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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 | Dec 05 16 08:14 GMT
After coming within an inch of tagging the top edge of a support area seen at 1.0333-1.0502 two weeks back, last week's flow extended to highs of 1.0689. Provided that the bulls continue to bid prices higher this week, the next upside target to have an eyeball on is the trendline resistance extended from the low 0.8231, followed closely by the 2016 yearly opening level at 1.0873 and resistance at 1.0819.
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EURUSD - Retains Recovery Threats With Eyes On 1.0759 Zone Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Dec 05 16 02:46 GMT
EURUSD - The pair continues to seek for recovery though closing marginally higher on Friday. On the down, support lies at the 1.0600 level where a violation will aim at the 1.0550 level. A break of here will aim at the 1.0500 level. Conversely, on the upside, resistance comes in at 1.0700 level with a cut through here opening the door for more upside towards the 1.0750 level. Further up, resistance lies at the 1.0800 level where a break will expose the 1.0850 level. Its weekly RSI is bullish and pointing higher suggesting further corrective recovery. All in all, EURUSD faces further downside pressure.
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Weekly Technical Outlook And Review Print E-mail
Weekly Forex Technicals | Written by IC Markets | Nov 28 16 04:40 GMT
Price action took on more of a subdued tone last week, consequently chalking up an indecision candle by the close. Despite this, the shared currency did, however, come within a whisker of connecting with a major support area coming in at 1.0333-1.0502. The next upside objective from this angle falls in at a trendline resistance extended from the low 0.8231, shadowed closely by resistance at 1.0819 and the 2016 yearly opening level at 1.0873.
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EURUSD - Halts Weakness, Recovery Risk Remains On The Cards Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Nov 28 16 01:51 GMT
EURUSD - The pair continues to retain its broader downside pressure but faces corrective recovery threats in the new week after halting its broader weakness the past week. On the down, support lies at the 1.0500 level where a violation will aim at the 1.0450 level. A break of here will aim at the 1.0400 level. Conversely, on the upside, resistance comes in at 1.0600 level with a cut through here opening the door for more upside towards the 1.0650 level. Further up, resistance lies at the 1.0700 level where a break will expose the 1.0750 level. All in all, EURUSD faces further downside pressure.
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Weekly Technical Outlook And Review Print E-mail
Weekly Forex Technicals | Written by IC Markets | Nov 21 16 04:41 GMT
The shared currency sustained further losses last week, consequently breaking through the yearly opening level at 1.0873, a support at 1.0819 as well as a trendline support extended from the low 0.8231. The next downside target from this point comes in at 1.0333-1.0502: a support area that stretches as far back as 1997!
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EURUSD - Sees Price Extension On Bear Pressure Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Nov 21 16 01:59 GMT
EURUSD - The pair weakened further the past week leaving risk lower in the new week. On the down, support lies at the 1.0550 level where a violation will aim at the 1.0500 level. A break of here will aim at the 1.0450 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.0650 level with a cut through here opening the door for more upside 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, EURUSD faces further downside pressure in the new week.
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GOLD - Looks To Decline Further On Bearishness Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Nov 21 16 01:59 GMT
GOLD - Having the commodity closed lower the past week, further bearishness is envisaged. On the downside, support comes in at the 1,200.00 level where a break will turn attention to the 1,190.00 level. Further down, a cut through here will open the door for a move lower towards the 1,180.00 level. Below here if seen could trigger further downside pressure targeting the 1,170.00 level. Conversely, resistance resides at the 1,220.00 level where a break will aim at the 1,230.00 level. A turn above there will expose the 1,240.00 level. Further out, resistance stands at the 1,250.00 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 | Nov 14 16 06:50 GMT
Thanks largely to the US election last week, the shared currency aggressively spiked the underside of a major resistance area coming in at 1.1533-1.1278 and finished the session marginally closing below the yearly opening level at 1.0873. The next downside target is seen close by at 1.0819: a support level that’s positioned nearby a trendline support stretched from the low 0.8231.
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USDCHF - Faces Further Upside Pressure On Price Rejection Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Nov 14 16 01:38 GMT
USDCHF - The pair faces further upside pressure after closing higher the past week. On the downside, support lies at the 0.9800 level. A turn below here will open the door for more weakness towards the 0.9750 level and then the 0.9700 level. On the upside, resistance resides at the 0.9900 level where a break will clear the way for more strength to occur towards the 0.9950 level. Further out, resistance comes in at the 1.0000 level. All in all, USDCHF remains biased to the downside on correction.
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EURUSD - Looks To Weaken Further With Eyes On 1.0800 Zone Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Nov 14 16 01:38 GMT
EURUSD - The pair retains its downside pressure as we enter a new week. This development leaves risk lower. On the down, support lies at the 1.0800 level where a violation will aim at the 1.0750 level1. A break of here will aim at the 1.0700 level. Its Daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.0900 level with a cut through here opening the door for more upside towards the 1.0950 level. Further up, resistance lies at the 1.1000 level where a break will expose the 1.1050 level. All in all, EURUSD faces further downside pressure.
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