Forex Weekly Forecast & FX Analysis December 14 - 18

EUR/CHF

The past week resulted in a significant decrease in the value of the euro against the Swiss franc. The downward movement can be clearly traced both on the chart and on the indicator. All indicators are trading in the negative area, and as for the price, within the last week it dropped below several important levels, and, which is very important, below the level of moving averages. Please note that now the price is close to the designated levels, which means that taking into account a combination of factors, you can consider options down.

NZD/USD

The New Zealand dollar continues to rise strongly against the US dollar. Despite the fact that last week the price moved to the right side of the trend line, the upward dynamics is still preserved and the currency pair continues to update its maximum values. In this case, indicators are either in the negative area or in the neutral position. It is too late to trade bullish, since the uptrend has been developing for a very long time and very impulsively. One can only expect a downward correction and try to open a descending contract, but this can be done only when the price is below the level of 0.7025.

EUR/RUB

The trades last week led to the fact that the price of the euro against the Russian ruble was below the important level of 89.848. The downward movement led to the sequential formation of two tops on the price chart, each of which was lower than the previous ones. If we consider a similar section of the market on indicators, then all indicators look up. Thus, we are talking about divergence, which means that we can consider options for trading up to the level indicated above. This assumption is reinforced by the fact that the level 89.848 has been repeatedly tested earlier and the price will pull towards it.

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AUD/CHF

This currency pair is consistently developing within a very wide range of 0.6585 and 0.6707. At the same time, the last week turned out to be extremely dominant in terms of growth, since the price was growing and indicators. As a result, all indicators were in the area above zero. The current price stage is near the upper border of the indicated range. Therefore, taking into account the strength of this range, we can consider options for opening a trade down. An alternative option is trading up, but such a contract can only be opened if the price consolidates above the 0.6707 level.

GBP/CAD

The triangle formation, which we talked about in the previous weekly review, has been completed. The market as a result made a strong downtrend after that. As a result, both the price and all indicators are in the negative area and renew their lows. Here and now, trading this currency pair is very dangerous, since the downward movement has already formed and is already underway. In theory, only options for trading down can be considered, but such a contract will be possible only after an upward correction.

NZD/CHF

The price of the New Zealand dollar against the Swiss franc is trading mainly below 0.6327 at the moving average level. The price is practically devoid of volatility and tends to neutral values. At the same time, the indicators look up, although all are in the negative area. Therefore, we can state the strength of the downward movement, but given that the downward contract is risky, primarily due to the fact that there is no volatility for the asset. Therefore, all contracts are opened minimally and for a short time. An upward trade can only be opened if the market consolidates above the 0.6327 level.

USD/CNH

The dollar continues its downward trend against the Chinese yuan. In the last week, trading has been conducted mainly below the level of 6.5473. At the same time, the indicators are very close to neutral indicators and do not show any specific dynamics. Moreover, the price itself is close to the designated level and cannot significantly move away from it. You cannot trade under these conditions. you need to wait for the first impulse movement and testing the indicated level. In which direction after that the market will start moving, in that direction and open a contract.