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  1. #11
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    Forex Analysis and News for Major Currency pairs March 28- 31


    This Analysis is brought to you by PROFIFOREX


    Here is the market outlook for this week:


    EURUSD

    Price Trend: Bullish

    Even in face of the brief consolidation the pair experienced last week, the EURUSD impressively maintained its uptrend. The previous week, prices had gone up to 1.0800 (where there is a resistance line); and then by the end of the week there was sideways movement in the pair. The EURUSD struggled repetitively to overcome this resistance level but it didn't make it. Across the next four days however, this is possible. There is the increasing possibility of the pair falling across this week. The exception to this is the US dollar getting weaker against a strengthening euro.


    EURJPY

    Price Trend: Bearish

    The pair experienced a drop of over 175 pips the previous week. This decline in the EURJPY is over two weeks old and in this span, the EURJPY had lost more than 300 pips dropping as far as 119.50 where there is a demand zone. For now the trend is rightly bearish as we expect the pair to drop down to 118.50. But before March finishes, there is the chance of prices turning up again. This increase is generally expected in JPY pairs.


    GBPUSD

    Price Trend: Bullish

    By Friday last week, there was consolidation in the GBPUSD. This came after the pair had earlier up climbed up to 1.2500. At the moment there is a clear Bullish Confirmation Pattern in the GBPUSD, we even expect further increases this week. The chances are high that across the next three days, the pair would jump by over 145 pips. Thus the pair could move up to 1.2600 even up as far as 1.2650 which are distribution territories.


    USDJPY

    Price Trend: Bearish

    The previous week, there was a drop of over 155 pips. This amounted to 430 pips that the pair had lost so far in over two weeks. At the moment the trend is a strong downtrend and we expect the downtrend to be sustained this week.With this in mind, it is possible that the USDJPY may drop down to 111.00 (which is a demand level) and breaking past it further below. But as said the chances can not be ignored that the pair may pick up before the end of March as is expected for JPY pairs.


    USDJPY

    Price Trend: Bearish


    So long there is selling pressure on the USDCHF, the pair would fall below the support level located at 0.9900. The previous week, the pair lost 70 pips. This pair would struggle to overcome the very critical psychological level located at 1.0000. We expect the pair to drop down to 0.9850 even further down to 0.9800 all which are support levels. This is so long the downtrend remains.

  2. #12
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    Forex Analysis and News for Major Currency pairs April, Week 1


    This Analysis is brought to you by PROFIFOREX


    Here is the market outlook for this week:



    EURUSD

    Price Trend: Bearish

    The EURUSD experienced an increase the previous week, climbing up to reach 1.0900 (which is a resistance level). After this, the pair suffered a decline of over 245 pips. By the end of the week, prices finished in the region of 1.0650 where there is a support level. Thus looking into this week, it is likely prices will drop further even as far as the support line located at 1.0550. Therefore the trend for the EURSD is essentially a downtrend. This is almost the same trend for most EUR pairs. We can't however neglect that the pair could still make attempts to rise this week. But such temporary increases should be seen as better opportunities to sell.



    EURJPY

    Price Trend: Bearish

    What we saw for the EURJPY for the majority of last week was consolidation more in a downtrend. Consolidation started by the 22nd of the previous month with the consolidation ending by last week Friday. By this time, prices were declining such that they finished last week under 119.00 where there is a crucial supply zone. For this week we expect the pair to fall down to 118.50 even as low as 118.00 both of which are demand zones. For the month of April, what we have is a downtrend for most JPY pairs. Thus with a weakening euro, the EURJPY will be falling too.



    GBPUSD

    Price Trend: Bullish

    The previous week, the pair enjoyed an increase rising up to 1.2600 where there is a distribution territory. After rising to 1.2600, the GBPUSD followed this up with a decrease dropping to the accumulation territory located at 1.2400. Since then the pair has struggled without success to break past that accumulation territory, following this up with a rise towards 1.2550 where there is a distribution level. So far across the next three days, we expect that the GBPUSD climbs up to the distribution territory we have located at 1.2600 as well as another distribution territory we have at 1.2650. For this month of April, we expect heavy big moves up for this pair.




