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Category Archives for Weekly Forex Forecast

Weekly Forex Forecast (August 14 – 18, 2017)

EURUSD daily chart

Following a slight pullback into 1.1670 support, the EURUSD was back in rally mode late last week. The gains came after Wednesday’s session formed a bullish pin bar from key support. For now, the single currency appears to be delaying a larger retracement despite the slightly overextended prices. The 10 and 20 EMAs still lag […]

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Weekly Forex Forecast (August 7 – 11, 2017)

EURUSD daily chart

The EURUSD has been trending higher since the start of 2017. However, last Monday we discussed how the pair was approaching a key resistance area at 1.1875. What stood out at the time was how the single currency was trading approximately 180 pips above the 10 and 20 EMAs on the daily chart. And on […]

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Weekly Forex Forecast (July 31 – August 4, 2017)

EURUSD daily chart

EURUSD bulls look poised for further gains this week after holding above the 1.1670 handle last week. They also held prices above the 1.1610 level between Monday and Wednesday which ultimately triggered a weekly close of 1.1745. As long as the 1.1670 handle holds on a daily closing basis, the pressure will remain to the […]

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Weekly Forex Forecast (July 24 – 28, 2017)

EURUSD daily chart

The EURUSD surged higher last week breaking above the 1.1610 handle. This is the May 2016 high which resides between 1.1610 and 1.1615 depending on your broker. For the week ahead, any rotation back to the 1.1610 area will likely attract buyers. Resistance lies just above Friday’s close at 1.1710 which is the August 2015 […]

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Weekly Forex Forecast (July 17 – 21, 2017)

EURUSD range

EURUSD bulls had some difficulty last week but managed to land in positive territory. The pair is now up more than 1,100 pips for the year and doesn’t look ready to give up those gains just yet. However, buyers need to deal with the 1.1470 handle if they want to extend this rally. A close above […]

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Weekly Forex Forecast (July 10 – 14, 2017)

EURUSD confluence of resistance

EURUSD bulls once again tested the confluence of resistance last week but were unable to break through. The area lies between 1.1430 and 1.1450 and is the intersection of horizontal resistance and the trend line from the August 2015 high. Thursday’s rally triggered the second retest of this resistance area. For now, sellers are holding […]

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Weekly Forex Forecast (July 3 – 7, 2017)

EURUSD confluence of resistance

After five weeks of consolidating, the EURUSD made another push higher last week. The pair closed above the 1.1290 area on Wednesday, exposing the next area of resistance at 1.1430/50. This was something we discussed in the previous weekly forecast. I also mentioned the significance of the confluence of resistance at 1.1430/50 during Thursday’s session. […]

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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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