Hi Traders! Forex Weekly Forecast Text Format July 7th To July 12th 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 our idea from previous week was to look for possible sells from the critical zone around 0.90 – 0.91 with bearish evidences. We don’t have the structure of lower lows, lower highs yet, we also didn’t get trend line breakout yet. However we do have some kind of convergence idea on the small zone shown in the screenshot.
The zone (0.90 – 0.91) from the daily chart is yet critical, the price might spike and play around it but I do expect the price to start and provide us correction to the downside.
Again we would want to see some longer movement and some impulsive move to the downside for the continuation. Currently it looks like this pair is under bearish structure, we also have the bearish hidden divergence on the weekly timeframe, the MACD slows down, the candle is yet bullish. So be very careful with this one, we want to have clear signs and if you get yourself involved before we get official trend line breakout and swing low creating to the downside (lower highs, lower lows) be careful and keep lower risk. This is the bottom line in such conditions.
In this pair we were expecting sort of a retrace in the 61.8 expansion level, we are there right now so basically we may expect some sort of retrace here which further on might provide us the sells. Short term rallies are more than welcome but I do think we would have this pair moving lower. So sell the rallies was and remains the plan here.
In this pair our plan from previous week was to look for a cash out as we we were getting closer to the 1.30 zone. We got the cash out zone (we enjoyed several hundred pips profits with this trade) we got very close to the 1.30 and this pair cleans several clearances area, also it is developing continuing divergence on the double wave.
This is also confirmed by the H4 chart rounding conditions with the divergence.
So personally I think that we are now facing some zone where we could be looking for retraces to the upside. It is very likely to be short term but I believe this is the place to start looking for the buys with bullish evidences.
These buys could happen from the current zone or the price might spike through another low and the rallies. But I think based on the price action the smart thing to do right now is to look for bullish setups from around the area of 1.30.
Also if we take a look at the Crystal Ball statistics we can see that we have several powerful levels surrounding the 1.30 and we have classical days on 7th, 9th and 11th (strong range of bullish pressure). This is why in my POV this pair is around the area where we should be having some kind of bullish corrections.
In this opportunity we enjoyed great sells for couple of weeks. According to the weekly we still see the price going down and this plan doesn’t change here. Right now we are also facing a bearish convergence idea so sell the rallies with bearish evidences would still be our plan according to the long term journey.
In this pair our plan from previous week was to look for retraces and buys, we got the retrace and the buys. Currently we are facing a bearish divergence on the H4 chart which also comes in the daily as well, we have two timeframes bearish divergence which is a careful sign. The weekly divergence is still bullish and the daily is bearish so in such cases we have to wait for clearer signs.
Clearer signs could be two waves, breakout of the most recent trend line and then possible continuation upside.
Or alternatively we may look for a range, then breakout and continuation.
In this pair on the weekly chart we have a triple or double cycle and we have a bullish divergence in play.
The daily chart confirmed that the last leg from the weekly timeframe to be a cycle by itself, we also have beautiful divergence and the break of the downtrend line. These are good signs and in addition to this we are also facing a band to band movement. We may now expect retraces and further buy continuation.
So in my POV buy retraces with bullish evidences would be a good plan here.
On the monthly chart we have a special cycle with a ranging correction and the price is at the bottom of the range, so we may look for buy opportunities.
Weekly timeframe provided the two waves and the first rally and then we got opposite signs so we were waiting for the daily to provide good signs.
On the daily chart we have two waves correction and the price has broken above the most recent downtrend line. So basically we are in a position to start and look for buy setups.
On the H4 chart we got the trend line breakouts and slow down. We can also see the price attempting to create three higher highs in terms of swing points, so in my POV retraces and buys with bullish evidences is the plan until the invalidation level shown in the screenshot holds.
According to the long term cycle my view is bullish and I would expect the price to move as shown in the screenshot.
According to the weekly structure the only place where it still goes with is the false breakout and the most recent trend line breakout. The big trend line is not yet broken we then got two waves to the upside with bearish divergence so we were expecting retrace.
Now the retrace comes into play in the daily timeframe making the two waves, false breakout, higher highs and structuring upside.
So in my POV this pair might be going up, retraces and then we may look for buy opportunities with bullish evidences.
On the weekly chart we had a first move down cycle followed by two waves correction, and then another push. The one time spike here is very tricky and makes the whole setup kind of aggressive.
The monthly also falls into the category of bullish divergence.
On the daily we have two waves to the downside, bullish divergence with a false breakout followed by trend line breakout and climbing the highs. This is the place where I would start looking for the buys.
Note: Do not attack without any clear setups (clear setups could be two waves and a breakout or a range and a breakout).
In Gold we were after buys, retraces and rallies (in ideal 1460 – 1480). We got the retrace and the rally but this rally never managed to break through the barrier it has around the 1440. Personally I still think we are heading to the upside, we might get deeper two waves or some sort of range movement but I would still be looking for dips and further rallies.
In my POV as long as the trend line shown in the screenshot holds I don’t think the bears should be strong, retraces and buys with bullish evidences remains the plan.
For those of you whole followed my idea with Coffee for the long term, that is with the break of the massive trend line and the creation of the higher highs. We enjoyed the rally so far but now we see some sort of signs against, divergence is building up and this is a good place for cash out or atleast move stop losses to entry in order to avoid any possible retrace against us.
The daily has for us a beautiful structure of rallies and currently we are facing the move down to the bottom of the consolidation shown in the screenshot. The price has created a bullish hidden divergence pattern for us.
On the H4 chart we have a bullish divergence, we are facing higher highs and the most recent trend line breakout. So as long as the invalidation level holds we may expect the Ripple to provide us some buy opportunities.
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