- Saturday, 16 July 2016
- Weekly Technical Analysis
EUR/USD Weekly Forecast – 18 July – 22 July
After it initially found support around 1.10 handle in the course of the last week, euro was pushed higher, but found significant amount of resistance above 1.1150 handle and by the end of the week pair pulled back to 1.10 area, which offers some amount of support at the moment. As for next week focus will be on ECB meeting. Any type of supportive candles around 1.09 handle would be short-term buying signal, while resistive candles above 1.1150 handle and 1.12 level in extension would be selling signal.
Read more...- Saturday, 16 July 2016
- Weekly Technical Analysis
GBP/USD Weekly Forecast – 18 July – 22 July
Sterling managed to rebound a bit in the course of the last week. Theresa May as a new PM and BoE leaving interest rate unchanged were positive signs for Sterling which even come near 1.35 handle after it initially found support around 1.2850 area. However, by the end of the week pair pulled back below 1.32 handle, with market being quite volatile at the moment. As for next week, we believe that focus will be on UK CPI and job figures with pair likely finding support around 1.30 handle and resistance above 1.34 handle.
Read more...- Saturday, 16 July 2016
- Weekly Technical Analysis
AUD/USD Weekly Forecast – 18 July – 22 July
Aussie spent most of the last week in an uptrend after finding area around 0.75 handle to be supportive enough with pair going all the way to 0.7670 level, however, this is where pair found significant amount of resistance with pair pulling back to below 0.76 handle at the week's end. Next week, there will be no major data releases so we can expect a bit steadier sessions, at least initially in the week. Pair is likely to find support around 0.75 and 0.7450 handle in extension, while resistive candles above 0.7650 and 0.77 handle would be short-term selling signal.
Read more...- Friday, 08 July 2016
- Weekly Technical Analysis
EUR/USD Weekly Forecast – 11 July – 15 July
Euro tried to break higher in the course of the last week, but found area around 1.1180 level to be too resistive at the moment, with pair pulling back to 1.10 handle, where it found some amount of support, but only to finish the week around 1.1040 area. As for next week, with no major data releases we can expect a bit of consolidation after euro was strongly affected by Brexit referendum results in the past two weeks. Any type of supportive candles around 1.09 handle would be short-term buying signal, while resistive candles above 1.11 handle and 1.1180 level in extension would be selling signal.
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