EUR/USD - Weekly Report
The pair moved sharply to the upside after failing to break 1.2400, giving the pair a push to the upside and breached 1.2500 levels. Despite that the pair failed to breach 1.2585, but trading now above 1.2515 is positive and supports the upside move targeting 1.2585 and 1.2610 and 1.2680, while a break below 1.2450 threatens to fail the suggested expectations.
GBP/USD - Weekly Report
The pair retested 1.5700 - 1.5720, and since last week's closing was below them, the bearish expectations remains valid supported by the negativity of Linear Regression Indicators that supports trading within the descending channel. The awaited targets start at 1.5500 then 1.5400, while a break above the referred to resistance triggers a rally towards 1.6000 mainly.
USD/JPY - Weekly Report
The pair dropped after failing to breach 117.00 while trading now around 115.75, and trading again above 116.10 is significant to confirm extending the upside move. Trading above 115.60 is positive and support the upside move, while breaking 114.90 threatens to fail the suggested expectations.
USD/CHF - Technical Report
The pair dropped and is trading around 0.9575, while breaking 0.9540 and stability below it favors extending the downside move to target 0.9480 and 0.9440. Breaching 0.9615 activates the positive expectations again targeting 0.9685.
USD/CAD - Technical Report
The pair dropped sharply last Friday but is still limited above the key support of the minor ascending channel showing above, and above 1.1275. Therefore, the upside move could return this week, and trading above 1.1205 will be positive. Of note, breaching 1.1365 later is important to extend the upside move.
From the downside, breaking 1.1205 gets the pair into a new bearish wave especially that its trading below Linear Regression Indicators and that MACD is showing some negativity.
AUD/USD - Technical Report
The pair moved to the upside and breached 0.8770, and stabilizing above it favors extending the upside move to target 0.8815 and 0.8910, while breaking 0.8650 threatens to fail the suggested expectations.
NZD/USD - Technical Report
The pair moved to the upside lately and is trading positively now above 0.7895 as showing above. Stability above the referred to level at 61.8% correction is positive and could extend the upside move further. A bearish correction is possible in light of the negative signals showing on MACD and RSI.
We will wait for a bearish correction to buy the pair close to the referred to 61.8% correction, but stabilizing later above the psychological barrier 0.8000 will be significant to confirm extending the upside move for this week.
