- Sunday, 07 August 2016
- Weekly Technical Analysis
GBP/USD Weekly Forecast – 08 August – 12 August
Sterling came near 1.34 handle in the course of the last week but then decisively pulled back all the way to 1.30 handle after BoE's decision to cut interest rates and expand stimulus programme. In addition to that US NFP figures came better than expected, however 1.30 handle is still quite supportive for Sterling. As for next week we would pay attention to UK Industrial Production figures. Pair is likely to find support around 1.30 and 1.2950 handle and resistance above 1.32 handle.
Read more...- Sunday, 07 August 2016
- Weekly Technical Analysis
AUD/USD Weekly Forecast – 08 August – 12 August
Aussie found support around 0.7470 level in the course of the last week and was pushed higher, well above 0.76 handle, despite RBA's rate cut, indicating that there is certain amount of bullish pressure in the pair at the moment. However, by the end of the week pair pulled back due to better than forecasted US NFP figures but managed to remain above 0.76 handle. Next week, we would be more focused on China's figures. Pair is likely to find support around 0.75 and 0.7450 handle in extension, while resistive candles above 0.7680 and 0.7750 handle would be short-term selling signal.
Read more...- Sunday, 31 July 2016
- Weekly Technical Analysis
EUR/USD Weekly Forecast – 01 August – 05 August
Euro spent last week in a slight incline after it found support around 1.0950 handle and went all the way to 1.12 handle, though this is where pair found resistance and pulled back slightly. As for next week we would be focused on US job figures. Any type of supportive candles around 1.10 handle would be short-term buying signal, while resistive candles above 1.1250 handle and 1.13 level in extension would be selling signal.
Read more...- Sunday, 31 July 2016
- Weekly Technical Analysis
GBP/USD Weekly Forecast – 01 August – 05 August
Sterling managed to rebound in the course of the last week, going all the way to 1.33 handle, supported by better than forecasted UK GDP figures. However, pair found this area to be too resistive at the moment with pair pulling back to 1.32 area by the end of the week. As for next week, we believe that focus will be on UK PMI and US NFP figures with pair likely finding support around 1.31 handle and resistance above 1.3350 handle.
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