- Friday, 12 May 2017
- Weekly Technical Analysis
AUD/USD Weekly Forecast – 15 May – 19 May
Aussie pulled back in the course of the last week going all the way to 0.7320 level where it found some amount of support, and managed to rebound by the end of the week finishing it near 0.74 area, but it seems that there is some negative momentum in the pair for now. As for next week we would pay attention to Australian job figures. Pair is likely to find support around 0.7330 and 0.73 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.75 handle.
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- Friday, 05 May 2017
- Weekly Technical Analysis
EUR/USD Weekly Forecast – 08 May – 12 May
Euro continued its uptrend in the course of the last week going all the way to 1.10 handle, by the end of the week, which is still quite resistive at the moment. The incline is further supported by polls showing that Macron won in French presidential debate as well as mixed figures coming from the USA. As for next week, we expect steadier first part, with focus on US figures in the second part of the week. Any type of supportive candles around 1.09 area would be short-term buying signal, while resistive candles above 1.1050 and 1.11 level would be short-term selling opportunity.
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- Friday, 05 May 2017
- Weekly Technical Analysis
GBP/USD Weekly Forecast – 08 May – 12 May
Sterling tried to break higher in the course of the last week going all the way to 1.2930 level, but this area kept being too resistive, with pair pulling back all the way to 1.2830 area, where it found significant amount of support, and being supported by rather good UK PMI figures finished the week above 1.2950 level. As for next week focus will be on BoE interest rate decision and inflation report as well as US figures. On a short-term basis, we believe that pair will find some amount of support around 1.2880 and 1.2830 area initially next week, while area above 1.3050 handle should offer some amount of resistance.
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- Friday, 05 May 2017
- Weekly Technical Analysis
AUD/USD Weekly Forecast – 08 May – 12 May
Aussie tried to break higher initially last week, but area above 0.7550 handle proved to be too resistive at the moment, with pair pulling back all the way below 0.74 handle, but it in the end found some amount of support around 0.7370 level and managed to finish the week around 0.74 handle. Decline was mostly caused by weaker than expected Australian Trade Balance figures. Next week, we would pay attention to US data more and of course commodity prices. Pair is likely to find support around 0.7330 and 0.73 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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