- Friday, 13 May 2016
- Weekly Technical Analysis
AUD/USD Weekly Forecast - 16 May – 20 May
Aussie continued its downtrend in the course of the last week, though there were no major data releases. Pair was unable to break above 0.74 handle and by the end of the week tested 0.7250 level as a support. Next week, we would pay attention to Australian job figures. Pair is likely to find support around 0.72 handle, at leas initially, and resistance around 0.7350 and 0.7380 level in a case of a larger rebound. Read more...
- Friday, 06 May 2016
- Weekly Technical Analysis
EUR/USD Weekly Forecast - 09 May – 13 May
Euro was pushed higher initially in the course of the last week, going all the way above 1.16 handle. However, this area proved to be too resistive at the moment, with pair pulling back, all the way to 1.14 handle by the end of the week, as there are still concerns regarding future ECB monetary policy as well as overall economic outlook for the Eurozone. As for next week, we can expect steadier beginning of the week as there will be no major data releases. Read more...
- Friday, 06 May 2016
- Weekly Technical Analysis
GBP/USD Weekly Forecast - 09 May – 13 May
Sterling tried to break higher in the course of the last week going all the way near 1.47 handle, however this area proved to be too resistive at the moment, with pair pulling back to 1.44 handle by the end of the week. This is just a sign that pair is not strong enough at the moment to break higher, however we do recognize that area around 1.44 handle offer significant amount of support as this was previously major resistive point. Next week focus will be on BoE interest rate decision and the following minutes.
Read more...- Friday, 06 May 2016
- Weekly Technical Analysis
AUD/USD Weekly Forecast - 09 May – 13 May
Aussie broke lower in the course of the last week going all the way to 0.7330 area. Decline was mostly due to RBA surprise rate cut as well as announcement that we can expect further rate cuts in the future, with inflation outlook being lowered. This break is quite important and it could mark change in trend with pair going back to 0.70 handle, especially since RBA is opting for lower exchange rates. As for next week, we believe that pair will find some amount of support around 0.7280 level and 0.7250 handle in extension, so these would be our short-term buying points, while we can expect significant amount of resistance around recent strong supportive points at 0.7440 and 0.75 handle.
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