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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 | Aug 22 16 05:46 GMT
The recently closed weekly candle, as can be seen from the chart, punched into a major weekly resistance area given at 1.1533-1.1278. This zone has capped upside in this market since May 2015 so a bearish reaction is likely. The next downside target to have an eye on this week falls in around the 1.0970 region, followed closely by a major weekly support seen at 1.0819.
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AUDUSD - Tumbles Lower On Loss Of Upside Momentum Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Aug 22 16 01:24 GMT
AUDUSD - The pair lost upside pressure to decline strongly during Friday trading session today. This development has left risk lower in the days ahead. On the downside, support resides at the 0.7600 level where a breach will aim at the 0.7550 level. Below that level will set the stage for a run at the 0.7500 level with a cut through here targeting further downside pressure towards the 0.7450 level. On the upside, resistance lies at the 0.7700 level. A cut through here will turn attention to the 0.7750 level and then the 0.7800 level where a violation will set the stage for a retarget of the 0.7850 level. On the whole, AUDUSD remains biased to the downside on correction.
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EURUSD - Targets More Upside On Bull Pressure Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Aug 22 16 01:23 GMT
EURUSD - Having rallied on a follow through higher the past week, further bullishness is likely. Support lies at the 1.1250 level. Further down, support comes in at the 1.1200 level where a violation will aim at the 1.1200 level. A break of here will target the 1.1150 level. Conversely, on the upside, resistance comes in at 1.1400 level with a cut through here opening the door for more upside towards the 1.1450 level. Further up, resistance lies at the 1.1500 level where a break will expose the 1.1550 level. All in all, EURUSD remains biased to the upside on bull pressure.
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Weekly Technical Outlook And Review Print E-mail
Weekly Forex Technicals | Written by IC Markets | Aug 15 16 06:01 GMT
From the weekly chart, the candles show price continues to loiter just ahead of a major weekly resistance area coming in at 1.1533-1.1278. This zone has capped upside in this market since May 2015, so should price shake hands with this area this week, a downside move is expected. Daily view: Despite the weekly picture, daily price remains trading within a daily resistance area seen at 1.1224-1.1104. In the event that the bears stamp further authority on this barrier this week, the next downside target to have noted comes in around the daily support area at 1.0909-1.0982. On the flip side, a break higher could see prices extend north towards a daily supply area at 1.1446-1.1369
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EURUSD - Vulnerable Despite Higher Close Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Aug 15 16 01:41 GMT
EURUSD - Except the pair returns above the 1.1233 level. A move lower cannot be ruled out. Support lies at the 1.1100 level. Further down, support comes in at the 1.1050 level where a violation will aim at the 1.1000 level. A break of here will target the 1.0950 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 recovery.
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GOLD - Targets Further Weakness Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Aug 15 16 01:39 GMT
GOLD - Having With a the commodity continuing to hold on to its downside pressure, more weakness is likely. 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 1,1310.00 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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Weekly Technical Outlook And Review Print E-mail
Weekly Forex Technicals | Written by IC Markets | Aug 08 16 05:17 GMT
From the weekly chart, we can see that the single currency rotated to the downside last week just ahead of a major weekly resistance area drawn from 1.1533-1.1278. Providing that sellers remain in the driving seat this week, the next downside target can be seen at 1.0819 – a major weekly support level.
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Weekly Technical Outlook And Review Print E-mail
Weekly Forex Technicals | Written by IC Markets | Aug 01 16 05:02 GMT
From this viewpoint, the EUR/USD appears to be heading back up to retest the weekly resistance area chalked in at 1.1533-1.1278. This zone has certainly stood the test of time, capping upside since May 2015. Therefore, do keep a close eye on this barrier as it will likely play a significant role in this market over the next few weeks!
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EURUSD - Puts In Temporary Bottom, Bullish Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Aug 01 16 03:00 GMT
EURUSD - With the pair halting its weakness to close higher the past week, we look for more strength to build up in the days ahead. Support lies at the 1.1100 level. Further down, support comes in at the 1.1050 level where a violation will aim at the 1.1000 level. A break of here will target the 1.0950 level. Conversely, on the upside, resistance comes in at 1.1200 level with a cut through here opening the door for more upside towards the 1.1150 level. Further up, resistance lies at the 1.1200 level where a break will expose the 1.1250 level. Its weekly RSI is bullish and pointing higher suggesting further upside pressure. All in all, EURUSD remains biased to the downside in the medium term.
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GOLD - Risk Points Higher Medium Term With Eyes On 1,358.28 Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Aug 01 16 02:56 GMT
GOLD - Having the commodity closed higher the past week, more strength is envisaged. On the downside, support comes in at the 1,340.00 level where a break will turn attention to the 1,330.00 level. Further down, a cut through here will open the door for a move lower towards the 1,320.00 level. Below here if seen could trigger further downside pressure targeting the 1,1310.00 level. Conversely, resistance resides at the 1,360.00 level where a break will aim at the 1,370.00 level. A turn above there will expose the 1,380.00 level. Further out, resistance stands at the 1,390.00 level. All in all, GOLD looks to strengthen further on correction.
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