Forex Weekly Forecast Text Format December 1st to December 6th 2019

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Forex Weekly Forecast Text Format December 1st to December 6th 2019

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Hi Traders! Forex Weekly Forecast Text Format December 1st to December 6th 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!

Forex Weekly Forecast Video:

And here is the text format of the Forex Weekly Forecast prepared for you specially by my team:

EURNZD

In this pair the weekly is still in a bullish trend pattern that is we have three higher highs, higher lows pattern followed by two waves retraces with a bullish divergence and trend line breakout. After this we are recreating the higher highs, higher lows to gain a trend and right now we are very close to create a bullish hidden divergence in the coming week with likely continuation of the trend.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

The daily chart has a bullish trend pattern as well with beautiful two waves retrace, currently it also fits inside a range and the price is at the bottom of it close to the dynamic supportive 200 moving averages.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

 

And the rising trend line shown in the screenshot below, every low to be created or every drop down is an opportunity for us to start looking for the buys with bullish evidences (candle stick patterns, false breaks, trend line breakout etc…).

Forex Weekly Forecast Text Format December 1st to December 6th 2019On the H4 chart the price is already creating a slow down with fake lows so I would not be surprised if we see one or two more lows with false breakouts and higher highs. The moment we get higher highs and we start to create higher highs, higher lows pattern this is the time to get ready for the buy setups.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

Based on the Crystal Ball statistics we can see that the price is entering an important period, the days shown in the screenshot below are the most powerful ones which is from the beginning of this week to the next two weeks for the bottom to be created. So every low here should provide a fight by the buyers and for us an opportunity to go and enjoy the buys.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

 

 

EURCAD

On the H4 chart the price created the two waves down and basically we are now looking for bullish evidences (candle stick patterns, false breaks, trend line breakout etc…). We don’t have the bullish evidence on the H1 chart, we started with the two waves and currently it looks like we are now into two deeper waves to create a third high and as long as it didn’t create it we don’t have a bullish evidence.  Forex Weekly Forecast Text Format December 1st to December 6th 2019On the H4 chart we might see another drop with bullish divergence to provide further deeper buys.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

On the daily chart we have two up trend lines and a buy zone as shown in the screenshot also keep in mind that the price is moving inside a bullish channel.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

We have two options from here, the price might create a new low or a double bottom with bullish divergence and then we may look for a trend line breakout in order to join the buys.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

Or alternatively the price might create three higher highs, higher lows followed by corrections and then possible buys.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

 

 

GBPCAD

On the daily chart we have a special cycle, the price has reached a clearance zone where the downtrend line coincides and also we have a bearish divergence.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

We didn’t get the three lower lows, lower highs pattern on the H1 chart and we are yet to see a clear pattern. On the H4 chart we might see the price creating lower lows, lower highs pattern and then the price might provide deep sell the rallies opportunity with bearish evidences (candle stick patterns, false breaks, trend line breakout etc…).

Forex Weekly Forecast Text Format December 1st to December 6th 2019

Or ideally the price might start and create false breakouts then the turn around with the convergence and then we may look to sell the rallies with bearish evidences (candle stick patterns, false breaks, trend line breakout etc…).

Forex Weekly Forecast Text Format December 1st to December 6th 2019

On the daily chart we are dealing with a classical zone to look for bearish setups. If the price create new highs then it should be fake highs and provide immediate response by the bears.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

 

AUDNZD

On the H4 chart the price has created a triple or special cycle and the price has currently reached an important support zone, we also have bullish divergence that has formed, so we might face potential reversals here.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

 

We need to verify the reversal on the H1 chart, we have a false breakout and creation of higher highs with the convergence would be a classical verification here (of course we might get one more false break and then the convergence will be compared with the most recent high).

Forex Weekly Forecast Text Format December 1st to December 6th 2019

Or alternatively we may look for three higher highs, higher lows pattern and then we may look to buy dips with more bullish evidences (candle stick patterns, false breaks, trend line breakout etc…).