    USDJPY

    Price Trend: Bearish

    The previous week, the pair enjoyed an increase. But such increase wasn't strong enough to change the downtrend. The USDJPY thus finished last week under 112.00 after earlier on climbing to 111.50. We had anticipated such increase of almost 160 pips. For this week however prices may attempt to rise but this will not be strong enough. The fact is that the trend still remains a downtrend for the month of April.


    USDCHF

    Price Trend: Bearish

    The previous week, the USDCHF fell under 0.9850 where there is a support level. The pair followed this up with an increase before finishing for the week under the support level located at 1.0000. Should prices climb above the significant resistance level we have at 1.0050, this may change the trend from a downtrend. But for the month of April, this pair is largely connected to the EURUSD such that movement in the EURUSD will specify the price action for the USDCHF.

  3. #13
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    Forex Analysis and News for Major Currency pairs April, Week 2


    This Analysis is brought to you by PROFIFOREX


    Here is the market outlook for this week:


    EURUSD

    Price Trend: Bearish

    This previous week, there was sideways movement in the EURUSD through out the week. By the end of the week, the pair finished under the resistance level located at 1.0600 only managing to stay above the support line located at 1.0550. For this week, it looks likely the EURUSD will continue sliding down although the pair will make attempts to push up. This may end up being for a short time and a better opportunity to sell. For now there is a Bearish Confirmation Pattern. Considering this, it is very possible the pair could fall down across the next four days touching 1.0500 even falling down to 1.0450.



    EURJPY
    Price Trend: Bearish


    Across last week, the EURJPY lost over 100 pips attempting to break below 117.50 where there is a demand zone. This amounts to more than 480 pips the pair has lost in a month. Now for this week, there is a very significant demand zone at 117.00. Should prices fall below that demand zone, it becomes very possible that the decline would spill dropping down to 117.00, even as far down as 116.00 all which are demand zones.



    USDCHF

    Price Trend: Bullish

    At the beginning of last week, there was a consolidation in the USDCHF as the pair had recorded an increase of over 75 pips. For almost two weeks now, prices have gone up far by over 250 pips. The trend for this week is an uptrend, thus we expect that prices may rise as far as the resistance level located at 1.0100. It is even possible for the pair to rise as far as 1.0150. This rise should continue unless the EURUSD gains strength reasonably.


    GBPUSD
    Price Trend: Neutral


    Price movement last week resulted in a neutral trend. Thus there will be no stop this week to the equilibrium phase forming in the GBPUSD so long prices stay between 1.2600 and 1.2300 which is a distribution and accumulation territory respectively. It is however more likely prices may rise up as the trend for most GBPUSD pairs is generally an uptrend.




    USDJPY
    Price Trend: Bearish

    The previous week, the USDPY experienced a consolidation between the supply level located at 111.50 and the demand level at 110.00. For the month of April, JPY pairs have a downtrend, thus it is possible for the USDJPY to slide down further should the pair break past the crucial demand level located at 111.00.

  4. #14
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    Weekly Forex Analysis for Major Currency pairs

    (April 17 to 21)


    EURUSD
    Bearish
    Last week, the EURUSD saw slight rally on Wednesday. This week Monday it rallied during the day as Easter celebrations took place in Europe. We would want to keep watch for a bearish outlook and as the resistant line of 1.0800 is not crossed yet until it does, any rallies should be taken as a good "sell" sign.

    USDCHF
    Bullish
    This week, the USDCHF price remained above 1.0000 support level and continues its bullish trend. Movement from the EURUSD could play a role here, deciding whether the resistant level of 1.0100 and 1.1050 will be breached this week. There is a huge possibility that resistant lines will be crossed.


    GBPUSD
    Bullish
    The GBPUSD relied above 1.2550 levels beginning this week Monday and makes it possible for the price to recover on Intra-day on a short term basis. In order to determine the next trend of this pair, the 1.2580 resistance and 1.2550 support has to be breached first. Expected Trend for this week remains Bullish.


    USDJPY
    Bearish
    The USDJPY formed a perfect bearish confirmation pattern last week. Beginning this week, it provided a slight bullish bias support channel. The market keeps looking forward to a bearish trend on this pair in the upcoming sessions. It looks likely to break the 108.00 level and validates the bearish wave extension to 106.63.


    EURJPY
    Bearish
    After failing to breach the 114.85 level last week, the EURJPY is forced to provide an Intra-day positive rebound at 116.0. Its bearish trend is expected to continue. If the resistance level of 117.10 is breached we could see a new negative target beginning at 113.80 to 112.30 in the nearest future.

