EUR/USD Weekly ForecastEuro 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 ForecastUS 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 ForecastPossible 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 ForecastAustralian 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 ForecastEuro 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 ForecastJapanese 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 ForecastThe 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 ForecastThe 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 ForecastBritish 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 ForecastJapanese 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