Trading Support And Resistance - Sunday, Sept. 23

This week we’ll begin with our monthly and weekly forecasts of the currency pairs worth watching. The first part of our forecast is based upon our research of the past 16 years of Forex prices, which show that the following methodologies have all produced profitable results:

Let’s take a look at the relevant data of currency price changes and interest rates to date, which we compiled using a trade-weighted index of the major global currencies:

table1

Monthly Forecast September 2018

For the month of September, we forecast that the best trade would be short AUD/USD. The performance to date is as follows:

Currency Pair

Forecast Direction

Interest Rate Differential

Performance to Date

AUD/USD

Short ↓

0.50% (2.00% - 1.50%)

-1.33%

Weekly Forecast September 23, 2018 

Last week, we made no forecasts, as there were no strong counter-trend movements.

This week, we forecast that the AUD/USD currency pair will fall in value.

44% of the important currency pairs or crosses moved by more than 1% value over the past week. This volatility is relatively higher, and we expect it to be higher still over the coming week.

This week has been dominated by relative strength in the Australian Dollar, and relative weakness in the Japanese Yen.

You can trade our forecasts in a real or demo Forex brokerage account.

Previous Monthly Forecasts

You can view the results of our previous monthly forecasts here.

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