Weekly price is located below SMA with period 100 (100-SMA) and SMA with the period 200 (200-SMA) for the primary bearish market condition. The price is ranging within 0.7547 bullish reversal resistance level and 0.6750 support level with the symmetric triangle pattern to be formed for the direction. If the price will break 0.7547 resistance level so we may see the bullish reversal to be started on this timeframe with the secondary ranging condition.If price will break 0.6750 ...
EUR/USD's rebounded last week indicated short term bottoming at 1.2246. Further recovery could be seen back to 1.2599 resistance. Considering bullish convergence condition in daily MACD, break of 1.2599 will be the first sign of medium term bottoming and bring stronger rebound to 1.2886 key resistance next. On the downside, break of 1.2246 is needed to confirm fall resumption. Otherwise, we'd expect more corrective trading ahead. ...
US Dollar Forecast- Dollar’s Rally May Be Just Starting if Risk Aversion Ignites this Week The Dollar finally took a breather this past week. After 12 consecutive weeks of climb, the Dow Jones FXCM Dollar (ticker = USDollar) fell 0.7 percent. Japanese Yen Forecast – Don’t Sleep on the Japanese Yen - Big Things on the Horizon The Japanese Yen surged versus all major counterparts as the US S&P 500 saw its worst weekly decline in over two years. There’s little economic event ...
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