Our first pair is EUR / USD Monthly time frame chart. The movement occurs in one large channel where the pair bounces between the lower support line and the upper resistance line. By setting the Fibonacci level, you will see repeated pullback refusal sites to the zone between 61.8% and 78.6%. Looking at the chart like this, the bullish trend is waiting for us in 2021 as well. Our first serious goal is 1.25000 and the potential resistance is MA200 (purple line). If the EUR / USD moves like the previous cycle and the dollar continues to fall, we can see this pair again at 1.30000.
GBP / USD
Look at the GBP / USD Pairing in a monthly time frame shows that the pound will remain high next year and there is a great opportunity to take advantage of the weakness of the dollar and strengthen the pound with the help of the Brexit agreement. Technically from the bottom, with trendline support, it is above the MA50 moving average. As the first goal of the new year, our zone is around 1.40000 to 1.43700, the highest ever since 2018. The bullish tendency is only the first third, so hopefully everything is possible to reach the 1.5000 leg goal.
USD / JPY
Look at the USD / JPY pair There is a long-term downtrend since 2015 in the monthly time frame. Moving average pressure from above shows movement in the descending channel and is currently testing the MA200 (purple line). The continuation of the bearish trend is very likely in the 100.00 psychological zone. Just above that, the Fibonacci level is 101.00, which is 50.0%. The previous highest value was 99.00, which is the critical level for this pair. The dollar is expected to weaken in the future, and other currencies will be used in an advantageous manner.
EUR / AUD
The graph of the monthly time frame is EUR / AUD The pair has been bullish since 2012, but this year it was not a favorable euro against the Australian dollar. Here you can expect the pair to rest and break at the first moving average (red line) of the MA50. By setting Fibonacci, we can see that the initial pullback rejection is 61.8%. Now the pair is retesting the second pullback at 61.8%, MA100 (blue line) and MA200 (purple line).
GBP / CAD
Look at the GBP / CAD Looking at the pair in the monthly time frame, we can see that it supports the pound against the Canadian dollar from below one trend line from 2010. Technically, the pair is most likely to reach the zone at 1.8000, later facing high resistance and moving on average MA200 (purple line) and Fibonacci level 38.2%. The trading zone for this pair is 1.65000-1.80000. Oil price It has a major impact on the Canadian dollar, which is driven by oil, and the global economy. The current instability of the world surrounding the coronavirus and its economic impact is not yet over with the advent of new viruses.
AUD / NZD
Looking at the graph of the monthly time frame, there is one big channel. AUD / NZD The pair will move. Since 2015, the pair has moved laterally and integrated beyond the canal’s earnings. Here you can expect the pair to move to the bullish side once the integration is complete. The goal of the bullish scenario is 1.10000, but first we need a break above the moving average MA100 (blue line). The Australian and New Zealand economies are closely linked and interdependent. There are benefits to those who recover quickly from the effects of the coronavirus.
CHF / JPY
Look at the CHF / JPY The pair has been bullish since 2001 and all three moving averages MA50, MA100, and MA200 are supported. These are the two safest currencies for investors in the event of a crisis. As you can see, the Swiss franc takes precedence. If the couple continues this way, it is expected to reach a height of 120,000 and the bullish scenario will continue. The bearish scenario first requires a break below the MA50 and MA100 moving averages (red and blue lines).
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Forecast of 7 currency pairs in 2021
https://www.financebrokerage.com/forecasts-for-seven-currency-pairs-for-2021/ Forecast of 7 currency pairs in 2021