eur/usd weekly forecast for 25 feb to 1 march 2013
euro dollar currency pair this week closed with huge loss.last closing was below 2 years average level on weekly chart which is very bad sign for euro from medium to long term view.
this week eur/usd made high at 1.3433 while low was 1.3144 so almost 300 pips downside rally mostly on profit booking as well as fresh short selling.on indicators side eur/usd weekly macd still strong bullish while rsi is near support/
for next week outlook remain negative for euro and below 1.3180 traders can take shorts with small stoploss of 1.3200 and expect 1.3020 and then 1.2680 in medium term.
this was 3 rd week of weakness for euro suggesting underlying weak fundamentals!!
1.3060 is 6 month average while 1.3040 is 12 month average and they may show some support.
gbp/usd weekly forecast for 25 feb to 1 march 2013
pound dollar currency pair closed at 1.5172 with heavy losses this week.this was second week of sharp follow up selling.in last 2 weeks gbp/usd lost almost 700+ pips look like entered into bear market like yen?on weekly chart bottom of may 2012 is breeched and that is also very bearish sign.
medium to long term trend and momentum both down for gbp/usd and next week may continues downfall after small bounce back.
hold shorts wit trailing stoploss of 1.5350 and expect 1.4800 as fresh revised target in next 1-2 weeks time.
gbp/usd weekly macd below zero and rsi is with absolute sell signal and at 35.
usd/jpy weekly forecast for 25 feb to 1 march 2013
dollar yen currency pair this week closed with loss at 93.34.this week usd/jpy pair made low at 92.77 while high was 94.21.here medium to long term trend still bullish for dollar but now chart forming early signs of correction but not confirmed yet.
major average still way down in between 86-83.usdjpy weekly macd is still bullish while rsi off the highs and just below 80.
for next week outlook remain mixed and here traders can go for opportunistic shorts near 93.6 to 94 with stoploss just above 94.6 and expect 92.8 to 92 levels on correction/consolidation.
usd/chf weekly forecast for 25 feb to 1 march 2013
dollar franc currency pair this week closed with gains at 0.9295.this was 3rd straight week of gains for dollar.in 3 weeks usdchf pair moved from 0.90 to now 0.93.medium to long term trend is still down as trading below 12 month average of 0.9330 and 24 month average of 0.9390.but momentum clearly in favor of us dollar.
usd/chf weekly rsi is near breakout and may given fresh buy signal in next week?
for next week usdchf outlook remain positive and traders can expect 0.9390 to 0.9480 as upside targets.0.9190 is fresh entry zone and 0.90 is stoploss.
usd/cad weekly forecast for 25 feb to 1 march 2013
us dollar vs Canadian dollar currency pair this week closed at 1.0200 with heavy gains.this week usdcad low was 1.0057 while high was 1.0255 and this was straight 3rd week of gains after long term breakout.our given target of 1.0255 is achieved this week given buy at 0.9980!!
usdcad long term trend and momentum strong bullish and invest on decline here and expect large target in next 8-12 months.
for next week usd/cad outlook is strong positive and expect 1.0350 to 1.0430 as targets.
usd/sek weekly forecast for 25 feb to 1 march 2013
us dollar vs Swedish krona currency pair this week closed at 6.4142 with gains.on weekly chart we can see this pair going through consolidation and shown very range bound moves.
on chart 6.28 is bottom and above this traders and investors can hope for reversal as dollar index inching up.
on upside 6.57 is 6 month average and first target level on reversal or technical bounce back.
usd/sek macd still very bearish while rsi showing signs of recovery.