May 15, 2011

Weekly Currency Forecast for 15–20 May, 2011

Pair broke the trend line from June 2008 and it is more likely to continue it’s way downwards. The levels that price will reach are: 1.4050, 1.4009, 1.3935, 1.3863, 1.3800 and lower. The strongest levels those may oppose are 1.40, 1.39 and 1.38, in this level may be correction of the price.
(Current Price: 1.4105)


$GBP couldn’t break through the level 1.6739 and rashly started falling down. It is more likely to go downwards after a little correction  to levels: 1.6162, 1.6100, 1.6020, 1.5978 and maybe lower. But there are strong supports in 1.60 and 1.59, in this levels price will go up a little and then continue its fall.
(Current Price: 1.6189)

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