Greek Prime Minister Alexis Tsipras will meet with German Chancellor Angela Merkel on Monday, for the second time in five days, at the start of a week that may prove decisive for Greece’s future in the euro area.
The EURUSD had a bullish momentum last week after the FOMC, topped at 1.1040 but closed lower at 1.0823. The bias is neutral in nearest term probably with a little bullish bias testing 1.0900 area. Immediate support is seen around 1.0750. A clear break below that area could trigger further bearish pressure testing 1.0700 area. I still prefer to stand aside for now and wait for further development.
The GBPUSD had a bullish momentum last week after the FOMC, topped at 1.5164 but closed lower at 1.4948. The bias is neutral in nearest term probably with a little bullish bias testing 1.5000 area. Immediate support is seen around 1.488…
The USDJPY had a bearish momentum last week and now testing the lower line of the bullish channel as you can see on my h4 chart below. The bias is bearish in in nearest term especially if price able to make a clear break below the bullish channel and 119.75 support area testing 119.30 – 119.00 or lower. Immediate resistance is seen around 120.30. A clear break above that area could lead price to neutral zone in nearest term testing 121.00 region.
The USDCHF had a bearish momentum last week after the FOMC, bottomed at 0.9623 but closed higher at 0.9744. The bias is neutral in nearest term. Important intraday range to closely watched is seen between 0.9730 – 0.9850. A clear break and daily close above 0.9850 could trigger further bullish pressure testing 0.9900 – 0.9980. On the other hand, a clear break below 0.9730 could trigger further bearish pressure retesting 0.9623 area.
It should be a relatively quiet news week for the important global currencies, with little scheduled for any currency except the U.S. Dollar, which can be expected to remain in focus. The Japanese Yen, Swiss Franc and Australian Dollar have no high-imp…
Oil prices jumped on Friday, snapping a 4-weeks losing streak, as the dollar fell on interest-rate uncertainty, lifting demand for dollar-denominated commodities from holders of other currencies.
The Australian dollar maintained its skittish mood last week, trading in more than a two and half cent range when valued against its US Counterpart. Gyrating between a low of 0.7589 and a two week high of 0.7845 the majority of the s…
The U.S. dollar may have weakened somewhat on Wednesday after Fed Chair Janet Yellen’s more-dovish-than-expected comments tempered expectations for a rate hike as early as June.
Hello traders good to be back with you on this Friday. I would like to talk about this trade plan for the GBPUSD as you can see we are at support and would like to see some price action. I have placed the Fibonacci tool on the chart as you can see. What i am waiting for is a pullback even if it is a small one and look to sell this pair. I have placed a rectangle on the chart showing the entry levels where it would be nice to short this pair from there. It is very possible that this just might drop and give us no pullback as the GBP is good for that. If that happens enter the trade and use the previous support as resistance and place your stop according to your money management rules. The stop is at the daily pivot point as shown on the chart as well as the take profit at 146.10 area.Expect a bounce at the S2 pivot I do not think this will be a big deal as this pair is strong to sell as the dollar is very strong. Traders enjoy your weekend break and talk with you soon….. William