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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 | Sep 26 16 07:39 GMT
Despite last week's gains, price remains hugging the underside of a major resistance area seen at 1.1533-1.1278. Although we're confident that this zone will eventually push the pair lower, it's difficult to judge when that will be as in the past we've seen price consolidate for long periods before descending lower (see blue circles). The next downside targets to have an eyeball on from here can be seen at the 1.0970 region, followed closely by a major support seen at 1.0819.
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EURUSD - Sees Price Hesitation But Vulnerable Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Sep 26 16 02:08 GMT
EURUSD - The pair saw price hesitation the past week but still faces corrective pullback risk. Support lies at the 1.1150 level. Further down, support lies at the 1.1100 level where a violation will aim at the 1.1050 level. A break of here will aim at the 1.1000 level. Conversely, on the upside, resistance comes in at 1.1250 level with a cut through here opening the door for more upside towards the 1.1300 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 upside on bear threats but faces consolidation risk.
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GOLD - Looks To Pullback On Correction Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Sep 26 16 02:06 GMT
GOLD - With the commodity still trading below its key resistance we envisage a move lower in the new week. On the downside, support comes in at the 1,330.00 level where a break will turn attention to the 1,320.00 level. Further down, a cut through here will open the door for a move lower towards the 1,310.00 level. Below here if seen could trigger further downside pressure targeting the 1,300.00 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 | Sep 19 16 07:07 GMT
From this viewpoint, we can see that last week's weekly candle turned bearish from the underside of a major resistance area coming in at 1.1533-1.1278. Erasing all of the prior week's gains, this bearish move could trigger further selling in this market this week. The next downside target to have an eye on falls in around the 1.0970 region, followed closely by a major support seen at 1.0819.
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EURUSD - Risk Remains Lower On More Weakness Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Sep 19 16 01:36 GMT
EURUSD - The pair continues to face downside pressure following its sell off the past week. Support lies at the 1.1100 level. Further down, support lies at the 1.1050 level where a violation will aim at the 1.1000 level. A break of here will aim at the 1.0950 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1200 level with a cut through here opening the door for more upside towards the 1.1250 level. Further up, resistance lies at the 1.1300 level where a break will expose the 1.1350 level. All in all, EURUSD remains biased to the downside on bear threats.
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GOLD - Maintains Downside Pressure Towards 1,302.00 Zone Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Sep 19 16 01:35 GMT
GOLD - With the commodity continuing to hold on to its downside pressure, more weakness is envisaged 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 1,320.00 level where a break will aim at the 1,330.00 level. A turn above there will expose the 1,340.00 level. Further out, resistance stands at the 1,350.00 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 FXTechstrategy | Sep 12 16 07:26 GMT
Although the EUR did see an increase in value last week, we have to take into account that price was unable to close above the prior week's high, and also rejected from the underside of a major resistance area at 1.1533-1.1278. Seeing as how this zone has managed to cap upside since May 2015, the bulls will likely have their work cut out for them should they intend on pushing this market north this week!
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GOLD - Sees Further Corrective Pullback Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Sep 12 16 02:47 GMT
GOLD - With the commodity declining on correction the past week, more weakness is envisaged in the new week. On the downside, support comes in at the 1,320.00 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 1,290.00 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 strengthen further on correction.
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EURUSD - Vulnerable To The Downside On Loss Momentum Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Sep 12 16 01:41 GMT
EURUSD - With the pair rejecting Higher prices to close lower on Friday (see daily chart), further downside pressure. Support lies at the 1.1200 level. Further down, support lies at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will aim at 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 downside on bear threats.
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Weekly Technical Outlook And Review Print E-mail
Weekly Forex Technicals | Written by IC Markets | Sep 05 16 05:19 GMT
The past week saw the EUR extended losses from the major resistance area seen at 1.1533-1.1278. Seeing as how this zone has managed to cap upside since May 2015, further selling is likely on the cards. The next downside target to have an eye on this week falls in around the 1.0970 region, followed closely by a major support seen at 1.0819.
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