Weekly Trading Forecasts for Major Pairs (August 21 – August 25, 2017)

Here’s the market outlook for this week: Content courtesy of Tallinex Limited https://www.tallinex.com‌

EURUSD

Dominant bias: Bullish

The last 2 weeks have seen price move between the resistance line at 1.1850 and the support line at 1.1650, which has left the outlook neutral in the short term but bullish in the long term. Movement above 1.1850 will strengthen the current bias, but movement below 1.1650 will result in a bearish outlook – the latter being more likely due to expected weakness in the Euro this week.

USDCHF

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EURUSD Retains Bull Bias Despite Price Hesitation

EURUSD: The pair continues to hold on to its upside pressure though seeing price hesitation the past week. Resistance comes in at 1.1800 level with a cut through here opening the door for more upside towards the 1.1900 level. Further up, resistance lie…

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Forex Forecast for EURUSD, GBPUSD, USDJPY and USDCHF for August 21 – 25, 2017

First, a review of last week’s forecast:

– EUR/USD. Only 35% of experts expected the pair to fall. However, graphical analysis and a number of oscillators on D1 sided with them. The support at 1.1685 was named as the nearest goal: it was reached by the pair by mid Tuesday. After that, the pair made several more attempts to break through this level, and it even managed to drop 25 points. This was not a true breakthrough, however, and the pair returned to the Pivot Point of the last two weeks in the 1.1755 zone. Thus, the week’s decline was only about 70 points;

– GBP/USD. 45% of analysts voted for the fall of this pair last week. As for the medium term, 65% of them sided with the bears. The pair itself went ahead of the curve and by Tuesday evening it lost 170 points. There, the bears’ forces dried up, and it initiated a lateral movement along the 1.2875 Pivot Point, near which it completed the weekly session;

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