Welcome to our new weekly forecast for the trading week beginning on November 25th.
Our apologies for missing last week’s analysis, but let's dive straight into discovering new trading opportunities this week.
The dollar is showing strength both fundamentally and technically, the crypto market is gaining momentum, and gold has made a remarkable comeback.
Let’s explore the tradable setups!
Dollar Index (DXY)
The Dollar Index is exhibiting strong bullish signals on the monthly time frame, having broken out of a prolonged consolidation range. On the weekly, it's surpassed crucial resistance zones, showing no signs of bearish divergence on the MACD. The momentum is intact, suggesting further bullish potential.
GBP/USD
The GBP/USD pair is facing bearish pressure with potential downward continuation indicated by bearish crossovers on the monthly and weekly charts. Current trends suggest approaching a critical support zone, with projections leaning towards 1.2100.
USD/CHF
The USD/CHF pair is advancing strongly, having crossed the 23% Fibonacci retracement level and heading towards the 38% zone, which acts as a significant magnet for price action. With the pair targeting the previous highs around 0.9158, this could be a crucial week for traders looking to capitalise on this momentum.
Gold (XAU/USD)
Gold has demonstrated a strong rebound off critical support levels, with bullish indicators suggesting a temporary pullback before resuming its upward trajectory. Nikkhil’s analysis projects significant resistance near the $2733 to $2743 range.
ARB/USDT (Crypto)
ARB against the USD shows remarkable strength, breaking past initial retracement levels with bullish momentum that suggests a potential 50% gain in the near term. The weekly and daily charts confirm strong buying signals.
Stay ahead of the curve with these insights, and remember to adapt your strategies according to market conditions.
Happy trading, and let's make the most of the opportunities this week offers!
Click Here to Watch the Full Week Forex Forecast
We’ll talk soon,
Team Moneytize