28 Jan Weekly Forex Forecast (Jan 28 – 1 Feb -2019)
Now USDCAD Oversold and Looking for a Short-Term Bounce And We look to go long USDCAD for a quick trade with a time frame of one day to one week. The near five point drop this year has sent the pair into oversold territory -the RSI indicator at the bottom of the chart – and heading towards the 200-day moving average (1.3135) for the first time since late-October 2018. Just below here, 38.2% Fibonacci retrenchment at 1.3124 adds further support zone.
GBPUSD one of the currency pairs which we earn a lot last week continues its uptrend but right now facing resistance at 1.31800 – 1.31900 area and can drop try to test the support level: 1.29969 and the questions that 1% smart traders ask is if the price gonna breaks it or will go up to make a new higher high for confirming one more time the uptrend of GBPUSD . Pispamke can advice enter after you see the price is going down after testing the resistance for 30pips profits targeted only and waiting how the market is reacting during the US Session. We all know that the USD is affecting by the Shutdown at the United States but pay attention to USD News next week.
GBPNZD Still now on bullish trend so hopefully price next week goes up again for next resistance zone.
Pispamke The main trend is down according to the daily swing chart, however, momentum shifted to the upside with the formation of the weekly closing price reversal bottom. The main trend will change to up on a trade through 1.1570. A move through 1.1289 will negate the weekly closing price reversal bottom and signal a resumption of the downtrend.
The minor trend is up. It turned up on Friday when buyers took out the previous minor top at 1.1395. It was reaffirmed when they rallied through 1.1413 late in the session. The change in trend also shifted momentum to the upside.
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