Weekly forecast (November 7 – 11, 2022)
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 93.64, which will be followed by moving up to resistance level 97.66.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 93.64, which will be followed by reaching support level 81.30.
Monthly Forecast, November 2022
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 92.28, which will be followed by moving up to resistance level 107.68.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 92.28, which will be followed by reaching support level 76.90 and if it keeps on moving down below that level, we may expect the market to reach support level 65.65.
All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to buy or sell any trading instrument. Anton Kolhanov is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained. You should do your own thorough research before making any investment decisions and seek advice from an independent financial advisor.
Recommended Content
Editors’ Picks
EUR/USD extends gains above 1.0800 amid risk appetite
EUR/USD has regained traction above 1.0800 in European trading on Monday. The pair is finding fresh demand amid a modest pullback in the US Dollar and persisting risk flows. However, elevated US Treasury yields and dovish ECB bets cap the pair's upswing.
GBP/USD recovers above 1.2950 as USD loses ground on better mood
GBP/USD is recovering above 1.2950 in the European session on Monday. A pick up in risk sentiment and a minor US Dollar retreat is helping the pair stage a bounce but traders remain wary amid looming Middle East geopolitical risks and the BoE easing expectations.
Gold price remains on the defensive below $2,748-2,750 hurdle amid positive risk tone
Gold price struggles to capitalize on its intraday bounce and remains below the $2,748-2,750 supply zone through the early part of the European session on Monday. Safe-haven demand stemming from Middle East tensions and US election jitters continues to act as a tailwind for the precious metal.
Cardano Price Forecast: On-chain metrics and technical outlook signal bearish trend
Cardano is trading slightly down around $0.33 on Monday, struggling against resistance from its previously broken ascending trendline. Declining daily trading volume reinforces a bearish outlook, indicating reduced trader interest and liquidity in the ADA chain.
US elections: The race to the White House tightens
Trump closes in on Harris’s lead in the polls. Neck and neck race spurs market jitters. Outcome still hinges on battleground states.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.