Eur/usd yearly forecast-remain sell tgts 1.0050-0.9570
Euro dollar pair on monthly chart is in absolute downtrend and with strong bearish momentum. In 2016, we saw euro tried to gain but at the end of 2016, dollar stated it rally and pushed euro to new low. This might continue on 2017, and expect euro to slide up to 1.0050 which is my first bearish 2017 target for euro and below it euro will fall below 1.0 level to my next target of 0.9560. On upside 1.0830 is major resistance on weekly closing basis and below it traders keep long term sell on rise strategy on euro. Fresh bearish pattern in monthly chart indicators suggesting major breakdown for euro for long terms.
Gbp/usd yearly forecast-remain sell tgts 1.1210 to 1.0100
Aud/usd yearly forecast-expect recovery rally up to 0.7750-0.83
Aussie dollar vs. US dollar pair is slowly and steadily coming of record lows. In 2016, we saw weak opening at start of 2016 and fresh low of 0.6790 after that whole year aud consolidated and slowly recovered and almost closed flat negative for 2016 which is reversal sign of chart. For 2017,. Above 0.7280 on weekly closing basis my view remain bullish and long term technical targets are around 0.7750 and then 0.83. Below 0.7280, aud usd major support will be around 0.6780.
Usd/jpy yearly forecast-bull run might continue for targets 126-135
Usd/chf yearly forecast-remain buy tgts 1.0530-1.0880
US dollar vs. Swiss franc pair is trading at 1.0098 with loss in January 2017. But on monthly chart, usd chf pair price trend and momentum both are strong bullish. In 2016, we saw positive yearly closing for pair after correction and year-end rally in this pair., will remain buy on dips above 0.9980 support on weekly closing basis. On upside investors can expect fresh record high for pair around 1.0530 and then 1.0880. Below 0.9980, usd chf next major long term support zone will be 0.9630.
Usd/cad yearly forecast-remain sell tgts 1.2370-1.13
US dollar vs. Canadian loonie pair is trading at 1.3126 with loss for this month. Usd cad in 2016, started strong and hit record high level of 1.4630 but then after strong profit booking and then dollar strength made it to close with loss. Usd cad pair for 2017,. For 2017, usd cad pair below 1.3530 will remain weak and sell. On downside, loonie might continue to gain and is heading towards my 2017 technical targets of 1.2370 and below it expect next big target at 1.13. On upside 1.3530 and 1.46 are major resistance zones for year 2017.