Latest Forex Updates
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: Interestingly the week's low was 1.3833 and that was exactly the 61.8% retracement level of the fall from 1.4940 to 1.2042. This fact suggests that the previous resistance is now acting as support. The overall... ⇒ continue reading EUR/USD outlook.
USD/CHF: Considering the wide gaps between the lows and the closing prices of the past 2 daily candles, the possibilities of some upward consolidations cannot be ruled out... ⇒ continue reading USD/CHF outlook.
USD/JPY: The strong fall has brought bearish sentiments into the picture and indicate a near-term topping. The bearish outlook gets its strength as the resistance at 103.76 suggested that support zone of December 19, 2013 to January 21, 2014 has now turned into resistance. ⇒ continue reading USD/JPY outlook.
GBP/USD: The current price action is finding support around 55-day EMA. The price action has also been trying to break the support level of 38.2% retracement of the gains from 1.6252 to 1.6822 but the daily closings have been continuously over this support level... ⇒ continue reading GBP/USD outlook.
AUD/USD: The pair has been staying in sideways mode, more or less, since February 6th i.e. over a month now. The low of this range has been 0.8890 and the high was 0.9080. The recent brief upward jump tried to break over the... ⇒ continue reading AUD/USD outlook.
GBP/JPY: The facts that the pair failed to test January 22nd's resistance of 173.65 merely by 7 pips and then broke below not only 168.83 of March 3rd but the short-term support trend-line also, brings short-term... ⇒ continue reading GBP/JPY outlook.
EUR/JPY: Though recently EUR/JPY had gone to as high as 145.69 but could not sustain over this psychological level had had fallen down strongly to 136.23. The recovery from there failed much below... ⇒ continue reading EUR/JPY outlook.
AUD/JPY: The recent support clearly indicated that the psychological support is holding at 90.00. However the fall from 94.48 indicated that the psychological resistance of 95.00 is also equally strong... ⇒ continue reading AUD/JPY outlook.
For the trading outlook of the currency pairs please check Forex Forecast.
Last Updated on Sunday, 16 March 2014 11:27 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, 01 April 2014 03:06 GMT