Hi Traders! Forex Weekly Forecast Text Format August 25th To August 30th 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 on the daily chart we were expecting the price to create two waves and play inside the bigger range zone where from we will be able to try the sells later on. The price is building up the second leg and the price is approaching towards the 50% of the daily triple cycle. The zone shown in the screenshot should be a good one to start looking for the sells with bearish evidences (currently we don’t have any bearish regular divergence so we might see a deeper correction or the price might create a hidden bearish divergence).
On the H4 chart there is no ending divergence in play at the moment, that’s what makes me think that the correction to the upside is not over and there is a good chance that we might see the price pushing even further. So the way I see this, until the price holds above the critical levels or the trend line shown in the screenshot the price might move higher on the short term.
Once the H4 and daily divergence would form we would return to the main idea that we had before from the weekly cycle that is going for the sells.
In this pair we were bullish and we were expecting the price to reach the 1.0610 area. The price has reached the 1.0610 area and the correction started. According to the weekly the pressure is still bullish (last divergence is bullish). According to the daily the momentum after the breakout of the trend line is still there, no ending divergence or so to end this run. Therefore we may treat it as a corrective cycle which we will want to go and buy further exactly as we originally planned in the previous week.
Or alternatively the price might move inside a range, we may then start looking for buys with bullish evidences.
Basically we should be paying attention to the supportive area which goes around 1.0520 down to 1.0480, we do have the 200 MA which continuously holds the bullish momentum on H4 and currently we are above the daily as well. The closer we get there the stronger the pressure to the upside should be.
In this pair the bearish pressure remains on and the expectation was to see a new low reaching on the daily chart. The price created a new low on the daily chart as we expected. Currently we don’t have any trend reversal signs yet, therefore the pressure is still bearish, we may experience retraces but I believe there is more to come towards the downside. However because of the divergence that we start to see on the daily chart and H4 chart starts to slow down as well with the moving average and the fact that we are dancing around the psychological level of 0.85, this would be a good place for a cash out.
In this pair the idea from previous week was to look for two waves and sells. The price moved exactly as we expected, we got the two waves with a flat top (it didn’t make a new high but the divergence was there) we also had a mini false breakout and trend line breakout with lower lows existence. The cycle we are trading here is the daily triple double that means we are aiming to the 100% fibo level, this place is classical for the bullish divergence to form, therefore the pressure still remains bearish for us. The idea is also bearish in the developing trend, on the MACD we can see the classical bearish existence (no bullish divergence).
On the H4 chart the price is coming down after bearish divergence and crossing the bottom to the negative zone on the MACD. The weekly is also riding the bearish momentum on the MACD. This is a beautiful price movement so far and there is a good chance that this pair might continue to the 103 zone or may be even much lower in the future. Meanwhile the pressure remains bearish and sell the rallies with bearish evidences is still the plan.
In this pair our expectations from previous week was to look for a new low on the H4 chart while we are surrounded by the area of 1.10. We got the new low created around the 1.10 area, we have two false breakouts with bullish divergence and convergence principle. Daily is also building up a bullish divergence, we also have bullish divergence on the weekly (you can see the tick upside on the MACD) and the fact that we are holding the psychological level. We are still holding the clearance area as shown in the screenshot, the H4 chart is making higher highs and the price might change the direction where I am personally going after buys. I think this is the place where we might be exposed to corrective cycle or much deeper.
In this pair we were trading the two waves on the daily timeframe and we got paid, the price reached the 50% of the triple cycle. Currently we start to develop some bearish hidden divergence.
The H4 chart also starts to slow down with its divergence on the histogram so in my POV this is a great place to cash out. There are no evidences for the sell and they do not fit in the cycle that currently exists on the monthly and weekly combo, so its only a partial cash out because the higher timeframes are still bullish and after any sort of retraces I believe there is more to come. If a correction does happen and provides another fresh buy opportunity you can take the closed partial profits and bring it back into the buy position with the total exposure.
In this pair I wanted to see the price building two waves up before going into the future sells again. The two waves are building up beautifully on the daily chart, there is a bullish divergence which brings the probability of a triple cycle.
The idea is that this could turn to be a corrective cycle by itself (meaning two waves on the daily chart is there). The price could also create a bearish hidden divergence. There are no signs for the next sells which I would be expecting once the price crosses the clearance zone. On the H4 chart there is no valid correction, we are holding the last two candles of the rally and the range is not broken. This brings back the possibility that this is only the first leg and after retraces we could be exposed to deeper moves. There is one level to pay attention to around 1.24, 1.25 where a banking zone and a lot of former resistance and support zones are located.
