This Analysis is brought to you by PROFIFOREX

Forex Analysis and News for Major Currency pairs November Week 4

This Analysis is brought to you by PROFIFOREX
Here is the market outlook for this week:

EURUSD
Price Trend: Bearish

The decline in the EURUSD still stretched across last week - it even went as far as dropping under the resistance lines located at 1.0650 and 1.0600. A strong trend has formed in the EURUSD with the solid decline of over 700 pips for almost two weeks now. For this we can see that it is very likely the EURUSD will keep falling. It could even drop as far as 1.0550, and 1.0500 even dropping down as far as 1.0450 (all these being support levels). This is very possible should the USD maintain its strength.


EURJPY
Price Trend: Bullish

Despite a brief decline we had in the EURJPY by last week Wednesday, the pair has been on the rise. This increase is supported by the pressure brought about by massive buying as well as a weakening Japanese Yen. The weakness of the yen makes it very possible for even the likes of the euro and British Pound to continue making gains against it. As such unless the Japanese yen gets stronger, it is very likely the uptrend will go on even reaching the supply zones located at 118.00 and 118.50 across the week.


GBPUSD
Price Trend: Bearish

Last week, there was very strong bearish correction in the GBPUSD. This led to us seeing signals to sell on the short term and even on the longer term too. The chance of prices pulling up is really low until price action shows a strong forming uptrend. At this point, it is safer selling this currency pair; thus should prices go up, it is only a better opportunity to quickly sell.


USDJPY
Price Trend: Bullish

The USDJPY has gone up by more than 955 pips since the low the USDJPY suffered as at November 9. As of now there is a strong Bullish Confirmation Pattern. This happens to be one of heaviest directional movement in the previous months. With this in mind, we see that the USDJPY could reach supply levels located at 111.00 and 111.50 across this week.


USDCHF
Price Trend: Bullish

There was an increase of 215 pips in the USDCHF last week. With this significant increase, the pair eventually broke past 1.0000 (which is a very crucial psychological level) even rising as far as the resistance level located at 1.0100. Thus the possibility is high that the uptrend would go on. One likely point the USDCHF may climb to is 1.0200 which is a resistance level. Should prices go higher, it is then more likely they will fall down soon. We expect the uptrend to continue so long the USD doesn't suffer any weaknesses.

 

Forex Analysis and News for Major Currency pairs December Week 1

EURUSD

Price Trend: Bearish

There was consolidation in prices all through the previous week. ing closer at the market, we see that there was strong indication that prices may again push up again across this week. We expect the euro to make gains against its major rivals this week. The only exception to this is the dollar getting stronger. This strength of the dollar is expected to run across this week. Thus the EURUSD could aim for 1.0750 and 1.0800 all which are crucial resistance lines.


EURJPY
Price Trend: Bullish


Last week, EURJPY experienced an unhindered gain in prices; with prices peaking at 121.88. This helped the EURJPY close below 121.50 which is a vital supply level. So far, there is the possibility of a confirmation pattern in the EURJPY. With this in mind, we are expecting more gains in this pair this week. Movement in the EURJPY could bring the pair to the supply zones located at 122.00, 122.50 and 123.00. Demand zones located at 120.00 and 119.50 would serve as hindrance to big pullbacks in the pair.


USDCHF

Price Trend: Bullish


There was consolidation in this USDCHF last week. We expect a strengthening US dollar across the next four days. The increase in the USDCHF could be threatened however with a strengthening CHF. For the USDCHF, there are very significant resistance levels located at 1.0150 and 1.0200, with support levels seen at 1.0050 and 1.0000.


GBPUSD


Price Trend: Bullish


There was an end to the two-week equilibrium phase last week. This was a very notable break moving up by 330 pips - cutting through 1.2700 (this is an accumulation territory) going on to close above it. This week, we are expecting gains against majors like AUD and NZD, with possible continuity in the increase against the dollar.


USDJPY

Price Trend: Bullish


Last week, the USDJPY had seen an increase of 300 pips. This wholesome increase pushed the USDJPY to test the supply level located at 114.50; the pair failed to move past this. Last week ending, the pair experienced bearish correction, yet this does not however threaten the strength of the uptrend thus we are expecting more gains in the pair across the next four days. It is then possible that the USDJPY may target the supply levels we have at 115.50 and 115.00.



Forex Analysis and News for Major Currency pairs December Week 1

EURUSD

Price Trend: Bearish

There was consolidation in prices all through the previous week. ing closer at the market, we see that there was strong indication that prices may again push up again across this week. We expect the euro to make gains against its major rivals this week. The only exception to this is the dollar getting stronger. This strength of the dollar is expected to run across this week. Thus the EURUSD could aim for 1.0750 and 1.0800 all which are crucial resistance lines.


EURJPY
Price Trend: Bullish


Last week, EURJPY experienced an unhindered gain in prices; with prices peaking at 121.88. This helped the EURJPY close below 121.50 which is a vital supply level. So far, there is the possibility of a confirmation pattern in the EURJPY. With this in mind, we are expecting more gains in this pair this week. Movement in the EURJPY could bring the pair to the supply zones located at 122.00, 122.50 and 123.00. Demand zones located at 120.00 and 119.50 would serve as hindrance to big pullbacks in the pair.


USDCHF

Price Trend: Bullish


There was consolidation in this USDCHF last week. We expect a strengthening US dollar across the next four days. The increase in the USDCHF could be threatened however with a strengthening CHF. For the USDCHF, there are very significant resistance levels located at 1.0150 and 1.0200, with support levels seen at 1.0050 and 1.0000.


