Weekly Forex Analysis and Forecast 2033/01/15

 Weekly Forex Analysis And Forecast with Full Forex Trading Plan.

Analysis of forex and cryptocurrencies market.

We are going to analyze forex and cryptocurrencies in the coming week. First, we have a look at the news and events that happened last week. We go to Porsaj forex academy website with the address   Porsaj.com.

You can see last week's news here in the economic calendar section. On Wednesday, we had an important news on the US dollar and the Australian dollar, and on Thursday, we had 3 news related to the CPI and the US dollar. In the case of the monthly CPI, it can be seen that the forecasted value and the actual value are the same, negative 1.1, and no change is observed, and, in the case of the annual CPI, it has changed from 7.1 to 6.5. This news caused a sharp drop in the US dollar last week. After reviewing the news, we take a look at the currency pairs in the past week. We can see that we expected the growth of +17 in euro usd currency pair, while in reality +12 happened, and for aud usd pair, we expected positive 12, while we can see that positive 10 happened. On the other hand, for currency pairs that were trending down, for example, we expected negative 18 for gbp jpy, while it can be seen that negative 4 was happened. and the news that was negative on GBP has had little effect on this currency. In general, it can be seen that,  in the last month, the economic news had the most positive effect on the euro, thus, euro has a positive score of 6, and on the other hand, the usd has the most negative news with a score of minus 5. In general, it can be said that euro, jpy, aud, cad, chf with less scores, had positive news for the last month, but in relation to usd, which was mentioned before, we had the most negative score. After usd, gbp with a negative score of 4 had a lot of negative news for itself and has assigned itself the second place in getting a negative score.

After reviewing last week's economic news and analyzing the dollar index

 

Now we will discuss the economic news of the coming week and the analysis of currency pairs

 

As you can see, we have three important news on the Canadian dollar

 

This is CPI news, all of which are expected to weaken the Canadian dollar

 

In addition, we have an important news about the US dollar, which is expected to increase the value of the US dollar

 

But on Wednesday we have the announcement of the annual CPI for the British pound, which will lead to a decrease in the value of the British pound

 

And we have four PPI news items that are expected to weaken the US dollar

 

According to these economic news, we examine different currency pairs

As you can see, EURUSD will increase the most by gaining 15 positive points from the forecasts.

The highest score is related to Wednesday's economic news, which has 11 positive points

After that gold has 9 plus points to increase

As you can see, in addition to gold, the New Zealand dollar, silver and cryptocurrencies such as BNB, Ethereum, Bitcoin, Doge, and Tron have similar points.

This is because they themselves have no news and are influenced by the economic news of the US dollar

 

At the bottom of the table, CADJPY will decrease the most with 20 negative points, which is due to the decrease of the Canadian dollar and the increase of the Japanese yen.

Based on the economic news of the week, USDCAD also looks interesting

On Monday and especially on Tuesday, it has very positive news and finally on Wednesday it has a lot of negative news

This could cause us to see an increase and then a decrease for USDCAD

In the end, we take a look at the impact of economic news of the past month on different currencies:

As you can see, Euro has had the most positive news with 6 points

And the US dollar has decreased the most with 5 negative points.

The currencies of Japanese yen, Australian dollar, Canadian dollar and Swiss franc have had positive news in the past month

 

And the British pound has had a lot of negative news.

Now, considering the economic news of the week, we will analyze interesting currency pairs

 

Considering the very positive score of EURUSD, we will first examine this currency pair

As you can see we have a lot of positive news for EURUSD on Wednesday

And a total of 15 positive points are predicted for this currency pair this week.

In addition, you can see that 81% of the current open positions are sells and only 19% are open positions.

There is an important point here

The average selling price is 1.064 while the current price is 1.08327

This shows that many traders have sold positions at low prices

And now they are at a great loss

This refers to a big mistake of traders who close profitable trades early

And they keep unprofitable trades open until huge losses

 

This is a big mistake!