  5. #15
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    Here is this week's Market outlook for three Major Currency Pairs


    GBPUSD
    Bullish
    Last week, the GPDUSD peaked by 370 pips and traded at 1.2908. This morning, it went beyond last week’s high and touched a high of 1.2910. This shows that there is still a chance it will push higher towards 1.2950. In the meantime, it is too early to expect long term stability at this level. Price has moved unpredictably - likely a pause in an uptrend. So, the price target may continue to revolve around 1.2850, 1.2900 and 1.2950 this week.

    EURUSD
    Bearish
    The resistance line at 1.0750 was breached last week, then it retraced. No doubt the French Election is driving the market sentiment at the moment and the recently concluded vote on Sunday drove pairs like EURUSD to a certain level. Today the EURUSD is gaining at 1.32% at 1.0870. A breach of 1.0838 may result to April 24 Low at 1.0821. But the outlook holds until the resistance line at 1.0800 is breached, likely to take place this week.

    USDCAD
    Bearish
    The pair has now dropped to a Fresh Low of 1.3430 as there is a fresh pressure from the activities of traders selling the green back. The French presidential election seems to have created a new atmosphere over the Donald Trump’s plans to cut down the U.S. massive tax on business bodies. USDCAD is likely to find a new support level at 1.3380, and if breached could slide toward 1.3330 region.

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  6. #16
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    Weekly Forex Analysis for Major Currency pairs
    (May 1st to 5th). Profiforex.com



    GBPUSD

    We saw the GBPUSD rise 570pips from April 10 and speculators believe it may continue in that direction given the strong bullish confirmation pattern for May. The May1 holiday has not helped us see clearly to confirm this theory. It is currently trading at 1.2911 having posted a daily low at 1.2901 and high at 1.2948. The April PMIs and none farm payroll will be released this week, which is a key factor for the dollar. Analysts predict that the GBP will gain more grounds and we could see a firmer resistance at around 1.3050.

    Key Levels: R1- 1.2946, R2-1.2968, R3- 1.2968. S1-1.2924, S2-1.2914, S3-1.2902


    EURUSD

    The pair opened last week with a driving force and rose beyond expectations. It met its resistance level at 1.0950 at the end of last week. The EURUSD remain strong on its resolve to advance higher, but it is stuck in a tight technical consolidation range at the moment. Analysts see this pairs position as Neutral and bullish. The market looks vulnerable as the pair has failed to rise above the mid 1.09 level. So, we are looking at a support line of 1.0900 and 1.0850, which might be tested this week.

    Key Levels: R1- 1.0904, R2-1.0924, R3- 1.0936. S1-1.0896, S2-1.0884, S3-1.0876



    EURGBP

    Having posted a daily low at 0.8451 and high at 0.8451, the pair is presently trading at 0.8445, a 0.36 percent rise. The EURGBP is being driven by Political forces at the moment. An example was the resent meeting held by PM May and Juncker over Brexit Talk. The Prime minister hosted the President of the EU at Downing Street last week Wednesday on Brexit negotiations between EU and UK.

    Meanwhile the EUR was boosted by the outcome of the first round of the French elections. Analysts think that the EURGBP outlook is neutral to positive while above 0.8300. If the pair slips through 0.8252 the July 2016 low would be in focus. If the Pair rises above 0.8611 resistant lines, it would be a whole new direction for the EURGBP.

    Key Levels: R1- 0.8443, R2-0.8453, R3- 0.8465. S1-0.8421, S2-0.8409, S3-0.8399

  7. #17
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    Weekly Forex Analysis for Major Currency pairs
    (May 7th to 13th). Profiforex.com


    NZDUSD
    For the second consecutive session the NZDUSD has gained his strength and is trading on a positive note after dropping to sub level 0.6900. Trade balance data on the Chinese headline helped boost the NZD and pull it off the session lows.
    The week, investors would want to be cautious as there is the RBNZ monetary decision which might hinder a higher trading price for the NZDUSD. If the Pair trades below 0.6900, there could be a fresh 1 year low at 0.6840.

    Key Levels: R1-0.6907, R2-0.6916, R3-0.6921, S1-0.6893, S2-0.6888, S3-0.6879.

