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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.



Weekly Technical Outlook And Review Print E-mail
Weekly Forex Technicals | Written by IC Markets | Jul 25 16 05:05 GMT
From this angle, the shared currency now appears to heading in the direction of a long-term weekly support level coming in at 1.0819. This line has, at least in our opinion, certainly stood the test of time and could play a significant role in the near future, should the bears continue to dominate.
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EURUSD - Faces Further Weakness Threats Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jul 25 16 03:08 GMT
EURUSD - With the pair following through lower the past week, further downside pressure is likely. Support lies at the 1.0900 level. Further down, support comes in at the 1.0850 level where a violation will aim at the 1.0800 level. A break of here will target the 1.0750 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, on the upside, resistance comes in at 1.1000 level with a cut through here opening the door for more upside towards the 1.1050 level. Further up, resistance lies at the 1.1100 level where a break will expose the 1.1150 level. All in all, EURUSD remains biased to the downside in the medium term.
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GOLD - Remains Vulnerable To The Downside On Correction Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jul 25 16 02:54 GMT
GOLD - Having the commodity closed lower on a follow -through on the back of its previous week losses the past week, more weakness is envisaged. On the downside, support comes in at the 1,310.00 level where a break will turn attention to the 1,300.00 level. Further down, a cut through here will open the door for a move lower towards the 1,290.00 level. Below here if seen could trigger further downside pressure targeting the 1,1280.00 level. Conversely, resistance resides at the 1,340.00 level where a break will aim at the 1,350.00 level. A turn above there will expose the 1,360.00 level. Further out, resistance stands at the 1,370.00 level. All in all, GOLD looks to weaken further on correction
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Weekly Technical Outlook And Review Print E-mail
Weekly Forex Technicals | Written by IC Markets | Jul 18 16 07:21 GMT
Although the single currency ranged around 150 pips during the course of last week, price remained relatively unchanged by the close. As far as structure is concerned, weekly movement continues to trade mid-range between a long-term weekly resistance area coming in at 1.1533-1.1278, and a long-term weekly support line seen at 1.0796. Both areas have stood the test of time, and with that either one could play a significant role during trading this week.
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USDCHF - Closes Flat, Vulnerable To The Downside Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jul 18 16 02:20 GMT
USDCHF - Having the pair closed flat the past week, it remains vulnerable to the downside in the new week. On the downside, support lies at the 0.9750 level. A turn below here will open the door for more weakness towards the 0.9700 level and then the 0.9650 level. Below here will expose the 0.9600 level. On the upside, resistance resides at the 0.9850 level where a break will clear the way for more strength to occur towards the 0.9900 level. Further out, resistance comes in at the 1.0000 level and then the 1.0050 level. All in all, USDCHF remains biased to the downside after rejecting higher level prices the past week.
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EURUSD - Sets Up To Weaken Further On Loss Of Momentum Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jul 18 16 02:19 GMT
EURUSD - With the pair rejecting higher price to close almost flat the past week, more weakness is expected in the new week. Support lies at the 1.1000 level. Further down, support comes in at the 1.0950 level where a violation will aim at the 1.0900 level. A break of here will target the 1.0850 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, on the upside, resistance comes in at 1.1100 level with a cut through here opening the door for more upside towards the 1.1150 level. Further up, resistance lies at the 1.1200 level where a break will expose the 1.1250 level. All in all, EURUSD remains biased to the downside in the medium term.
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GOLD - Triggers Corrective Pullback Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jul 18 16 02:17 GMT
GOLD - The commodity triggered a corrective weakness the past week leaving risk lower. But it could move a little bit higher in the new week following its Friday close(see daily chart). On the downside, support comes in at the 1,330.00 level where a break will turn attention to the 1,310.00 level. Further down, a cut through here will open the door for a move lower towards the 1,300.00 level. Below here if seen could trigger further downside pressure targeting the 1,1290.00 level. Conversely, resistance resides at the 1,350.00 level where a break will aim at the 1,360.00 level. A turn above there will expose the 1,370.00 level. Further out, resistance stands at the 1,380.00 level. All in all, GOLD looks to weaken further on correction
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Market Review & Outlook Print E-mail
Weekly Forex Technicals | Written by Forex.com | Jul 16 16 07:27 GMT
If the Bank of England is giving strong indications of monetary policy easing next month and the Federal Reserve continues to be provided with evidence of an improving economy and rising inflation to support a near-term interest rate hike, conditions could soon be ripe for a further continuation of pressure on GBP/USD. Although the knee-jerk rise for sterling on Thursday was reasonable considering the BoE's inaction, the prospect of a near future UK rate cut coupled with an increasing foundation for a Fed rate hike could easily push GBP/USD back on its downward spiral. Thursday's surge brought the currency pair back up to approach key resistance around the 1.3500 level before quickly paring its gains. If price is able to stay below 1.3500, it would be a strong bearish indication, in which case all eyes should revert back to the 1.3000 psychological support level. Any sustained breakdown below 1.3000 could put GBP/USD on track once again to begin targeting significantly further downside around the 1.2500 objective.
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Weekly Technical Outlook And Review Print E-mail
Weekly Forex Technicals | Written by IC Markets | Jul 11 16 08:04 GMT
From the top, we can see that weekly movement continues to trade mid-range between a long-term weekly resistance area coming in at 1.1533-1.1278, and a long-term weekly support line seen at 1.0796. Both areas have stood the test of time, and with that either one could play a significant role during trading this week.
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EURUSD - Threatens Further Weakness Towards 1.0909 Level Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jul 11 16 01:45 GMT
EURUSD - With a reversal of its previous week's gains seen the past week, more decline is envisaged. Support lies at the 1.1000 level. Further down, support comes in at the 1.0950 level where a violation will aim at the 1.0900 level. A break of here will target the 1.0850 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, on the upside, resistance comes in at 1.1100 level with a cut through here opening the door for more upside towards the 1.1150 level. Further up, resistance lies at the 1.1200 level where a break will expose the 1.1250 level. All in all, EURUSD remains biased to the downside in the medium term.
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