Category Archives for Weekly Forex Forecast

Weekly Forex Forecast (July 16 – 20, 2018)

EURUSD daily time frame

Despite a strong stand from buyers on Friday, the EURUSD lost ground last week for the first time since the week of June 10th. Sellers were also able to close the single currency back below the pivot at 1.1720. That may not mean a whole lot, though. Since May 21st, the pair has traded above […]

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Weekly Forex Forecast (July 9 – 13, 2018)

EURUSD daily trend line

The EURUSD broke a major resistance level on Friday. The 1.1720 handle has been a key pivot for the single currency since August of last year. That said, I’m always overly cautious about Friday breaks. The lack of volume heading into the weekend doesn’t allow for the market as a whole to weigh in, which […]

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Weekly Forex Forecast (July 2 – 6, 2018)

EURUSD daily time frame

Buyers were in full force on Friday, driving the EURUSD higher by more than 100 pips. Being the last trading day in June, Friday’s price action illustrates the unwind in short positioning that had built up since the April 20th breakdown. Given Friday’s surge, it’s reasonable to expect the buying pressure to continue this week. […]

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Weekly Forex Forecast (June 25 – 29, 2018)

EURUSD daily time frame

On Friday, I pointed out a trend line on the EURUSD that extends from the 2017 low. The level connects with the April 2017 low and was responsible for the recent May 30th bounce. However, the June 14 impulsive selloff leaves me doubting whether the pair can muster enough demand to push the single currency […]

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Weekly Forex Forecast (June 18 – 22, 2018)

EURUSD key levels

The EURUSD broke some significant support levels last week. Thursday’s massive 290 pip range took out the previous ten sessions and also closed well below the 2017 trend line I’ve illustrated in previous weekly forecasts. I fired a warning shot last Monday with the post titled “EURUSD Looks Vulnerable Despite Recent Gains”. Although I couldn’t […]

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Weekly Forex Forecast (June 11 – 15, 2018)

EURUSD key horizontal levels

EURUSD bulls managed to push prices higher last week, but the conviction is lacking in my opinion. I pointed out the 1.1720 horizontal level a couple times last week. You can see how it was serving as resistance between May 31 and June 5 before the single currency closed above it on the 6th. That […]

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Weekly Forex Forecast (June 4 – 8, 2018)

EURUSD daily time frame

The EURUSD rebounded higher last week forming a quasi-bullish rejection candle on the weekly chart. It started with Wednesday’s 130 pip surge and was capped off by Friday’s end of day bounce to stay above the trend line from the 2017 low. The placement of that trend line is more subjective than most. If you […]

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Weekly Forex Forecast (May 28 – June 1, 2018)

EURUSD horizontal levels on the daily time frame

I wanted to show a “zoomed out” view of the EURUSD today to appreciate just how far sellers have taken the single currency in recent weeks. You may recall my commentary from April 20. That was the day that Euro bears began to take back control by closing the pair below the April 2017 trend […]

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Weekly Forex Forecast (May 21 – 25, 2018)

EURUSD horizontal levels on the daily time frame

The EURUSD set up nicely for us at the start of last week. On Sunday, May 13 I mentioned that the close on the 11th wasn’t decisive enough to call one way or the other. Notice how the May 11 session closed within that 1.1930/40 area. That left us waiting for the market to make […]

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Weekly Forex Forecast (May 14 – 18, 2018)

EURUSD key levels on the daily time frame

We looked at the EURUSD a couple of times last week. The first was on Monday when the pair was breaking below the 1.1930 handle, and the second was on Friday during the two-day rebound. That rebound, by the way, started from 1.1830, which was one of the levels I mentioned last Sunday. Friday’s commentary […]

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