forex forecast for next week 6 to 10 may 2013

forex forecast for next week 6 to 10 may 2013


eurusd forecast for next week 6 to 10 may 2013

euro this week closed with gains at 1.3113.this week eur/usd pair made high at 1.3242 while low was 1.3042.on weekly chart still trading below 2 years average but now trading above 6 and 12 month average and with bullish next 1-2 weeks time frame expect to breakout above 1.3180 zone and may show 1.3280 and 1.3450 as upside target.on downside 1.3030 is strong support.on weekly chart eurusd macd and rsi both with bullish signals.

gbpusd forecast for next week 6 to 10 may 2013

gbpusd this week closed with gains at 1.5565.on chart trend is still down ad trading below 12 and 24 month averages while on downside 1.55 is 6 month average support and on upside 1.57 is 12 month and 1.58 is 2 years averages and major resistances.for next week we may expect 1.57 and then 1.58 on downside 1.55 remain as stoploss as well support level.gbpusd weekly rsi is near fresh buy signal while macd already formed rounding bottom.

usdjpy forecast for next week 6 to 10 may 2013

usdjpy this week closed with gains at 99.00 on account of weaker yen.this week yen made low at 97 while high was 99.26.on weekly chart dollar is bull market against yen and trading near highs.all major averages way below 92 to 85 zone.for next week we may see 100+ levels here and above 97 consolidation support zone keep long view.on indicators macd is bullish and cci still hovering near overbought zone.

usdchf forecast for next week 6 to 10 may 2013

usdchf pair in this week closed at 0.9352 with loss.this week usd/chf high was 0.9430 while low was 0.9247.on upside 0.94 is 2 years average resistance while 0.9340 is 12 and 6 month average support.on weekly chart macd is at fresh breakout while rsi is still above 50.below 0.94 outlook remain negative for dollar and may show 0.9250-0.92 levels as downside targets.

usdcad forecast for next week 6 to 10 may 2013

usdcad pair this week closed with huge loss at 1.0079 on account of weak dollar.on weekly chart trading near 2 years average of 1.0070.on upside 1.0100 is 6 month average and resistance while on downside 1.0040 is 12 month average on usd is near downside breakout against cad.rsi already given sell signal on weekly chart.while macd formed corrective rounding top.for next week traders can project downside targets at 0.9985.stoploss remain above 1.0100 on closing basis.

usdsek forecast for next week 6 to 10 may 2013

usd/sek pair this week closed at 6.4986.this week usdsek pair high was 6.5629 while low was 6.4229.given reversal from 12 month average suggesting continuation of downtrend and heading towards previous lows of 6.34 and then trading below 6 month average of 6.49 while above that 6.59 is 12 month average and 6.6750 is 2 years average zone.on indicators usdsek weekly rsi given fresh sell signal while made is with bearish crossover.

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Pramod Baviskar

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