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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 | Jun 27 16 07:09 GMT
The weekly resistance area at 1.1533-1.1278, once again, played a big part in last week’s trading. Taking into consideration that this zone has primarily capped upside since May 2015 (see red arrows), we feel that price will eventually touch base with weekly support penciled in at 1.0796 in the near future.
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USDCHF - Closes Higher, Sets Up To Extend Recovery Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jun 27 16 02:42 GMT
USDCHF - With USDCHF closing higher on price halt the past week, further bullish offensive is expected. On the downside, support lies at the 0.9650 level. A turn below here will open the door for more weakness towards the 0.9600 level and then the 0.9550 level. Its weekly RSI is bullish and pointing higher suggesting further recovery. On the upside, resistance resides at the 0.9700 level where a break will clear the way for more strength to occur towards the 0.9750 level. Further out, resistance comes in at the 0.9800 level. All in all, USDCHF remains biased to the upside on more recovery.
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EURUSD - Remains Vulnerable But With Warning Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jun 27 16 02:41 GMT
EURUSD - With EURUSD closing strongly lower the past week, more weakness is envisaged. However, we may see it recover higher in the new week on correction. Support lies at the 1.1050 level. Further down, support comes in at the 1.1000 level where a violation will aim at the 1.0950 level. A break of here will target the 1.0900 level. Conversely, on the upside, resistance comes in at 1.1150 level with a cut through here opening the door for more upside towards the 1.1200 level. Further up, resistance lies at the 1.1350 level where a break will expose the 1.1400 level. All in all, EURUSD remains biased to the downside in the short term.
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GOLD - Bullish But Holds Below Key Overhead Resistance Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jun 27 16 02:40 GMT
GOLD - The commodity closed strongly higher the past week leaving risk higher but beware of a pullback in the new week. On the downside, support comes in at the 1,300.00 level where a break will turn attention to the 1,290.00 level. Further down, a cut through here will open the door for a move lower towards the 1,280.00 level. Below here if seen could trigger further downside pressure targeting the 1,270.00 level. Conversely, resistance resides at the 1,330.00 level where a break will aim at the 1,340.00 level. A turn above there will expose the 1,350.00 level. Further out, resistance stands at the 1,360.00 level. All in all, GOLD looks to strengthen further.
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Weekly Technical Outlook And Review Print E-mail
Weekly Forex Technicals | Written by IC Markets | Jun 20 16 07:01 GMT
As can be seen from the weekly chart this morning, the shared currency has been trading around the underside of a weekly resistance area at 1.1533-1.1278 since Mid-march. Taking into consideration that this zone has primarily capped upside since May 2015 (see red arrows), we feel that price will eventually touch base with weekly support penciled in at 1.0796 in the near future.
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USDCHF - Vulnerable, Risk Builds Up On 0.9527 Zone Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jun 20 16 01:05 GMT
USDCHF - Having the pair closed lower for a third week in a row, more decline is expected in the new week though with caution. On the downside, support lies at the 0.9550 level. A turn below here will open the door for more weakness towards the 0.9500 level and then the 0.9450 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 0.9650 level where a break will clear the way for more strength to occur towards the 0.9700 level. Further out, resistance comes in at the 0.9750 level. All in all, USDCHF remains biased to the downside on more weakness.
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EURUSD - Prints Rejection Candle, Eyes Recovery Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jun 20 16 01:04 GMT
EURUSD - With EURUSD closing higher on a rejection candle the past week, a move higher in the new week could be building up. Support lies at the 1.1200 level. Further down, support comes in at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will target the 1.1050 level. Conversely, on the upside, resistance comes in at 1.1300 level with a cut through here opening the door for more upside towards the 1.1350 level. Further up, resistance lies at the 1.1400 level where a break will expose the 1.1450 level. All in all, EURUSD remains biased to the upside in the short term on recovery.
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GOLD - Outlook Remains Higher On More Bullishness Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jun 20 16 01:04 GMT
GOLD - The commodity retains its upside pressure but with caution as it approaches its key resistance. On the downside, support comes in at the 1,290.00 level where a break will turn attention to the 1,280.00 level. Further down, a cut through here will open the door for a move lower towards the 1,270.00 level. Below here if seen could trigger further downside pressure targeting the 1,260.00 level. Conversely, resistance resides at the 1,310.00 level where a break will aim at the 1,320.00 level. A turn above there will expose the 1,330.00 level. Further out, resistance stands at the 1,340.00 level. All in all, GOLD looks to strengthen further.
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FX Analysis and Technical Outlook Print E-mail
Weekly Forex Technicals | Written by Forex.com | Jun 18 16 04:21 GMT
GBP/USD broke down a week ago below a key uptrend line that extended back to February's multi-year low of 1.3835. This past week, as the risk of a Brexit outcome continued to weigh on the pound in the run-up to the EU referendum, the currency pair followed-through on that drop to closely approach a key downside target at the 1.4000 psychological support level. Price rebounded off that support on Thursday as speculation that the Remain camp would gain more support after the tragic killing of pro-EU politician, Jo Cox. Despite this bounce, with the EU referendum less than one week away, risk of a potential Brexit should continue to place pressure on GBP/USD, possibly extending the currency pair's heavily-entrenched bearish trend.
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Weekly Technical Outlook And Review Print E-mail
Weekly Forex Technicals | Written by IC Markets | Jun 13 16 05:57 GMT
As we can all see from the weekly chart this morning, the EUR/USD remains trading from supply seen at 1.1533-1.1278. Due to this area capping upside since May 2015 (see red arrows), we feel that the shared currency will eventually touch base with support penciled in at 1.0796 in the near future.
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