My forecasts by EURUSD, GBPUSD, USDCHF, USDJPY, GOLD - page 29
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EUR/USD, forecast on Tuesday, 10/08/13
Main scenario:
The pair is trading along an sideways trend.
An uptrend will start from current price, or from support level 1.3555, which will be followed by moving up to resistance level 1.3590 and 1.3615.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1.3530, which will be followed by moving down to support level 1.3470.
S/R levels:
Resistances: 1.3575, 1.3590, 1.3615 (strong), 1.3665
Supports: 1.3555, 1.3530 (main), 1.3470 (strong)
GBP/USD, forecast on Tuesday, 10/08/13
Main scenario:
The pair is trading along an sideways trend.
An uptrend will start from current price, or support level 1.6040, which will be followed by moving up to resistance level 1.6140 and then to 1.6220.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1.6000, which will be followed by moving down to support level 1.5895.
S/R levels:
Supports: 1.6040, 1.6000 (main), 1.5895
Resistances: 1.6095, 1.6140 (strong), 1.6220, 1.6330
GOLD, forecast on Tuesday, 10/08/13
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue from current price 1325, or from support level 1317, which will be followed by reaching resistance level 1335 and then 1341.
Alternatie scenario:
An downtrend will start as soon, as the pair drops below support level 1317, which will be followed by moving down to support level 1310 and if it keeps on moving down below that level, we may expect the pair to reach support level 1300.
S/R levels:
Supports: 1317, 1310, 1300 (main)
Resistances: 1335, 1341 (strong)
EUR/USD, forecast on Thursday, 10/10/13
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.3530, which will be followed by reaching support level 1.3470 and then 1.3415.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.3530, which will be followed by moving up to resistance level 1.3575 from that we will be expect downtrend continuation.
S/R levels:
Resistances: 1.3530 (main), 1.3555 (strong), 1.3575 (strong)
Supports: 1.3490, 1.3470 (main), 1.3415
GBP/USD, forecast on Thursday, 10/10/13
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.6000, which will be followed by reaching support level 1.5800.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.6000, which will be followed by moving up to resistance level 1.6095.
S/R levels:
Supports: 1.5995, 1.5800
Resistances: 1.6000 (main), 1.6040, 1.6095 (strong), 1.6140
GOLD, forecast on Thursday, 10/10/13
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1310 - 1315, which will be followed by reaching support level 1300 and then 1287.
Alternative scenario:
An uptrend is not expecting today.
S/R levels:
Supports: 1300 (main), 1287
Resistances: 1310 (strong), 1315, 1322 (strong)
USD/JPY Forecast Oct. 21-25
USD/JPY reversed direction last week, as the Japanese yen posted modest gains. The pair closed the week at 97.69. This week’s schedule is very light, with just four releases. Here is an outlook on the major market-movers and an updated technical analysis for USD/JPY.
The US dollar was broadly weaker last week , as initial optimism over the debt deal quickly faded . The agreement reached in Congress is only for a few months, as the underlying budgetary issues are yet to be resolved.
* All times are GMT
USD/JPY Technical Analysis
USD/JPY started the week at 98.32. The pair climbed to a high of 99.00, as it broke above resistance at 98.90 (discussed last week). USD/JPY then reversed direction, climbing all the way to 98.60. USD/JPY then dropped to a low of 97.56 before closing the week at 97.69.
read more ...
GBP/USD weekly outlook: October 21 - 25
The pound ended the week sharply higher against the weaker dollar on Friday amid expectations that the Federal Reserve will delay tapering stimulus measures in the aftermath of the U.S. government shutdown.
GBP/USD ended Friday’s session at 1.6165, almost unchanged for the day after rising to session highs of 1.6224. The pair ended the week with gains of 1.22%.
Cable is likely to find support at 1.6020 and resistance at 1.6260, the high of October 1 and a nine-month high.
On Wednesday the U.S. Congress passed a bill to reopen the government and raise the debt ceiling, with just hours to spare ahead of a deadline to avert an unprecedented sovereign debt default.
The deal will fund the government until January 15 and raise the government borrowing limit until February 7. Both sides also agreed to talks over broad budget issues in an attempt to reach a longer-term deal by December 13.
As fears over a default receded investors turned their attention to the economic impact of the 16-day government shutdown. The dollar slid amid fears that the Fed would delay plans for rolling back its asset purchase program until at least the beginning of next year.
The possibility of another debt crisis also remained, as the temporary solution does not resolve the underlying budgetary issues dividing Republicans and Democrats.
Sterling was boosted after data released on Thursday showed that retail sales in the U.K. rose at a faster than expected rate in September, adding to optimism over the outlook for third quarter growth.
read more ...
EUR/USD, forecast on Wednesday, 10/23/13
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1.3730, which will be followed by reaching resistance level 1.3850.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1.3730, which will be followed by moving down to support level 1.3650.
S/R levels:
Resistances: 1.3850 (strong)
Supports: 1.3730 (main), 1.3650 (strong)
GBP/USD, forecast on Wednesday, 10/23/13
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1.6160, which will be followed by reaching resistance level 1.6330.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1.6160, which will be followed by moving down to support level 1.6040.
S/R levels:
Supports: 1.6190, 1.6160 (main), 1.6130 (strong), 1.6040
Resistances: 1.6330
GOLD, forecast on Wednesday, 10/23/13
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1330, which will be followed by reaching resistance level 1352 and then 1366.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1330, which will be followed by moving down to support level 1314.
