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Category Archives: Forex Weekly Analysis

Forex Weekly Analysis. Posts in this category focus on Forex research and analysis; looking for an indication of where the currency markets could be heading during the week. There is a specific focus on Forex technical analysis, COT report data and market sentiment.

GBPUSD Trend Line + Fib Confluence Provides Near Term Support

GBPUSD Trend Line + Fib Confluence Provides Near Term Support

GBPUSD Trend Line + Fib Confluence Provides Near Term Support Our update earlier today highlighted the trend line as can be seen on the GBPUSD hourly chart below.  Price has subsequently found support at this level. The trend line touch was also a move into the 23.6% Fibonacci level.  The technical confluence area proved to beContinue Reading

Dollar Index Technical Update – July 23rd – DXY Analysis

Dollar Index Technical Update – July 23rd – DXY Analysis

Dollar Index Technical Update – July 23rd – DXY Analysis The US dollar had reached a three-year high versus a basket of currencies on the 10/7/13 key reversal day and was trading just under the 0.764 Fibonacci level but the subsequent price action has seen a major turn in sentiment towards the greenback. The dollar continues to push slowly under the weekly timeframe bearishContinue Reading

GBPUSD Update – 23rd July – Cable At Key Fib After Break Above Resistance

GBPUSD Update – 23rd July – Cable At Key Fib After Break Above Resistance

GBPUSD Update – 23rd July – Cable At Key Fib After Break Above Resistance The (fig 1) daily timeframe GBPUSD chart shows that cable is trading just under the 61.8% Fibonacci retrace level.  This comes after the strong recent upside price action culminated in a break above the 1.5260 – 1.5300 area PPZ (price pivot zone) yesterday.Continue Reading

EURUSD Technical Analysis – July 23rd – Euro/Dollar Update

EURUSD Technical Analysis – July 23rd – Euro/Dollar Update

EURUSD Technical Analysis – July 23rd – Euro/Dollar Update EUR/USD experienced a break above the 1.3200 area range resistance on Monday, but has ultimately finished the 22nd July trading session with a close back in the range. Price has however closed marginally above the  1.3177 (61.8% Fib) area after earlier hitting a fresh weekly high at 1.3218. A sustained range breakout isContinue Reading

USDJPY Analysis – July 22nd – Dollar Yen Technical Update

USDJPY Analysis – July 22nd – Dollar Yen Technical Update

USDJPY Analysis – July 22nd – Dollar Yen Technical Update The USDJPY triangle pattern breakout we were monitoring last week ultimately found resistance at the 0.764 Fib retrace area.  This was aligned with prior H1 support as per the fig 1 (4 hour) chart.  Our analysis noted that this price action formation had formed as the dollar/yen pair oscillatedContinue Reading

EURUSD Technical Analysis – Week Of July 22nd – Chart Update

EURUSD Technical Analysis – Week Of July 22nd – Chart Update

EURUSD Technical Analysis – Week Of July 22nd – Chart Update EUR/USD has seen rangebound price action this past week within the 1.3000 – 1.3200 range, as can be seen on the H4 analysis charts below.  Euro/dollar has now printed an inside week candle formation following the engulfing candle last week. 1.3000 is a key round number area that hasContinue Reading

Dollar Index Technical Analysis – Week Of July 22nd – DXY Update

Dollar Index Technical Analysis – Week Of July 22nd – DXY Update

Dollar Index Technical Analysis – Week Of July 22nd – DXY Update The dollar continues to trade just under the weekly timeframe bearish engulfing candle, as highlighted in last weeks DXY technical update.  The US dollar had reached a three-year high versus a basket of currencies prior to the key reversal day and was trading just under the 0.764 Fibonacci level.Continue Reading