Last Updated (Sunday, 29 January 2012 12:23) GMT
| Forex Trading: Weekly Outlook & Forecast |
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Note: This Forex Trading outlook section is meant for mid to longer term Forex outlook/analysis and is updated on weekends. This analysis consists of Technical, Fundamental and Psychological factors and is not simply Technical analysis and is not meant for short-term Forex trading. For daily Forex Technical Analysis, please click on the green buttons under Technical Analysis on left-hand side of this page.
EUR/USD: The currency pair broke the resistance mentioned last weekend and then moved further up as we had mentioned towards 1.3230. The currency pair went as high as 1.3233 or a few pips below the Fibonacci 38.2% retracement of the downward move from October 27th to the recent bottom of January 15th. The strong upward correction and the break above the upper edge of the daily Ichimoku cloud indicate that we can expect some more11...... (continue reading Euro Dollar Forecast)
USD/CHF: The strong drop and price action of the last week suggest that we can expect some more downward correction towards the next support level of 0.9064/0.9065. This level represents the support level during the beginning of December 2011 and is also near the Fibonacci 50% retracement... (continue reading US Dollar-Franc Forecast ).
Please refer to "Technical Analysis" on the left hand side of this page for short term Forex technical analysis for day trading.
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| Click here for detailed Forex Analysis/Forecasts. |
Last Updated (Tuesday, 31 January 2012 01:10) GMT
| Daily Resistance and Support levels for Trade Entry |
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| PAIR |
Res 1 |
Res 2 |
Support 1 |
Support 2 |
Outlook |
| EUR/USD |
1.3195 |
1.3260 |
1.3075 |
1.3015 |
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| USD/JPY |
76.65 |
77.00 |
76.10 |
75.90 |
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| EUR/JPY |
101.05 |
102.80 |
99.75 |
99.25 |
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| GBP/JPY |
120.60 |
121.15 |
119.50 |
119.05 |
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| GBP/USD |
1.5745 |
1.5775 |
1.5675 |
1.5630 |
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| AUD/JPY |
81.40 |
82.05 |
80.30 |
79.85 |
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| AUD/USD |
1.0630 |
1.0670 |
1.0540 |
1.0490 |
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| USD/CHF |
0.9205 |
0.9245 |
0.9130 |
0.9085 |
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[ Please check the time of update. Please also note that outlook for a currency pair represents the trading approach for that time and not the general market direction. Outlook in Red means "Down", Blue means "Up"Please check detailed Forex trading analysis and forecasts at our Forex Analysis page
