Weekly Forex Forecast And Analysis - Trades About To Happen - GBP|USD, AUD|USD And Silver (XAG|USD)

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Hey guys, welcome to this weekly forex forecast and analysis! Today we are going to see what the GBP/USD, AUD/USD And Silver (XAG/USD) are going to offer us in terms of trading opportunities.

Starting off with the GBP/USD in this weekly forex forecast, we are waiting for bulls to get to the major resistance, thus giving us the opportunity for a counter-trend trade. Right now bulls made and stablished a trend reversal to an uptrend on the daily chart, and we are fulfilling the double bottom on the major support container area in the higher time frames. Following the A-B-C-D pattern with Fibonacci retracements and extensions, we are planning to sell at “D” point, at the 127.2% Extension, which has perfect confluence with the next major are of resistance form the weekly chart. This would be a perfect Counter trend trade in forex, and we want to enter with a daily candlestick pattern or an intra day entry (using MACD and RSI indicators).

The AUD/USD is in a huge downtrend, where bears are in control following the pattern of lower lows and lower highs form the Weekly chart, and making new lows in the daily chart! Right now we broke through the major support area which is the previous swing point, the major “B” point from the previous A-B-C-D pattern and right now we are trading below, and following the trend trade idea we are about to get into this are of resistance, and has perfect confluence with the 61.8% Fibonacci retracement level, the golden ratio. I would be looking to short with a daily candlestick pattern or intra day entry!

On this weekly forex forecast I also talk about Silver (XAG/USD), where bulls are re-gaining control and are getting started on this huge uptrend. In the weekly chart we are coming off from the major “C” point, the 88.6% Fibonacci retracement level, and we are starting an uptrend on the daily chart! Following the A-B-C-D pattern we are now getting into the 61.8% Fibonacci retracement level, where I want to get long on this fabulous Trend Trade! Pull the trigger with either a daily candlestick pattern or an intra day entry!

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