AUD/USD at the moment is in strong bearish trend, it has been going on for past 2-3 weeks, I believe we could see this going further till 0.7175, but then onwards we might see some covering of lost ground, it will be good to have a long trade.
Analysis For Major Pairs
- Thread starter MdJamalMolla
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AUD/USD at the moment is in strong bearish trend, it has been going on for past 2-3 weeks, I believe we could see this going further till 0.7175, but then onwards we might see some covering of lost ground, it will be good to have a long trade.
EUR/USD is very hot this week going downwards without any break whatsoever, it’s likely that we will see some pull at some stage during upcoming week, but by large we will continue in bearish trend till May, it will all change in June, so hold up your long trades till June.
GBP/USD after massive gain this week came down tumbling towards 1.45 level again, but this is likely such a case of recovery, we will definitely see a bullish movement in upcoming week, but we need to be careful we don’t enter long unless there is clarity.
EUR/JPY has been very cold this week, it has been stuck between 122-123 levels, it’s likely that we will see a proper trend coming in the week and that’s more likely to be bullish but one needs to wait till there is clear trend taking over before we enter.
USD/JPY has been bullish like hardly seen during last 3-4 months, it has been refreshing to see that finally bulls have taken over, but for how long is the question everyone wants to know answer of, I believe we could see the pair challenging 112 levels, but it’s unlikely to go beyond that.
EUR/USD went downhill on Friday, but maintained neutral trend, it’s likely that we will see this continue this week as well and that’s why I won’t be a good idea to go on with long term trade at present till there is clarity in trend.
GBP/USD continued the down trend after plenty of negative news came in pulling it further down, it’s likely to continue that way, but we might see some pull back, its good chance to have an entry at current levels with tight stop loss placed at 1.2875 level.
EUR/JPY was bearish this week and finished the week around 113 level, it’s pushing towards 112 level, but we think it’s unlikely to break it, so we see good opportunity for long trade here, but SL must be placed in order to avoid any hiccups.
GBP/USD this week was in strong bullish trend to kickoff, but went downhill very quickly due to the events happening, it’s likely to pull some space during the coming week, but eventually we expect the pair to drop down again quickly.
EUR/JPY this week was in mixed trend with the pair riding high towards 116 mark before dropping nearly 200 pips to sit at 114 level at the moment, it’s very much likely that we will see another shift in trend next week with many things lined up.
USD/JPY has been pulling back up after regularly dropping, it’s likely that we will see the pair again going for 100 level during next week which is very crucial for all major pairs including this, so good opportunity go for short now.
EUR/USD went down smoothly during the week with no major stopping or blockage coming in the way and dropped down to 1.0880 level, but it will be interesting to see where it’s going to head next, but there is unlikely to see any major push either way.
GBP/USD was into settling mood and stable movement comes into play and is likely to be that way with the pressure that’s with Brexit, so it’s likely to continue in same fashion but may just hold up in between to pull slightly.
USD/JPY has been showing strong promises for crossing 104 level, but has not been successful at it and even with strong bullish trend, it’s unlikely we will see this crossing too far, so expecting to see the bear willing the weight quickly.
GBP/USD pair has started the week on bright fashion and has pushed towards 1.25 levels but remained under that in the moment. Still, it’s open opportunity for sell opportunity, but just got to make sure we put it in right spot to get it going.
USD/JPY has really raced towards 111 level and is likely to push further but still we are expected to see reversal during same stage during the week, so it will be interesting to see where it all lands, but we can commit towards short if there is evens light reversal.
EUR/JPY has opened higher and is likely to push ahead to break pass 118 level while we can see that coming, it’s also possible to see the reversal coming into the place, so we need to be on spot for the thing to work it out.
2017 is the year to watch out for GBP and UK economy as they bring measures to exit the EU which might cause turbulence in the financial sector as UK (London) is the head of major financial center which might lose to Europe. People from UK working in EU and vice-versa might also be affected. So the free flow of goods, services, finances and capital might take a hit, more so in case of Hard Brexit. Markets don’t like uncertainties which surely have its impact on it!
Even a thin holiday week did not keep this pair down and is on the rise throughout. Nothing much to look forward this week as the year nears an end and markets in general are in low volume trading. Sharp price movements in either side can’t be ruled out due to the timing and market conditions. With such a market, there is no need to trade even though traders might keep an eye on important events especially developing/breaking!
With a holiday thinned trading, the forex market is going to be dull though the usual uncertainty would be still there where even a small event might produce a spike on either side. Traders as such would be cautious enough and would not be taking too much risk and won’t push the prices too far which are going to trade in a tight range! Other markets like stocks and bonds might have an influence too, but their own volumes would be lower too!
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