DXY: Technical Forecast: Consolidation/ Bullish
Last week we saw strong dollar and how we several times mentioned on Friday, DXY pulls back and hit our support zone 1 at 97.700. The week ahead is very interesting because first at the beginning of the week we will see the PMI results for the US economy and for the EU and the UK too. At Friday we will see and NFP data and because of that, we expect consolidation at the beginning of the week and a lot of manipulation and spikes at the market. We expect and big volatility during all the week.
Our Important levels are:
- Expect Bearish move from Resistance zone 1 – 98.037
- Expect Bullish move from Support zone 1 – 97.574
- Expect Bullish move from Support zone 2 – 97.455
- Expect Bullish move from Support zone 3 – 97.523
EUR/USD: Technical Forecast: Consolidation/Bearish
Last week EUR/USD decline aggressive bearish but at Friday we saw some sort of retracement. For us, the long term trend is still bearish but we expect big manipulation and volatility during the upcoming week because we will see PMI data and Interest rates for the EU.
Our important levels are:
- Expect Bearish move from Resistance Zone 1 -> 1.11810
- Expect Bullish move from Support Zone 1 -> 1.11340
GBP/USD: Technical Forecast: Bearish
GBP/USD like EUR/USD last week decline aggressive but we do not saw good retracement. The problem with UK Parliament and Brexit still affect the GBP and we expect this thing to continue in the week ahead. We are still bearish long term GBP but because of our expectation for consolidating in EUR and DXY we will wait for some sort of retracement and after that, we can start to look again for short orders in GBP/USD.
Our important levels are:
- Expect Bullish move from Support zone 1 – 1.26143
- Expect Bearish move from Resistance zone 1 – 1.27086
- Expect Bearish move from Resistance zone 2 – 1.27261
- Expect Bearish move from Resistance zone 3 – 1.30084
- Expect Bearish move from Resistance zone 4 – 1.31040
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