A-FX Forex Weekly analysis 20.05 – 25.05.2019

EUR/USD: Technical Forecast: Bearish


Last week EUR/USD decline after short term consolidation at the beginning of the week. We expect to see a continuation bearish trend, but first, we want to see short term Bullish move or consolidation at the beginning of the week. From the fundamental side, we can look at the problem with Austria parliament and division in Europe politic because of European elections. Our important levels are:

  • Expect Bullish move from Support Zone 1 -> 1.11540
  • Expect Bearish move from Resistance Zone 1 -> 1.12090
  • Expect Bearish move from Resistance Zone 1 -> 1.12388

GBP/USD: Technical Forecast: Bearish

Last week GBP/USD decline aggressive after small consolidation at the beginning of the week. From the technical side, we don’t saw any retracement and for that reason, we can expect bullish move at the beginning of the week before continuation bearish move. The problem with Brexit remain and PM May continue to lose trust from UK citizen. In the upcoming, we will see a lot of important news for GBP and the expectation is they to be weaker than expected which can help the GBP/USD to decline. For that reason our important levels will be:

  • Expect Bearish move from Resistance zone 1 – 1.29106
  • Expect Bearish move from Resistance zone 2 – 1.30084
  • Expect Bearish move from Resistance zone 3 – 1.31040

EUR/GBP: Technical Forecast – Consolidation

Last week we see aggressive bullish move in EUR/GBP without any retracement. We expect the market to consolidate or to make short term retracement until hit our first Support zone at 0.86260. Then we can start to look for Long orders.

  • Expect Bearish move from Resistance zone 1 – 0.88974
  • Expect Bearish move from Resistance zone 2 – 0.89860
  • Expect Bullish move from Support zone 1 – 0.86260
  • Expect Bullish move from Support zone 1 – 0.85730

EUR/JPY: Technical Forecast – Bearish

EUR/JPY is still at consolidation but we expect to see bullish move at the beginning of the week before the market hit our Resistance zone 1 at 123.240 and then to see an aggressive decline. We can see and much higher move but we believe we will not see EUR/JPY above 124.370 at least before the end of this month. How we mention early, the political problems in Europe around Europen elections continue and for that reason, we will look to sell EUR/JPY after short term bullish move.

  • Expect Bearish move from Resistance zone 1 – 123.240
  • Expect Bearish move from Resistance zone 1 – 123.990
  • Expect Bearish move from Resistance zone 1 – 124.368
  • Expect Bullish move from Support zone 1 – 122.650

GBP/JPY: Technical Forecast – Bearish

Last week GBP/JPY was aggressive bearish like GBP/USD and we will expect bearish trend to continue in the upcoming trading week.

Our important levels are:

  • Expect Bearish move from Resistance zone 1 – 140.570
  • Expect Bearish move from Resistance zone 1 – 141.580
  • Expect Bullish move from Support zone 1 – 139.490

If you want to learn more about Forex markets and how to trade like a Pro visit our https://angels-fx.com/courses

Risk Associated with Forex Trading Off-exchange foreign currency trading on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 
The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with off-exchange foreign currency trading and seek advice from an independent financial advisor if you have any doubts.