Weekly Major Forecasts (28 Oct - 01 Nov 2013)

EURUSD : With the key support 1.3740 intact , further upside couldn't be ruled out, but the pair needs to clear 1.3832 first( 61.8%) retacement of the big run 1.2042/1.4940, there's a risk of topping around this level , support comes at the 1.3740 levels, a break below this level will turn focus on the 1.3650 levels, further out will aim the 1.3472 levels, losing this level will confirm topping at 1.3832 and should open 1.3104 levels.

On the upside: to resume its upside offensive , sustained break above 1.3832 is needed,If seen, the pair will target 1.4025 ahead of 1.4280 levels.

GBPUSD : Initial bias is neutral this week , with the key support 1.6115 intact another rise is expected , resistance is at 1.3256 , sustained break would open 1.6380 ahead of 1.6440 levels, further out will aim the 1.6615 levels.

On the downside , support is at 1.6115, losing this levels would open 1.5983, losing this level will confirm topping at the 1.6259 and it will  have large bearish implication towards the 1.5426 levels.

USDJPY: The pair is neutral this week , resistance is at 98.20 levels, break of this level on a daily basis would open 99.33 levels , further upside will aim the 100.86 levels, break of 100.86 will challenge the 101.52 levels.

On the downside , stability below the 98.20 levels will keep the pair under pressure , losing 97.15 on a daily basis would open 96.56 ahead of 95.80, below 95.80 will target 93.78 levels.

AUDUSD : The pair is neutral this week , resistance is at 0.9757 levels, break of this level would open 0.9960 ahead of 1.0220  levels.On the downside , support comes at the 0.9528 levels, losing this level will confirm topping at the 0.9757 levels and It will open the 0.9280 ahead of  the 0.9115 levels.

Weekly Major Forecasts (28 Oct - 01 Nov 2013)

Views: 1661

Comment by Bero on October 28, 2013 at 11:21am

Haitham all these levels should be broken and closed on daily basis for more confirmation ???

Thank you ...

Comment by Haitham653 on October 28, 2013 at 12:46pm

Yes Bero daily basis...

Comment by Bero on October 28, 2013 at 12:50pm

okeyy Thank you so much Haitham ...:)

Comment by Haitham653 on October 28, 2013 at 1:49pm

See the weekly chart below , so far the EURO was capped by 61.8% retracement of the big run 1.2042/1.4939 at 1.3832 levels, the pair needs to clear that level to open 1.4200 levels. otherwise there's a risk to back towards 1.3650/472 levels...but it needs to clear the key support 1.3742 first..

Comment by Bero on October 28, 2013 at 3:32pm

But haitham even if we have a daily close under 3742 maybe it's not safe to short the EU now especially we have tomorrow and after tomorrow important news in my view maybe we will have to wait after the FOMC and then we can take the right call ...

Best Regards ...

Comment by Haitham653 on October 28, 2013 at 3:51pm

I think the EURO may not break below 1.3740 or above 1.3832 before FOMC...let's wait and see..

Comment by Haitham653 on October 28, 2013 at 4:04pm

EURUSD bullish, resistance is at 1.3800, break of this level may expose 1.3832 and target 1.3870, stability below 1.3800 could mean a return to the 1.3740 levels...

Comment by Haitham653 on October 28, 2013 at 4:29pm

AUDUSD: the pair is under pressure , according to daily and weekly %R (Williams) , we have bearish divergence , main support comes at the 0.9280, losing this level on a weekly basis would open 0.8847 levels.On the upside, the pair will have to hold above the 0.9757 levels on a weekly closing basis, If seen, It will target 0.9960 ahead of 1.0220 levels...

Range for the upcoming weeks : 0.9280 - 0.9757

Comment by Haitham653 on October 29, 2013 at 7:23am

EURUSD is likely to make a huge move very soon (500 - 700) pips range , both sides (up and down ) are suggested , It depends on China, It has some critical issues , we'll find out - most likely - in the upcoming days...

Comment by Md.Masudur Rahman on October 29, 2013 at 8:22am

Please explain the china issue to understand the eurusd movement.

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