- Saturday, 28 July 2018
- Weekly Technical Analysis
EUR/USD Weekly Forecast - 30 July - 3 August
As we enter the traditionally slow month of August, I cannot help but notice that the EUR/USD pair looks to be very stagnant. This is probably because we are awaiting the results of the Brexit, which although much of the focus is on the United Kingdom, the reality is that the European Union has a lot of skin in the game as well. While the headlines may suggest that the United Kingdom will be the one hurt, the reality is that both of these economies will suffer if things go poorly.
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- Saturday, 28 July 2018
- Weekly Technical Analysis
GBP/USD Weekly Forecast - 30 July - 3 August
The British pound has dropped a bit during the week, but still remains well above the 1.30 level, as we continue to hover in a consolidated phase. The question now is whether or not this is an accumulation phase, or perhaps simply the market just giving up for a while. I think that we will eventually see buyers come back into this marketplace, but I also recognize that this could go on for quite some time. Because of this, longer-term traders may be looking to pick up a bit of value here in the British pound, but I also believe that they are a bit skittish about buying too much. If you are a longer-term trader, and you have an upward bias like I do longer-term, then perhaps you should be building a position slowly, with little bits and pieces along the way to eventually take advantage of what hopefully will be a celebratory move later this year once we get the Brexit details figured out.
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- Friday, 29 June 2018
- Weekly Technical Analysis
EUR/USD Weekly Forecast - 2 July - 6 July
Euro was initially pulled lower in the course of the last week going all the way to 1.1525 level on Wednesday but formed some amount support in this area and managed to completely rebound in the course of the Friday session breaking above 1.1650 handle which was of course bullish indicator. Next week, focus will be more on US figures as there is no big data from Eurozone.
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- Friday, 29 June 2018
- Weekly Technical Analysis
GBP/USD Weekly Forecast - 2 July - 6 July
Sterling found area near 1.33 handle to be too resistive in the course of the last week and was then pushed lower going all the way to 1.3050 area, which proved to be supportive enough at the moment for pair to completely rebound on Friday, and close the week near 1.32 handle, which is currently being tested. As for next week, focus will be on UK PMI figures and US employment data. We believe that pair will find some amount of support around 1.31 and 1.3050 area and resistance above 1.34 handle.
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