Hi Traders! Forex Weekly Forecast Text Format June 9th To June 14th 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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And here is the summary of the Forex Weekly Forecast prepared for you specially by my team.
In this pair our plan from previous week was to look for rallies and sells or to look for drops, rallies and then sells with bearish evidences, the levels we were watching for are 0.89 and 0.90. We got the little drop during the week, since then we have the rally with bullish hidden divergence, we are yet on the 0.89 and it still has the room towards 0.90 based on the cycle expansions. If this is going to happen then the price has to develop slowly as the leg shown in the screenshot with its own cycle and divergence.
Currently the expected bullish pressure continues and the way I would be looking for the sells would be, if we start to see false breakouts, then I would be looking for the breakout of the most recent trend line and then we may start talking about the sells. As long as it didn’t happen the pressure is still bullish.
In this pair we expected the second leg to develop on the H4 chart or to see the range. We got the second leg down but the only thing here is we do not have a bullish divergence, so technically I would not be surprised if we see a push lower with bullish divergence to form and then a rally as shown in the screenshot.
The plan is to get the drop right now and then we may start looking for the buys with bullish evidences. The daily is developing the hidden divergence as well.
Note: Keep an eye on the fundamental news.
In this pair our plan was to look for rallies and sells or weekly continuation. On the H4 chart we wanted to see one more leg, divergence to form and then to start looking for sells. So far the price is following our plan beautifully, we have the two waves, the price is in the divergence mode (in the big and small picture as shown in the screenshot).
The daily chart offers hidden bearish divergence so we may expect a sell continuation.
On the H4 chart until the trend line breakout holds we may expect a good move to the downside.
The critical levels shown in the screenshot are the ones to pay attention to.
In this pair we were expecting to see some bottom around the previous low on the daily chart and get the possible reversal signs. We wanted to see slow down on the H4 chart and higher highs to be created. We got the lows and we slowly start to see this pair possibly reversing. The way I see this, we should face corrective cycle, it could happen from the current zone or the price might create one more low, complete the divergence and then a possible push higher.
We may expect to see bounces and sell the rallies with bearish evidences is my plan.
In this pair I was expecting to see rallies during the week and start looking for bearish setups to continue with the weekly trend. The rallies did happen during the week but the weekly view is now changing and it might behave like a double bottom and holding a very powerful movement of 0.65 supportive area, divergence is forming so I wouldn’t rush into the longer term sells right now.
The focus here is to look for pullbacks, which is likely to happen soon, (also the levels) and very likely we might see deeper movements, second leg developing.
On the H4 chart in the way it develops right now, I would expect some fights around the area shown in the screenshot, I would expect to see the divergence taking place, making some correction and providing further rallies opportunities.
In this pair we again became bullish with the break of the trend line and higher highs, the expectations became further to the upside. The weekly cycle suggests us further rally as long as the daily doesn’t have anything against.
So basically the plan is rallies, for those of you who missed these opportunities then the plan is to look for retraces with bullish evidences and then possible buys.
On the weekly chart the price has created a possible cycle with bullish divergence so we might be experiencing some corrective cycle here. We also have a beautiful engulfing with a gap as well.
We have a false break and there are several candles in a row which creates higher highs, higher lows.
I believe the price might be going to the upside so retraces and buys with bullish evidences would be my plan here.
In this pair my plan was to look for sells. The daily rallies are slowing down, we have false breakouts with bearish divergence, we also have a beautiful engulfing with one more verification candle right on the psychological level of 1.35, the view now is more bearish based on the fundamental news.
Our plan during the week was to get two waves after the triple cycle down. We got the two waves and also bearish hidden divergence had formed, we had a breakout of the trend line and great continuation down.
In this we wanted to see the rallies happening, break of the highs, retraces and buys. Price is moving as per our plan, the rallies are happening so we may look for retraces and buys with bullish evidences.
Gold is behaving very similar to that of Silver. On the weekly chart the price is building up the second leg, 1370 or higher should be our target.
The daily chart should fit in this leg as a cycle by itself.
In Oil we reached the destination and now the price is bouncing very close to the psychological level of 50. We got a beautiful bounce and hold, so we may expect some rallies from this point. This is my general view on Oil and there is nothing I am planning to trade here now.
US Dollar Index
In this our plan was to look for trend line breakout and lower lows, the price moved exactly as we expected and we may expect the price to go lower further. Retraces and sells with bearish evidences is my plan here.
In Dax we wanted to see the bearish continuation until we face divergence. We got the drop and the divergence. My long term bearish view remains on but I would be careful here because of two reasons:
1. The first one is the excitement that the FED brings to the market with possible cut of the rates.
2. The second thing is the price might behave like a triple double so if we break above the trend line then its a neutral sign for me and I will be waiting for clear opportunities.
In this the long term sells came with the monthly engulfing, we were expecting the low to finish and the rallies to happen. This is exactly what’s happening here, again we need to be careful here because of the FED excitement and also the price might behave like a triple double. If the price crosses the 61.8 fibo retracement in one straight leg then my view becomes neutral here, I will then waiting for clearer opportunities.
The ideal scenario here would be the one shown in the screenshot. If this happens, we may then discuss about sells again.
In this my long term plan is for the buys, nothing really changed here. Our expectations are still long term continuation to the upside until the invalidation level holds.
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