Weekly Expectations

Economic Release : A slew of Economic Indicators are out from most countries , RBA Meeting’s Minutes, UK CPI and GER ZEW Survey on Tue, BOJ Rates Decision and UK BOE Minutes on Wed, NZ GDP and BOJ Monthly Economic Survey on Thu, CAD CPI on Fri are the most important data’s for this Week.

EURUSD Closed @ 13125, which was as expected, well above the Open and near the high on the Weekly and also on the Monthly . The Bulls breached the prior Month high indicates more strength. Our price target for this Up move are 13210-85/13375/13480/13625-75 levels. The Oscillators on the Weekly ,Daily and Hourly indicates more strength but approaching price targets . The MA on the Weekly indicates a huge barriers between 13415/13545 but the Daily and Hourly suggests that more upside pressure to be seen. The Bulls must protect the 13050-00 levels at all times to support our Bullish view . The Patterns suggests that the Bulls are still strong and no signs of weakness until 13285/13375or even 13480 levels are reached . The 15 min is suggesting that any pullback lower should be limited to 13075-25 levels and the high is not seen yet. We would want to go for a Buy near 13075-25 levels if seen otherwise look to Sell near 13285/13375 for a quick profit until a reverse is confirmed .

GBPUSD Closed @ 16215 ,which was expected , well above the Open and near the high on the Weekly and Monthly .Our price target for this Up move are 16305-95/16450/16530/16640 levels. The Oscillators on the Weekly, Daily and the Hourly suggests more strength from the Bulls. The MA on the Weekly , Daily and Hourly also indicates a lot of strength. The Bulls must protect 16175-25/16075 levels at all times to support our Bullish view. The Patterns on the Weekly , Daily and Hourly are suggesting that there is no signs of topping out in the near term before the price target is reached .The 15 min is suggesting that 16125/16075 levels are well supported and the break of 16260 may lead the Bulls to be in the driving seat again. We would want to be a Buyer near 16125/16075 levels if seen or the Break of 16260 level cautiously if the pullback is not seen..

USDJPY Closed @ 7840 which was mildly above the Open on the Weekly but well away from the low and on the Monthly was near the Open but was within Range. We believe that a temporary low may have been seen but we need to see the Breakout for the confirmation. The Oscillators on the Weekly , Daily are Mixed and the Hourly suggests some strength but it is going to be tough for the Bulls. The MA on the Weekly, Daily and Hourly indicates huge barriers for the Bulls. The Patterns on the Daily and Hourly indicates we may see a temporary halt near 7860/7905-75 /8025 levels . The 15 min is suggesting that we may see 78607905-75 levels before any pullback to be seen. Trade this cross based on the Daily report.

USDCHF Closed @ 9270 which was well below the Open and near the low on the Weekly and Monthly. Our price target for this down move are 9225/9165/9095-40/8960/8870 levels but Cautious approach is needed. The Oscillators on the Weekly , Daily and Hourly indicates more weakness. The MA on the Weekly indicates a huge support near 9160/9080 levels but the Daily and Hourly suggests more weakness to be seen . The Bears need to protect 9350/9425 levels to support the Bearish view. The Patterns on the Daily and Hourly are showing warning for the Bears and we may see a halt near 9100/9040/8960 levels .The 15 min is suggesting that any pullback should be limited to 9350/9425 levels and we would like to Sell near these levels if seen .

AUDUSD Closed @ 10550 which was well above the Open but mildly pulled away from the high on the Weekly and on the Monthly . Our price target of 10625-85/10770/10870 levels and the Bulls must protect 10505/10430 levels to support our Bullish view. The Oscillators on the Weekly and Daily indicates some strength while the Hourly indicates some weakness . The MA on the Weekly , Daily and Hourly indicates good support for the Bulls . The Patterns on the Daily and Hourly are suggesting that we may see a pullback lower soon but the downside may be limited .The 15 min is suggesting that the pullback lower may be limited to 10505/10465 levels and that can be an ideal entry point for the Bulls.

USDCAD Closed @ 9715 which was below the Open on the Weekly and on the Monthly but mildly pulled away from the low. Our price target of 9625/9590-50/9400 levels and no signs of a reverse. The Oscillators on the Weekly , Daily suggests more weakness to be seen but the Hourly suggest that we may see a pullback higher . The MA on the Weekly , Daily and the Hourly indicates no barriers for the Bears and we may get a free fall, the Bears need to protect 9820-45/9920 levels to support our bearish view. The Patterns on the Daily and Hourly are still supporting the Bears and the Bulls may find it difficult to crack the 9775/9845 levels .The 15 min is suggesting that the upside should be limited to 9745-75 levels that can be an ideal entry point for the Bears.

The Accuracy of the Long Term View may vary from the Weekly Projected Levels, so it is better to Pay attention to the Daily Report for more scrutinized view. Good Luck and Happy trading for the Week.