Forex Analysis and News for Major Currency pairs

#1
Forex Analysis and News for Major Currency pairs December, Week 2


This Analysis is brought to you by PROFIFOREX


Here is the market outlook for this week:

EURUSD
Price Trend: Bearish

At the beginning of last week, there was an increase of 300 pips in the EURUSD. This increase brought the pair up hitting 1.0850 - which is a resistance line. After this, the direction turned around with a strong decline in prices. By the end of the week, the EURUSD had lost the initial gains it recorded at the beginning of the week. With the decline extending further; pushing the pair down to the support line located at 1.0550. For the next four days, the possibility is high that the pair would keep falling, with a weakening EUR and strengthening USD.


EURJPY
Dominant bias: Bullish

At the moment, the bullish confirmation pattern in this pair is very clear. Of late, prices had gone up and down but all the same the trend is yet to change from an uptrend. Across this week, prices may reach 122.00, 122.50, even as far as 123.00 (all these being supply zones). The main factor supporting the increase in this pair is the yen that is losing strength. Unless the yen gets stronger, the euro which is actually weak will yet be recording gains against the yen; thus maintaining the uptrend.



GBPUSD
Price Trend: Bearish

On Monday and Tuesday last week, there were gains in the GBPUSD with the pair pushing up to reach the distribution territory located at 1.2750. The pair made commendable attempts to remain above this point but eventually recorded little success; falling below it. This really affected the chances of the pair pulling up. Across the next four days, we expect the GBPUSD to suffer further decline possibly breaking through a couple of accumulation territories. The trend however for most GBP pairs this week is a downtrend.



USDJPY
Price Trend: Bullish

There was a continuation in the consolidation in this pair from Monday to Tuesday last week. But by Thursday, we were already seeing an increase in the pair. The USDJPY so far has recorded an increase of over 1380 pips since the very distinct low the pair had dropped to 9th of last month. The trend continues to be an uptrend as such prices may reach the supply levels located at 115.50, 116.00 and 116.50 across the next four days.


USDCHF
Price Trend: Bullish

For the first three days of last week, there was sideways movement in the USDCHF. But from Thursday, the pair started to record gains strengthening the uptrend. The push brought up prices testing 1.0200, which is a notable resistance level, only to eventually close below it. Across the next four days however, the USDCHF could push up to 1.0250 even rising farther into 1.0300 (both being resistance levels). The possibility is strong that the CHF may push up against a number of its rivals, even attempting to rise against the US dollar.
 
#2
Forex Analysis and News for Major Currency pairs December, Week 3

This Analysis is brought to you by PROFIFOREX


Here’s the market outlook for this week:

EURUSD

Price Trend: Bearish

There was sideways movement in the EURUSD across the first three days of last week. But then in line with expectations, the EURUSD suffered a decline. Prices briefly dropped below 1.0400 (which is a support level). Across the next few days, it is likely prices may continue to fall with the trend being a downtrend. Thus it is possible for prices to fall to 1.0400, 1.0350 even as far as 1.0300. This pointed to the increasing chances of the USD hitting parity with the EUR.


USDJPY

Price Trend: Bullish

According to prediction last week, there was an increase in the USDJPY with the pair pulling above 300 pips after there has been sideways movement in the USDJPY for the first two days of last week. So far in course of the last five weeks, the USDJPY has added over 1650 pips. With the trend being bullish, the increase should stretch on. There is also the possibility of prices getting to 118.50 and 119.00 (both of which are supply levels). Thus we are expecting that any push or fall in JPY should be more connected with how strong the individual currencies in the pair are; not really how strong the yen is. Thus it becomes likely that while some JPY pairs would be rising across the next few days, others may be falling.




GBPUSD

Price Trend: Bearish

Following the consolidation of prices across the first two days of last week, a drop occurred the next day in line with our expectations. There have been several tests of the accumulation territory we have at 1.2400, but so far further decline has been reasonably opposed. With the trend being a downtrend for a number of GPB pairs, a breakdown is possible this week which could run into a minimum of 300 pips by the start of next year.




EURJPY
Dominant bias: Bullish

We expect heavy movement in JPY pairs across this week. Even in face of the trend being an uptrend for the EURJPY, it is possible for the continued weakness of the EUR to hamper this, thus cutting down the chances of the EURJPY picking up further gains. But then should prices stay above 121.00 (which is a demand zone) then we expect the trend to continue being an uptrend.



