Forex Market Watch For the Week Ahead

Get ready for a comprehensive Forex market analysis for the week ahead, focusing on potential trends and shifts. Explore insights on key pairs such as AUDCHF, AUDCAD, EURAUD, and USDCAD. Delve into technical analyses, forecasts, and potential trading opportunities. Exercise caution and vigilance as you navigate the complexities of the Forex market. Read more for valuable insights and strategies to inform your trading decisions.


Eoin Cusack

10/29/20234 min read

The globe in background with currency symbols orbiting around it
The globe in background with currency symbols orbiting around it

Attention, Traders! Brace yourselves for an intensive market analysis for the week ahead. We closely monitor several Forex pairs, poised for potential breakthroughs and dramatic shifts. Our focus is on the AUDCHF for a possible trend reversal, with the AUDCAD presenting an intriguing counterpoint. Moreover, our keen analysis extends to the EURAUD, revealing significant insights into the ever-volatile Aussie. Lastly, the USDCAD is testing an extreme and stubborn resistance level that has persisted since last year. We will dive deep into these pairs and keep them in our market watch for the week ahead.

Disclaimer: The technical analysis provided is for informational purposes only and should not be regarded as financial advice. Forex trading carries substantial risks, and past performance is not indicative of future results. Traders should conduct independent research and consider their own risk tolerance before making any trading decisions. The author and the publishing platform are not liable for any financial losses incurred. Trading in the Forex market involves inherent uncertainties and is undertaken at the trader's own risk.

Technical Analysis and Forecast For AUDCHF

First, we will look at the analysis for the AUDCHF. Last week we had a bounce of the level of support on the daily chart. Ultimately preventing the price from making any further lows.

Looking at the four-hour time frame illustrated in the image below we can see the price has broken a lower high. This is a strong indication that the bulls are back in control of this market. A new trend line has developed.

If the price reacts again from this trend line for the third time in the week ahead. This could potentially give buyers an opportunity in this pair.

Chart of AUDCHF forecast and analysis
Chart of AUDCHF forecast and analysis

Will The AUDCAD Soon Be Trading In An Old Range

Turning our attention to the AUDCAD. We have had a strong push from support from a daily range, resulting in price rising to the resistance between the two zones.

We can see from the image below the trend line marked has had a strong reaction as the price bounces off it, failing to breach.

Could potential buyers be patiently waiting for a retest of this trend line which could breach this weak resistance and see price trading in an old familiar range? This pair is definitely worth keeping a close eye on in Forex trading week ahead.

Potential Trend Reversal On the EURAUD

Looking at the EURAUD, this time the Aussie is the counter currency. Previously over the last three weeks, this market has been on an up-trend. Although last week it is evident that the price has failed to reach a new high.

Is this a sign of exhaustion from buyers with more sellers coming into play? With this pair looking like a flag pattern range is forming.

I am more interested in the price coming into contact with the downward trendline for this currency pair, considering the strength of the resistance this pair has seen in the recent past.

It would be worth watching for further signs of bearish price action in the days ahead.

Chart with forex and analysis and forecast for the EURAUD
Chart with forex and analysis and forecast for the EURAUD

Technical Forecast For the USDCAD

Finally, the last currency pair that has got our attention is the USDCAD. Price is at a significant level which it has not seen since last year. The one thing I will point out is that it is not showing signs of slowing down that is evident yet.

It is definitely worth sitting on your hands with this one and waiting for the price action to come to us.

Will we see a new price range for the USDCAD or will he have a great trading opportunity for a big sell-off as this pair continues to test this strong resistance over the week ahead?

Chart of USDCAD showing forecast and analysis
Chart of USDCAD showing forecast and analysis


The week ahead promises an enthralling journey through the intricate realms of Forex trading. With the AUDCHF showing promising signs of a potential trend reversal and the AUDCAD hinting at a probable return to an old trading range, traders are advised to exercise vigilance and patience in their strategies.

The EURAUD, on the other hand, suggests a potential trend shift, urging market participants to closely monitor the downward trendline for any bearish signals. As for the USDCAD, the persistent testing of a robust resistance level since last year sparks a sense of anticipation, emphasizing the need for a cautious approach while awaiting potential price movements.

With an array of compelling indicators and patterns surfacing in the market, traders are advised to remain attentive and responsive to the evolving dynamics, harnessing the insights provided to inform their crucial trading decisions.

As we embark on the upcoming week's journey, may these observations serve as a compass, guiding you through the ever-changing Forex market.