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northernwave's Blog
GBP/CAD forecast
GBP/CAD: 1H chart
Upside momentum looks greater than the downside channel potential. I would expect that it will reverse the current downward channel and revise the monthly high within this month.
Upside momentum looks greater than the downside channel potential. I would expect that it will reverse the current downward channel and revise the monthly high within this month.
USD/CAD forecast
USD/CAD: 1H chart
Time to correct. With the strong down trend, it is likely to correct a day or two for the another down leg. I would bet it will retrace to above 1.3200.
Time to correct. With the strong down trend, it is likely to correct a day or two for the another down leg. I would bet it will retrace to above 1.3200.
GBP/USD forecast
GBP/USD: 1H chart.
The downward momentum is in a good standing. Most likely it will reach the last month's bottom around 1.2150~1.2250 before the Christmas holiday.
The downward momentum is in a good standing. Most likely it will reach the last month's bottom around 1.2150~1.2250 before the Christmas holiday.
USD/JPY forecast
USD/JPY: 4H chart
The correction from the last week to today has not been deep as I had expected before, but, the upward channel of this pair is still quite intact. I would revise the current run's immediate target at 1.1600, which is most likely reached in two or three days.
The correction from the last week to today has not been deep as I had expected before, but, the upward channel of this pair is still quite intact. I would revise the current run's immediate target at 1.1600, which is most likely reached in two or three days.
GBP/USD forecast
GBP/USD: 4H chart.
After Brexit, GBP had weakened in its multi year bottom in the last summer. Now, for the last two months, it has been in a mode of recovery. I expect the current recovery would continue pass through 1.3000 before the Christmas holidays season. Anywhere between [1.2650~1.2700] seems a good entry range.
After Brexit, GBP had weakened in its multi year bottom in the last summer. Now, for the last two months, it has been in a mode of recovery. I expect the current recovery would continue pass through 1.3000 before the Christmas holidays season. Anywhere between [1.2650~1.2700] seems a good entry range.
USD/CAD forecast
USD/CAD: 1H Chart
It seems that USD will resume its strong move against most of the major currencies during this week. Above all, CAD would be one of the weakest currency among the other currencies. Most likely, it will go above the last week high within this week.
It seems that USD will resume its strong move against most of the major currencies during this week. Above all, CAD would be one of the weakest currency among the other currencies. Most likely, it will go above the last week high within this week.
GBP/CAD forecast
GBP/CAD: 4H chart.
While both currencies has been long downward trend compared to USD during the year, GBP's down-slope has been steeper than CAD. From the last month, the strength was in favor of GBP. Is this yet another correction or a major shift of trend ? I would bet the latter. Immediate target is most likely [1.7250~1.7350].
While both currencies has been long downward trend compared to USD during the year, GBP's down-slope has been steeper than CAD. From the last month, the strength was in favor of GBP. Is this yet another correction or a major shift of trend ? I would bet the latter. Immediate target is most likely [1.7250~1.7350].
USD/JPY forecast
USD/JPY: 1H chart
Asian currencies has been very weak with the expected adverse effect of the US election result, on top of the already weak global production activities. This trend would not be reverted in a short time, a.k.a., it would go through during this winter. However, in the next few days I would bet some additional momentum building at 110.50 ~ 111.00, before it resumes the upward trend.
Asian currencies has been very weak with the expected adverse effect of the US election result, on top of the already weak global production activities. This trend would not be reverted in a short time, a.k.a., it would go through during this winter. However, in the next few days I would bet some additional momentum building at 110.50 ~ 111.00, before it resumes the upward trend.
GBP/USD forecast
GBP/USD: 1H chart.
While USD has been strong against almost all other currencies after the US election, GBP has been even better performing for the last month. Since the other currencies has been entering in the correctional mode compared to USD in the last few days, the upward momentum of GBP/USD is more likely to continue, passing through the last month's high, most likely, up to 1.2850~1.2900.