Hi Traders! Forex Weekly Forecast Text Format September 8th to September 13th 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 on the daily chart we were following the structure of triple double (triple cycle down followed by double cycle up) right to the middle of the entire move of the triple cycle and we expected to see reversals happen. On the shorter view we wanted to see the price action creating some fight before it turns down. Price created the triple double as we expected and on the shorter term we wanted to see the price fighting back and forth. The price is making the move down and rally, it didn’t manage to create a new high as the price was blocked by a massive resistance area around the psychological area 1.8250, blocked with the bearish divergence and starting the move down.
So my personal view didn’t change here and I still expect continuation lower, we might get a direct movement or we might see some fight and then the price might move lower and I expect the price to develop second leg to the downside. So sell the rallies with bearish evidences was and remains the plan for us.
In this pair we were expecting little retrace and further continuation to the upside. The price moved exactly as per our plan. Currently on the daily chart we have 20 candles Bollinger Band ride with some blockage of a bearish divergence on a strong resistance area.
So I do expect it right now to make the corrective cycle and in such structures normally it might develop two waves and once it is completed back to the fibo zones of the entire movement then I would be looking to continue buys.
As long as the area shown in the screenshot holds I expect the correction, the 200 MA is slowly changing here so getting close to that would be really great condition. By ideal we should also be able to see a bullish hidden divergence for trend continuation and then we will switch to buys. Meanwhile in the short term I think this is in a corrective cycle mode right now.
In this pair we were expecting the price to create a new low and then very likely to see some bounces. We got a new low (we got it continuing even further) and then the price made a false breakout on the alternative trend line, we are building a structure of three higher highs, higher lows. In simple words I would say as long as the 61.8 fibo retrace of this movement holds, the idea would be here to look for retraces and possible buy continuation.
As a corrective mode to the daily bullish divergence that is currently developing and also if we pay attention to the Bollinger Band we are in a straight band to band movement which was duplicated and we are facing 20 candle ride on the lower band with bullish divergence. As long as the 61.8 fibo retrace zone holds we should be experiencing some deeper correction further on.
In this pair we were expecting to see push to the downside closer to the 100% fibo level. The price reached very close to that level, cleaned the previous low beautifully and created a bullish divergence.
Now very likely this pair is in a corrective cycle so watching on the weekly chart there is a good chance that we might get a stoppage on the psychological level of 105 and while it holds I would be expecting to see some corrective cycle towards the zone of 108, 109.
The H4 chart supports this view by providing three higher highs, three higher lows, which makes a bullish structure. This makes me think that we should be likely to see shorter trend continuation towards the area of 108, 109.
Based on the Crystal Ball statistics we can see that 3rd is a very powerful zone for a bullish hold. We have a first movement with a retrace and we are above the channel, now we can see that the channel starts to round to the upside. As it was in the previous time the expectation here should be the same two waves, we should be facing two waves or atleast any sort of a ranging condition. On the 3rd of the month we had a beautiful hold in the area shown in the screenshot this is what makes me think that this pair is now in a bullish corrective structure.
In this pair we were expecting to see move down with the corrections ideally for a new low, we got that happened slightly below the ideal area then we got the move down and we made it work. Currently we have a special cycle with bullish divergence where the first leg inside the corrective mode might be happening now and the corrective mode could be two waves or a range. The fact that the current fundamental mess happening in the UK should help for the bulls in that case. Assuming there isn’t any crazy change and assuming the first leg is developing we can see the trending conditions clearly on the H1 chart we have the higher highs and higher lows so corrections and buys with bullish evidences should be the plan here.
Besides the false break we also have the convergence here which supports for the corrective cycle. The very important thing to know that this is the first leg in the structure of it and this is valid as long as we are above the 61.8% fibo. If the price breaks below the 61.8% fibo level in one shot then this idea will be invalidated. Meanwhile I believe we are into the corrective cycle in the form of two waves or a range.
In this pair we expected to see a new push to the downside, we got it happening all the way to 117 and lower, reached closer to the psychological 115. Right now we are in a blockage, we have a bullish divergence inside a cycle so my personal expectation are for a corrective cycle in the form of two waves or sort of a range.
In this pair our expectation was to see a new low and the H4 chart making its own stoppage. On the daily chart we got the move down which was blocked with bullish divergence. On the H4 chart we wanted to see divergence created by itself so the plan worked pretty classically. On the weekly chart currently it looks like we have a potential double wave cycle and the price is holding the psychological 0.6250 level (it crossed slightly below but its holding there).
There is a good chance that we are in some form of a corrective cycle which could be in the form of two waves or a range. Currently I think this pair should provide another push and I would be aiming to see the price going towards the clearance zone shown in the screenshot or ideally even higher.
The invalidation for this would be the rising trend line, if we go below that I would go neutral and wait to see what happens after that.
In this pair I wanted to see the two waves and rally. We got the two waves and then it turned into three waves and then we got the little rally (honestly it was smaller than I expected) but at that moment we got a ranging cycle after making false breakouts at the top and bottom inside the three lower highs, lower lows structure that makes it trading conditions. That’s why during the week I send the alert for the sell in the daily trading video which you could find inside my youtube channel.
Since there is no blockage with the current developing leg I believe there is slightly more to go to the downside, so I would be looking to sell the rallies with bearish evidences. By the way the current leg also supports the idea of the lower highs, lower lows which makes it pretty nice opportunity to look for sell the rallies.
Of course I would keep the whole bearish view as long as we are below the 61.8% fibo retrace zone of the developing movement. In other words we can say that it should fit in the falling trend line, as long as we are below it, I would be looking to sell the rallies in the short term.
In this pair on the weekly chart we have a clear cycling structure as shown in the screenshot.
On the daily chart we had a blockage with the extreme, false breakouts on the lows, holding the psychological level 0.65. If the price manages to break above the falling trend line shown in the chart then buy retraces with bullish evidences would be a great thing to do.
On the H4 chart the price is building up three higher highs, higher lows and I believe it should find a way to block the rallies around the area shown in the screenshot, create a corrective cycle and then it would be a good idea to look for further buy opportunities.
Based on the Crystal Ball statistics we can see that 11th to 15th fits in perfectly and if we get a correction towards these dates then buys should be the follow up with the supportive areas shown in the screenshot.
As per the bearish numbers first of all we can see the top is on 5th which didn’t provide any sell reasons, then next ones are far away therefore retraces and further buys makes lot of sense in that developing cycle.
In this we were bullish after the break of the small trend line and we wanted to see the break of the bigger trend line for a stronger momentum. As you can see Natural Gal turned to be one of the best trades at the end of the day, so enjoy your profits.
In Gold we have the cycles in the weekly and daily as shown in the screenshot, we also have two false breaks at the end of the triple cycle and bearish divergence.
On the H1 chart the price has created a structure of a bearish trend and any corrective cycle in two waves or a range would be acceptable for the sells. Sell the rallies with bearish evidences would be the plan here.
If we get one shot retrace above the 61.8% fibo level then this sell idea would be invalidated.
Of course it would be great to see the price breaking below the psychological 1500 level, if that happens then we open the doors for the corrective cycle on the daily and you can see the numbers in the screenshot that is 1450 down to 1415.
In Dax one of the scenarios that we were expecting was two waves correction in triple double structure. The price didn’t manage to hold the momentum for straight continuation and it developed the second leg to the upside which completes the corrective cycle and we are holding here a massive resistance area and also we are holding the downtrend line as well. We want to see the break of the rising trend line to start looking for the next sells.
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