Forex Weekly Forecast Text Format June 28th to July 3rd 2020

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Forex Weekly Forecast Text Format June 28th to July 3rd 2020

Hi Traders! Forex Weekly Forecast Text Format June 28th to July 3rd 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:

EURUSD

In this pair, we had a triple cycle on the weekly chart and we expected the H4 chart to create two waves correction and then further continuation to the upside. We were looking for the important support zone to hold the price and start the reversal. The best setup here was to look for the price to break above the most recent downtrend line. The price moved perfectly as I expected, we got the two waves correction and then the price moved higher, broke above the downtrend line and started the rally and currently, it returned back to the same area.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

Personally I am still not confident that the bullish run is over ( I might be wrong) but the way I see this I think the price is just developing deeper two waves and once the price hits the next bullish hidden divergence, then the price might continue higher further.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

 

 

AUDCHF

In this pair, we were looking to trade the correction and after this correction is completed we were looking to see the rallies. Nothing much happened with this pair during the week, we got the correction and continuation lower (it was kind of a lazy move by the market).

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

My view still remains the same here. Once this correction (which currently looks like its developing in two waves) is completed I expect to see the continuation further to the upside until the price creates a big massive bearish divergence. So once this correction completes itself, in my POV it might develop a buy opportunity.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

 

 

AUDCAD

In this pair on my previous week’s forecast, I mentioned that there are two possible scenarios here. The first one is the break below the range and then to sell the rallies with bearish evidences. The second scenario is if the range holds then we may expect one more high before the sell takes place. The range was not broken and the price is holding inside it.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

So the plan remains the same here as per the second scenario, that is, we may expect to see a new high to complete the bearish divergence and then we may look for the sell opportunities with more bearish evidences.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

 

 

Sugar

In Sugar, my idea from the previous week was to look for the triangle breakout or to look for a deeper correction in the form of an ABCD pattern. and then to look for a rally. We didn’t get a breakout of the triangle pattern instead the price is making the correction in the form of an ABCD pattern.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

My view remains the same here, I expect this correction to complete with a bullish hidden divergence to form. Once the price reaches the very strong support zone shown in the screenshot below we may then expect the price to make a rally to the upside.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

The best thing to do here is, once the bullish hidden divergence completes itself, go to lower timeframes and look for the price to create a bullish trend in the form of higher highs, higher lows pattern, we may then expect further continuation higher.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

 

 

Bitcoin

In Bitcoin my view from the previous week was to look for a correction in the form of a triangle pattern or in the form of an ABCD pattern on the H4 chart. The correction happened in the form of an ABCD pattern and then the price broke below the most recent uptrend line and is moving lower.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

My view still remains the same here and I expect the same scenario to happen here as we discussed in the previous week. That is after the triple wave to the upside I expect a corrective cycle to develop and complete on the daily chart.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

 

 

EURGBP

In my POV this pair is preparing to create the top and it should be somewhere around the area shown in the screenshot below before the next move down develops.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

There are two important levels that we mainly need to pay attention to they are the 61.8% fibonacci expansion level of the first wave which is currently in play. The next level is slightly higher which is the 100% fibonacci expansion level of the first wave, we also have a potential bearish divergence.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

On the H4 chart too we have a potential bearish divergence that is developing.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

The best setup in my POV is the daily uptrend line breakout.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

Then mainly on the lower timeframe I want to see the price to start and develop bearish signs, meaning we have one false break, I want the price to create one more false break followed by a bearish convergence.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

The alternative scenario here is after the move higher we may expect the price to create a bearish trend pattern making lower highs, lower lows, we may then expect further continuation lower.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

As you can see in the screenshot below we have fantastic pivot areas and these are the zones where I would be looking for the reversals to start and develop. I believe the next several weeks should be very interesting to follow in this pair.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

 

 

EURCAD

In this pair on the longer view, we didn’t complete the bearish divergence after the rally the last divergence here is the bullish hidden divergence which is in play.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

The price has created a massive rally on the weekly chart and then we had a drop, this drop was dancing for a while until it managed to create a bullish hidden divergence.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

On the daily chart, the price is holding in a very strong supportive area right on the psychological level of 1.50 making the bullish divergence on the bottom. Mainly we have the highs and lows going higher.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

On the H4 chart too the price is making an attempt to create higher highs, higher lows pattern. Currently it is ending with the potential bearish divergence, which personally makes me think that we might face some correction before further continuation to the upside.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

In my POV as long as the price holds the higher highs, higher lows pattern I would be expecting this pair to continue higher further after corrections.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

 

 

