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Technical Analysis
Forex Analysis and News for Major Currency pairs
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[QUOTE="vicknic, post: 126492, member: 29894"] [B]Here is this week's Market outlook for three Major Currency Pair[/B] [B]GBPUSD[/B] [U]Bullish[/U] Last week, the GPDUSD peaked by 370 pips and traded at 1.2908. This morning, it went beyond last week’s high and touched a high of 1.2910. This shows that there is still a chance it will push higher towards 1.2950. In the meantime, it is too early to expect long term stability at this level. Price has moved unpredictably - likely a pause in an uptrend. So, the price target may continue to revolve around 1.2850, 1.2900 and 1.2950 this week. [B][U]EURUSD[/U][/B] [U]Bearish[/U] The resistance line at 1.0750 was breached last week, then it retraced. No doubt the French Election is driving the market sentiment at the moment and the recently concluded vote on Sunday drove pairs like EURUSD to a certain level. Today the EURUSD is gaining at 1.32% at 1.0870. A breach of 1.0838 may result to April 24 Low at 1.0821. But the outlook holds until the resistance line at 1.0800 is breached, likely to take place this week. [B]USDCAD[/B] [U]Bearish[/U] The pair has now dropped to a Fresh Low of 1.3430 as there is a fresh pressure from the activities of traders selling the green back. The French presidential election seems to have created a new atmosphere over the Donald Trump’s plans to cut down the U.S. massive tax on business bodies. USDCAD is likely to find a new support level at 1.3380, and if breached could slide toward 1.3330 region. [B]Trade the Major currencies with Profiforex - 500% Bonus[/B] [/QUOTE]
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