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Currency Rates Forecast – Analysis of Forex Trends

currency rates forecast
Forex Trends – Currency Rates Forecast: week 7/08/12 – 7/13/12

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

 
EUR/USD: The downtrend is slowing down.

At this point technical indicators showing that the recent downtrend is very much alive but likely to slow down in the next couple days. The pair looks a little bit oversold below 1.2250. It means the chances are we will see a small rally (50-70 pips) prior to the price resuming its way south.

The “bigger picture” is bearish at this time. Again, the indicators suggest that the downtrend is still here just slowing down. Possibility of low volatility is significant for the next couple days.

Range between 1.2200 and 1.2350 is likely for this week – oversold condition below 1.2200 and overbought above 1.2350.

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

Update 07/12/12: So far no major surprices and the price behaves as pretty much expected. The downtrend is picking up some steam for now. The price is just below 1.2200 and likely to fall more before the end of the week.

Learn how Forex Technical Analysis works

 

GBP/USD: The downtrend is slowing down.
 
The pair lost more than 250 pips since the last Tuesday. It looks oversold a bit below 1.5480 so we can see a small rally in the next couple days. The price likely will rise above 1.5500 prior to heading back south. It can hang in the vicinity of 1.5500 for a little. Volatility likely to stay relatively low in the next couple days. Range between 1.5400 and 1.5550 is likely for this week. The longer outlook has not changed and still is bearish at this time.
 

Update 07/12/12: No major surprises here as well, so far the outlook has not changed. A rally as a part of downtrend was predicted correctly.

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USD/CHF: Uptrend is slowing down.
 
The pair gained about 300 pips during the last week. Indicators point that the uptrend is likely to slow down. The pair likely looks overbought above 0.9750 – so the chances are we will see a very modest dip back to this level. 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 still bullish at this time.
 

Update 07/12/12: No major surprises until now, so far the outlook has not changed.
 
 

USD/CAD: Sideways action likely.
 
No signs of a new uptrend yet so the chances are the same sideways action will continue next week. The price likely to hang in the vicinity of 1.0200 for a while and likely will stay within 1.0150 – 1.0250 for the next week. The longer outlook is still bearish at this time.

Update 07/12/12: No major surprises here. Some weak indications of a potential forming downtrend.

 


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