NZDCAD

In this pair, I expect the price to reach a very strong resistance zone on the daily chart as shown in the screenshot below. We also have several clearance zones coming from the downtrend around the same area and the psychological level 0.90 is not far away. So the way I see this pair, we should see the price heading towards this massive resistance zone to complete the bearish divergence and from there we may expect a correction to happen.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

Also if we take a look at the pivot points we have two strong resistance zones that have formed as shown in the screenshot below. So I expect the price to move higher towards these resistance zones and then we may expect a correction to happen here.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

 

 

Gold

In Gold, the price is very close to the all-time highs and the RSI indicator is coming to an overbought area.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

The way it starts to form on the lower timeframe hints that, the sooner the price reaches the area shown in the screenshot below, the stronger the pressure would be for the bears. We have a bearish divergence that is developing here as well.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

On the H4 chart, I want the price to complete its own cycle with bearish divergence. Based on the fibonacci expansion levels of the cycles, we have two strong resistance zones that have formed. I expect the price to be blocked from any one of these zones, we can’t say where exactly it will happen.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

We need to follow up and see where the price creates one or two false breaks followed by a bearish convergence and the most recent uptrend line to be broken, then it should be a good sign for the bearish move to happen.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

Based on the Forex Crystal Ball statistics 1st, 4th and 7th are the very powerful days to pay attention to.  Around these days the tops tend to be created (historically) and this is where I expect to see some good bearish signs and action to happen.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

 

 

SP500

In SP500 my idea from the previous week was to trade the correction of the triple cycle. On the H4 chart, we had a triple wave to the downside followed by two waves to the upside followed by the breakout of the most recent uptrend line. So far so good, the price is moving perfectly as I expected, we had a nice move here as shown in the screenshot below. The double top is holding with the bearish divergence in play and then the price is moving lower exactly as per my plan.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

Based on the current scenario, the price is still in the corrective mode after the beautiful cycle with bearish divergence on the daily chart.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

We have a very good hold of the level as shown in the screenshot below after it has been cleaned, we also had a false break.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

On the H4 chart, we had a bearish trending pattern followed by a correction in the form of two waves and the breakout of the most recent uptrend line.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

The best part that I like here is the creation of lower highs, lower lows pattern which in my POV hints continuation lower until the second leg of the correction is completed.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

The only thing that we need to pay attention to here is, in trending pattern we cannot accept the price to go above the 61.8% fibonacci retracement level in one straight leg. If this happens then my view becomes neutral here.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

Also, I do love the massive dark cloud candle pattern on the weekly chart, this might be the beginning of something big but its too early to judge now. But this should be a very interesting one to follow.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

 

 

Apple

On the daily chart, we have the ending structure coming in play as shown in the screenshot below, and also we have a bearish divergence on the RSI indicator.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

We also have 20 candles ride on the upper band of the Bollinger Bands.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

So I would expect to see some good pullbacks here.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

Also on the weekly chart, we have a false break of the alternative trend line.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

In addition to this, based on the fundamental events, Apple has closed some of its stores in different locations. And with the new pressure coming in the market, it starts to look like this could be a very interesting opportunity to enjoy some good correction.

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

I have more instruments in my list which I will cover this week in the Live Market Analysis in Traders Academy Club.

This is how the report looks like. A table with the hottest market opportunities, screenshot behind every pair and time frame (anything that is in blue inside the table is clickable and leads to a screenshot) + a summary in text format, kind of highlights. And of course Live Market Analysis every single day. If you want to enjoy similar trading ideas as they come live (we run our Live Market Analysis on daily basis, where we analyze the market choosing the synchronized opportunities as we see them) I invite you to join our Traders Academy Club

Forex Weekly Forecast Text Format June 28th to July 3rd 2020

Note: Bullish evidences could be in the form of candle stick patterns, false breaks, trend line breakout etc… supporting the bullish view and bearish evidences could be in the form of candle stick patterns, false breaks, trend line breakout etc… supporting the bearish view.


Once again I invite you to join me in my Live Market Analysis, on daily basis, and improve your trading with us.

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I wish you a wonderful trading week

 

Yours for your success,

Vladimir Ribakov
Certified Financial Technician

 

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kavegood
kavegood
15 days ago

thank you

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J.B. Maverick
J.B. Maverick
15 days ago

Oh – also – thank you VERY MUCH for providing a TEXT version – I hate sitting through videos.

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J.B. Maverick
J.B. Maverick
15 days ago

Vladimir – Thank you very much for your insightful weekly commentaries. I always take what you say into consideration with any of my longer term trades. Helpful insights that go deeper than that of most other analysts – like “Based on the Forex Crystal Ball statistics 1st, 4th and 7th are the very powerful days to pay attention to” – are very much appreciated.
Best wishes,
J.B. Maverick

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