GBPUSD


Price Trend: Bullish


There was an end to the two-week equilibrium phase last week. This was a very notable break moving up by 330 pips - cutting through 1.2700 (this is an accumulation territory) going on to close above it. This week, we are expecting gains against majors like AUD and NZD, with possible continuity in the increase against the dollar.


USDJPY

Price Trend: Bullish


Last week, the USDJPY had seen an increase of 300 pips. This wholesome increase pushed the USDJPY to test the supply level located at 114.50; the pair failed to move past this. Last week ending, the pair experienced bearish correction, yet this does not however threaten the strength of the uptrend thus we are expecting more gains in the pair across the next four days. It is then possible that the USDJPY may target the supply levels we have at 115.50 and 115.00.

 

Forex Analysis and News for Major Currency pairs December, Week 2 This Analysis is brought to you by PROFIFOREX Here is the market outlook for this week: EURUSD Price Trend: Bearish At the beginning of last week, there was an increase of 300 pips in the EURUSD. This increase brought the pair up hitting 1.0850 - which is a resistance line. After this, the direction turned around with a strong decline in prices. By the end of the week, the EURUSD had lost the initial gains it recorded at the beginning of the week. With the decline extending further; pushing the pair down to the support line located at 1.0550. For the next four days, the possibility is high that the pair would keep falling, with a weakening EUR and strengthening USD. EURJPY Dominant bias: Bullish At the moment, the bullish confirmation pattern in this pair is very clear. Of late, prices had gone up and down but all the same the trend is yet to change from an uptrend. Across this week, prices may reach 122.00, 122.50, even as far as 123.00 (all these being supply zones). The main factor supporting the increase in this pair is the yen that is losing strength. Unless the yen gets stronger, the euro which is actually weak will yet be recording gains against the yen; thus maintaining the uptrend. GBPUSD Price Trend: Bearish On Monday and Tuesday last week, there were gains in the GBPUSD with the pair pushing up to reach the distribution territory located at 1.2750. The pair made commendable attempts to remain above this point but eventually recorded little success; falling below it. This really affected the chances of the pair pulling up. Across the next four days, we expect the GBPUSD to suffer further decline possibly breaking through a couple of accumulation territories. The trend however for most GBP pairs this week is a downtrend. USDJPY Price Trend: Bullish There was a continuation in the consolidation in this pair from Monday to Tuesday last week. But by Thursday, we were already seeing an increase in the pair. The USDJPY so far has recorded an increase of over 1380 pips since the very distinct low the pair had dropped to 9th of last month. The trend continues to be an uptrend as such prices may reach the supply levels located at 115.50, 116.00 and 116.50 across the next four days. USDCHF Price Trend: Bullish For the first three days of last week, there was sideways movement in the USDCHF. But from Thursday, the pair started to record gains strengthening the uptrend. The push brought up prices testing 1.0200, which is a notable resistance level, only to eventually close below it. Across the next four days however, the USDCHF could push up to 1.0250 even rising farther into 1.0300 (both being resistance levels). The possibility is strong that the CHF may push up against a number of its rivals, even attempting to rise against the US dollar.

 

Forex Analysis and News for Major Currency pairs December, Week 2


This Analysis is brought to you by PROFIFOREX


Here is the market outlook for this week:

EURUSD
Price Trend: Bearish

At the beginning of last week, there was an increase of 300 pips in the EURUSD. This increase brought the pair up hitting 1.0850 - which is a resistance line. After this, the direction turned around with a strong decline in prices. By the end of the week, the EURUSD had lost the initial gains it recorded at the beginning of the week. With the decline extending further; pushing the pair down to the support line located at 1.0550. For the next four days, the possibility is high that the pair would keep falling, with a weakening EUR and strengthening USD.


EURJPY
Dominant bias: Bullish

At the moment, the bullish confirmation pattern in this pair is very clear. Of late, prices had gone up and down but all the same the trend is yet to change from an uptrend. Across this week, prices may reach 122.00, 122.50, even as far as 123.00 (all these being supply zones). The main factor supporting the increase in this pair is the yen that is losing strength. Unless the yen gets stronger, the euro which is actually weak will yet be recording gains against the yen; thus maintaining the uptrend.



GBPUSD
Price Trend: Bearish

On Monday and Tuesday last week, there were gains in the GBPUSD with the pair pushing up to reach the distribution territory located at 1.2750. The pair made commendable attempts to remain above this point but eventually recorded little success; falling below it. This really affected the chances of the pair pulling up. Across the next four days, we expect the GBPUSD to suffer further decline possibly breaking through a couple of accumulation territories. The trend however for most GBP pairs this week is a downtrend.



USDJPY
Price Trend: Bullish

There was a continuation in the consolidation in this pair from Monday to Tuesday last week. But by Thursday, we were already seeing an increase in the pair. The USDJPY so far has recorded an increase of over 1380 pips since the very distinct low the pair had dropped to 9th of last month. The trend continues to be an uptrend as such prices may reach the supply levels located at 115.50, 116.00 and 116.50 across the next four days.


USDCHF
Price Trend: Bullish

For the first three days of last week, there was sideways movement in the USDCHF. But from Thursday, the pair started to record gains strengthening the uptrend. The push brought up prices testing 1.0200, which is a notable resistance level, only to eventually close below it. Across the next four days however, the USDCHF could push up to 1.0250 even rising farther into 1.0300 (both being resistance levels). The possibility is strong that the CHF may push up against a number of its rivals, even attempting to rise against the US dollar.