- Friday, 08 July 2016
- Weekly Technical Analysis
GBP/USD Weekly Forecast – 11 July – 15 July
Sterling continued its downtrend last week as post-referendum impacts continue to effect financial market in the UK. Pair was pushed all the way to 1.28 handle in one moment, but managed to rebound slightly by the end of the week, though 1.30 handle, which was previous significant psychological support now offers plenty of resistance. As for next week, we believe that focus will be on BoE's interest rate decision with pair likely finding support around 1.28 handle and resistance above 1.3050 handle.
Read more...- Saturday, 02 July 2016
- Weekly Technical Analysis
EUR/USD Weekly Forecast – 04 July – 08 July
Euro was mostly influenced by Brexit referendum results in the course of the last week. Pair initially found support slightly below 1.10 handle and managed to rebound breaking above 1.11 handle, however area above 1.1150 level proved to be too resistive for the pair which spent rest of the week going back and forth, but settled the week above 1.11 handle. As for next week, with no major data releases from Eurozone focus will on US NFP figures. Any type of supportive candles around 1.10 handle would be short-term buying signal, while resistive candles above 1.12 handle and 1.1250 level in extension would be selling signal.
Read more...- Saturday, 02 July 2016
- Weekly Technical Analysis
GBP/USD Weekly Forecast – 04 July – 08 July
Sterling initially found support around 1.31 handle in the course of the last week and managed to rebound going all the way above 1.36 handle, however, quickly declined by the end of the week going back to 1.32 handle. OF course pair was mostly influenced by any news regarding Brexit and political situation in the UK at the moment. As for next week, we believe that Brexit will remain the key topic with pair likely finding support around 1.31 handle and resistance above 1.34 handle.
Read more...- Saturday, 02 July 2016
- Weekly Technical Analysis
AUD/USD Weekly Forecast – 04 July – 08 July
Aussie initially fell in the course of the last week affected by stronger US dollar, but by the end of the week managed to rebound and broke above 0.74 handle, even testing 0.75 handle as a resistance, which is of course a bullish sign indicating that we could be seeing stronger Aussie in the future. Next week, we would pay attention to RBA rate decision and the following statement. Pair is likely to find support around 0.74 and 0.7350 handle in extension, while resistive candles above 0.7550 and 0.7630 handle would be short-term selling signal.
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