- Friday, 26 June 2015
- Weekly Technical Analysis
EUR/USD Weekly Forecast - 29 June - 03 July
After initial uptrend, euro found resistance above 1.1350 area, and pulled back all the way to below 1.12 handle, as Greek concerns persist, with no deal insight and further negotiations scheduled for Saturday. As for next week we would pay attention to Eurozone CPI and US NFP figures. Weaker than expected figures could push pair back to 1.1050 handle initially and then even 1.10 area in extension so this is where we would
Read more...- Friday, 26 June 2015
- Weekly Technical Analysis
GBP/USD Weekly Forecast - 29 June - 03 July
After it did not manage to break above 1.59 handle, Sterling pulled back in the course of the last week, as it was a bit overbought at the moment and quite near to quite resistive area at 1.60 handle, but also there were no major data releases that would serve as a support. Next week will be marked with UK PMI data and US NFP figures. Pair is likely to find some amount of support around 1.5650 handle, at leas initially, and then
Read more...- Friday, 26 June 2015
- Weekly Technical Analysis
AUD/USD Weekly Forecast - 29 June - 03 July
Aussie remained within consolidation range during the last week, being traded in a tight range within 150 points with a support around 0.7650 area and resistance above 0.7750 level. There were no major data releases so pair was mostly influenced by commodity prices. Next week we would be focused on Australian Trade balance and Retail Sales figures as well as US NFP report. On a short-term basis, any type of resistive candles
Read more...- Friday, 19 June 2015
- Weekly Technical Analysis
EUR/USD Weekly Forecast - 22 June - 26 June
After initial decline euro managed to rebound in the course of the last week, mostly due to more dovish than expected dovish FOMC statement and as there were no important events from Eurozone. However, gains were a bit offset by the fact that Greece is just step away from default. With no major data releases next week we can expect a bit of consolidation initially in the week, with traders being cautious awaiting for news regarding the Greece. We can expect some short-term support around 1.1250 handle, but this is not major supportive area for this pair and could work only initially in the week. Above 1.1430 level and near 1.15 handle in extension there is plenty of resistive points that should offer short-term selling opportunity. Long-term looking we believe, that pair has bullish potential for hitting 1.15 handle that should offer plenty of resistance and we would not buy the pair before we see break above this area, especially with Greek concerns in mind. We have no interest in selling the pair until we see break below 1.10 handle.
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