Check Out this Week's Pairs in Focus- Forex Forecast
initially tried to rally a bit during the week but struggled near the 200-Week EMA. By turning around the way we have, it looks like we are going to threaten the 1.09 level underneath. That being said, I think we are going to continue to see a lot of back and forth, as the ECB and the Federal Reserve both look like they are going to be tight with monetary policy. Furthermore, it’s August, so a lot of traders aren’t even going to be bothered.
On the other hand, if we were to break above the top of the candlestick for the week, I could open up a move to the 1.30 level after that.has shot straight up in the air during the course of the week, looking toward the ¥145 level. The ¥145 level is an area that has been resistant previously, and therefore it’s likely that we could continue to go even higher, perhaps reaching the ¥146.55 level, maybe even the ¥147.50 level.
Keep in mind that we're in the midst of earnings season, so the one thing you can probably count on is going to be a lot of volatility.
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