Forex Weekly Forecast & FX Analysis January 18 - 22

EUR/CHF

For the first time in several weeks, the euro against the Swiss franc made a strong impulse movement in one direction, in this case down. The downward movement is also confirmed by indicators that have dropped to their local minimum values. It is very important to note here that the current local minimum on the price chart coincides with the previous local minimum, after which a strong upward movement took place. Therefore, the situation is very likely when the market will repeat the same situation, which means we have every reason to open an upward contract, especially since the current currency pair tends to the level of moving averages, and it is above the current price.

NZD/USD

The New Zealand dollar continues to develop an upward trend against the US dollar, but now there is every reason to consider the possibility of trading down as a harbinger of the end of the upward movement. First of all, it can be seen from the price chart, where for the first time in a very long time the price was below the level of the moving averages. Separately, you should pay attention to the histogram, which, despite the general price growth, has been in the negative area for a long time. Therefore, we can expect that the market will continue to form a downward movement and move down to the level of 0.7025

EUR/RUB

Last week the euro traded mostly down against the Russian ruble. As a result, this is reflected not only on the price chart, but also on indicators, each of which has declined and is in a negative area with local minimum values. It should be noted that the price for the first time in a long time was below the level of 89.84 and continued to go down after it. The current local minimum of the market coincides with the previous local minimum, after which an upward movement took place. Therefore, we can expect that the market will need an upward correction, which means that an upward contract can be opened.

AUD/CHF

The Australian dollar continues to gain ground against the Swiss franc. An upward trend is developing for this currency, which is confirmed both on the price chart and by indicators. It should be noted that the indicators are not able to gain a foothold in the negative area for a long time. Now they have just begun to enter this area, but there are no preconditions for this movement to be strong. Therefore, you can open a contract in an upward direction following the main trend. A downward contract is possible for a given currency pair, but only if the price is below the trend line.

GBP/CAD

This currency pair develops mainly within the broad sideways channel 1.7177 and 1.7449. You should pay attention to the indicators that confirm the presence of sideways dynamics and do not make trend movements. Therefore, at the current market stage, we note the fact that the price has approached the level of the moving averages, which means there is reason for a reversal and an upward movement.

NZD/CHF

The New Zealand dollar against the Swiss franc is mainly developing in the upward movement. Indicators do not give signals for trading, as they are in neutral values. This can be seen especially clearly in the oscillators. It should be noted that the price is developing mainly above the level of 0.6327. Moreover, if we consider the price chart separately, then recently at least two points have been traced, where the price tested the indicated level and the level of moving averages. The previous time this led to a strong upward movement, so one can expect that a similar movement will be repeated in this case. Therefore, you can open an upward contract.

USD/CNH

The dollar is still developing in a negative stage against the Chinese yuan, but the past week has led to a slight increase. This growth can be traced both on the price chart and on indicators that for the first time in a long time went above zero, and continue to update their positive values. You should pay attention to the fact that the price growth led to the fact that it reached the level of the moving averages. In previous times, this led to a clear reaction and downward movement. We expect it to work this time too, so we open a descending contract.