up

Pages

Forex Trading Tips - Week ahead of Jun 9, 2014

EURUSD

  • EURUSD dropped to 1.35 before getting back to 1.36
  • MACD and Slow Stochastics turning higher 
  • Key resistance is at 1.3675
After a quiet start, EURUSD became volatile on Thursday due to ECB announcement. MACD and Slow Stochastics turned higher. Now the bias is more bullish heading into next week. A Break above the 20-day EMA and previous-support-turned-resistance 1.3675 is possible. Further gains to 1.3750 is also on the cards

GBPUSD

  • GBPUSD moved back almost to last week's broken bullish line
  • MACD still is bearish 
  • This week’s outlook depends on breaking the trend line resistance around 1.68
GBPUSD consolidated during early last week before moving higher on Thursday. Key resistance is now on the previous 6-month bullish trend line. MACD is still showing bearish momentum, while the Slow Stochastics have bounced back to neutral territory. The outlook for next week depends on breaking the trend line  at 1.6800. If the pair can break that, a move toward 1.6900 or even 1.7000 is possible this week. If that resistance is not broken, then a move towards 1.6700 is a strong possibility.

- By our Forex Order Management  research team. You can use the 'Forex Order Manager' along with any manual or  automated forex trading systems to maximize your benefits.