Forex Weekly Forecast Text Format January 12th to January 17th 2020

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Forex Weekly Forecast Text Format January 12th to January 17th 2020

Hi Traders! Forex Weekly Forecast Text Format January 12th to January 17th 2020 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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EURGBP

On the daily chart currently this pair is in a corrective mode after making a beautiful bearish trend pattern to the downside which ended up with a bullish divergence. I believe we are now into a corrective phase which could lead us into two waves to the upside.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

Or alternatively the corrective phase might happen in the form of some sort of a range. This or the other way around my preferred view is to look for buys in the short term.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

On the H4 chart we have a bullish trend pattern followed by two waves correction and currently we have got the breakout of the most recent downtrend line. Nothing really  happened after this as this pair didn’t gain higher highs which is a suspicious sign which brings here two possibilities.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

The first possibility is that the price might move inside a little range before one more low is achieved with the bullish divergence to be rebuild and then we go for the correction.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

Also keep in mind that if the daily makes some sort of a range the price might then move inside that as well.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

So this is definitely a possibility to follow until we recreate some bullish divergence here and then the price might shoot to the upside.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

Assuming if the price develops the correction not in the form of a range and in two waves then the price has to build a bullish trend pattern. For that to happen we want to see the high shown in the screenshot below to be broken and then basically creating the three higher highs, higher lows pattern, we may then talk about buy retraces with bullish evidences (candle stick patterns, false breaks, trend line breakout etc…).

Forex Weekly Forecast Text Format January 12th to January 17th 2020

If the price holds the H4 chart range and refuses to break that then we may expect the second leg to the downside to be completed and then we may look for further buy opportunities.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

 

 

EURNZD

On the daily chart I believe the price is going to complete the correction as shown in the screenshot below and should move one more time to the downside to complete the bullish divergence.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

The way I see this on the H4 chart basically we got a cyclic mode from the top, ending with the bullish divergence and we are now in a corrective phase. As the second leg starts to proceed further I would definitely pay attention to the bearish divergence as shown in the screenshot below to form and by breaking below the rising trend line, I would then be looking to go with sell opportunities.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

I would not be surprised if the price makes one more push to the same high or potentially breaks above it to complete the bearish divergence and break below the uptrend line should lead for trend continuation.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

Some important levels to pay attention to are the massive resistance areas shown in the screenshot below and also to the next critical zones above them where we also have the downtrend line and the 200 moving averages coincides.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

 

GBPCAD

In this pair on the daily chart we have a triple cycle to the upside which is now making the corrective cycle and I believe this cycle would run and complete on the upcoming days/weeks, after that we should be exposed for further continuation to the upside.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

On the H4 chart we had a first leg to the downside with a bearish trend pattern followed by a two waves correction and we are now about to complete the second leg. I believe this leg should be completed and once we face the bullish divergence as shown in the screenshot below.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

Which will also be supported by the daily bullish divergence, we may then start talking about reversals and further buys. Meanwhile the bearish pressure remains on and I expect new lows to be created.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

 

GBPNZD

In this pair my long term view is bullish and I expect this pair to continue the rally. However on the shorter view in the daily chart we had a bullish trend pattern which basically is one of the reasons why I expect a trend continuation. We had two waves correction after that with a bullish hidden divergence.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

The H4 chart delivered for us a new trend which is ready to start, we are now waiting for the corrective phase which we currently got. We may now expect the price to break above the most recent downtrend line, ideally if this breakout is completed we would see a bullish trending pattern on the lower timeframes basically giving us a full package of verification and then we may talk about buy retraces. If it doesn’t break and moves lower then its a warning sign and we need to wait for the daily bullish divergence to complete.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

This is because the daily cycle never completed the ending bullish divergence so I would not be surprised if this pair tried to slow and clean the area shown in the screenshot below, complete the bullish divergence and then the price might start to shoot to the upside.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

 

AUDNZD

On the daily chart we have more than 20 candles ride on the Bollinger band indicator and the price didn’t visit the opposite band yet. The price completed the first move down and then it is slowing down with bullish divergence and the price is around a massive technical support zone.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

 

The H4 chart creates here some kind of extreme conditions, its not a classical ending divergence which could still be a concern.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

 

However we do already have the bullish trending structure and is definitely slowing down with the bearish divergence. Personally I would be looking to buy retraces with bullish evidences (candle stick patterns, false breaks, trend line breakout etc…).

