A-FX Forex Weekly analysis 27.05 – 31.05.2019

DXY: Technical Forecast: Bullish

Last week we saw consolidation and after the small bullish move, DXY decline and made good retracement. We are still bullish at long-term, but due to the Fed announcement, we can see greater consolidation.

Our Important levels are:

  • Expect Bearish move from Resistance zone 1 – 98.140
  • Expect Bullish move from Support zone 1 – 97.522
  • Expect Bullish move from Support zone 2 – 97.367

EUR/USD: Technical Forecast: Bearish

Last week EUR/USD decline after short term consolidation at the beginning of the week. After a big aggressive decline at Thursday and take out the liquidity below 1.11108, EUR/USD rise at Friday and reach one of our Resistance Zones. From the fundamental side, we have a lot of news because today are EU election and from the beginning of the week a lot of speculation about Europe Union politics will begin. The problem with the UK remain and that can be another reason to see weak EUR. The expectation for Brexit without the deal rise and this is not good for the EU economy.

Our important levels are:

  • Expect Bullish move from Support Zone 1 -> 1.11570
  • Expect Bullish move from Support Zone 2 -> 1.11400
  • 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 declined aggressively after a small consolidation earlier this week. We saw a nice adjustment on Tuesday, but then the market returned and continued to fall. At Friday, Prime Minister Theresa May’s announcement that she is stepping down from 10 Downing Street, the pound rise, but for us, it is like a calm before the storm. Because of this, and because of the growing expectations for Brexit without a deal, we remain Bearish at least for the upcoming week. We expect an aggressive bullish move, but only for stop hunt and liquidity run

Our important levels are:

  • Expect Bearish move from Resistance zone 1 – 1.27695
  • Expect Bearish move from Resistance zone 2 – 1.29106
  • Expect Bearish move from Resistance zone 3 – 1.30084
  • Expect Bearish move from Resistance zone 4 – 1.31040
  • Expect Bullish move from Support zone 1 – 1.26880

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