All Blog Entries

[B]The greenback’s strength hit hard on the British Pound last week. The Pound faces the second version of the [/B][URL="http://www.forexcrunch.com/gbp-to-usd-falls-on-ongoing-recession/"][B]Q3 GDP[/B][/URL][B] which isn’t expected to change dramatically, among other events. Here’s an outlook for the upcoming week in Britain and an updated technical analysis for GBP/USD.[/B]

GBP/USD chart with support and resistance lines marked on it. Click to enlarge:
[URL="http://www.forexcrunch.com/wp-content/uploads/2009/11/gbp-usd-british-pound-forecast1.png"][IMG]http://www.forexcrunch.com/wp-content/uploads/2009/11/gbp-usd-british-pound-forecast1-450x322.png[/IMG][/URL]

Britain isn’t suffering ...

EURUSD Forecast: Remains consolidating with neutral bias. Technical study and levels to be watched today
The EURUSD made another rejection to consistently move below 1.4820 key support level on Friday. This fact surely keep the major bullish scenario intact, but the bearish reversal scenario warning showed by double top pattern with peaks around 1.5062 area is also still valid and the bias should remains neutral as market is consolidating now. Overall, this pair has been indecisive in the last two weeks and we need a significant movement above 1.5062 to continue the bullish continuation towards 1.5150 and 1.5300 or consistent move below 1.4820/00 area to confirm further bearish pressure towards 1.4625 and 1.4450 area. Immediate resistance ...

[B]Bias: [/B] I look for a cap in the 81.95-82.23 area and for the downside to resume

No real strength seen on Friday but a dip down to the 80.62 support which held perfectly. Now while 81.95-23 caps I feel we can see further losses develop. Therefore look for bearish set up patterns in this general resistance area. From that resistance a break back below the 81.40 pivot support would extend losses to 80.95 at least. While this holds there may be some potential for a sideways consolidation. Thus, breach of 80.95 woud retest 80.62. This area should support for a brief correction but I'll be looking for follow-through that should extend losses to 79.73 at least and I suspect the 79.20-45 target support.

Please ...

Attached Files

• The Brief Daily Forecaster.pdf (23.4 KB, 102 次查看)

USDJPY stays in a falling price channel on 4-hour chart and remains in downward trend. Deeper decline towards 88.01 previous low is still possible later today, however, rebound is expected before breaking below this level. Initial resistance is at 89.15 followed by 89.55, key resistance is at the upper border of the price channel, a clear break above the channel resistance will suggest that the downtrend from 92.32 has completed, then the following uptrend could bring price back to 91.00 or even 92.00.



Daily fx Forecast