Forex Weekly Forecast Text Format January 26th to January 31st 2020

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Forex Weekly Forecast Text Format January 26th to January 31st 2020

Hi Traders! Forex Weekly Forecast Text Format January 26th to January 31st 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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And here is the text format of the Forex Weekly Forecast prepared for you specially by my team:

EURGBP

In this pair based on the weekly cycle we are expecting two waves to the downside.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

According to the daily chart we have the first weekly leg down as a cycle followed by a two waves correction in play, we got a trendline breakout and then the price has created lower lows.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

On the H4 chart the price is moving to the downside and gaining momentum, we don’t have ending bullish divergence so I would not be surprised if this pair would enjoy from good bearish pressure with momentum and will provide opportunities to sell with the price pushing lower.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

Invalidation for this bearish setup would be, if we get a straight move above 61.8% fibonacci retracement level.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

 

 

EURJPY

This pair remains the same, as for now nothing has changed in this pair from the previous week and in my POV the pressure is still bearish. We have no signs against on the daily and H4 chart so basically I would not be surprised if the price pushes lower further until a bullish divergence is created.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

 

 

EURCHF

The price moved exactly as we expected and it is currently nearing the important technical support level 1.06 – 1.07. I am looking forward to see retraces now, retraces and ending cycle could be in the form of false break and then higher highs or alternatively the price might create three higher highs, higher lows pattern we may then discuss about buy retraces with bullish evidences.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

I  most likely expect a slow down to happen from the area shown in the screenshot below which has formed based on the fibonacci expansion levels of the cycles we have.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

In addition to this we also have a 20 candles ride on the Bollinger Band indicator and we might see some massive pressure around the area shown in the screenshot below. The pressure is yet bearish but pay attention to the reversal signs.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

 

 

EURNZD

In this pair my view remains bearish until the downtrend line shown in the screenshot holds and I would not be surprised if the price pushes lower until the H4 chart would creates a bullish divergence.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

And the daily would complete its own bullish divergence. Until then the pressure remains bearish and ideally I want to see the price reaching closer to the psychological 1.65 area, from there very likely we might see some serious move to the upside.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

 

 

GBPUSD

My personal view on this pair still remains bearish after the triple cycle to the upside on the daily chart and I believe this pair is yet to deliver the second leg down.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

I would be very careful here as on the lower timeframe the price has created three higher highs, higher lows pattern, if the price creates two waves down and breaks above the falling trend line then it would invalidate the bullish view.

Forex Weekly Forecast Text Format January 26th to January 31st 2020Because if the new trend really begins then we should see here three lower highs, lower lows pattern and the price gaining the momentum in the bearish trend, that is currently in the corrective cycle from the daily chart.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

 

 

GBPCAD

On the daily chart currently we got a retrace and a bearish hidden divergence which could be a nice interesting opportunity for the potential second leg to develop.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

For that to happen I want to see the uptrend line shown in the screenshot below to be broken and then we may look to sell the rallies with more bearish evidences.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

Or alternatively the price might create three lower highs, lower lows pattern we may then look to sell the rallies with more bearish evidences.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

My personal view is that the bearish pressure is still on and I don’t think the corrective cycle is over yet on the daily chart (its either going to be in the form of two waves or in the form of a range).

 

GBPCHF

On the daily chart the price reached the important technical support level and the bullish divergence ticked.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

On the H4 chart the price has created some sort of a double bottom, currently the price is trying to create three higher highs, higher lows pattern which is a good sign and I would not be surprised if the price tries to push it higher further.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

As long as the price remains above the 61.8% fibonacci retracement level I would be looking for possible buy opportunities with bullish evidences. If the price breaks below the 61.8% fibonacci retracement level in one straight move then this bullish view will be invalidated.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

 

NZDCHF

On the H4 chart the price is currently in a zig zag movement and I personally still think that the price is still going down for the second leg. I believe the price has created three lower highs, lower lows pattern followed by double wave correction. So I would not be surprised if we see one more push higher but my view still remains bearish here.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

 

 

NZDCAD

In this pair I was expecting the price to break below the range on the H4 chart to gain the momentum. Unfortunately the price is still holding inside the range.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

