What is the trend in Forex Majors for coming week – Forex Trading Forum

What is the trend in Forex Majors for coming week

 

– EURUSD

– GBPUSD

– USDJPY

– XAUUSD

EURUSD

Daily Supports: 1.07950, 1.07650 & 1.06300

Daily Resistances: 1.08300, 1.08600, 1.08900 & 1.09200

Weekly Supports: 1.07950, 1.07300 & 1.06650

Weekly Resistances: 1.09550, 1.10250 & 1.11700

Daily Chart

Weekly Chart

 

After reaching a marginally higher high on Monday last week, EUR changed a direction.

Is it just a consolidation before continuation Up or a beginning of a deeper correction?

Monday – Tuesday should tell us – 1.07650 is an important level to watch on the lower side and 1.08600 on the upper one.

Monday option 1 – test of 1.08300 , failure and a new low later on

Monday option 2 – test of 1.08600 and close just below it – Tuesday Down

What is the trend in Forex Majors for coming week

GBPUSD

Daily Supports: 1.28850, 1.28500 & 1.28050

Daily Resistances: 1.29300, 1.29700 & 1.30100

Weekly Supports: 1.28850, 1.28500, 1.27750 & 1.26600

Weekly Resistances: 1.30150, 1.30450 & 1.30800

 

Daily Chart

 

Weekly Chart

 

Similar to EURUSD, Cable hit a new high just to turn down sharply.

However, this is still a very Bullish formation and will be driven more by EURGBP cross.

As long as it stays above 1.27750 , we can expect sudden Rally upwards.

Monday should bring us a bit more down – test of 1.28500.

What is the trend in Forex Majors for coming week

USDJPY

Daily Supports: 149.100, 148.850 & 148.150

Daily Resistances: 149.650, 150.150 & 150.750

Weekly Supports: 148.800, 146.850 & 146.550

Weekly Resistances: 149.650, 150.750 & 151.300

 

Daily Chart

 

Weekly Chart

 

For Monday we have a Bullish Pattern, but USDJPY has to take out 149.650 for any significant move Up.

If successful, opens a road for attack at 151 zone.

Loss of 148.800 targets directly 147.350 first.

What is the trend in Forex Majors for coming week

XAUUSD

Daily Supports: 3000.00, 2955.00 & 2935.00

Daily Resistances: 3025.00, 3045.00 & 3060.00

Weekly Supports: 3000.00, 2950.00 & 2925.00

Weekly Resistances: 3060.00, 3095.00 & 3125.00

 

Daily Chart

 

Weekly Chart

 

Gold is Bullish without any doubt, and coming week should not be any different.

New High is on cards, and only question is :

Is it going to just continue Up from Monday, or we might see a day or two of some kind of consolidation.

Most of the time, when you have situation like this one – New high and next day a drop, that was covered around 50% in the same day we can see next bar sharply Up.

What is the trend in Forex Majors for coming week

Join GTA – For FREE – and get latest trading tips in real time – Click HERE to Join

Free Trial of The Amazing Trader – Click HERE