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Currency Rates Forecast – Analysis of Forex Trends

currency rates forecast
Forex Trends – Currency Rates Forecast: week 7/29/12 – 8/03/12

Currency rates forecast (weekly) – an overview of the forex trends for the past week with likely developments for the next week.

 
EUR/USD: The uptrend is here.
 

At this point technical indicators showing that the recent downtrend is no more – over for now. Signs of a new uptrend can be clearly seen presently. The pair gained about 300 pips during 3-day period from Wednesday to Friday. It retracted a bit from it’s 3-week high of 1.2389.

The “bigger picture” is bullish at this time. Again, the indicators suggest that the uptrend is here and picking up some steam. This means the chances are we will see a small dip (50 pips or so) prior to the price resuming its way north. So it is better to cover your position. Learn here how to hedge your forex spot position.

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Possibility of rising volatility is significant for the next couple days.

Range between 1.2400 and 1.2250 is likely for this week – oversold condition below 1.2250 and overbought above 1.2400.

Common indicators should be fairly accurate in pointing to the direction of the price on the hourly or shorter charts.
 

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GBP/USD: Uptrend is not very strong.
 

The pair gained about 300 pips during 3-day period from Wednesday to Friday when it started to look overbought a bit. It retracted a little off its 1.5767 high. Chances are we will see a small dip. The price likely will fall below 1.5700 prior to heading back north. It can hang in the vicinity of 1.5700 for a little. Volatility will likely to rise in the next couple days. Range between 1.5650 and 1.5800 is likely for this week. The longer outlook is bullish and the uptrend is not very strong at this time.
 

Currency rates forecast GBP/USD Update 08/01: A significant dip developed today on a shorter time-frame. The price fell to a low of 1.5522. It’s oversold a little below 1.5550. Too early to tell if the tide is turning already.
 

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USD/CHF: Downtrend is not very strong yet.
 

The pair lost about 250 pips during 4-day period from Tuesday to Friday. Indicators point to a likely rally, perhaps into vicinity of 0.9800. The price might hang around this level prior to heading lower. Downtrend is not very strong at this time. For the next week the price likely to stay within 0.9700 – 0.9850 range, and unlikely to deviate very far from these levels. The longer outlook is bearish at this time.
 

USD/CAD: Downtrend.
 

New downtrend is here. The chances are the price will try to reach the parity where it likely to hang outfor a while. It likely will stay within 1.0100 – 0.9950 for the next week. The longer outlook is bearish at this time.

 

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Currency rates forecast – Analysis of Forex Trends

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