Forex Weekly Outlook- 11 to 15 October, 2021

Forex Weekly Outlook- 11 to 15 October, 2021

Contents

Forex Weekly Outlook- 11 October 15, 2021

There are no important releases this week. However, the US CPI may remain the same at 0.3% on wednesday. The investors may find the market a little volatile for the FOMC meeting on thursday with the AUD unemployment problem. There are some other releases like US PPI on Thursday and retail sales on friday.

Let’s see what we have got for the coming week from the GBPUSD:

GBP/USD

As there are no important releases this week which may affect the price, we may predict the market to be stable this week. As we expected, GBP/USD moved higher after a correction last week. The market position of GBP/USD is quite neutral.

The current price is trading below the resistance of 1.3724 and above the support of 1.3611 key level. Therefore, considering the overall structure we should focus on finding a sell now. However, if the price goes above 1.3700 closed candles, we should focus on finding a buy.

In the chart above, we can see that the GBP/USD is trading above the dynamic 20 EMA with a bullish momentum.

Considering the current market structure, we may expect the price to move higher towards the 1.3700 level. However, a break below the 1.3611 level may alter the market condition.

XAU/USD

The XAD/USD is carrying on the corrective momentum that started last week. Last week, the price was corrective and tried to meet the 1783.76 resistance level but failed. Rather the price came down.

The current price is trading below the resistance of 1776 and above the support of 1723 key level. Therefore, considering the overall structure we should focus on finding a sell below 1783 closed candles.

We can see in the above chart that XAU/USD is below the dynamic 20 EMA with a bearish momentum after a correction.

Considering the current market structure, we may expect the price to move lower towards the 1723 level. However, a break above the 1783 level may alter the market condition.

BTC/USD

In BTC/USD we can see a magnificent bullish pressure that moved the price above the 50,000.00 level. The current price is trading above the resistance of 52,000.00 level. Therefore, considering the overall structure we should focus on finding a buy as the price is trading above the 52,000.00 resistance leve

btcusd

In the chart above, BTC/USD is above the dynamic 20 EMA and it has a higher possibility of moving towards the upside this week.

Considering the current market structure, we may expect the price to move higher towards the 59400.00 level. However, a break above the 52,000.00 level may alter the market condition.

Overall, there is a possibility of a decent price movement for both bulls and bears.

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