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Weekly Outlook and Forecast
Note: This section is meant for overall Forex trading outlook and is updated on weekends. The analysis consists of Technical, Fundamental and Psychological factors but a lot of emphasis is given to the pure price action. This is one of the most popular section and helps for short-term to longer term trades. For daily Technical Analysis, please click on the green buttons on the top left-hand side of this page.
EUR/USD: The break over 1.3739 had strengthened the bullish outlook for further gains but considering the sideways moves of the last week and the fact that the daily highs have been getting lower, we stay neutral initially. On the downside even if there is any... ⇒ continue reading EUR/USD outlook.
USD/CHF: On the upside the fist important resistance is expected in the range of 0.8937 to 0.8951. A break there should bring further consolidation towards the 55-day EMA resistance which is currently at... ⇒ continue reading USD/CHF outlook.
USD/JPY: Two factors which go in favor of expecting further gains are: The support well ahead of the support zone of 100.39 to 100.64 as indicated in a post titled "What USD/JPY is waiting for to decide the near-term direction?" and the fact that the pair tried to break the 55-day EMA resistance. ⇒ continue reading USD/JPY outlook.
GBP/USD: The overall outlook stays bullish for GBP/USD, however the closing of the last week indicates that the possibilities of some more consolidations cannot be ruled out. On the downside a support is expected in the range of... ⇒ continue reading GBP/USD outlook.
AUD/USD: On one hand the failure to retest 0.9085 indicates the fear for the upside but on the other hand every drop has been finding support near or at 55-day day EMA. Also the daily lows have been getting slightly... ⇒ continue reading AUD/USD outlook.
GBP/JPY: The pair is struggling against a resistance zone which had made it to struggle during January 3rd to 21st, 2014. However the recent support keeps the bullish outlook intact because of the following reasons ... ⇒ continue reading GBP/JPY outlook.
EUR/JPY: The resistance faced exactly at January 28, 2014's 141.27 is keeping us a bit cautious and hence neutral for further gains, till the pair does not break above 141.27 decisively. However, we remain in favor of... ⇒ continue reading EUR/JPY outlook.
AUD/JPY: The strong recovery from 88.24 indicates that a near-term bottom might already be in place, however the pair is against a strong resistance zone and that argues with the above outlook. AUD/JPY had remained in a perfect sideways mode from the second week of September 2013 to the... ⇒ continue reading AUD/JPY outlook.
For the trading outlook of the currency pairs please check Forex Forecast.
Last Updated on Monday, 24 February 2014 00:07 GMT
Recommended Resources and Notices
A review of Australian dollar's weakness considering the fundamentals as well as the overall price-action at "Australian Dollar’s fall – Was it just the employment numbers?"
Revisiting the Eurozone Divergence And Convergence with the key economic data of the member countries for a clean snapshot.
USD/JPY has achieved the first mile-stone after hitting 105 after 5 years. Do check what may be in the store at "USD/JPY 2014 Outlook – Is 110 a question of “when” not “whether”?"
EUR/USD is also seems to be making new records. Well, not exactly new in the overall terms but considering the past couple of years. Do check what the year 2014 may have to show us at "EUR/USD 2014 outlook – The pair is at two years high but is it done?"
The 2014 outlook of USD/CHF takes into account the micro-economic factors, political factors and some of the tax changes in 2014. The same is not to be missed and can be read at "USD/CHF 2014 Outlook – Who Is Winning As The Safe Haven Currency?". The same follows the observations expressed in the previous update at "Is USD/CHF Heading For A Nosedive?". These both posts take into the account the price action during the past decade. This analysis is with a longer-term view which can span a couple of months or even more.
Is EUR/JPY Coming Out of The Reverse Gear?: Another analysis considering the near-term outlook for EUR/JPY to brainstorm if the pair may hit 145.00 in the coming days.
GBP/JPY is also in the race with EUR/JPY and why not, the positive correlation is quite strong between these pairs. What new has happened recently and what can be expected in the near-term, check the thoughts at Is GBP/JPY Up For Reversal?
Why do we remain in the favor of GBP/USD hitting 1.6500 and more in the coming days. The reason is simple that the pair has come out of a resistance which has been in place for over 4 years. Do check GBPUSD broke 4 year old resistance trend line.
Daily Forex Resistance and Support levels
|PAIR||Res 1||Res 2||Support 1||Support 2|
Last Updated on Tuesday, 25 February 2014 05:49 GMT