03 Feb Weekly Forex Forecast (Feb 4 – 8 Feb -2019)
NZDCAD Doesn’t really get more textbook than this. Price was in yearly ascending channel broke into a descending channel . Price on daily tf is making a head & shoulder pattern. currently consolidating inside the the pattern. I expect price to breakout to the downside. Small risk big reward!!! Only hard part is holding profits until it touches support.
AUDCAD is approaching our first support at 0.9451 (horizontal swing low support, 100% Fiboancci extension, 38.2% Fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 0.9576 (horizontal swing high resistance, 61.8% Fibonacci retracement ).
RSI (89) is also approaching support where we might see a corresponding bounce in price. Let,s see what,s happen next week with AUDCAD.
EURCHF hopefully going to touch then next resistance level and next the resistance level work for supply zone for bearish movement .
and next hopefully price goes to touch support zone for next move.
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