This week in the FOREX market is coming to an end, and we’ve decided to summarize some of the results.
USD / NOK.
On Monday, we predicted the growth of USD against the Norwegian krone on the 1D TF. 06.02 on Wednesday, the pair broke through its resistance level in the form of a trend line, going up. The target is now level 8.6900.
CHF / JPY
We forecast a decline of the Swiss franc on the 4H TF. The signal was confirmed after the crossing was confirmed by the MACD lines. The goal of the downward movement of the pair was level 109.4. A rebound is currently underway, which could bring the Swiss currency above 110.
USD / CAD
As we indicated, there was a move upward with a breakdown of the resistance level in the form of a trend line. The recommended target was 1.3360, and this has not yet been achieved. However, the growth of the currency pair continues and there are no signals to sell.
Conclusions: long positions remain preferable. We confirm the goal of 1.3360.
EUR / CHF
The goal of 1.1340, which we wrote about, was almost achieved. The currency pair dropped to 1.1341, after which there was a slight rebound to the top. Currently, the price continues to form a local bearish trend. Received a sell signal from the MACD indicator (line crossing).
Conclusions: taking into account the confirmation of the signal to turn, it is now possible to bet against the European currency.