Weekly Forecast 4 - 8 October 21

 ETHUSD

The second biggest crypto, Ethereum had a roller coaster week. Early week, the bears aligned to the current Sell signal took a dive from 3168 to 2779. By midweek, after the formation of a double bottom, the bulls came charging and drive prices above the MA (green) line and closed 3289, in the positive territory.

RSAlert’s Sell signal remains active because the SL level 3664 has not been breached. The midweek bull swing, however, did alter the Strength Bar to 70% bullish. Prefer to wait out until signal and Strength Bar are align.

 XAUUSD

Another roller coaster week for gold. The Golden Bears came and prices dived $40 from 1761-1721, but, by midweek, the Golden Bulls took over the reign to 1764 and closed at the opening price.

Possibility for a bearish extension is on the cards, as RSAlert’s current signal and its Strength Bar are aligned. Prefer to wait out to see if the MA line can play its resistance role well.

USDCHF

Swissy’s bears managed to stay in the market for about 2 days, midweek, but Friday’s close is an indication for another bull swing on the cards.

RSAlert’s Buy signal is already 1 month old and with TP4 yet to be tested, an extended bull swing may play out, provided that the MA line played its support role well.