!
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In this pair the expectation from previous week was to be in a corrective cycle which could be moving in two waves or take us to ranging conditions. As explained in the previous week’s post one of the scenarios we were following is the spike of the daily triple cycle (spike to the middle and then move down). We got the spike but there is still possibility for two waves or a ranging correction.
The inverted hammer that we got during the week is a beautiful call. We got three swing highs, also we have a powerful resistance area of the 200 MA with a bearish slope (lower highs, lower lows) giving a bearish view and mainly its a direct retrace to 50% fibo. Besides these we have a very beautiful sign that I would like to work with, that is we have a bearish hidden divergence with a classical candle pattern and a beautiful spike. So sell the rallies with bearish evidences is my plan here.
In this pair our plan from previous week was to look for a break above the falling trend line. The daily trend line was broken now, we are after small retraces and buy continuation.
On the H4 chart the one shown in the screenshot might be the corrective view we are talking about, the price might create a bullish hidden divergence and then further continuation to the upside would be expected.
In this pair we are riding the weekly wave to the downside, there were two options (two waves or a range) we are moving inside a daily corrective cycle and the price provided the range scenario. Our plan from previous week was to sell the rallies. With the important news from New Zealand where they cut the rates, we got the rally and the continuation on the daily chart. So this is running and I do not see any reversal signs so in my personal view the price might continue lower further. We had two waves, bearish hidden divergence and trend line breakout so we might face a straight move down
Or alternatively we might face some kind of rally and then a move down. My personal view here is to look for bearish setups.
In this pair we had an amazing run for couple of weeks now, this pair pays greatly, the plan was and remains bearish here. The weekly and daily are still bearish no changes in the view, the H4 doesn’t provide a trend change as for now (it might change during the week). We have two critical levels to pay attention to on the daily chart, the first one was reached (61.8% of the cycle). We might see some fights around this area but generally the price might be heading towards the 100 fibo level or may be even lower. If the rallies happen then it might provide further opportunities to sell and take us towards the next critical level.
In this pair our plan from previous week was to sell retraces with bearish evidences. We got the movement, again it is very impulsive, this pair is facing some sort of consolidation. If we get a new high to the area shown in the screenshot, I would be looking for the divergence to form and then I may start looking for the sell setups from this area.
Last week we had a concern with this pair, that is on the daily chart if the price crosses the 61.8 fibo retrace area in one leg then it would invalidate the bearish view. It didn’t happen yet so we do need to see how it develops.
In this pair the price is currently in a corrective mode and I expect it to happen in two waves or a range, the view still remains the same. We might get two deeper waves.
In this pair our plan from previous week was to look for sells towards 1.20. We got the correction, retrace and move down, price is at the 1.20 level and it is a right place to cash out. We do not have any reversal signs so the bearish pressure remains on but I would definitely be cashing out and enjoying the profits or at least partial cash out.
In this pair our plan from previous week was to sell the rallies with bearish evidences and we were expecting the price to reach the psychological level 80. The retrace happened and the psychological level 80 was hit only then bullish divergence came into play and this pair paid greatly. Right now there is no signs against so my personal view remains bearish, we might get a straight continuation or may be after some rallies.
In this pair our plan from previous week was to sell the rallies, we got the rally and the continuation as expected. We may now expect a straight move to the downside or we may expect the price to create a second leg and then we may look for possible continuation to the downside. Sell the rallies with bearish evidences was and remains the plan for us.
In this pair our plan from previous week was to look for sells and it worked very nicely, we were expecting the price to move lower and create a new low around 0.6350. The price moved exactly as we expected and the price has even moved lower than the expected levels. There are no official reversal signs and my expectation still remains bearish in this pair, sell the rallies with bearish evidences is my plan here. We might get a straight continuation or after some rallies.
In this pair we were looking for retraces and continuation lower,. we got the retrace and beautiful move down. There are no signs of reversal yet, therefore sell is still our desired direction and sell the rallies with bearish evidences is our plan here.
In this pair on the weekly chart the price is moving inside a channel and is possibly trying to break through the bottom.
If the price manages to break through then there is a good chance that our next destination might be the 100 fibo expansion of the developing monthly double cycle.
Besides the potential divergence there are no official signs for reversal so I believe we are going for further sells. My personal view is to look for retraces and sells with bearish evidences.
On the H4 chart currently it looks like the price has created three higher highs and three higher lows which may be considered as a possible definition for bullish trend. I may now look for two waves correction to happen and then I may look for possible buy setups with bullish evidences from the zone shown in the screenshot. There is a good chance that we are heading towards a new high on the weekly chart.
On the daily chart if the price breaks below the 61.8 fibo retrace level in one straight leg then this buy idea will be invalidated, until then my view remains bullish here.
In this pair on the daily chart we have a triple cycle with bullish divergence and the price is dancing around the psychological zone of 0.90.
On the H4 chart we had a false break and then the price moved higher and created higher highs, there are no three higher highs, higher lows in play yet.
Or alternatively the price might spike through with bullish divergence to form and then I may start looking for buys with more bullish evidences.
In this pair I have been expecting for sells and we got it but it was shorter than I was personally expecting after that the price broke the resistance and start to develop the second leg. All the divergences are currently gone for the longer view which opens the door for a possible rally all the way towards the 61.8 fibo level of the double cycle shown in the screenshot until the next divergence forms and then the price might move down.
We don’t have any signs against on the weekly and daily. On the H4 chart we have a short term cycle (I was looking for the short term sells but it never happened) and we may now expect a possible continuation higher, that is we may now look for correction and then further rally to happen.
In Gold the expectations were further to the upside after corrections and it paid amazingly.
Silver is very similar to that of Gold, the expectations were further to the upside after corrections and it paid amazingly. Based on the daily cycles there are no reversal signs, there could be corrections but it is still for the buy continuation.
In NASDAQ we had some retracing moves this week, we still need to pay attention to the 61.8 fibo level, the price spiked but it is still respecting it. The next move down might begin any moment.
If the price breaks above the 61.8 fibo level then this sell idea would be invalidated.
It’s the same with S&P 500, my view is very similar here, we had some retracing moves this week, we still need to pay attention to the 61.8 fibo level the price spiked but it is still respecting it. The next move down might begin any moment. If the price breaks above the 61.8 fibo level then this sell idea would be invalidated.
In Dax we wanted to see corrections and sell continuation, currently the price has created lower lows (confirmed on the MACD). Sell the rallies with bearish evidences still remains the plan for us.
This one moved exactly as per my plan and paid greatly. I may now expect corrections and then possible continuations lower.
On the weekly chart the price is building up a beautiful slow down with a potential bullish divergence.
On the daily chart the price starts to form a false breakout with bullish divergence. So marking the most recent trend lines as shown in the screenshot, if the price breaks above it then I may expect the bullish momentum to start and build up.
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