Tuesday, July 29, 2014

Weekly Forecast (FX)

for the week starting 28-July-2014

Selling pressure is high after EUR/USD break below 1.3475.

Weekly Chart

Market has break below support and Ayumi reckon selling pressure to lead EUR/USD to another low near blue line (1.3300 - 1.3350) in 2 months time (Sep-Oct 2014).

Daily Chart

bearish bearish bearish, with small Average True Range.
Immediate resistance 1.3500 - 1.3550.

Initiate Short if market failed to break and close above 1.3550.
Check 4 Hour Chart to confirm trading plan.

4 Hour Chart

4 Hour resistance at 1.3475, 25 pips higher.
Will update if any trade initiated.


Interesting Market
Long term (until October 2014) bullish, target 1.7300.

Weekly Chart

Daily Chart

Affected by strong US Dollar, GBP/USD daily chart is suggesting otherwise.
Bearish sentiment - short term sell.

Day Chart
Resistance 1: 1.7030
Support 1: 1.6920 - 1.6950
Support 2: 1.6850


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