- Saturday, 27 May 2017
- Weekly Technical Analysis
EUR/USD Weekly Forecast – 29 May – 02 June
Euro broke above 1.12 handle in the course of the last week but area above 1.1250 handle proved to be too resistive at the moment with pair spending rest of the week going back and forth with support around 1.1160 level and resistance above 1.1230 area to a weekly closing around 1.1180 level. As for next week we can expect some volatility with US figures. Any type of supportive candles around 1.11 area would be short-term buying signal, while resistive candles above 1.1250 and 1.13 level would be short-term selling opportunity.
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- Saturday, 27 May 2017
- Weekly Technical Analysis
GBP/USD Weekly Forecast – 29 May – 02 June
Sterling initially broke higher in the course of the last week, but did not manage to hold above 1.30 handle, and spent rest of the week in a decline going even below 1.28 handle, as Tory lead started to shrink in the latest polls. This is also a sign that pair is not strong enough at the moment for a major breakthrough. As for next week we would be focused on UK PMI and US NFP figures. On a short-term basis, we believe that pair will find some amount of support around 1.2730 and 1.27 area initially next week, while area above 1.29 handle should offer some amount of resistance.
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- Saturday, 27 May 2017
- Weekly Technical Analysis
AUD/USD Weekly Forecast – 29 May – 02 June
Aussie once again broke above 0.75 handle in the course of the last week, and once again found plenty of resistance above this level going back to 0.7450 level by the end of the week. However, as there were no major data releases it was an overall steadier week. We can expect more volatility with next week's Australian Retail Sales and US NFP figures. Pair is likely to find support around 0.7380 and 0.7350 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7550 handle.
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- Sunday, 21 May 2017
- Weekly Technical Analysis
EUR/USD Weekly Forecast – 22 May – 26 May
Euro spent last week in a huge incline, forming support around 1.09 handle and breaking above 1.12 area, which at the moment offers some amount of resistance. The uptrend was mostly supported by overall weakening of US dollar. Next week we would be more focused on US figures. Any type of supportive candles around 1.11 area would be short-term buying signal, while resistive candles above 1.1250 and 1.13 level would be short-term selling opportunity.
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