    EURUSD
    The Pair started this week with an upward extension, but dropped to a fresh session low around the 1.0900 level. There were two factors responsible for the retracement. One is investors taking profit off the trade and two is the growing prospect of a possible Fed rate hike June this year. There is now a 85% chance that this would actually occur. This week, there could be a stronger Dollar and EURUSD could drop lower.
    The immediate support level for EURUSD is at 1.0930 regions and if breached could pull the pair down to 1.0885-80 regions this week.

    Key levels: R1-1.1007, R2-1.1046, R3-1.1068. S1-1.0946, S2-1.0924, S3-1.0885

    GBPUSD
    The pair is currently trading at 1.29070-80 levels after trading at a low level in the previous week. Despite the strength of the dollar and some positive sentiment surrounding it, the GBPUSD managed to climb back to over 7 month high in the wake of France’s Presidential election.
    Meanwhile, the release of LMCI data from the US and Fed speech would be a big factor for the GBPUSD. Since the market is bullish at this time, a breach of 1.3000 would see the pair reach 1.350 and 1.3100.

    Key levels: R1-1.2984, R2-1.3002, R3-1.3014. S1-1.2954, S2-1.2942, S3-1.2924

    EURJPY
    The Pair has now being forced to retrace from daily tops around 124.00. After trading at a very high level, the Yen is now having a good momentum which saw the EURJPY retreat to the 123.30 region. The EUR is currently suffering from a profit Pull by investors after the Victory of Emmanuel Macron in the recently concluded French Presidential election. The Cross Pair is pulling back 0.48% to an immediate support level at 122.87.

    Key Levels: R1-124.26, R2-124.89, R3-125.26. S1 123.26, S2-122.90, S3-122.27

  8. #18
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    Weekly Forex Analysis for Major Currency pairs
    (May 14th to 19th). Profiforex.com

    GBPUSD
    The previous week there was a consolidation in the GBPUSD testing 1.2850 where there is an accumulation territory. The consolidation didn’t however change the trend from being a downtrend, although further consolidation would return the trend to being neutral. This week, there is a high possibility of pullbacks occurring especially when the pair breaks past 1.2850. For this new week, the major happenings that would affect the pair could be Consumer Price Index and the Average Earnings Index.

    Key levels: R1- 1.2908, R2- 1.2933, R3- 1.2966. S1- 1.2850, S2- 1.2817, S3- 1.2792

    EURUSD
    The previous week, the EURUSD briefly fell below the support line at 1.0850. Most of the movement in the pair was a reaction to the election victory of Macron in France. But by the end of the week, the pair closed above 1.0900 which is another support line. For this new week, should prices of this currency pair move below the significant resistance level we have at 1.1000, this would make the uptrend stronger. On the other hand, if the pair falls under the support line we have at 1.0700, the uptrend will be severely threatened. Across the next four days, significant economic happenings that may shape price movement of the EURUSD would be inflation and GDP data.

    Key levels: R1- 1.0957, R2- 1.0985, R3- 1.1036. S1- 1.0878, S2- 1.0827, S3- 1.0799


    USDCHF
    Last week, the pair climbed up reasonably pushing up by over 220 pips such that it briefly went above the resistance level located at 1.0100. For this week, the trend is neutral most especially for the pullback that occurred on Friday. For the trend to be a clear one either up and down, the pair needs to make a long protracted move. Retail sales data from the US would play an important role in the movement of the pair this week.

    Key levels: R1- 1.0066, R2- 1.0125, R3- 1.0165. S1- 0.9967, S2- 0.9927, S3- 0.9868


    USDJPY
    Last week, prices had crept up breaking past 114.00 where there is a demand level followed by a correction of 80 pips by the end of the week. For now the trend is still an uptrend so long prices don’t fall below 112.00 where there is a demand level. This week, prices may push as far as 114.50. Also this week, USDJPY would be affected by data released on Treasury yields and U.S stock indices.

    Key levels: R1- 113.78, R2- 114.24, R3- 114.53. S1- 113.03, S2- 112.74, S3- 112.28

  9. #19
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    Weekly Forex Analysis For Major Currency Pairs
    (June 4 - 11)
    Profiforex.com


    EURUSD
    For the first two days of the previous week, there was sideways movement in the EURUSD pair. By the end of the week however the consolidation has ended with the pair pushing up past the resistance level located at 1.1250 aiming for 1.1300 resistance level. The trend for this weekend is an uptrend and it is possible prices may break past 1.1300. One event that will actively determine price movement in the EURUSD is the press conference of ECB president Mario Draghi. Traders will be looking at this to know if the ECB would soon end the quantitative easing program given the improved EU economy and increased inflation.