So there is a good chance that the price might move slightly higher in the current direction. Also if we observe on the H4 chart the cycle could be broken into anything like what is shown in the screenshot. This means the 50% fibo could be reached in play and this brings us to the same zone.
For the long term there is no trend change yet however in the shorter view the correction is still in play and I do think it should take us a bit higher
After that as long as there are no trend change signs I would be looking continuously for sells.
As for now the short term correction that we started from the previous week still continues.
In this pair my idea from previous week was to look for two waves and sells. This one paid well, we got a flat correction, the second leg never managed to create a new high but it was holding the bearish momentum and with the break of the triangle pattern we got the continuation. New low is achieved. no divergences currently in play on the weekly and daily, there is no false breakout and higher highs. So the idea still remains bearish here.
In this pair I was expecting to see a pullback to the top of this range and sell or the hold of the triangle, little rallies and sell continuation. The second option is the one which is currently in play, we got the slow push holding the falling highs and move down. No reversal signs yet, we have only potential divergence and the trend is still under continuation.
As per the levels we can clearly see once the 100 fibo level is broken we are after the 161.8 fibo level or so. There is something to pay attention to which is the current 117 level which is a gap zone which could cause some fights but there is no trend change therefore rallies to be sold with bearish evidences is still the plan for us.
For those of you who are involved in sells already make sure to manage your positions and cash out partially or atleast trail your stop loss.
In this pair my plan from previous week was to look for the sells. The price moved exactly as we expected and created the new low. We could see that we are facing Bollinger bands duplication right now with some slow down, where the H4 is making it much clearer on its slow down where we would have the freedom here by cashing out and wait for the next signs.
This doesn’t change our long term plan, I believe we should be exposed to corrections and sell continuation. I do not see any reasons for the buys and I also do not see any reasons to hold the sells, so its closure of the sells and looking forward for the next opportunities.
In this pair my plan from previous week was to look for the sells. Currently the price is making its second push as we expected to see a new low and this low is developing.
The last leg from the daily divergence should form sort of a leg on the H4 chart and that could be developing by itself as shown in the screenshot.
In this pair we wanted to see deeper corrections as it’s facing sort of top with the divergence. The price was fighting and trying to make anything higher but the price is still holding the level shown in the screenshot with the same divergence.
This or the other way around the idea remains the same that is we may look for retraces and buys with bullish evidences.
In this pair we wanted to see two waves forming, currently the second leg is developing so we should be preparing likely for further buy opportunities.
The best way to see that happen is, first of all break of the trend line and if we start to create the structure of higher highs, higher lows we can then talk about next further buys.
In this pair my view was bullish and we were after buy retraces (two waves or a range). This pair formed a range for us, this range was holding and delivering its further rally.
On the daily chart according to the special cycle I would still expect the price to reach 38.2% up to 50% fibo retrace zones. So I keep my bullish view here and with any retraces I may look for buys with bullish evidences. Retraces on the short term are acceptable but the trend most likely shouldn’t change, I believe we are heading to deeper correction towards upside.
In Natural Gas the price broke the trend line on the daily chart and I continue my bullish view. So far the price didn’t break the main trend line but I still hold my bullish view here.
Gold after holding the H4 corrective range finally provided the two waves, bullish divergence came into play, we got the breakout of the trend line and continuation.
Silver has currently regained the momentum, it will take time until it completes the end so the view remains bullish here until we get the next divergence.
In this we had corrective cycle in play and our further expectations were to the downside. The two waves were completed and we got a false breakout with lower lows, these are the main factors here in display.
On the daily chart the price has created a mini hidden divergence. Only time will tell whether the big cycle on the monthly chart is ready to be in play but the false break definitely starts to look good.
If this month ends as bearish as it looks right now then that might be the beginning of something deep. So personally I think there is more to go and I continue to hold my bearish expectation and view here.
In this we had corrective cycle in play and our further expectations were to the downside. The two waves were completed and we got the lower lows. Currently on the H4 chart the price is trying to break the big trend line, it should be a good sign for trend continuation.
What cycle we trade here is very important because if we trade based on the daily cycle then price has reached the 38.2% fibo retrace zone. If we trade based on the massive long term cycle on the monthly and if it is going to end as bearish as it looks then this might be the beginning of something very deep. So after getting the two false breakouts and lower lows on the daily, making the convergence and two waves retraces and breaking it through as shown in the screenshot, if nothing changes fundamentally my view remains bearish here.
In Dax we wanted to see the two waves and then sells. Currently we got it (its much clearer on the H4 chart). We might get a straight continuation here after the correction as shown in the screenshot.
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