Forex Weekly Forecast Text Format September 20th to September 25th 2020

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Forex Weekly Forecast Text Format September 20th to September 25th 2020

Hi Traders! Forex Weekly Forecast Text Format September 20th to September 25th 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!

Forex Weekly Forecast Video:

And here is the text format of the Forex Weekly Forecast prepared for you specially by my team:

USDCAD

In this pair on the weekly chart, we have a very strong support zone around the psychological round number 1.30.

Forex Weekly Forecast Text Format September 20th to September 25th 2020After a serious spike through the previous highs, the price then retraced from one Bollinger Bands to another, and currently it is in the zone of 50% deviation.

Forex Weekly Forecast Text Format September 20th to September 25th 2020On the daily chart, we have a beautiful bullish divergence which we could see on both the moving averages and histogram of the MACD indicator.

Forex Weekly Forecast Text Format September 20th to September 25th 2020Based on the RSI indicator we have a strong resistance and I wanted to see the price establishing itself above the 50 level on the RSI indicator.

Forex Weekly Forecast Text Format September 20th to September 25th 2020

And then I would expect to see the price continue further to the upside atleast towards the zone of 200 moving averages and the previous resistance zone shown in the screenshot below.

Forex Weekly Forecast Text Format September 20th to September 25th 2020On the H4 chart, the price has started to create some momentum pattern gaining the bullish trend, retesting the broken supportive zone. This support zone holds for a while now.

Forex Weekly Forecast Text Format September 20th to September 25th 2020Currently, this pair is having a hard time gaining serious momentum. However, it has all the reasons from the higher timeframes and the first rally pattern shown in the screenshot below for a potential continuation higher. So the way I see this, the price might be breaking through the range, retest it (assuming the price to hold this retest) and move higher further.

Forex Weekly Forecast Text Format September 20th to September 25th 2020We do have a strong resistance zone as shown in the screenshot below so we do want to see the price going above that, retesting and holding above it and basically this should be a good sign for further continuation higher.

Forex Weekly Forecast Text Format September 20th to September 25th 2020In simple words as long as the price manages to hold the supportive zone shown in the chart below it remains bullish from my point of view.

Forex Weekly Forecast Text Format September 20th to September 25th 2020

 

 

EURUSD

In this pair, we have a massive resistance on the weekly chart and my idea from the previous week was to sell the rallies with bearish evidences. This pair didn’t change much, the price remains in the same zone and my idea remains the same here. Personally I believe every rally for whatever reason it comes should be considered as an opportunity for the sells with bearish evidences.

Forex Weekly Forecast Text Format September 20th to September 25th 2020This correction could happen inside some sort of a range.

Forex Weekly Forecast Text Format September 20th to September 25th 2020Or alternatively in the form of an ABCD pattern.

Forex Weekly Forecast Text Format September 20th to September 25th 2020So my personal view remains bearish here and I expect the price to continue lower.

 

 

GBPUSD

In this pair, my idea from the previous week was to expect pullbacks and then further continuation lower. The pullback that I was looking for has happened and the price is currently facing a strong resistance zone (we also have one more resistance zone above this).

Forex Weekly Forecast Text Format September 20th to September 25th 2020The rally currently started to slow down as we have lower highs on the MACD indicator. Also, the 200 dynamic moving averages has started to change to the bearish slope.

Forex Weekly Forecast Text Format September 20th to September 25th 2020So my expectations from the previous week remain the same here and I believe the rally shown in the screenshot below would eventually create the opportunity for the price to complete the second leg to the downside.

Forex Weekly Forecast Text Format September 20th to September 25th 2020

 

CADCHF

This was a short term opportunity from the previous week. The price was around a strong supportive zone on the H4 chart and I mentioned that the price should find the bottom onthe H1 chart with bullish divergence and make a reversal. During the week the price found the bottom and the bullish divergence has completed itself and short term rallies happened as I expected.

Forex Weekly Forecast Text Format September 20th to September 25th 2020The price didn’t really gain any significant momentum and as I explained in the previous week I don’t have any long term view on this pair at the moment.

 

 

GBPNZD

In this pair, my plan from the previous week was to see the price completing the ABCD correction on the weekly chart and the daily chart to follow up. So based on this, the plan on the H4 chart was to look for retraces and further continuation lower. The price followed my analysis exactly as I expected, we got the retrace and then the price continued lower.

