Weekly Forex Market Update & Key Levels May 25 – 29th

WEEKLY FOREX UPDATE

EURUSD – Last week the Euro faced an entire week to the downside as it failed to break through the overhead resistance mentioned in our commentary. The Euro is currently resting on a support zone, and could break down this week. If it does, the next support level at 1.08 could be reached. Issues surrounding the euro zone will continue to be challenging and further downside could be expected.

EURUSDDaily-052215

USDJPY – The USD is reaching an important level at 122.000. Watch this currency pair for possible entries at the resistance level.

USDJPYDaily-052215

WTI – Another week went by and the overhead resistance was not broken. For now, price is ranging in a consolidation range and could break down into the summer months.

WTIDaily-052215

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Chris Ferreira

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