STRATEGIST
Private, 1st Class
- Messages
- 3
EURUSD - weekly forecast, 01/03–01/07
The pair is trading along an uptrend. But due to the fact it has reached key resistance level 1.3410, we can expect it to rebound and start a downtrend with the downside target set at support level 1.3110 and further at 1.2875. Take into consideration that a downtrend’s development from resistance 1.3410 will be just preliminary, it won’t be fully confirmed until the pair gets under level 1.3290, which will be followed by moving down to support 1.3110 (with possible consequent correction to resistance 1.3235). If the market continues going down below level 1.3110 afterwards, it will get to support 1.2875.
Continuation of an uptrend can be expected in case the pair confidently rises above resistance level 1.3410, which will be followed by moving up to resistance 1.3670.
GBPUSD - weekly forecast, 01/03–01/07
The pair is trading along an uptrend, but its further upside is constrained by resistance levels 1.5590 and 1.5635, both of which had been tested last week.
We can expect an uptrend to continue in case the pair keeps rising above resistance level 1.5635, which will be followed by moving up to a strong resistance level 1.5725. Should the market get over that level too, it will get to key resistance 1.5800.
We can expect a downtrend to start in case the pair drops below support level 1.5545, which will be followed by moving down to support 1.5360. The nearest strong support is seen at level 1.5265.
GOLD - weekly forecast, 01/03–01/07
The gold is trading along the “B-B+” uptrend and it is above resistance level 1414. This speaks in favor of continuation of an uptrend with the upside target set at resistance 1438. If the market keeps moving up above that level, we can expect it to reach level 1472.
There is also a probability of a downtrend development from current level 1420, which will be confirmed as soon as the gold goes under support 1414. If so, it will then move down to support 1404. Should it go even lower than that, we will expect it to reach support 1375.
The pair is trading along an uptrend. But due to the fact it has reached key resistance level 1.3410, we can expect it to rebound and start a downtrend with the downside target set at support level 1.3110 and further at 1.2875. Take into consideration that a downtrend’s development from resistance 1.3410 will be just preliminary, it won’t be fully confirmed until the pair gets under level 1.3290, which will be followed by moving down to support 1.3110 (with possible consequent correction to resistance 1.3235). If the market continues going down below level 1.3110 afterwards, it will get to support 1.2875.
Continuation of an uptrend can be expected in case the pair confidently rises above resistance level 1.3410, which will be followed by moving up to resistance 1.3670.
GBPUSD - weekly forecast, 01/03–01/07
The pair is trading along an uptrend, but its further upside is constrained by resistance levels 1.5590 and 1.5635, both of which had been tested last week.
We can expect an uptrend to continue in case the pair keeps rising above resistance level 1.5635, which will be followed by moving up to a strong resistance level 1.5725. Should the market get over that level too, it will get to key resistance 1.5800.
We can expect a downtrend to start in case the pair drops below support level 1.5545, which will be followed by moving down to support 1.5360. The nearest strong support is seen at level 1.5265.
GOLD - weekly forecast, 01/03–01/07
The gold is trading along the “B-B+” uptrend and it is above resistance level 1414. This speaks in favor of continuation of an uptrend with the upside target set at resistance 1438. If the market keeps moving up above that level, we can expect it to reach level 1472.
There is also a probability of a downtrend development from current level 1420, which will be confirmed as soon as the gold goes under support 1414. If so, it will then move down to support 1404. Should it go even lower than that, we will expect it to reach support 1375.