Forex Weekly Forecast Text Format September 20th to September 25th 2020Currently, I want you to pay attention to the strong supportive zone which is very close to the round number 1.90 shown in the screenshot below. So the way I see this, the second leg shown in the screenshot below might end here.

Forex Weekly Forecast Text Format September 20th to September 25th 2020Then we may face another pullback here and later on, very likely the price might continue lower further.

Forex Weekly Forecast Text Format September 20th to September 25th 2020There is also a possibility that the level shown in the screenshot below would be simply broken and the price might restest and hold it.

Forex Weekly Forecast Text Format September 20th to September 25th 2020Both scenarios are possible here, whatever scenario happens my bearish view remains the same for the longer run. Also, we have three strong resistance zones to pay attention to as shown in the screenshot below and I would be looking for bearish evidences from these zones.

Forex Weekly Forecast Text Format September 20th to September 25th 2020If the price breaks above the 61.8% fibonacci retracement zone in one straight leg without delivering any bearish evidences and opportunities then its a warning sign for us. If this happens then we have to reanalyze and see how the new move will fit in the deeper analysis.

Forex Weekly Forecast Text Format September 20th to September 25th 2020

 

 

NZDCHF

(You can find the NZDCHF Technical Analysis And Forecast post which I covered in my blog this week here).

On the monthly chart, in the very big serious swings shown in the screenshot below, there is a bullish divergence holding at the bottom. Also, we got a fake breakout of the 0.55 psychological level, with the Harami candle pattern to hold after that and three months in a row the price has created higher highs, higher lows. We may consider these as strong bullish signs.

Forex Weekly Forecast Text Format September 20th to September 25th 2020On the weekly chart, the price which is dropping lower has created an extreme divergence and then we had a massive bounce.

Forex Weekly Forecast Text Format September 20th to September 25th 2020This bounce on the lower timeframe (daily chart) has already created two higher highs, higher lows pattern and then we had a double wave correction. So there is a very good chance that the price is rallying towards a new high to complete the three higher highs, higher lows pattern, and to complete the bullish move with the bearish divergence on the last leg.

Forex Weekly Forecast Text Format September 20th to September 25th 2020On the H4 chart, we got a very strong rally followed by a drop to the downside with bullish divergence. After this hold, the price which is moving higher has again created three higher highs, higher lows.

Forex Weekly Forecast Text Format September 20th to September 25th 2020Most importantly the price which was moving lower broken below a strong support zone and after the breakout, this zone was acting as a resistance zone. Currently, the price which is moving higher has broken above this strong resistance zone and is holding above it.

Forex Weekly Forecast Text Format September 20th to September 25th 2020So we need to pay attention to this support zone and the way I see this, as long as this strong support zone holds this pair has all the reasons to remains bullish and has the potential to continue higher further.

Forex Weekly Forecast Text Format September 20th to September 25th 2020

 

 

Dow Jones

In Dow Jones from my previous week’s forecast, I mentioned that I wanted to see the break of the last low to be completed on the H4 chart. This didn’t happen yet but technically speaking it has all the reasons for a bearish continuation and I would pay attention to the slowing down pattern shown in the screenshot below on the daily chart. If the price manages to break below the strong support zone shown in the screenshot below and the neckline of this slowing down pattern then there is a good chance for the price to continue lower further.

Forex Weekly Forecast Text Format September 20th to September 25th 2020In my POV as long as the resistance zone around the round number 28,000 shown in the screenshot below holds the pressure remains bearish and I would be looking for bearish opportunities with bearish evidences.

Forex Weekly Forecast Text Format September 20th to September 25th 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 September 20th to September 25th 2020

Note: Bullish evidences could be in the form of candlestick patterns, false breaks, trend line breakout etc… supporting the bullish view and bearish evidences could be in the form of candlestick 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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Also, you can get one of my strategies free of charge. You will find all the details here

 

I wish you a wonderful trading week

 

Yours for your success,

Vladimir Ribakov
Certified Financial Technician

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Daniel
Daniel
2 months ago

Thank you!
Have a nice day!

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Vladimir Ribakov
Vladimir Ribakov
Reply to  Daniel
2 months ago

Thank you Daniel you too

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