Forex Weekly Forecast & FX Analysis December 21 - 25

EUR/CHF

For the euro against the Swiss franc, in fact, we can talk about the same as we talked about in the previous review. The past week led to a fairly strong growth, as a result of which the level of 1.0860 was reached, but immediately after that there was a reversal and movement towards the moving averages. The price is close to the designated level of moving averages and is approaching a new channel. Therefore, we can say that trade is still dangerous. It is necessary to wait in which direction from this price the price will move. The most likely is a move from the 1.0820 level.

NZD/USD

The main trend for this currency pair is still upward. Moreover, the upward movement is so strong that it hardly meets any correction. This movement is very well described by the oscillator, which has been trading exclusively in the area above 50 for more than a month. The histogram, although it is in the negative area, has a clear upward slope and demonstrates attempts to enter the positive area. Therefore, taking into account the totality of factors, we can only consider options for trading up. But, taking into account that the market is already at its maximum indicators, initially you need to wait for a downward correction.

EUR/RUB

The main idea for trading the euro against the Russian ruble is given by the price chart, which shows an attempt to fix the price above the level of 89.84 and above the level of moving averages. At the same time, the indicators look down, but this does not play a fundamental role, since this movement and direction is not pronounced. Therefore, we are talking about the fact that if the price manages to gain a foothold above the indicated levels, then we can consider options for trading up.

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AUD/CHF

Last week's trading in the Australian dollar against the Swiss franc led to a situation where the price attempted to consolidate above 0.6707. This movement completely coincided with the direction of movement of all indicators, which are also trading in the positive area and looking up. At the same time, we can say that the upward movement along the price chart not only broke through an important level, but also made a consolidation above this level. Therefore, we can talk about the possibility of trading up.

GBP/CAD

The trades last week led to a strong increase in the British pound against the Canadian dollar. As a result of the upward movement, the price not only rose above the 1.7177 levels, but also reached the level of the moving averages. If you look at the indicators, they do not give any specific signals for trading, since they are in a neutral position. In this situation, we can only wait and look in which direction the market will move. If the movement starts up and the price manages to gain a foothold above the level of 1.7300, then trade up. If there is a consolidation below the level of 1.7177, we trade down.

NZD/CHF

The past week has led to an upward trend for this currency pair. As a result, we can draw an upward trend line, which, together with the level of 0.6327, forms a triangle pattern. Indicators do not give signals for trading, but it is very important to note that they look up. Moving average levels also look up. Thus, an upward movement is most likely, but to open a contract, you need to wait for the direction in which the movement starts after exiting the triangle and only after that open a deal.

USD/CNH

The US dollar against the Chinese yuan as a result of trading in recent weeks allows for a side channel with the borders of 6.5048 and 6.5472. You cannot trade as long as the price is within this range. We wait in which direction this range will be broken and open a contract in the direction of the breakdown. Please note that all indicators are looking down, and for a long time downward dynamics has been dominating the price chart. Therefore, further downward movement is most likely, but if it will be possible to trade upward, then the contract should be opened with extreme caution.