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Re: Profiforex.com - Weekly Market Analysis

Postby Profiforex-Victory » Mon Nov 06, 2017 1:00 pm

Weekly Forex Forecast For Major Currency Pairs

November 5 - 10.


EURUSD

The pair made some gains from Monday to Wednesday then declined on Friday. The outlook of the EUR looks bearish and will likely continue till the end of the week. So the support lines at 1.1600, 1.1550 and 1.1500 should be tested, and the resistance lines at 1.1700 and 1.1750 will limit any rallies. However, immediate resistance is now pegged near the 1.1630 region, support-turned-resistance, and any subsequent recovery attempts might now be capped near the 1.1660-65 zones.

Key Levels: R1- 1.1667, R2- 1.1726, R3- 1.1750. S1- 1.1574, S2- 1.1550, S3- 1.1481


USDCHF
The pair had a brief spike down to 0.9948 on Friday but hastily recovered its poise and finished the week at parity, having briefly reached 1.0024.
No further important movement was seen last week, but bullishness was maintained and price closed above the psychological level of 1.0000. Technical indicators are looking positive generally, which makes the outlook for this week bullish. The pair could text the resistant levels at 1.0050, 1.0100 and 1.0150 in the next two weeks.

Key Levels: R1- 1.0050, R2- 1.0100, R3- 1.0150. S1- 0.9960, S2- 0.9914, S3- 0.9882.



GBPUSD

The pair gained 160 pips last week following Friday’s US jobs report, but ended the week at 1.3075 after testing the distribution territory at 1.3300. There was further price decline, but the accumulation territory at 1.3000 was able to hold. The GBPUSD now has a bearish outlook and in other instances, it is neutral. This week, a break of Fridays low of 1.3038 would see the pair move toward the 1.3023/3000 levels and could head lower to 1.2980.

Key Levels: R1- 1.3083, R2- 1.3127, R3- 1.3222. S1- 1.3033, S2- 1.2989, S3- 1.2938.


USDJPY

The pair began the week with a spike to fresh nearly eight-month high at 114.73. Overall, technical indicators remains bullish and favors final break higher and test of next targets at 115.00 (round-figure) and 115.50 (10 Mar high).

Key Levels: R1- 114.05, R2- 114.46, R3- 115.27. S1- 113.65, S2- 113.24, S3- 112.84

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Re: Profiforex.com - Weekly Market Analysis

Postby Profiforex-Victory » Mon Nov 27, 2017 12:20 pm

Weekly Forex Outlook on Major Currency Pairs

(November 26 - December 1) - Profiforex.com


EURUSD

The pair shot up by 210pips last week and closed above the support and resistant line at 1.1900 and 1.1950 respectively. Meanwhile, doubts that the Fed may be able to deliver further interest rate increases, on concerns over stubbornly low inflationary pressure, kept the US Dollar bulls on the defensive and further collaborated to the pair's strong up-move. The outlook on the EURUSD is bullish for December and the resistance level at 1.2000 should be reached next month.
Key Levels: R1- 1.1972, R2- 1.2013, R3- 1.2080. S1- 1.1863, S2- 1.1796, S3- 1.1755

USDCHF

There was further decline on the USDCHF last week, especially Friday when it fell to 0.9785. The pair has dropped about 220 pips this month and 100 of those were lost last week. This has created a confirmation bearish pattern. With the daily momentum indicators pointing increasingly lower, a sustained break of 0.9785/0.9800 would allow a run towards 0.9725/30 and then to 0.9700/05.
Key Levels: R1- 0.9804, R2- 0.9822, R3- 0.9865. S1- 0.9779, S2- 0.9761, S3- 0.9736.

GBPUSD

Friday’s gain helped the pair reach a price of 1.3359 and this has created a bullish signal. With this ongoing momentum, traders are hoping the pair would push up to the distribution territories at 1.3350, 1.3400, and 1.3450. GBPUSD seems to be unfazed by the ongoing Brexit negotiations that saw UK PM, May in Brussels trying to beat out a deal with Donald Tusk.
Key Levels: R1- 1.3350, R2- 1.3400, R3- 1.3450. S1- 1.3288, S2- 1.3242, S3- 1.3206.


USDJPY

The Pair has lost nearly 300p pips since the start of this month as it tested the supply level at 114.50 on November 6. It now targets the supply levels at 111.00, 110.50 and 110.00. Only firm break above 200SMA would sideline bearish threats while return and close above daily cloud top is needed to neutralize and signal higher base formation.
Key Levels: R1- 111.77, R2- 111.96, R3- 112.27. S1- 111.00, S2- 110.50, S3- 110.00
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