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After touching the upper border of the price channel on 4-hour chart, AUDUSD pulled back from 1.0443, suggesting that a cycle top had been formed. Further decline would likely be seen over the next several days, and the target would be at the lower line of the channel. However, the fall from 1.0443 would possibly be consolidation of the uptrend from 9581 (Jun 1 low), as long as the channel support holds, the uptrend could be expected to resume, and another rise towards 1.0700 is still possible after consolidation.



Forex Signals

[B]BIAS[/B]: We should see the broad 1.5553-81 area support for a correction to 1.5620-40 before lower again

[B]Resistance[/B]:... 1.5610-25... 1.5640........ 1.5685-90... 1.5705
[B]Support[/B]:........ 1.5581........ 1.5553-63... 1.5521........ 1.5505

[I]MAIN ANALYSIS[/I]: The 1.5737 high appears to have been the final high with the drop below 1.5674 triggering losses that still seem to have a little more to go. The minimum downside target is at 1.5581 but allow for 1.5553. Probably the higher end of this range will support and trigger a correction higher back to 1.5610-25 minimum and could see as far as 1.5640-60. Once this correction is complete the downtrend can resume and move back below the 1.5553-80 ...

Attached Files

• The Brief Daily Forecaster.pdf (87.4 KB, 57 次查看)

GBP/USD moved upwards during the week, but gave up almost all of those gains, closing at 1.5615. The upcoming week is a quiet one, with just four releases. Here is an outlook for the upcoming events, and an updated technical analysis for GBP/USD.

After showing some strength during the week, the pound was hobbled by some disappointing data at the end of the week, including very poor Retail Sales and a Public Sector Net Borrowing release which posted a wider deficit than expected.

Read the rest of article [B][I][URL="http://www.forexcrunch.com/gbpusd-outlook-july-23-27/"]GBP/USD Outlook July 23-27[/URL][/I][/B]

Last week gold and silver resumed their downward trend and edged down during most of last week. Bernanke didn't hint of stimulus plan in his testimonies at the Hill; he also didn't offer any information about the future steps of the FOMC. According to the recent reports that came out last week the U.S housing starts rose during June, while existing home sales declined by 5.4%; Philly Fed index remained negative but slightly rose, while retail sales edged down. All these reports paint a mixed signal as to the economic progress of the U.S. If the upcoming U.S reports will paint a clearer picture of the developments in the U.S, then they may have a more substantial effect on the bullion market.
For the complete Gold and Silver Weekly ...