Weekly Forex Forecast

Forex Weekly Analysis Price Forecast / Best Forex Signals And More (May 18th-21th May 2021)

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GBPAUD is trading in a range between the two levels And the pair is now facing the horizontal resistance From where I think a move down is possible With the target being the local horizontal support Sell .

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The price for GBPCHF has been rejected at the resistance level 1.28000. It is down to a support level now. Will be paying close attention here as the break of this level can send the price much lower .

USDCAD Last week, the loonie lacked priced volatility , as the pair seems to be undecided for now. As you can see, we are at a critical point. Will the weekly support level hold & we will reverse? Or we will continue the bearish momentum? It remains to be seen. If the market makes a strong bullish impulse, then we will need to wait for a correction, that could act as a confirmation for a potential reversal. If not, the price could easily continue dropping.

On GBPJPY there is a possibilities that the price might reaching the Supply Zone as above, and that’s will be the “Sell Zone” as well. If the the “Sell Zone” is break out and the price will move further high. Concurrently, if the price respects the “Zones”, then the price movement will take place and reaching further down. The momentum for GBPJPY has been totally in uptrend for the past few months, and there is no such as total vertical market movement . Hence the price has to hit down and respect those previous resistances, and as per the TL, if the price broke bellow the TL, then can find the Sell Setup.

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