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Category Archives for Weekly Forex Forecast

Weekly Forex Forecast (June 26 – 30, 2017)

EURUSD range

The sideways price action continued last week for the EURUSD. The pair has been limited to a 200 pip range since closing above the 1.1100 handle on May 17th. In times like this, I tend to stay on the sideline. Momentum is lacking and each passing day seems to produce a new winner between buyers […]

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Weekly Forex Forecast (June 19 – 23, 2017)

EURUSD range

The EURUSD did little last week to inspire a decision one way or the other. The pair continues to bounce between 1.1100 and the 1.1250 area with no clear indication of future direction. Technically speaking, the single currency carved a bearish engulfing pattern on the weekly chart. With that said, it wasn’t the most convincing close […]

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Weekly Forex Forecast (June 12 – 16, 2017)

After holding above the 1.1250 handle for three days, the EURUSD gave up the level on Thursday of last week. Friday’s price action didn’t do much to rechallenge the 1.1250 area, but buyers did at least step in to stop the bleeding to some degree. It’s no secret that the single currency has outperformed the greenback […]

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Weekly Forex Forecast (June 5 – 9, 2017)

The EURUSD continued its rally last week after a brief pause below the 1.1250 area. The pair carved fresh highs for the year despite still trading below the November 9th spike high from 2016. A look at the 4-hour chart shows the recent consolidation in the form of a bull flag, though it wasn’t a […]

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Weekly Forex Forecast (May 29 – June 2, 2017)

EURUSD key levels

EURUSD bulls have been on a tear following the first round of the French elections on April 23rd. It’s been one of the more impressive rallies since the start of 2015. However, buyers struggled last week to overcome the 1.1240 resistance area. In fact, the five days of price action carved a bearish rejection of […]

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Weekly Forex Forecast (May 22 – 26, 2017)

EURUSD resistance

After three weeks of consolidation, including the selloff that followed the May 7th run-off election in France, the EURUSD was unstoppable last week. The single currency gained 270 pips against the greenback, making it the largest weekly gain so far this year. The pair did print a bearish engulfing day on May 18th, but as […]

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Weekly Forex Forecast (May 15 – 19, 2017)

EURUSD resistance area

After a second consecutive gap higher last week, the EURUSD slipped back below a trend line that extends from the February 2nd high. At the moment that close back below the 1.0960 area stands as a false break following the May 7th run-off election in France. Not only did the single currency give back the […]

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Weekly Forex Forecast (May 8 – 12, 2017)

EURUSD range

The Euro ended the week at a six-month high against the greenback after Thursday’s close above the 1.0950 handle. The strength came as a result of the first round of the French elections on April 23rd. With the run-off results just in showing a Macron victory, one would think the single currency is heading even […]

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Weekly Forex Forecast (May 1 – 5, 2017)

USDJPY channel

EURUSD buyers managed to hold their ground last week after kicking things off with a 180 pip gap up. The weekend gap was the result of a Macron victory in the first round of the France elections. I normally don’t like to use so many levels of support and resistance, but as you can see […]

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Weekly Forex Forecast (April 24 – 28, 2017)

EURUSD levels

I’m going to do things a little different this time given the volatility that could result from today’s outcome of the French elections. I’m still providing the immediate support and resistance levels for the pairs below, but I’ll also discuss each from a broader perspective. I will then provide updates throughout the week once markets […]

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Weekly Forex Forecast (April 17 – 21, 2017)

EURUSD trend line

The EURUSD closed last week just 24 pips above the open. The pair continues to teeter on trend line support that extends from the current 2017 low which has quite literally kept buyers on edge. A comment from President Trump concerning the strength of the U.S. dollar spurred a 60 pip relief rally on Wednesday, […]

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Weekly Forex Forecast (April 10 – 14, 2017)

EURUSD trend line

The EURUSD spent the first half of last week consolidating above the 1.0635 handle. This wasn’t surprising given the previous week’s 260 pip bearish engulfing candle. However, just before Friday’s non-farm payroll (NFP), the single currency began to slip below 1.0635 support. It turned out to be a sign of things to come as the […]

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Weekly Forex Forecast (April 3 – 7, 2017)

EURUSD range

For the better part of March, the EURUSD looked relatively bullish, particularly the March 27th close above the 1.0825 handle. The level dates back to 1999 and was responsible for the February 2nd bearish pin bar earlier this year. Moreover, 1.0825 is the 38.2% Fibonacci retracement when measuring from the 2016 high at 1.1615 to […]

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Weekly Forex Forecast (March 27 – 31, 2017)

EURUSD key resistance

The EURUSD has enjoyed four positive weeks in a row since catching a bid at 1.0500. The pair continued its slow and steady rally last week with a Tuesday bounce from the 1.0712 support area. However, sellers have yet to achieve a daily close above the 1.0825 handle. This is a level that dates all […]

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Weekly Forex Forecast (March 20 – 24, 2017)

EURUSD confluence of resistance

The EURUSD had another relatively strong week, making it the third straight positive week since the March 3rd low at 1.0497. Buyers also managed a close above the 1.0712 handle, a level that has served as a pivot since early December of last year. But despite recent strength, Euro bulls have yet to make any […]

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