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Gold - Technical Analysis Forecast


  • The average true range is at 13.334
  • It seems that there is a very strong support level at 1300. The price has failed to break through this level in 2018
  • The support level at 1300 will likely hold in the coming month given that the volatility in gold is moderate

  • Now using the fibonacci retracement levels i can predict that the next move will be upward.
  • I will use the 2018 highs and lows to set up the retracement levels
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GBPCAD - 1 May 2018 Technical analysis forecast


  • The bollinger bands are as follows, upper band at 1.84671, middle band at 1.80848 and lower band at 1.77218.
  • The bands are upward sloping and the ATR is at 0.01393.
  • The direction on the pair is upward and i expect it to continue on that path as indicated by the lines
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GBPCHF - 1 May 2018 Forecast


  • The ATR at 0.00878 on the daily chart means volatility is relatively low.
  • However big swings can be expected in the currency pair.
  • The Fibonacci retracement levels provide an interesting perspective.
  • We use the 100% level at 1.3494 and the 0% level at 1.22202. The 50% level will be at 1.28561
  • The 50% level is an interesting support level and the price recently bounced off this level.
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EURPLN - 1 May 2018 Technical Analysis Forecast


  • The bollinger bands are widening signalling increased volatility
  • This can be substantiated by the increase in the ATR to a reading of 0.0202

  • The fibonacci retracement levels have been drawn from a high of 4.33182 in September 2017 and a low of 4.12747 in February 2018
  • The 50% level at 4.22965 will be an important resistance point in the period under consideration.
  • The price is likely to close below this point
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EURGBP - 1 May 2018 Technical Forecast


  • The EURGBP has been trading in a range in 2018 and shown in the chart above.
  • The upper bound of the range is at 0.8933 and the lower bound at 0.8708.
  • In the year the price has not closed above or below these levels.
  • I expect the range bound nature of the currency pair to continue
  • Using the range boundaries to draw up the fibonacci retracement levels will come up with the chart above.
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EURCAD - 1 May 2018 Technical Analysis Forecast


  • In the second have of 2017 the pair seemed to be trading in a range with the lower bound at 1.4468 and the upper bound at 1.5239.
  • A break above the upper limit in January 2018 led to a bullish rally in the pair as highlighted by the channel.

  • The 2018 high is at 1.61215 and the 2018 low is at 1.48153
  • It is highly unlikely that we are going to see a reversal of the bullish trend in the coming month
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EURAUD - 1 May 2018 Technical Analysis Forecast

Chart 1
  • Chart 1 above shows the bollinger bands on the daily chart set at 1.5869 for the upper band, 1.5717 and 1.5576 for the middle and lower band respectively
  • The huge gap between the lower and upper band shows that the pair has been trading in a wide range.
  • The average true range is at 0.0109 implying very low volatility
Chart 2
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USDMXN 2 April 2018 Technical Analysis forecast

  • There has been significantly high volatility in the USDMXN in the past months as highlighted by the spikes in the ATR readings.
  • However in 2018 the pair has been trading in a range with the top range at 19 and the bottom end at 18.3086

  • Taking the recent high of 19.90796 as the 100% retracement level and 18.2954 as the 0% level we can see that the spread is high and volatility is huge
  • The ATR reading is at 0.2007
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EUR/PLN 2 April 2018 technical analysis forecast


  • The volatility in the pair has been low as can be seen by the low values in the ATR
  • The pair has been trading in a range with the lower range at 4.1276 and the upper range at 4.1912
  • I expect the range bound nature to continue
  • I also expect the volatility to decrease to the low levels witnessed between November 20 17 and January 2018
  • Using the highs and lows of the range the fibonacci retracement points are plotted
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USDPLN Technical Analysis Forecast - 2 April 2018

  • The currency pair has experience huge levels of voaltility as can be attested by the widely spread out bollinger bands
  • The upper band is at 3.4467 whilst the lower band is at 3.31839
  • The ATR rs on the high side as well at a reading of 0.0339
  • The high volatility is likely to continue

  • Looking at the highs and lows of 2018, the pair is likely to trade in that range
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