Weekly analysis by BOAFX Trading Signal Solutions

moneytree123

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AUD/USD

The bulls won the battle after the AUD hit 0.9287 level we re-hit the last weeks target of 0.9400 which was extended to 0.9457. There is resistance at 0.9438 the R2 level on the daily pivot points. I will be expecting to a channel to form between 0.9424 and 0.9448 briefly before a breakout which I will set as pending trades either side of the channel.

EUR/USD

We broke out of the channel as expected into a bullish scenario. The price hit the high of the year at 1.3650 from back in January then returned to the top of the channel. I would like to see this make a new high before entering for another buy or breaking the base of the original channel for a sell. check out the technical analysis thread to see the chart that explains the analysis.

GBP/USD

As we explained last week the top of the rising channel was acting as resistance and the GBP/USD turned around and head south. I am expecting the base of the rising channel to become the next support level around 1.5947 depending on how long it takes to get there. Check out the technical analysis thread to see the chart that explains this analysis.

USD/CAD

We are still clinging onto the resistance level from last week, however we are staying below the rising channel that we broke out of last week. My confidence in the bearish trend is growing but I will still have to see 1.0300 become strong resistance before I make my move.

USD/CHF

We are in a bearish trend at the moment and have breached a long term channel. The bullish trend that we saw develop late on in the week is the return to 0.9085 base of the long term channel which was expected. We are nearly there and I expect this to turn around into a sell early next week.

USD/JPY

The USD/JPY has slightly breached the bottom of the symmetrical triangle that I spoke about last week but it is still not confirmed. On the 4 hour chart there is a bearish channel that we are currently close to the top of. I will be selling this as soon as the markets open on Monday.
 

moneytree123

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AUD/USD

We broke through the channel and have continued on a bullish trend for the rest of the trading week last week and are reaching a point where retractment is likely before a further up move. 0.9803 is a key level and could open the way to reach early year highs around 1.0511.

EUR/USD

We broke above my entry limit at the end of the week and have come to rest around the 1.3680 mark. I expect further bulls on this pair but to gain confidence I would like to see the 1.3710 high broken from back in January.

GBP/USD

We are still in the rising channel about half way up and have had some retractment from the upward burst on friday. There is support around 1.6153 I would like to see this hold up before I re-enter for another buy.

USD/CAD

We triggered our entry level of 1.0300 late in the week and that price is looking to become resistance. This is a good sign for the bearish traders and has build my confidence to continue with the sell.

USD/CHF

As I expected things are going to get quite choppy on this currency pair for a term. If you are in for the sell then my advice would be to stick with it as I'm confident the outcome will be bearish over the next few weeks.

USD/JPY

After a wild return into the symmetrical triangle last week we have again turned to the sell trend. I am expecting this to make a new low over the next week hopefully breaking below the 96.50 level.
 
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