Forex Weekly Forecast Text Format December 1st to December 6th 2019

In the long term the price might move lower and create a double wave down as shown in the screenshot below until it all builds up a divergence and then the price might possibly turn around and move higher.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

Based on the Crystal Ball statistics 3rd, 6th, 7th and 9th are very powerful days. The first one and a half weeks of the month are critical and likely to provide us the bounces that we expect to see.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

 

 

NZDCAD

My view didn’t change in this pair and it remains the same that is to look for retraces and buys with bullish evidences (candle stick patterns, false breaks, trend line breakout etc…). There are two possible scenarios here, we may look for the price to break above the top of the range and then possible continuation to the upside, until the price is blocked with bullish divergence.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

Or alternatively the price might create a deeper correction back to the uptrend line and then the price might continue further to the upside.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

 

 

USDCHF

In this pair my view still remains bullish, I believe the price still has room higher and buy dips with bullish evidences (candle stick patterns, false breaks, trend line breakout etc…) is still my plan here.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

On the H4 chart we may look to buy the retraces, of course we might face here some deeper retrace right back to the trend line but even if that happens my plan still remains the same that is to buy retraces with bullish evidences (candle stick patterns, false breaks, trend line breakout etc…).

Forex Weekly Forecast Text Format December 1st to December 6th 2019

I believe there is more to come, I think the price is going at least to the 61.8% fibonacci expansion level of the cycle at 1.00745 very likely as shown in the screenshot below.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

 

 

EURGBP

In my POV this pair is not ready yet for the bullish direction, I think it needs to structure itself until the price hits and completes the bullish divergence. The important support area shown in the screenshot below is where I would like to see reversals to the upside to slowly begin.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

On the H4 chart if the price creates new lows then I think we should be looking for bullish evidences and then we may look for potential buys.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

 

 

GBPCHF

In this pair on the daily chart we have a triple cycle and we have a massive resistance zone that has formed as shown in the screenshot below, we also have a bank zone that coincides with this massive resistance area. The closer we get to the psychological 1.30 level the stronger the pressure would be for the bears.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

In the H4 chart the slow down on the divergence started we have the price pattern as shown in the screenshot. So I believe we are going to face here some false breakouts and once the price creates the convergence, we may then look to sell the rallies with bearish evidences (candle stick patterns, false breaks, trend line breakout etc…).

Forex Weekly Forecast Text Format December 1st to December 6th 2019

Or alternatively if the price creates three lower highs, lower lows pattern we may then look to sell the rallies with bearish evidences(candle stick patterns, false breaks, trend line breakout etc…).

Forex Weekly Forecast Text Format December 1st to December 6th 2019

 

 

GBPNZD

In this pair on the long term my view is bullish until we get opposite divergence, I think the second leg is developing now and there is much more to come.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

On the daily chart the price is moving inside some sort of a flag pattern with the idea of the continuation of the trend. We already have higher highs, higher lows in play, we hold a massive uptrend line as shown in the screenshot below in the psychological area of 2.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

With the break of the downtrend line, on the H4 chart I would like to see the price creating three higher highs, higher lows pattern so if that happens, we may then start in to the buys.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

 

 

USDJPY

In this pair on the daily chart I believe the price is coming to an ending rally, I would like to see the price reaching closer to the psychological level of 110 and the price to create and complete the divergence, then we should be exposed to some sells.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

On the H4 chart the price needs to create some false breakouts and slow down in this rally, closer to the top of the channel with divergence to go and complete here, we may then look for the sells.

Forex Weekly Forecast Text Format December 1st to December 6th 2019Or alternatively if the price creates new highs without false breaks then we may look for the price to create three lower highs, lower lows pattern for the trend change and then we may look to sell the rallies with bearish evidences (candle stick patterns, false breaks, trend line breakout etc…).

Forex Weekly Forecast Text Format December 1st to December 6th 2019

Based on the Crystal Ball statistics the 2nd of the month is an important day but the main part would be after the middle of the month. This is another reason why I believe we are yet to create the push to the upside until we create the false breakout and complete it, we may then look for the sells with more bearish evidences (candle stick patterns, false breaks, trend line breakout etc…).

Forex Weekly Forecast Text Format December 1st to December 6th 2019

Until then the bullish pressure remains on and I believe the price is heading towards the important resistance shown in the screenshot below.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

 

 

Bitcoin

On the daily chart the price has created a triple cycle to the downside with bullish divergence in play based on the MACD indicator and also RSI is creating higher lows as you can see in the screenshot below.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

We have a massive clearance zone closer to the 7000 psychological level.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

Currently on the H4 chart we start to create the higher highs, higher lows pattern which might create a trend change and I believe buy retraces with bullish evidences (candle stick patterns, false breaks, trend line breakout etc…) would be the right thing to do here.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

We should be careful here because if the price crosses and holds below the 61.8% Fibonacci retracement zone at 7014.69 in one straight move then it would eliminate our bullish view.

Forex Weekly Forecast Text Format December 1st to December 6th 2019

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Yours for your success,

Vladimir Ribakov

 

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A very good format! Thanks!!

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