GBP/JPY Weekly Forecasts

  The British pound has broken down significantly during the course of the week, slicing through the ¥145 level. However, we turned around to form a massive hammer. If we can break above the top of the hammer, I think the market probably goes towards the ¥150 level again. The overall attitude of the market has been negative over…

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GBP/USD Weekly Forecasts

  The British pound also acted very much like the Euro, and I think the 1.33 level may be an area where we see buyers come into the marketplace and try to pick up value. I think a bounce over the next week is to be expected. However, if we break down below the hammer for the week, it’s…

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EUR/USD Weekly Forecasts

  The Euro fell significantly during the week but turned around to rally from the 1.15 handle. That’s an area that coincides with the 50% Fibonacci retracement level, and also structural resistance that now should offer support. The fact that we formed a hammer tells me that buying on the dips and building a position to go higher is…

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NZD/USD Weekly Forecasts

  The New Zealand dollar has gone back and forth during the week, as we continue to bounce around between the 0.68 level on the bottom, and the 0.70 level on the top. We did break above there momentarily, but if we can break above the top of the candle stick, I think the market reenters the longer-term consolidation…

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