Weekly forecast (December 14 – 16, 2022)

Uptrend scenario

The uptrend may be expected to continue, while market is trading above support level 60,11, which will be followed by reaching resistance level 67,38 and if it keeps on moving up above that level, we may expect the market to reach resistance level 72,69.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 60,11, which will be followed by moving down to support level 54,29.

Chart

Monthly forecast, December 2022

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 69,18, which will be followed by moving up to resistance level 75,94.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 69,18, which will be followed by reaching support level 60,11 and if it keeps on moving down below that level, we may expect the market to reach support level 54,29.

Chart

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


Recommended Content

Editors’ Picks

AUD/USD rises back above 0.6500 after hawkish RBA Bullock's comments

AUD/USD rises back above 0.6500 after hawkish RBA Bullock's comments

AUD/USD edges higher to regain 0.6500 in Asian trading on Friday. The pair capitalizes on upbeat Australian Private Capex data for October and hawkish comments from RBA Governor Bullock. A broadly muted US Dollar also aids the Aussie's uptick amid light trading. 

AUD/USD News
USD/JPY extends sell-off to near 150.00 after hot Tokyo CPI

USD/JPY extends sell-off to near 150.00 after hot Tokyo CPI

USD/JPY extends sell-off to test 150.00 in Friday's Asian session following the release of hotter-than-expected November inflation figures from Tokyo, Japan’s capital. The data strengthens the case for another BoJ rate hike in December, sending the Japanese Yen through the roof. 

USD/JPY News
Gold price holds firm below $2,650 amid cautious optimism

Gold price holds firm below $2,650 amid cautious optimism

Gold price posts small gains below $2,650 in the Asian session on Friday, awaiting a fresh catalyst before the next leg of a directional move amid a cautiously optimistic mood. Bets for a Dec Fed rate cut remain intact, acting as a tailwind for Gold price alongside a subdued US Dollar. 

Gold News
ASI's FET rallies following earn-and-burn mechanism launch

ASI's FET rallies following earn-and-burn mechanism launch

The Artificial Superintelligence Alliance (FET) saw double-digit gains on Thursday after it announced plans to burn up to 100 million tokens as part of its Earn-and-Burn mechanism, set to begin in December.

Read more
Eurozone PMI sounds the alarm about growth once more

Eurozone PMI sounds the alarm about growth once more

The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.

Read more
Best Forex Brokers with Low Spreads

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.

Read More

Majors

Cryptocurrencies

Signatures