AUDUSD Rejects a Major Resistance Level April 30

As we stated in our weekly market update the AUSUSD was facing a major overhead resistance level at 0.8027 and to look for possible shorting opportunities. The Aussie dollar is now at a much lower level and anyone watching out for this trade could have made a 100+ pip profit. I maintain a bearish outlook…

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Weekly Forex Market Update & Key Levels April 27 – May 1st

WEEKLY FOREX UPDATE

EURUSD – After a bullish week, we can clearly see that the Euro has made a come back. We can expect further upward movement to the 1.10 level. At which point the Euro will be facing a long term resistance level. The overall outlook for the Euro is still bearish. AUDUSD- Same as the Euro,…

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Weekly Forex Market Update & Key Levels April 20 – 24th

WEEKLY FOREX UPDATE

EURUSD – This currency pair has appeared to make a double bottom pattern off it’s yearly lows. However, the fundamentals are still bearish and one can expect a breakdown in price at the 1.1037 resistance level. If price reaches that level look for price action setups to go short. AUDUSD – This currency pair will…

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Weekly Market Update & Key Levels April 12 – 7th

WEEKLY FOREX UPDATE

EURUSD – Will be facing a key support level at around 1.04830. A bounce off the yearly lows should be expected and key area to watch for.  Long term spectrum of the EURUSD is still bearish as the European crisis is still not over.   GBPUSD – Has broken out of a consolidation area to…

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Weekly Market Update April 5th -10th

WEEKLY FOREX UPDATE

EURUSD – Will be facing a key resistance point at around 1.10320, however, it may drop down to an area of support before it retests this resistance level.  Long term spectrum of the EURUSD is still bearish. AUDUSD – approaching an area of support going into the Asian market open. AUDUSD, may drop further before…

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