Category Archives for Weekly Forex Forecast

Weekly Forex Forecast (December 18 – 22, 2017)

EURUSD support and resistance on daily chart

The EURUSD remained range bound last week between 1.1730 support and 1.1860/70 resistance. In fact, the single currency has been stuck in a 500 pip range since closing above 1.1550 on July 20. For the week ahead, not much has changed since the last weekly commentary. As long as the 1.1730 area holds as support […]

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Weekly Forex Forecast (December 11 – 15, 2017)

EURUSD key support and resistance on daily chart

The EURUSD dropped nearly 150 pips last week after breaking below trend line support from the November low. I mentioned this trade idea on Tuesday of last week as the pair was making its way lower. However, Friday’s long lower wick hints at a turn higher this week. The single currency caught a bid at […]

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Weekly Forex Forecast (December 4 – 8, 2017)

EURUSD key levels on the daily time frame

The EURUSD gave up ground last week after closing above the 1.1875 handle on November 24. The area has lost some of its appeal for my part given the way price action has ‘chopped’ back and forth for several days. However, despite the indecision shown by market participants, the Euro did manage a close above […]

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Weekly Forex Forecast (November 27 – December 1, 2017)

EURUSD bullish break on the daily chart

EURUSD bulls cracked another significant resistance level last week at 1.1875. It’s the starting point of last month’s move lower that took the single currency below 1.1670. Last week’s break comes just days after buyers closed the pair above the trend line from the current 2017 high. As you can see from the chart below, […]

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Weekly Forex Forecast (November 20 – 24, 2017)

EURUSD support and resistance on daily chart

Despite boasting some of the best technical levels, the EURUSD was a tough one to trade last week. The October 26 close below the 1.1670 handle was a significant development. Not only did it break the key support level, but it also confirmed what appeared to be a head and shoulders reversal. However, Euro bulls […]

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Weekly Forex Forecast (November 13 – 17, 2017)

Range on the EURUSD daily chart

The EURUSD finished last week just below a ‘make or break’ resistance level at 1.1670. It’s an area that served as resistance between the 21st and 25th of July and immediately transitioned to support following the July 26 breakout. It’s also the neckline of what is believed to be a head and shoulders reversal. Sellers […]

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Weekly Forex Forecast (November 6 – 10, 2017)

EURUSD range on the daily time frame

Following a five-day consolidation period, the EURUSD faltered on Friday dropping 86 pips from the session high. It marked the second day in a row that buyers had breached 1.1670 intraday yet failed to close prices above the level into the 5 pm EST close. I mentioned the 1.1670 resistance area on Tuesday as the […]

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Weekly Forex Forecast (October 30 – November 3, 2017)

EURUSD head and shoulders bearish reversal

The EURUSD ended last week at three-month lows after confirming a multi-month head and shoulders pattern. We discussed the bearish reversal pattern on Friday as one to watch for the week ahead. I was a bit surprised to see how quickly prices sliced through 1.1670 support last week. I expected Thursday’s session to end above […]

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Weekly Forex Forecast (October 23 – 27, 2017)

EURUSD new range on the daily chart

There’s no shortage of recent EURUSD commentary on this site. Just last Friday we discussed the importance of the 1.1875 resistance level. We also reviewed what could be a three-month head and shoulders pattern forming on the daily time frame. If you missed these recent posts, I suggest you review the commentary from the 3rd […]

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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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