USDCHF

Price Trend: Bullish


In resemblance with the EURUSD, there was a bearish retracement in the USDCHF across the first three days of last week. But after this, the pair pushed up rising above 1.0300 (which is one important resistance level) only to finish below it. We are expecting the USDCHF to move up although it could face challenges in course of this. It is thus likely that the USDCHF may pull up to 1.0300 even as far as 1.0400 across the next few days.
 
#3
Forex Analysis and News for Major Currency pairs January, Week 2

This Analysis is brought to you by PROFIFOREX

Here is the market outlook for this week:

EURUSD
Price Trend: Neutral

For a long time now spanning into weeks, there has not really been a distinct trend, so it is safe to say the trend has been neutral. This way should prices manage to pull 200 pips up, it would become an uptrend. Also should prices fall below 1.0300 (a crucial support line), the trend could become a downtrend. As long as prices are in the region between 1.0300 and 0.0700, the trend will remain neutral.

GBPUSD
Price Trend: Bearish

By last week ending, a powerful pull back has disrupted the push up of the GBPUSD. Although for now, the bias is still a downtrend. With this in mind, any attempt by the pair to pull up may turn out brief so you should not just jump at rising prices. For an uptrend to be established proper, prices need to break past the distribution territory at 1.3000. And for this to happen, the pair must experience a strong pull up in the GBPUSD.


USDJPY
Price Trend: Neutral

The trend for this week even extending into next week is still neutral, the sideways movement in the pair would stop should there be a strong move in the pair either up or down. For a trend to be formed proper, it would be necessary for the pair to move above 118.00 where we have a significant supply level; or prices would have to push below 115.00 which is a demand level. Although prices look most likely to fall this week.

EURJPY
Price Trend: Neutral

There has been no distinct trend in the pair, even in face of the consolidation we have been seeing in the pair since the last month of last year. At present, the EURJPY is trying to push up, but the move so far has been really weak. It is likely these attempts to push up may turn out to be fakeouts if prices don't breach the supply zone located at 125.00. On the other hand, we expect the EURJPY to form a downtrend should prices fall below 120.00, a very crucial demand zone.

USDCHF
Price Trend: Bullish

The trend pushed downwards the previous week most particularly from January 3rd. Prices went on to finish below the resistance level located at 1.0200 making an impressive bounce back. The decline in the USDCHF last week challenged the existing uptrend. But for a solid bearish confirmation pattern to be formed in this pair, prices must break past the very critical psychological level located at 1.0000.
 
#4
Forex Analysis and News for Major Currency pairs January, Week 3

This Analysis is brought to you by PROFIFOREX

Here is the market outlook for this week:

EURUSD
Price Trend: Bullish

The EURUSD made reasonable gains last week. This push up in prices had brought about an uptrend. Now the fact that the pair last week closed above resistance line located at 1.0600 has established the possibility that the EURUSD could still rise as far high as 1.0650, 1.0700 even pushing as far as to 1.0750 is across the next three days. There is some level of choppiness in price movement for now which may weaken the uptrend.


EURJPY
Price Trend: Bearish

Across the last few weeks, the trend has been neutral for the EURJPY. Last week, the pair attempted to pull down heavily. When measured against the USDJPY, the push lacked considerable strength although a downtrend is already forming. But should the EURJPY eventually move above 123.00 a very significant supply level, the trend will then return to the being neutral. On the other hand should the pair pull farther below 121.00, the downtrend is then getting stronger.


GBPUSD
Price Trend: Bearish
There was sideways movement in the GBPUSD last week, although pair had made attempts to turn around in an uptrend. For this we see that the attempted push up in the GBPUSD will not really last long as such is only a better opportunity to sell. Across the next three days, the pair may reach the distribution territories seen at 1.2150, 1.2100 even another distribution territory at 1.2050.


USDJPY
Price Trend: Bearish

Lasts week, the USDJPY suffered a decline of over 340 pips. This drop established a strong Bearish Confirmation Pattern; there is a strong possibility that the decline would continue this week. We expect continuity in the decline this week, dropping as far as 114.00, 113.50 even dropping as low as 113.00, all these three points are demand levels. Although there is still the possibility that the USDJPY may make attempt to push up, the chances are low that such push would cancel the Bearish Confirmation Pattern we are having now for the pair. The most likely chance that this will happen is when the pair breaks past 118.00 which is a very crucial supply level.

USDCHF
Price Trend: Bearish

Despite the very light attempts to pull back, the trend has turned to a downtrend after the pair had fallen down as far as 200 pips all the way from 1.0247 which is the weekly high. Even in face of obvious downtrend, the pair has not broken below 1.0000, a crucial psychological level, although this might happen across the next three days. Thus it is not very advisable to buy the USDCHF at the moment.
 

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