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Category Archives for Weekly Forex Forecast

Weekly Forex Forecast (January 21 – 25, 2019)

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EURUSD support and resistance levels

EURUSD had looked promising from a bullish standpoint. The breakout on January 7th signaled that falling wedge resistance from the April 2018 high would become support going forward. It did for a while, but buyers couldn’t keep the pair afloat last week. The close back below the wedge top just below 1.1400 signals that sellers […]

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Weekly Forex Forecast (January 14 – 18, 2019)

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EURUSD new support area

EURUSD bulls broke through a significant level last week. Monday’s 1.1474 close confirmed the break of falling wedge resistance that extends from April 2018. I discussed this pattern on Christmas Eve. Tuesday’s session was mostly consolidation. But by Wednesday the euro was carving the highest price since October of last year. That didn’t last long […]

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Weekly Forex Forecast (January 7 – 11, 2019)

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EURUSD falling wedge pattern on daily time frame

EURUSD continued its sideways movement below the 1.1450 resistance area last week. This has been the case since October 24, 2018. However, the 1.1300 area has been there to support the euro since late November of last year. In fact, the pair has carved higher lows since the 2018 low at 1.1215. I still think […]

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Weekly Forex Forecast (December 31, 2018 – January 4, 2019)

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EURUSD key support and resistance levels

The EURUSD is set to start the week in a familiar range. Since October 24th, the single currency has been capped by 1.1450 on a daily closing basis. The low for the range is 1.1215, although 1.1300 has been the primary defensive position for bulls. Last week I pointed out a possible falling wedge pattern. […]

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Weekly Forex Forecast (December 24 – 28, 2018)

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EURUSD key support and resistance levels

Last Thursday I wrote that EURUSD bulls had more work to do. The level in focus was 1.1450. It has served as a pivot of sorts since the euro closed below it on October 24th. In fact, the 1.1450 area acted as support even before that breakdown. As you can see, EURUSD did break through […]

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