Professional traders close losing trades early

And they keep profitable trades open to expand their profits

As a result, we will wait for the correction and reduction of the EURUSD price in the 4-hour time frame

And when the price approaches the moving average or super trend indicator line

and purchase settings are provided, we take a purchase position.

 

The price of gold rose a lot last week

According to the forecasts we have on the economic news, the price of gold will increase in the coming week

Especially on Wednesday when we have the news about PPI

As the news about the dollar is positive on Tuesday, the price of gold may decrease

This makes us enter a buying position after correcting the price of gold

It is certain that we do not enter the position in the middle of the road

And we always open a buy or sell position after a correction or pull back

The next currency pair that interests us is USDCAD

On Monday and Tuesday, economic news predicts the growth of this currency pair

And on Wednesday we expect it to decrease

Many changes are expected for this currency pair

Because this week we have a lot of economic news on the Canadian dollar and the US dollar

According to this news, we expect price growth at the beginning of the week and then price reduction

According to the conditions of the chart, we can have a buy position and then a sell position

 

 

Bitcoin and other cryptocurrencies such as Tron Dodge will be affected by the economic news of the US dollar

And based on Tuesday's economic news, we expect their prices to decrease and improve at the beginning of the week, and then the price will continue to grow

As a result, we should wait for the correction and approaching the support levels and enter the buying position when the buying setup is provided

 

One of the currency pairs that we expect to decrease in price is CADJPY

Positive news on the Japanese yen and negative news on the Canadian dollar has expected a price drop for this currency pair

Considering that 69% of open positions are buys, we can expect a price correction for it

With the increase in the price of CADJPY, we enter a sell position in a suitable position when the price starts to fall

 

 

CADCHF currency pair also has a lot of negative economic news and 19 negative points makes us expect a big drop for it

In addition, you can see that currently 94% of open transactions are in the buy position

This means that there are no other buyers in the market and the current buyers are 153 pips in loss.

With the further fall in the price of this currency pair, the loss limit of the existing buyers will be activated and they will be thrown out of the market, and this will mean the sale and further fall in the price of this currency pair.

As a result, after each correction, we enter a sell position with the appearance of signs of price reduction

 

 

The next currency we are interested in is the US dollar against the Japanese yen

At the beginning of the week, according to the economic news on Tuesday, we expect a correction in the downward trend of this currency pair

After 3 months, the BOJ has a conference this week. Remember that the BOJ conference three months ago stopped the declining trend of the Japanese yen and increased it. As a result, the USDJP currency pair entered a downward trend.

For now, based on the predictions on the economic news, we expect this downward trend to continue

And after every correction and price increase, we enter a selling position in a suitable position.

Of course, it remains to be seen what will be discussed at the BOJ conference

 

 

The last currency pair is the US dollar against the Swiss franc.

In this currency pair, we expect an increase and correction in the downward trend of this currency pair at the beginning of the week.

So, we wait until after every correction, as soon as we see the signs of continuation of the downward trend, we enter the sell position.

In the end, I would like to mention two points.

First, we always enter a position after correction or pull back. We never open a trade in the middle of a move.

Second, we always set a loss limit for our trades and close the trades that enter into losses quickly.

I hope you have a good week and your trades are profitable.

 

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Indices Analysis: DXY

Gold Analysis: XAUUSD

Silver Analysis: XAGUSD

Bitcoin Analysis: BTCUSD TRXUSD DOGEUSD BNBUSD ETHUSD SUIEUSD SUIE

Forex currency pairs: EURUSD GBPUSD AUDUSD NZDUSD USDCHF USDJPY USDCAD CADJPY CADCHF AUDNZD GBPCHF

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Every Thing We Use for Market Analysis:

1- Market Sentiment: https://porsaj.com/en/index/symbols/

2- Economic Calendar: https://porsaj.com/en/index/events/

3- Signals Of Top Traders: https://porsaj.com/en/index/traders/