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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….

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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…

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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…

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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…

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USDCAD Weekly Analysis

USDCAD is facing 1.2997 resistance, a breakout of this level could signal resumption of the uptrend from 1.2526, then next target would be at 1.3200 area. Support is at 1.2728, only a breakdown below this level could trigger another fall towards the bottom support trend line of the price…

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USDJPY Weekly Analysis

USDJPY broke below the bottom of the price channel on its daily chart, suggesting that the upside movement from 104.63 had completed at 111.39 already. Further decline would likely be seen and a breakdown below 108.64 support could take the price to 106.00 area. Resistance is now at 111.39,…

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