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EUR/USD and GBP/USD Forecast

Discussion in 'Technical Analysis' started by Daily.Forex, May 20, 2016.

  1. Daily.Forex

    Daily.Forex Forum Member

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    The EUR/USD pair fell initially during the day on Thursday, but found enough support just below the 1.12 level to turn things around for a bit of a hammer. The GBP/USD pair went back and forth during the course of the session on Thursday, as the market continues to show quite a bit of volatility after the move higher.

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  2. JamaMolla

    JamaMolla Member Trader

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    [​IMG]

    The financial markets started the week on fairly neutral zone. EUR/USD remains on the downside for channel sot which stands at 1.1137, but the current situation suggest we might not see this getting challenged and bulls might come in soon.
     
  3. JamaMolla

    JamaMolla Member Trader

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    GBP/USD has turned neutral at present after massive bullish movement last week eventually turning into bearish, but now it stand still with neutral movement working over, we might see the clear picture during the week, so it’s wait and watch scenario till then.
     
  4. Sarfraz Ahmed

    Sarfraz Ahmed Well-Known Member Trader

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    EUR/USD has really dropped off before closing out for the week, but we still are very much into neutral trend, so it will be wait and watch scenario as how things work out this week, but we are bullish till FOMC.
     
  5. Sarfraz Ahmed

    Sarfraz Ahmed Well-Known Member Trader

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    GBP/USD went really into bullish trend in last few days before closing the week at middle zone. We expect to see slightly neutral start for the first couple of days of the week, but eventually we should be below 1.29 before the next week closes out.
     
  6. Sarfraz Ahmed

    Sarfraz Ahmed Well-Known Member Trader

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    EUR/USD this week was in serious mode which took the pair around 1.350 before closing out around 1.1320, it’s likely to lose further ground, but with the dollar being very soft, it will be interesting to see how it goes next.
     
  7. Sarfraz Ahmed

    Sarfraz Ahmed Well-Known Member Trader

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    GBP/USD for a change was bullish this week, but the track changed quickly over last day of closing with the pair stopping around 1.3075, it’s likely to dip further and might quickly go inside 1.30 levels, but till that’s not broken, it’s not wise to enter any trade.
     
  8. Sarfraz Ahmed

    Sarfraz Ahmed Well-Known Member Trader

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    EUR/USD was bullish through the week before closing out at slightly negative mark around 1.123, it’s likely to cover some ground in coming week, but fingers crossed here till we get clear direction.
     
  9. Sarfraz Ahmed

    Sarfraz Ahmed Well-Known Member Trader

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    GBP/USD was mixed package with the pair trying to breach pass 1.35, but failed to do so by long shot and ended the week at similar range to where it started around 1.3266 level.
     
  10. Sarfraz Ahmed

    Sarfraz Ahmed Well-Known Member Trader

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    EUR/USD did tried breaking out of the range, but wasn’t able to do it successfully and is back stuck in those levels, it’s unlikely that we will see this changing anything soon.
     
  11. Sarfraz Ahmed

    Sarfraz Ahmed Well-Known Member Trader

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    GBP/USD once again reminded us the horrible scenes that took place during the referendum with Brexit decision; it dropped nearly 600 pips over the course of the week and nearly 500+ within few minutes before recovering that much equally quickly! Hard to see what’s coming next!
     
  12. Sarfraz Ahmed

    Sarfraz Ahmed Well-Known Member Trader

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    EUR/USD this week was bullish right from the outset; it went high up to 1.1140 and eventually closed out there only. It’s likely that we will see the trend continuing on same font during the start of next week especially on Monday, but then on it’s likely to be neutral yet violate with the Elections ahead in front of us, so it’s wise to close out trade before that till there is clarity.
     
  13. Sarfraz Ahmed

    Sarfraz Ahmed Well-Known Member Trader

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    GBP/USD too this week picked off with the pressure on Dollar coming through and UK High Court ruling made the move and the pair to some relief went above 1.25, it’s likely to continue in similar gear but all eyes will be on U.S Presidential Elections because that will decide whether we are likely to see it go further up or if there is any pull back waiting to come into picture.
     

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