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.

EURUSDH4 - 041215

 

GBPUSD – Has broken out of a consolidation area to the downside. A pullback into 1.4073-1.4730 can present a shorting opportunity.

GBPUSDH4-041215

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Chris Ferreira

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