Category Archives for Weekly Forex Forecast

Weekly Forex Forecast (October 16 – 20, 2017)

EURUSD support and resistance on the daily chart

EURUSD bulls look ready to capitulate following an impressive run so far in 2017. The 1,750 pip rally that began with the January 3 low is the longest since before the mid-2014 landslide that cost the pair 3,500 pips. We’ve been following this ascending channel (see chart below) for more than a month now. The […]

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Weekly Forex Forecast (October 9 – 13, 2017)

EURUSD range on the daily time frame

The EURUSD lost ground for the second week in a row. This was the likely scenario given the September 25th close below long-term channel support near 1.1900. Another probability that we discussed last week was that the 1.1670 area would attract bids if tested. It’s the August low and a level that served as a […]

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Weekly Forex Forecast (October 2 – 6, 2017)

EURUSD daily time frame after break of channel support

EURUSD bears finally managed a daily close (5 pm EST) below channel support last week. We have discussed the potential for a shift lower since the pair carved out the September 8th bearish pin bar from 1.2040. Monday’s close of 1.1845 broke channel support along with the 1.1875 horizontal support area. Sellers took control of […]

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Weekly Forex Forecast (September 25 – 29, 2017)

EURUSD ascending channel on the daily chart

EURUSD bulls continued their fight at 1.1875 last week. The area represents the 2010 low as well as channel support that extends from the April lows from this year. We have been discussing this ascending channel ever since the pair broke above 1.1875 on August 25th. Not far above Friday’s high, we have key resistance […]

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Weekly Forex Forecast (September 18 – 22, 2017)

EURUSD ascending channel on daily time frame

EURUSD bulls clung to the 1.1875 area once again last week. The level capped the advance in early August until buyers were able to break through on the 25th of last month. Since that time 1.1875 has attracted bids on August 31st and again on Thursday of last week. Although the uptrend is technically still […]

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Weekly Forex Forecast (September 11 – 15, 2017)

EURUSD ascending channel

EURUSD bulls retested the 2012 low at 1.2040 last week after retreating from the area in late August. The result of the previous week’s rally was similar to that of August 29th with prices falling back below the 1.2040 handle before the session close. This leaves the level intact as resistance for the new week. […]

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Weekly Forex Forecast (September 4 – 8, 2017)

EURUSD ascending channel

The EURUSD rally looks to be in trouble following Friday’s close. Buyers remain in control for now, but the weekly close below the 1.1875 handle suggests a pullback is likely over the coming sessions. The 1.1875 level is the 2010 low. It also attracted sellers in early August of this year which kept the pair […]

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Weekly Forex Forecast (August 28 – September 1, 2017)

The EURUSD made a significant move on Friday. After consolidating for three weeks, the single currency broke above the 1.1875 handle, a level that has held the pair in check since August 2nd. We’ve had our eye on this level for some time now. We also discussed the ascending channel you see below on Thursday […]

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Weekly Forex Forecast (August 21 – 25, 2017)

EURUSD daily chart

The EURUSD remained buoyant last week after testing the 1.1670 support area for the second week in a row. At the same time, buyers struggled to overcome the 1.1820 handle as we discussed in the August 14th commentary. As long as the 1.1670 support level holds on a daily closing basis (5 pm EST), the […]

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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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