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EURUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.3283, and the fall extends to as low as 1.2496. Another fall would likely be seen after a minor consolidation, and next target would be at 1.2400 area. On the upside, a clear break above the trend line will indicate that the downtrend from 1.3283 has completed at 1.2496 already, then the following upward movement could bring price back to 1.3400 zone.



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[url="http://www.daytradingbias.com/?page_id=1093"]Weekly Outlook[/url] on the majors for the week of May 28 to Jun 1 is ready.

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The pound continued its sharp drop this week, as GBP/USD aiming to reach critical low support. The upcoming week has seven releases, including Manufacturing PMI. Here is an outlook for the upcoming events, and an updated technical analysis for GBP/USD.

A weak GDP release in the UK is pointing to a deeper recession than forecast. As well, talk of a Greek exit from the Euro-zone and a lacklustre response to the fiscal crisis in Europe is weighing on the pound, which had a miserable May, losing around six cents against the surging US dollar.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/gbpusd-outlook-may-28-june-1/"]GBP/USD Outlook May 28 – June 1[/URL][/I][/B]

Oil prices continued to decline during most of last week. The Brent premium over WTI slightly rose again to $17-$18 range. During the upcoming week there are several publications that may affect the oil market including the U.S non-farm payroll, pending home sales, EU monetary development, U.S GDP for Q1 2012 and U.S jobless claims.

For the complete oil market weekly analysis at Trading NRG

By Friday, May 25th crude oil price (WTI) edged up by 0.28% and reached $90.66/b; Brent oil also edged up by 0.1% to $107.95/b; during last week, WTI spot oil declined by 0.9% and Brent oil by 0.03%.

The difference between Brent oil and WTI spot oil slightly increased during last week, and was in the range of ...