S/R levels:
Supports: 1330 (main), 1320, 1314, 1300 (strong)
Resistances: 1341, 1352, 1366
USD/JPY weekly outlook: Oct 28 - Nov 1
The yen finished the week higher against the dollar for the second consecutive week on Friday, as soft U.S. economic data added to the view that the Federal Reserve will maintain its stimulus program into next year.
USD/JPY ended Friday’s session at 97.37, 0.12% higher for the day, after falling to 96.95 the lowest since October 9 earlier. The pair ended the week down 0.82%.
The pair is likely to find support at 96.66, the low of October 7 and resistance at 98.00.
Data on Friday showed that U.S. core durable goods orders unexpectedly fell 0.1% in September, the third consecutively decline. A separate report showed that the University of Michigan U.S. consumer sentiment index was revised lower in October.
The data cemented expectations that the U.S. central bank will maintain the current pace of its asset purchase program into early next year.
Data released earlier in the week showing that U.S. jobs growth had slowed in September, even before the start of the 16-day government shutdown, prompted investors to re-evaluate expectations over the timing of a possible reduction to the Fed’s stimulus program.
The Department of Labor said the U.S. economy added 148,000 jobs last month, well below expectations for an increase of 180,000.
Elsewhere, the yen was slightly lower against the stronger euro on Friday, with EUR/JPY edging up 0.15% to settle at 134.46. The pair ended the week with gains of 0.15%.
read more ...
USD/CHF weekly outlook: Oct 28 - Nov 1
The U.S. dollar ended the week close to 20-month lows against the traditional safe haven Swiss franc on Friday as weak U.S. economic data added to the view that the Federal Reserve will postpone plans to start reducing stimulus measures.
USD/CHF ended Friday’s session at 0.8926, almost unchanged for the day, up from lows of 0.8889 on Thursday, the lowest since November 2011. For the week, the pair dropped 1.11%.
The pair is likely to find near-term support at 0.8889, Thursday’s low and resistance at 0.9000.
Data on Friday showed that U.S. core durable goods orders unexpectedly fell 0.1% in September, the third consecutively decline. A separate report showed that the University of Michigan U.S. consumer sentiment index was revised down to a 10-month low of 73.2 from a final reading of 77.5 in September.
The data cemented expectations that the U.S. central bank will maintain the current pace of its asset purchase program into early next year.
Data released earlier in the week showing that U.S. jobs growth had slowed in September, even before the start of the 16-day government shutdown, prompted investors to re-evaluate expectations over the timing of a possible reduction to the Fed’s stimulus program.
The Department of Labor said the U.S. economy added 148,000 jobs last month, well below expectations for an increase of 180,000.
read more ...
EUR/USD, forecast on Monday, 10/28/13
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1.3770, which will be followed by reaching resistance level 1.3860 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1.3960.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1.3770, which will be followed by moving down to support level 1.3675.
S/R levels:
Resistances: 1.3860 (strong)
Supports: 1.3770 (main), 1.3675
GBP/USD, forecast on Monday, 10/28/13
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1.6135, which will be followed by reaching resistance level 1.6300.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1.6135, which will be followed by moving down to support level 1.6090.
S/R levels:
Supports: 1.6165, 1.6135 (main), 1.6090
Resistances: 1.6235, 1.6300 (strong)
GOLD, forecast on Monday, 10/28/13
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1341, which will be followed by reaching resistance leve 1366.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1341, which will be followed by moving down to support level 1330.
S/R levels:
Supports: 1341 (main), 1330 (strong), 1316
Resistances: 1352, 1366
EUR/USD, forecast on Thursday, 10/31/13
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.3735, which will be followed by reaching support level 1.3650 and if it keeps on moving down below that level, we may expect the pair to reach support level 1.3570.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.3735, which will be followed by moving up to resistance level 1.3800.
S/R levels:
Resistances: 1.3735 (main), 1.3800
Supports: 1.3685, 1.3650 (main), 1.3570 (strong)
GBP/USD, forecast on Thursday, 10/31/13
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.6070, which will be followed by reaching support level 1.5945.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.6070, which will be followed by moving up to resistance level 1.6135 and 1.6235.
S/R levels:
Supports: 1.6000, 1.5945 (main)
Resistances: 1.6070 (main), 1.6135 (strong), 1.6235
GOLD, forecast on Thursday, 10/31/13
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue in case the market drops below support level 1325, which will be followed by reaching support level 1316.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1335, which will be followed by moving up to resistance level 1340 and then to 1353.
S/R levels:
Supports: 1330 (strong), 1325 (main), 1316
Resistances: 1335 (main), 1340, 1353 (strong)
EUR/USD, forecast on Tuesday, 11/05/13
Main scenario:
The pair is trading along an downtrend.
An uptrend started from support level 1.3480, which will be followed by moving up to resistance level 1.3575.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1.3440, which will be followed by moving down to support level 1.3380.
S/R levels:
Resistances: 1.3520, 1.3575 (strong)
Supports: 1.3480, 1.3440 (main), 1.3380
GBP/USD, forecast on Tuesday, 11/05/13
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1.6000, which will be followed by reaching resistance level 1.6170.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1.6000, which will be followed by moving down to support level 1.5945 - 1.5920.
S/R levels:
Supports: 1.6000 (main), 1.5945/20 (strong)
Resistances: 1.6170 (strong)
GOLD, forecast on Tuesday, 11/05/13
Main scenario:
The pair is trading along an sideways trend.
An downtrend will start as soon, as the pair drops below support level 1309, which will be followed by moving down to support level 1297 and then to 1287.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1318, which will be followed by moving up to resistance level 1330.
S/R levels:
Supports: 1309 (main), 1297, 1287
Resistances: 1318 (main), 1330 (strong)