    Key Levels: R1- 1.1340, R2-1.1399, R3- 1.1515. S1-1.1165, S2-1.1049, S3-1.0990


    GBPUSD
    The trend for the GBPUSD on the long term is an uptrend. Last week the pound was pressured by polls revealing that Theresa May is no longer the favorite to win the UK polls. On the short term, the trend is however neutral. For a trend to form this week the GBPUSD must pull past the accumulation territory located at 1.2700 or it pulls past the distribution territory located at 1.3050. For this week however, prices will be majorly affected by the UK elections. If Theresa’s party wins as many seats in the parliament, the GBPUSD would record massive gains, but if the Labor party wins, the pair may suffer a down slide.


    USDJPY
    There was sideways movement in the USDJPY the previous week. However by the end of the week, price chart showed a downward movement. With the previous week ending in a decline and the trend being a downtrend, prices may keep falling down this week breaching the support levels located at 109.50 even as far down to the level located at 109.00. There is no significant economic event for the pair this week except US JOLTS Job Openings data coming out on Tuesday. This will give us a hint at how soon the next interest rates hike would come from the US Fed.

    Key Levels: R1- 111.31, R2-112.19, R3- 1.1515. S1-109.93, S2-109.43, S3-108.55

  10. #20
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    Forex Analysis For Major Currency Pairs
    (June 11 - 16)
    Profiforex.com


    EURUSD
    The trend for this week is neutral. This is considering the sideways movement in the pair last week, consolidating between 1.1200 and 1.1300, both of which are resistance lines. By the end of the week, the EURUSD finished below the resistance line at 1.1200. It is possible prices may fall down this week dropping down to the support lines located at 1.1150 and 1.1100. One major event which could affect prices this week is the US Fed decision which will be released on Wednesday. Traders are expecting the Fed to announce new changes to the interest rate despite the slow US economy.
    Key Levels: R1- 1.1264, R2-1.1333, R3- 1.1382. S1-1.1146, S2-1.1097, S3-1.1028

    USDJPY
    The pair dropped down for the first two days, managing to rise up by the end of the week. For this week the pair is expected to fall. It is possible for the pair to fall down this week to the demand level located at 109.50 even as far as down as 108.50 where there is another demand level. This week the pair would be very dependent on the political happenings in the U.S. The Comey testimony humiliated the Trump administration with the former FBI director calling Trump a liar. More scandals from the US would make traders lose appetite in the dollar rushing to the Japanese yen.
    Key Levels: R1- 111.05, R2-111.78, R3- 112.75. S1-109.35, S2-108.38, S3-107.65



    GBPUSD
    The previous week, GBP pairs experienced significant pullbacks. Following the drop of 200 pips which the GBPUSD faced, a bearish confirmation pattern has formed in the pair. Investors expect the pair to fall further this week. Traders will be looking at the Retail sales data which would be released from England. This would give traders an idea of consumer spending. Consumer spending confidence has been one of the major pillars sustaining the sterling since the shock vote by Britain to leave the EU. A lower reading could send fear across traders leading to a decline of the sterling. This loss for the Sterling would be compounded further by the inconclusive results of the UK election.
    Key Levels: R1- 1.2933, R2-1.3126, R3- 1.3276. S1-1.2590, S2-1.2440, S3-1.2247

    USDCHF
    Price last week stayed in the region bounded by the support level at 0.9600 and the resistance level located at 0.9700. By the end of the week, the USDCHF dropped down below 0.9700. Most major USD pairs are on a downtrend this week and would need a major pullback to revert the trend. One major event that would affect the pair is interest rates announcement that would be coming from the Swiss National Bank on Thursday. Although it is generally expected that the Swiss National Bank would maintain its negative deposit rate of -0.75%, any changes from the bank, will greatly affect the USDCHF.
    Key Levels: R1- 0.9742, R2-0.9791, R3- 0.9856. S1-0.9628, S2-0.9563, S3-0.951

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