- Friday, 05 February 2016
- Weekly Technical Analysis
AUD/USD Weekly Forecast – 08 February – 12 February
Aussie managed to rebound in the course of the last week, breaking even above 0.72 handle at one moment, but area around 0.7250 level proved to be too resistive for Aussie, with pair pulling back significantly after NFP figures all the way to below 0.71 handle, thus forming a shooting star as a weekly candle. This is of course quite bearish sign, which indicates that pair is not ready to break higher at the moment. Next week any type of supportive candles around 0.70 handle, at least initially in the week, would offer short-term buying opportunity, while resistive candles above 0.7180 and 0.7250 handle in extension would be short-term selling signal.
Read more...- Friday, 29 January 2016
- Weekly Technical Analysis
EUR/USD Weekly Forecast – 01 February – 05 February
It was a steadier beginning of the last week for euro, but pair was pushed higher after FOMC statement and even tested 1.0960 area as a resistance, but pulled back by the end of the week, all the way to 1.08 handle, thus remaining within consolidation range we have been in for quite some time now. As for next week, with no major data releases from the USA, we would be focused on NFP figures. Weaker than expected figures would bring rebound to euro but with resistance around 1.10 handle, while better than forecasted data could push euro down all the way to 1.07 handle, which is the extended bottom of consolidation range.
Read more...- Friday, 29 January 2016
- Weekly Technical Analysis
GBP/USD Weekly Forecast – 01 February – 05 February
Sterling tried to rally in the course of the last week, supported by good UK job figures and dovish FOMC statement but found area around 1.44 handle to be too resistive at the moment in order to pull back to 1.42 handle by the ending of the week. This is the sign that British pound is generally weak at the moment, since weekly candle is a shooting star. As for next week, pair is likely to find support around 1.41 handle, while we can expect resistance above 1.4350 area so these would be our short-term buying and selling points.
Read more...- Friday, 29 January 2016
- Weekly Technical Analysis
AUD/USD Weekly Forecast – 01 February – 05 February
Aussie managed to rebound in the course of the last week, breaking even above 0.71 handle at one moment, but area around 0.7130 level proved to be too resistive for Aussie, with pair pulling back slightly, but with firm resistance at previous resistive point at 0.7040 level. Next week, main market mover will be RBA rate decision and NFP figures. Any type of supportive candles around 0.70 handle, at least initially in the week, would offer short-term buying opportunity, while resistive candles above 0.7150 and 0.72 handle in extension would be short-term selling signal.
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