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Forex Weekly Technical Reports

Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technician. The bottom line when utilizing any type of analytical method, technical or otherwise, is to stick to the basics, which are methodologies with a proven track record over a long period. After finding a trading system that works for you, the more esoteric fields of study can then be incorporated into your trading toolbox.



USDCHF - Vulnerable, Risk Points Lower Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Apr 27 15 02:08 GMT
USDCHF - With a reversal of almost all of its past week gains seen at the end of the week to close slightly higher, USDCHF now faces the risk of a move lower in the new week. On the downside, support comes in at the 0.9500 level. A turn below here will open the door for more weakness to occur towards the 0.9450 level and then the 0.9386 level. A cut through here will open the door for additional weakness towards the 0.9300 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 0.9600 level with a breach targeting the 0.9650 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9700 level. All in all, the pair remains biased to the downside.
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EURUSD - Risk Continues To Point Higher Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Apr 27 15 02:07 GMT
EURUSD - Outlook for EUR remains to the upside after closing higher at the end of the week following a reversal of most of its losses. This development leaves risk higher in the new week. Resistance is seen at 1.0950 level with a cut through here opening the door for more downside towards the 1.1000 level. Further up, resistance lies at the 1.1050 level where a break will expose the 1.1100 level. Conversely, support lies at the 1.0800 level where a violation will aim at the 1.0750 level. A break of here will aim at the 1.0700 level with a turn below that level targeting the 1.0650 level. All in all, EURUSD risk continues to point higher as it looks to recover further.
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USDCHF - Sets Up For More Weakness Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Apr 20 15 03:05 GMT
USDCHF - The pair declined the past week reversing its previous week gains and opening the door for further downside pressure in the new. Although, we may see a mild recovery higher before it turns back lower again. On the downside, support comes in at the 0.9467 level. A turn below here will open the door for more weakness to occur towards the 0.9400 level and then the 0.9350 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 0.9600 level with a breach targeting the 0.9650 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9700 level. All in all, the pair remains biased to the downside.
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EURUSD - Recovering With Caution Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Apr 20 15 03:04 GMT
EURUSD - Outlook for EUR remains to the upside after closing higher the past week. However, a mild pullback may occur in the new week as price hesitation signs are now seen on lower level charts. Resistance is seen at 1.0850 level with a cut through here opening the door for more downside towards the 1.0900 level. Further up, resistance lies at the 1.0950 level where a break will expose the 1.1000 level. Conversely, support lies at the 1.0700 level where a violation will aim at the 1.0650 level. A break of here will aim at the 1.0600 level with a turn below that level targeting the 1.0550 level. All in all, EUR remains biased to the upside on recovery.
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USDCHF - Rallies, Eyes Further Upside Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Apr 13 15 02:38 GMT
USDCHF - With USDCHF taking back its two-week losses to close higher at the end of the week, risk of more strength is expected in the new week. This view is consistent with its broader medium term uptrend. On the downside, support comes in at the 0.9700 level. A turn below here will open the door for more weakness to occur towards the 0.9624 level and then the 0.9450 level. Conversely, resistance resides at the 0.9900 level with a breach targeting the 0.9950 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 1.0000 level. Its daily RSI is bullish and pointing higher suggesting further upside. All in all, the pair remains biased to the upside in the medium term.
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EURUSD - Looks To Resume Broader Downtrend Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Apr 13 15 02:37 GMT
EURUSD - With EUR selling off strongly the past week, it looks to resume its broader medium term downtrend. On the downside, support lies at the 1.0500 level where a violation will aim at the 1.0461 level. A break of here will aim at the 1.0400 level with a turn below that level targeting the 1.0350 level. Its weekly RSI is bearish and pointing lower supporting this view. Resistance is seen at 1.0700 level with a cut through here opening the door for more downside towards the 1.0750 level. Further up, resistance lies at the 1.0800 level where a break will expose the 1.0850 level. All in all, EUR remains biased to the downside in the medium term.
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IMM Positioning: Bearish EUR Positions At New Record High Print E-mail
Weekly Forex Technicals | Written by Danske Bank | Mar 30 15 10:37 GMT
IMM positioning data released on Friday revealed that speculators are again looking for renewed EUR weakness. In fact, with the considerable bearish positioning in the week to 24 March, non-commercial positioning in the EUR is at its most bearish level since summer 2012. The buildup in short EUR positions is also the main driver behind the expansion in bullish aggregate USD positions (see page 2) which has returned non-commercial positioning in the greenback to historical levels above the 98th percentile. Fundamentally, we believe that the stage is set for another move lower in EUR/USD and that the renewed acceleration in speculative positioning remains a supportive factor. Specifically, we expect the next round of sustained EUR/USD weakness to be fuelled by better US data which we are likely getting closer to with this week's US non-farm payrolls (due on Good Friday, 3 April). We look for a moderate headline figure (230k) and if earnings prove healthy as well, this should confirm that the labour market will not be an obstacle for the Fed to start hiking rates over the summer, paving the way for the next round of USD strength.
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USDCHF - Looks To Keep Recovery Tone Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Mar 30 15 01:54 GMT
USDCHF - With USDCHF still facing recovery higher risk, a move higher could occur in the new (see daily chart) although closing lower the past week. On the downside, support comes in at the 0.9550 level. A turn below here will open the door for more weakness to occur towards the 0.9500 level and then the 0.9450 level. Conversely, resistance resides at the 0.9700 level with a breach targeting the 0.9750 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9800 level. All in all, the pair remains biased to the downside in the short term.
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EURUSD - Vulnerable On Price Failure Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Mar 30 15 01:52 GMT
EURUSD - With EUR closing almost flat the past week, it faces downside risk as long the 1.1051/96 levels cap. Resistance is seen at 1.0950 level with a cut through here opening the door for more downside towards the 1.1000 level. Further up, resistance lies at the 1.1050 level where a break will expose the 1.1096 level. Its weekly RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.0800 level where a violation will aim at the 1.0750 level. A break of here will aim at the 1.0700 level with a turn below that level targeting the 1.0766 level, its Mar 23’2015 low . All in all, EUR remains biased to the upside on correction though seen hesitating on Tuesday.
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USDCHF - Weakens On Loss Of Upside Momentum Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Mar 23 15 02:11 GMT
USDCHF - With the pair weakening to reverse its previous week gains, it now faces further downside pressure in the new week. On the downside, support comes in at the 0.9624 level. A turn below here will open the door for more weakness to occur towards the 0.9550 level and then the 0.9500 level. Its weekly RSI is bearish and pointing lower supporting this view. Resistance resides at the 0.9800 level with a breach targeting the 0.9850 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9900 level All in all, the pair remains biased to the downside on Correction
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