August 14, 2011

Weekly Currency Forecast for 15 – 19 August, 2011


There is a strong resistance level on 1.4253. If it can break this level it is more likely to go up to around 1.4450(23,6 fib and the trend line) and or higher. If it can’t break the 1.4253 resistance the price will go down to around 1.4010 or lower. The strongest levels those may oppose are: 1.4452, 1.4253, 1.4013, 1.3906, 1.3750, in this levels may be correction of the price. It is difficult to predict this week.
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(Current Price: 1.4249)


$GBPUSD it is difficult to predict and so I will write the most possible scenarios. Here we go There is a resistance level at 1.6315, if the price breaks this level then it will go high to around 1.6570 and if it can’t break this level(more likely) the price will go down for a while to 1.6100 or lower. And the news will play it’s role on giving the direction to the movement, in that case watch the real-time news and follow me on twitter to catch some of fresh ideas and signals, and subscribe to my blog for daily currency forecast. The Support/Resistance levels are: 1.6725, 1.6575, 1.6475, 1.6315, 1.6104 and 1.5933.
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(Current Price: 1.6275)

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