On the daily chart personally I think we are still under bearish corrective cycle which could play out in the form of two waves.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

Or alternatively in the form of a range, however sell the rallies with bearish evidences would be my preferred plan here.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

 

 

CADCHF

On the daily chat the price is in a very strong supportive area, we can see that the price is in a slowing down momentum with the bullish divergence.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

On the H4 chart we have both ending cycle and the channel, the way I see this, we are now in a corrective cycle and buy retraces with bullish evidences would be my plan here. The invalidation level for this bullish scenario would be the last low shown in the screenshot below.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

 

 

CADJPY

In this pair on the daily chart we have a triple cycle to the upside with a massive bearish divergence and I expect here corrective cycle to take place.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

The H4 chart is making us a classical pattern of lower highs, lower lows and I believe we are going to hit a bullish divergence as shown in the screenshot below, then make the retrace, which later on we may look to sell with more bearish evidences.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

Based on the Forex Crystal Ball statistics the last top was created on the 17th and 18th, since then the price is moving lower creating the lower highs, lower lows pattern. Currently based on this statistical indicator we are after buys which fits in the scenario which I explained above.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

The invalidation level for the sell plan would be the 61.8% fibonacci retracement level, if the price goes above this level in one straight move then this sell plan would be invalidated.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

 

 

Coffee

In Coffee on the H4 chart we got the slow down and the rounding  bullish divergence around the technical support level as we expected from last week. The next step for us here is to look for a turn around to happen in the form of three higher highs, higher lows pattern and then we may look to buy retraces with more bullish evidences.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

 

 

Cotton

In Cotton we have a triple cycle to the upside on the daily chart with a bearish divergence and I think the price is going into some corrective cycle.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

On the weekly chart we have a triple cycle to the downside so we may now expect a correction to happen. The price has created the first leg and currently the correction shown in the screenshot below is where the price is right now in a corrective move on the daily chart.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

On the H4 chart we have three lower highs, lower lows pattern so in my POV we may now look for sell opportunities with bearish evidences.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

 

 

NASDAQ

On the daily chart we have slowing down conditions (this is based on the current scenario and I am not going to talk about the very long term now).

Forex Weekly Forecast Text Format January 26th to January 31st 2020

On the H4 chart we have two false breaks and bearish convergence and I believe that this is a good sign that we should face some corrective cycle here.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

On the H1 chart I do want the price to complete the three lower highs, lower lows pattern then this setup would be much stronger.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

On the H4 chart if the price breaks above the 61.8% fibonacci retracement level then it would be a warning sign and would invalidate this bearish view.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

Also pay attention to the massive engulfing candle pattern on the daily chart which is a pretty powerful sign.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

 

 

Ethereum

On the H4 chart the price has reached the clearance zone as we expected from the previous week and is currently nearing the uptrend line zone. This is the place where I would be looking for the buy opportunities with bullish evidences. Basically I want to see the price gaining the bullish momentum by creating higher highs, higher lows pattern, we may then go and look for buy opportunities.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

Or alternatively we may look for a false break with bullish divergence followed by the most recent downtrend line breakout and then we may start looking for buys with more bullish evidences.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

 

 

Bitcoin

We have the similar scenario on the Bitcoin as well. The price is nearing the technical support zone formed by the clearance zone and the uptrend line. I would prefer to see the price creating a new low with bullish divergence followed by higher highs, higher lows pattern, we may then look to buy retraces with bullish evidences.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

This is a longer term plan, as I explained in previous week first of all we might experience the corrective cycle as shown in the screenshot below. Those traders who like the aggressive style could enjoy this move (so far this move delivers) and later on once this low is established I would expect a trend continuation.

Forex Weekly Forecast Text Format January 26th to January 31st 2020

 

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Ebinezar
Ebinezar
7 months ago

Well done team, as usual great effort

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Davison
Davison
7 months ago

Thanks a lot for the wonderful work guys. I truely appreciate it.

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Vladimir Ribakov
Vladimir Ribakov
Reply to  Davison
7 months ago

Thank you very much

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