- Friday, 19 June 2015
- Weekly Technical Analysis
GBP/USD Weekly Forecast - 22 June - 26 June
Sterling broke higher in the course of the last week, going above our long-term target at 1.58 handle and continuing its uptrend all the way to above 1.59 handle which proved to be resistive at the moment.With no major data releases next week, we can expect a bit less volatility especially since we are quite near 1.60 handle which is a major resistance on the long-term charts. Therefore, any type of resistive candles around this area should offer short-term selling opportunity, while supportive candles around 1.58 handle, which was previously resistive, would be short-term buying signal. In long-term trends, we have no interest in selling this pair, as there is plenty of supportive points below there from which pair could easily rebound. Our initial buying target is set at 1.60 handle, which pair will certainly test sooner or later, and we believe that pair could even go all the way to 1.65 handle when the pair break above this area.
Read more...- Friday, 19 June 2015
- Weekly Technical Analysis
AUD/USD Weekly Forecast - 22 June - 26 June
Aussie was pushed higher in the course of the last week, due to dovish FOMC Statement, and went all the way to 0.7850 area, further supported by the rebound on the gold markets. We cannot expect much volatility next week, since there will be no major data releases both from Australia and USA. Pair is likely to find support around 0.77 handle and 0.7650 area in extension so these would be our short-term buying points. On the
Read more...- Friday, 12 June 2015
- Weekly Technical Analysis
EUR/USD Weekly Forecast - 15 June - 19 June
Euro break initially during the last week and went all the way to 1.14 handle, but with concerns surrounding Greek debt negotiations and with this area being quite resistive pair pulled back to 1.12 handle, though it by the end it managed to rebound and once again indicate possibility of a break higher. With no major data releases from Eurozone next week, we would pay more attention to US data, with focus on FOMC interest rate
Read more...- Friday, 12 June 2015
- Weekly Technical Analysis
GBP/USD Weekly Forecast - 15 June - 19 June
Sterling broke above 1.55 handle in the course of the last week, supported by better than expected Trade Balance and Industrial Production data, and with a weekly closing well above this level we believe that pair will continue its uptrend next week as well. Focus of the next week will be on UK job figures and BoE Meeting Minutes as well as FOMC interest rate decision. Weaker than expected figures would push pair back to 1.540 area,
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