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  • Weekly / Long-Term Forecast

    Weekly / Long-Term Forecast, November 13 - 17

    LEADING INDICATORS

    econom

    Main news of this week:
    Tuesday: GBP - Core CPI
    Wednesday: US - Core CPI; Oil inventories and Production
    Thursday: EU - Core CPI

    What to expect on this week?
    Last week market was in sideways trend and this weel have patterns, after breaks of that market will have good potential for fast trends. But this will happen, if main news on this week will have any changes, positive or negative. Mostly, influence will made news "US Core CPI", but also "Core CPI" for EU and GBP also will be very important, so we need to follow them.

    EURUSD

    Weekly forecast, November 13 - 17

    The market is trading along a downtrend with target on 1.1550 and then 1.1450, that may be expected to continue, while market is trading below resistance level 1.1715.
    An uptrend will start as soon as the market rises above resistance level 1.1715, which will be followed by a move up to resistance level 1.1826 and 1.1910.

    eurusd
    chart from previous week forecast, November 6 - 10


    chart from November 5

    eurusd weekly chart
    chart from previous week forecast, September 29


    Weekly chart from October 2

    eurusd weekly chart



    GBPUSD

    Weekly forecast, November 13 - 17
    The market is trading along a sideways trend between support 1.3068 and resistance 1.3285. Local downtrend now can get support level 1.3068 and if it keeps on moving down below that level, we may expect the market to reach support level 1.2932.
    An uptrend will start as soon as the market rises above resistance level 1.3285, which will be followed by a move up to strong resistance level 1.3395.

    gbpusd
    chart from previous week forecast, November 6 - 10


    Weekly chart from October 2

    gbpusd weekly chart forecast





    GOLD

    Weekly forecast, November 13 - 17
    The market is trading along a sideways trend between support 1269 and resistance 1289.
    An downtrend will start as soon, as the market drops below support level 1269, which will be followed by a move down to support level 1258 and to 1241.
    An uptrend will start as soon as the market rises above resistance level 1289, which will be followed by a move up to resistance level 1304.

    gold
    chart from previous week forecast, November 6 - 10

    Daily chart from November 5
    gold daily chart


    Weekly chart from October 2

    gold weekly chart forecast

    CRUDE OIL

    LEADING INDICATORS

    oil econom

    What to expect on this week?
    Last market uptrend from $54 to $58 was not fundamental, but force majeure, due to political problems in Saudi Arabia. In general its clear, that this developments will not have any influence on oil production in this country, because military conditions is normal, so market can re-play back this difference in $4 from $58 to $54. CME futures on WTI show that level $58 is key resistance from that market need to start downtrend, after some formation of pattern on the market top and its further break down. By fundamental data we can see, that production is on the historical top and continue its rising, where same time inventories create market bottom and seems that from week to week they will start uptrend. So, not political, not fundamental, oil do now have perspective to be trading above price of $58 - $60 ($60, as key resistance on "spot" market). Same time current price is very good level for further shale mining and we can see that oil rigs continue their increasing, so we need to prepare for soon downtrend to $54 and $50 levels, where $50 for now is fair price for current fundamental conditions.


    Weekly forecast, November 13 - 17

    The market is trading along a sideways trend between support 56.38 and resistance 57.40.
    The uptrend may be expected to continue in case the market rises above resistance level 57.40, which will be followed by reaching resistance level 60.25.

    oil
    chart from previous week forecast, November 6 - 10

    Daily chart from November 5
    oil daily

    Weekly chart from October 2

    us oil wti weekly chart forecast

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