FOREX- My weekly trade analysis for major currency pairs October 10 - 14.

byFxBinaryOpt

1.1K followers

Updated 7 years ago

This past week saw a solid drop in GBP and affected related currency pairs. I would suspect there to be more drops in the future, although the GBP will eventually rebound.

Also this past Friday was NFP and we saw a large number of sharp ups and downs in just a matter of minutes which indicates a wide range of market instability.

EURUSD - This past week saw a series of ups and downs, with a general consensus leaning towards a bearish market. NFP, however caused a huge spike in price which leaves leaves one to wonder how this coming week will fathom.

EURUSD - Neutral

GBPUSD - This past week saw a steady decline in price with Thursday and Friday showing the strongest drop due to economic fears of a recession. It has seemed to, however, hit a strong level of support and is beginning to go back up. Watch for this coming week to see an increase in price after NFP.

GBPUSD - Bullish

USDCHF - This past week saw a steady, gradual climb with Friday hitting a strong level of resistance. Watch this coming week for a strong gradual decline in price.

USDCHF - Bearish

USDJPY - The past 2 weeks have seen a strong gradual increase in price with this NFP causing a sudden drop in price after hitting a strong level of resistance. I would watch for the price to continue to drop this coming week.

USDJPY - Bearish

USDCAD - This past week saw a strong, gradual climb with Friday hitting a strong level of resistance. Watch this week for a gradual decrease in price.

USDCAD - Bearish

AUDUSD - This past week has seen a gradual decrease in price with a series of ups and downs, with the week ending by hitting a strong level of support. We also have a doji candle on the daily chart for Friday which indicates that the price will reverse and go back up.

AUDUSD - Bullish

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