Weekly Forex Forecast – Weekly Forex Trading Analyses
Top Forex BrokersWeekly Forex Forecast – Weekly Forex Trading Analyses
The EUR/USD pair originally had a surge upward at the start of the week to test the 1.35 level. The area has proven to be resistive again, and simply too strong for the bulls to overcome.
The Kiwi dollar had an absolutely horrible week over the previous 5 sessions, falling towards the 0.75 level. The area shows serious support potential, and looks like it will be the “line in the sand” for Kiwi bulls.
The EUR/USD is a pair that has been at the epicenter of the storm in the Forex markets as of late. Looking at the pair, you can clearly see a massive hammer that has formed on the weekly chart just above the 1.35 level.
EUR/USD While the pair has been very choppy lately, the truth is that the pair has been almost 100% news-driven over the last several months.
The focus last week for markets has been on Europe but this will change in the coming week with theFederal Reserve gearing up for one of the most important FOMC meetings in along time.
Last week, the U.S. Dollar failed at 9,535, bringing forth the possibility (again) that the larger trend remains down towards fresh lows below the 1st August low at 9,326. At Friday's close, price was testing the trendline drawn from the said low and notably, the 20 and 50 SMA’s are still lined up on the bearish side.
The U.S. Dollar closed last week lower by 0.63% as volatility in equity markets persisted with the Dow Jones Industrial average falling more than 4% by Friday. The NASDAQ suffered the steepest decline with a loss of more than 6.6% after a flurry of disappointing economic data highlighted by the multiyear low in the Philadelphia Fed survey which plummeted to -30.7 vs the expected 4.0.
Technical and fundamental analysis of EUR, USD, AUD and four other major currencies, all in one place.
The U.S. Dollar finished sharply lower on Friday against its key counterparts on government credit rating fears and lackluster interest rate prospects. Markets began pricing in the previously unthinkable - a US Treasury default - on risks that U.S. legislators may not agree to a budget deal as the government will soon run short of cash.
Technical and fundamental analyses in one place, with charts of the major currencies to give you a glimpse of what to expect in your Forex trading during the week of July 11, 2011.
With so many markets closing up last week, it looks like the tides are finally changing - or are they? Take a look at our forecasts for the majors this week to see what you can expect in your Forex trading.
Following a week of extreme market volatility, the U.S. Dollar Index closed relatively unchanged against its major counterparts, as illustrated by most liquidly-traded currency pair (EURUSD) which remains locked in an astonishingly narrow 3.3% range since mid July. Get the roundup of all major currencies here.
Technical and fundamental analysis of EUR, USD, AUD and four other major currencies, all in one place.
Take a look at technical and fundamental analyses of the major currency pairs side by side to get a look at where the market will be going in the days ahead.
Technical analysis and fundamental analysis of the major Forex currencies can help you trade smarter this week - get the scoop now!