FREE Weekly Forex Forecast for 5th -9th March 2018




Hello Everyone,

For those of you coming in here new, let me tell you a bit about our trading style. We are long term traders as such; we trade using the daily time frame (though we sometimes take trades from the hourly charts but on rare occasions).

We trade mainly using technical analyses and we barely look at the news, so with all these being said, welcome to another wonderful week 5th -9th March 2018.

Last week, the USD went on a bearish ride, only to go north after trump made a speech of increasing the traffic of steel –I believe that’s what happen, please forgive me am bad with this news stuff.

This is the analysis for the week (5th -9th March 2018.)




 

GOLD

GOLD has been trapped by two powerful support and resistance zone. The resistance at 1350.65 has been quite strong as price keep rejecting that zone and the support at 1303.40.

The support at 1303.40.was a good one, though it  got broken last week but the news from trump make the dollar a bit weak, causing a pin bar (see the image below). So everyone is looking forward to long if they aren’t in a long position already.

FORECAST=BUY

You can see pictures of the 1hr, 4hr and 1D chart blow.

GOLD 1hr chart
GOLD 1hr chart

 




GOLD 1hr chart
GOLD 1hr chart

 

GOLD daily chart
GOLD daily chart

AUDUSD

Recent movements from last week were to go short, but this week there have been a change of power from the bears to the bull. The support at 0.77526 was a good one, remarkable on how it has held its ground.

The pin bar from last week Friday has triggered the bulls to go on a rampage.

From the set up seen in the picture below, I see a buy – all thanks to a weak dollar from trumps announcement.




FORECAST=BUY

You can see pictures of the 1hr, 4hr and 1D chart blow.

AUDUSD hr Chart
AUDUSD 1 hr Chart

 

AUDUSD 4hr chart
AUDUSD 4hr chart




 

AUDUSD daily chart
AUDUSD daily chart

 

Follow us on twitter @360forextrader and also like us on Facebook.

You can contact me via the contact us page or send a message directly to my email: iyke (dot) 360forextrader (at) gmail (dot) com

 




 

So in general, what we are expecting this week is:

GOLD…… BUY

AUDUSD…..BUY

 

 




 

Leave a Reply

Your email address will not be published.