Technical Analysis of EURUSD Weekly Time Frame
The pair closed with a pin tailed candle last week. This week price has moved up but has yet to close.
Next upside target at the 1.1450 region. A move beyond that might target the 38.2% Fib level at 1.17835.
On the downside, we have the 1.0445 zone as a support level.
A break below that might push this pair lower towards 1.04.
Technical Analysis of GBPUSD Weekly Time Frame
The pair closed with a bearish red candle last week.
This week price has tried to move up after hittin the 23.6% Fib level which is acting as support at the moment.
On the upside we have first resistance at the 38.2% Fib level at 1.5568 followed by 1.58 area which acted as strong resistance in the past.
On the downside, we have 1.456 zone as support. A break lower will open up doors for a move towards 1.45.
Technical Analysis of AUDUSD Weekly Time Frame
The AUDUSD is still clearly trading within a down trend channel. 0.7528 is acting as support.
The 15EMA is acting as resistance at the moment and we have top side resistance at 0.8222 followed by a resistance at a higher level at 0.8647.
Technical Analysis of USDJPY Weekly Time Frame
The pair is in a tear and has clearly broken above its resistance at 121.675.
Above we have the 112.7% Fib level which is at 127.306. At the current level, and if we scroll to the left of the chart, we can see that current levels have been a resistance zone. So we need to be cautious if we are trading on the bull side for this pair.
On the downside we have the 121.675 resistance now turned support as a level to watch.