Forex Outlook: Weekly Forecast, Aug 12 – Aug 18

EUR/USD Weekly Forecast

Euro losses ground on US Dollar

After two weeks of gains the EUR/USD closed lower on the week with the USD taking back EUR gains.



I am cautious about: I am not convinced the US dollar will resume it’s recent strength unless Spain & Italy bonds yields rise over 7%.

My Outlook: I expect for the USD to start the week building off of last weeks gains but I have buy stop orders in ready to reverse.

You can follow the eur/usd forecast here as they occur during the week.

• 1 euro = 1.2293 US dollars

AUD/USD Weekly Forecast

US Dollar and Australian dollar in battle for control

AUD/USD stalls recent gains as the US dollar mounts a counter attack toward the end of the week ending in a doji pattern forming on the weekly chart.



My Outlook: Although USD strength may be on hold the pair looks to be forming a reversal nevertheless and short AUD/USD looks to be the play this week.

You can follow the aud/usd forecast here as they occur during the week.

• 1 Australian dollar = 1.0566 US dollars

AUD/JPY Weekly Forecast

Possible Trend change on Australian dollar vs Japanese yen

Nice doji reversal pattern on the aud/jpy weekly chart.



I am cautious about: Nothing, this looks promising.

My Outlook: Watching for AUD weakness and ready to sell if the pair takes out last weeks low.

You can follow the aud/jpy forecast here as they occur during the week.

• 1 Australian dollar / Japanese yen = 82.6760563

EUR/AUD Weekly Forecast

Australian dollar resumes down trend vs Euro

EUR/AUD close to making new yearly lows.



I am cautious about: Coming AUD weakness.

My Outlook: I am on the sidelines here waiting for signs of a trend reversal.

You can follow the eur/aud forecast here as they occur during the week.

• 1 Euro / Australian dollar = 1.1634488

EUR/CHF Weekly Forecast

Euro spikes vs the Swiss franc

Presented with little comment…





You can follow the eur/chf forecast here as they occur during the week.

• 1 Euro / Swiss franc = 1.20078144

EUR/JPY Weekly Forecast

Japanese yen begins to resume again against the Euro

Although not too convincing of a move the EUR/JPY has closed lower and did close lower than last weeks opening which is a bearish signal.



My Outlook: Unless the eur/jpy makes a lower low than last week this pair is on the sidelines for now.

You can follow the eur/jpy forecast here as they occur during the week.

• 1 Euro / Japanese yen = 96.1893584

GBP/JPY Weekly Forecast

The British pound sterling and Japanese yen battle to Doji

GBP/JPY closed in a doji candlestick pattern on the weekly time frame showing an equilibrium between the bulls and bears battling for control.



My Outlook: I am looking for a break above last week’s high to go long here although I do not expect much of a move. I do see longer term this pair setting up for the resumption of the trend down.

You can follow the gbp/jpy forecast here as they occur during the week.

• 1 British pound sterling = 122.6410 Japanese yen

USD/CAD Weekly Forecast

The US Dollar counties big gains against the Canadian dollar

USD/CAD closed at toward weekly lows making nice sized gains.



I am cautious about: Nothing on the radar on this pair.

My Outlook: I expect for the USD to continue making gains on the CAD this week.

You can follow the usd/cad forecast here as they occur during the week.

• 1 U.S. dollar / Canadian dollar = 0.991896208

GBP/USD Weekly Forecast

British Pound Gains on US Dollar

GBP/USD closed higher on the week making a lower low but also a lower high. However, price did close on weekly highs. There seems to be some room higher as currently the pair is trading at the mid range of a rising channel.



I am cautious about: Currently in a rising channel but the trend is still down and this past week’s bar chart did not make a higher high.

My Outlook: I would be buying pounds here and selling us dollars while be ready for USD strength at anytime.

You can follow the gbp/usd forecast here as they occur during the week.

• 1 British pound sterling = 1.5673 US dollars

USD/JPY Weekly Forecast

Japanese Yen counties to hold against US Dollar

USD/JPY closed down although making a higher high and low.



I am cautious about: The trend is still down yet usd/jpy has not made a lower lows this week.

My Outlook: It looks like Yen strength is ready to resume against the USD. Noticing the higher high and higher high and see a possible trend change occurring.

You can follow the usd/jpy forecast here as they occur during the week.

• 1 US dollar = 78.2500 Japanese yen