E-mail:    

EUR/USD

fx-trader,-forex,-Currency-Analysis,-forex-trading,-Major-Technical-Report,-report,-curency,-chart,-bar-chart,-EURUSD,-GBPEUR

Shorter term EUR technicals remain favourable whilst above 1.0725 or so but prices will also need to establish themselves back beyond the psychological 1.1000 level to meaningfully extend this current recovery sequence. As/when seen an extension to 1.1150 is readable next and if 1.1300 (key) resistance gives way as well thereafter then underlying readings should also improve. In the meantime a broad range persists and any loss of secondary 1.0575 support can still deteriorate the intermediate picture here with previous 1.0340 area cyclical lows then reachable instead.

 

Primary Support

Primary Resistance

Short Term Trend

Medium Term Trend

1.0725/35

1.1000/10

Side/Higher

Side

 

GBP/USD

 

fx trader, forex, Currency Analysis, forex trading, Major Technical Report, report, curency, chart, bar chart, EURUSD, GBPUSD, GBPEUR, GBP, USD

Recent GBP strength already fulfilled a necessary retracement objective (by re-testing 1.2800) and given broader/incomplete trends this entire recovery sequence from 1.2365 is still considered corrective. Prices would need to hurdle distant 1.3500 resistance to argue an important low is already in place and otherwise an argument can be made for an interim top instead provided 1.2365 gives way next. Local support is apparent at 1.2750 but even a downside breach here will encourage a directly bearish view and meanwhile heavy resistance awaits toward and beyond 1.3000.

 

Primary Support

Primary Resistance

Short Term Trend

Medium Term Trend

1.2745/55

1.2990/00

Side/Higher

Side

Lucy Lillicrap
FX Risk Management Solutions
AFEX
To receive AFEX's weekly report, contact afexmarketsinfo@afex.com

<<Previous