Forex forecasts and market outlooks

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19.08.2019 - 13.08.2019

EUR/GBP: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (0.9099). The closest resistance level is Kijun-sen line (0.9194).

XAG/USD: technical analysis

On the 4-hour chart, the formation of a sideways trend continues, the instrument moves within the channel formed by the boundaries of Bollinger bands. The MACD histogram is in the positive area, keeping a signal to open long positions, the signal line moves horizontally. Stochastic is in the neutral zone, the oscillator lines are pointing downwards.

FDAX: technical analysis

On the 4-hour chart, a downward movement correction is observed. The instrument is trading around the middle line of Bollinger bands, the indicator cloud is expanded, which indicates the likely resumption of decline after the completion of the correction. The MACD histogram is in the negative area, keeping a signal to open short orders. Stochastic keeps a steady signal to open buy positions, the oscillator lines are pointing upwards and are preparing to cross the border of the overbought zone.

USD/CHF: wave analysis

The pair is in a correction and may grow.

On the 4-hour chart, the third wave of the higher level iii of 3 of (3) develops, within which the first wave (i) of iii formed. Now, an upward correction is developing as the wave (ii) of iii, within which the wave c of (ii) is forming. If the assumption is correct, the pair will grow to the levels of 0.9838–0.9871. In this scenario, critical stop loss level is 0.9705.

AUD/USD: wave analysis

The pair may grow.

On the daily chart, a correction of the higher level develops as the second wave 2 of (5), within which the wave b of 2 formed. Now, the development of the wave c of 2 is beginning, within which the first entry wave of the lower level i of (i) of c and the correction ii of (i) have formed. If the assumption is correct, the pair will grow to the levels of 0.7080–0.7205. In this scenario, critical stop loss level is 0.6674.

CAD/CHF: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading around lower border of the cloud. One of the previous minimums of Chikou Span line is expected to be a support level (0.7284). The closest resistance level is the upper border of the cloud (0.7364).

AUD/JPY: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is approaching the price chart from below, current cloud is descending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (71.66). The closest resistance level is the lower border of the cloud (72.86).