Forex Weekly Forecast Text Format January 12th to January 17th 2020

This bullish view is valid as long as the price holds above the 61.8% fibonacci retracement zone. If the price breaks and holds below this level in one straight move then its a warning sign.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

If that happens we may expect the price to move further until the bullish divergence is recreated, we may then look to re-attack with more bullish evidences (candle stick patterns, false breaks, trend line breakout etc…).

Forex Weekly Forecast Text Format January 12th to January 17th 2020

 

 

NZDCHF

On the daily chart we have a beautiful rally with bullish trending pattern and a bearish divergence at the end of it.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

On the H4 chart we have a classical ending top  with a bearish divergence by itself and the Bollinger band indicator ride. We also have a first move down which can be broken down into a cycle movement which makes me think that we are now building up the second leg to the downside.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

After the bearish trend pattern to the downside and creating lower lows (swing lows) on the chart I believe we are now in a corrective phase which could be in the form of two waves and a trend continuation.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

Or ideally we might get some inner movement here as shown in the screenshot, slow down and then possible continuation to the downside.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

Personally I would be looking for sell opportunities with bearish evidences (candle stick patterns, false breaks, trend line breakout etc…) and expect this pair to continue lower.

Based on the Forex Crystal Ball statistics we can see that the last top was created right on the 27th and then we had classical reversals and currently the price is bouncing from the technical support level. But as we can see the channel starts to fall to the downside this is what brings me to the assumption that we are in a corrective phase so sell the rallies with bearish evidences (candle stick patterns, false breaks, trend line breakout etc…) would be my plan here.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

 

 

USDCHF

The way I see this, on the weekly chart the price is about to complete the second leg to the downside in the triple, double structure inside the long consolidation shown in the screenshot below. The bullish divergence is not yet in play, its building up.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

We don’t have any ending bullish divergence on the daily as well. So the way I see this we should be expecting one more low here.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

On the H4 chart we can see the bearish trend pattern, it is in triple double waves, the price is already slowing down with a bearish divergence. In my POV the zone shown in the screenshot is a very important one and we should expect move down. The price might try to create fake new highs, if it does then I would definitely be looking to enjoy the next sell opportunity.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

Its important to know that we have the 20 candles ride on the Bollinger band indicator on the daily chart so the price might be trying to dance here for a while until the upper band is closing up but it doesn’t change my expectations. As I said new highs to be achieved in my POV should be fake and even if we get them I would be looking for sell opportunities with next bearish divergence to form and complete.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

 

 

Gold

In Gold on the H4 chart we are currently building up some sort of a corrective cycle. So I would expect a two waves correction.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

Or alternatively a correction in the form of a range. So sell the rallies with bearish evidences (candle stick patterns, false breaks, trend line breakout etc…) in the short term is my preferred current plan.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

This is because on the daily chart I believe once the correction shown in the screenshot below is completed we should see one more high until the daily bearish divergence would be completed by itself.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

So I would be looking to sell the rallies and once we get a two waves correction with a bullish divergence.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

Or a range to complete then I would be looking to go and buy again.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

 

 

Ethereum

On the daily chart we have a bearish trend pattern and currently it is slowing down with a bullish divergence. As long as the low shown in the screenshot holds we should be experiencing correction to the upside.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

On the H4 chart the price has created a bullish trend pattern, the way I see this buy retraces should be a good plan here.

Forex Weekly Forecast Text Format January 12th to January 17th 2020

If the price suddenly goes below the 61.8% fibonacci retracement zone in one straight move then it will be a warning sign for us

Forex Weekly Forecast Text Format January 12th to January 17th 2020

But until then Ethereum could provide us some good buy opportunities. We may now experience here retraces now in the form of two waves or any sort of a range, after that I may look to find opportunities for buys with bullish evidences (candle stick patterns, false breaks, trend line breakout etc…).

Forex Weekly Forecast Text Format January 12th to January 17th 2020

Note: If you want to learn more about the divergences, I invite you to enjoy the videos in my channel here and also you can join Divergence University Course for full divergence education.

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I wish you a wonderful trading week

 

Yours for your success,

Vladimir Ribakov

 

 

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