Welcome in weekend’s summarize of the most interesting looking currency pairs. The next week may be really volatile – situation in Iraq influence the markets and traders emotions may play the role. Let’s start:
EUR/USD:
The most popular currency pair is still closed in the range between resistance (13.650-1.3680) and support (1.3500-1.3520). Trend is clearly downward, so it is worth to look for PA sell signals – of course if price reaches the resistance.
GBP/JPY:
Key resistance was broken and now should act as a support – clear purchase signals may give opportunities to open long positions (which are following the recent momentum and long-term trend). Cross really worth an observation.
GBP/USD:
Similar situation on Cable. Price reached the highest levels since 2008! Really dynamic trend and resistance which was broken on Thursday and now should act as support. Go to lower timeframes for effective buy signals.
USD/CAD:
Friday’s data from Canada – which occurred to be much better than the consensus said – brought Canadian dollar increases. USD/CAD dynamically broke a strong support and now is approaching the next one, which is technically the last – slippage below it should start a huge sale. But for now, it is for to look for such sell signals, which will give opportunity to join the downward trend and the last momentum. The first occasion for it will be a 1.0820 re-test (current resistance).
XAU/USD:
Gold changed the trend from the downward one and now is going up – breaking with ease the resistance near 1277USD. Wait for the correction and then open the long position.
