Weekly Trading Analysis And Forecast For Gold Oil And Currency Pair’s.

Weekly Trading Analysis chart have proven the way to spot long term trend and chart patterns in stock. Using weekly charts instead of intraday or daily charts gives you advantages to focus on the predominant longer-term trend while you ignore the “noise” and volatility of the day-to-day fluctuations. This may increase the likelihood that a stock will remain for a longer time frame whereas the investors concerned with short timeframes may lose their positions due to short – term volatility of the market. From these reasons we suggest you begin analysis of stock market charts first on a daily chart then analyze them for deeper details.

The COVID-19 pandemic increased the popularity of the precious metal as a hedging instrument which boosted it’s value. In January 2021 gold had fallen because of the Bush administration’s $9 trillion-plus coronal disease program. Prices decreased because of the economic recovery possible thanks to vaccinations.

How To Generate A Fundamental Analysis Idea On Gold Trade

Gold Forecast | Weekly Trading Analysis And Forecast For Gold Oil And Currency Pair’s.

The current covid-19 pandemic crisis is going on all over the world. And the upcoming US election gives pressure on the US dollar. So fundamentally gold is fully in the mood yet. But what about the technical picture of the current week? We can discuss this now. Gold is fully in an uptrend at weekly and daily charts. According to the daily chart, the gold support label is 1905.00 labels. It’s also an S/R zone. And strong support. Gold’s resistance label is 1991.00 labels. It’s the minor resistance. This metal is passing a consolidation period in daily and weekly charts. And print a triple top and descending triangle chart pattern on a daily chart. Gold is fully in an ascending channel in both daily and weekly charts. Whenever the gold does not break through the current strong support label, which is also the neckline of the triple top, it could be gone up again. We need a buy signal on the support label for this. If gold is able to break through the current support label1905.00 which also breaks the trend line, then gold can go down. So we need a bullish signal on support for buy and need breakthrough the current support label for sell.

 

OIL Forecast | Weekly Trading Analysis And Forecast For Gold Oil And Currency Pair’s.

Fundamentally oil is fully under pressure. Because the consuming demand is not a satisfactory label for oil price hike. Opec and other oil-producing countries are not reducing their production of oil. So oil supply is more than the demand in the world market. The current Covid-19

Pandemic lockdown makes this problem bigger. So fundamentally oil is in a full bearish mood.

In technical view, oil breaks through an uptrend trend line in the daily chart. It also breaks through a symmetrical triangle in the daily chart. In the weekly chart oil rejects current resistance, 43.8500 labels by an obvious bearish reversal bar. Previously, this 43.8500 label was a key support label for a long time. So this label is a great S/R zone. This 43.850 label is a 61.80 fib retracement label of a recent down market. So the rejection of this 43.85 label tells us the market is going down again. In the daily chart, last week the market closed with several inside bars. If this inside bar’s mother bar breaks then the market can go down the next support label 36.4100 label. This label also fib 50.0 retracements label current down peak. We suggest staying bearish on oil this week. But you have to get a confirmation signal of sale entry.

EUR USD                                              

Now, Eur USD pair’s fundamental analysis is a little bit unpredictable. European commission central bank officials are getting anxious about the high exchange rate of the euro. So we can discuss the technical bias. In the weekly chart, this pair is staying in a consolidation period.

Price is fully in an uptrend both daily and weekly chart.

The support label is 1.175500 label. It’s a major S/R zone. The resistance label is1.2000 label. Eur USD is remaining within a range in the daily chart. We are seeing a head & shoulders pattern of euro usd  in the daily chart. Also, there is a rising wedge pattern in the daily chart. Whenever the major support label 1.1755 remains unbroken this pair could be gone up again. We need a confirmation buy signal for this on the support label. But the pair is able to break through the support label 1.17550 labels. It also breaks through the neckline of the head and shoulders pattern and rising wedge pattern together. Then we have to change our bias .The pair starts the trend reversal.                                

 

GBP USD- 

Great Britain’s pounds are facing a very worse situation now this time. Covid -19 pandemic

Vast attacks on the economy of Britain. Now the post-Brexit trade dill critical situation also joins with that. So fundamentally GBP USD is fully selling mood. Technically this pair, in the weekly chart we are seeing a full bearish picture. Last week closed with a big bearish candle in the weekly chart. This candle also breaks a bearish flag pattern of the weekly chart. For this, we can expect GBP USD could be gone to more down this week.

In the daily chart, this pair has broken through the recent support label 1.30550 and also breaks together a rising wedge trend reversal pattern. After breaking through the lower trend line of the rising wedge this pair gets bearish momentum. And, gets the confirmation candle to break out. Although, some risk remains that again this pair could retest the broken support label. But overall we should be bearish upon GBP USD for this week. More chance to go next support label 1.25220 labels.

USD Cad-                             

In USD cad pairs, fundamentally investors are getting cad as a safe haven currency. Despite the oil price low Canadian dollar also gets stronger than the US dollar. People are worried about the U. S economy.

USD cad fully in a downtrend in weekly and daily charts. In the daily chart, this pair is in a descending channel. Price retests the resistance label 1.32440 last week. These resistances label also an S/R zone. If not able to be able to break through the resistance 1.32440 labels the pair remains bearish. And again could be gone to down the key support label 1.3000 labels. Also, this label is an S/R zone. So we can remain bearish on USD cad for this week.   

Usd jpy-

     Japanese yen is the safe-haven currency in the world. It has a very correlation with gold. Now this time the gold is strong. So yen should be strong. But the Japanese central bank won’t see the yen getting stronger. It’s very harmful for their export. For this causes this pair cannot go so down. And it is moving within a long-term range in the weekly chart. Yes, the weekly overall trend is so ranging. In the daily chart, USD jpy pair is in a descending channel. But recent price swing labels are creating a minor range. Bearish momentum is not so high.

Technically the support label is 105.220  label. And the resistance is, a minor resistance of 106.520, a major resistance label is 106.900 label. Our prediction up on this pair is confusing. So we want to stay sideline.                                      

 

Conclusions:

The effectiveness of both the technical and the fundamental analysis is contested by the economical economic theory that stock prices are essentially unpredictable. According to the efficient market hypothesis research into whether technical analysis presents no advantage has produced mixed – results.

Hasna Hena flower.

The Ultimate Explanation Of Naked Forex Trading.