EUR/USD Weekly Technical Analysis:
EUR/USD remains in downtrend. In August last two weeks we have seen Eur weakness nearly 300 PIPS and close near to our support Zone of 1.3163 to 1.3131 level. In short term time frames showing some bullish divergense, we can expect some bullish run in short term.
In medium term aspect we can expect more weakness in EURO. If 1.3131 level breaks below on coming weeks we could expect another 300 pips rally on EUR/USD to the next support level of 1.2834.
In September month we can expect more weakness on EURO.
GANN Support and Resistance Levels:
S3
|
S2
|
S1
|
R1
|
R2
|
R3
|
1.2595 - .2563
|
1.2834
|
1.3131 - 3163
|
1.3407
|
1.3558
|
1.3710
|
GBP/USD Medium Term Technical Analysis:
GBP/USD pair showed some impulse move from last year JULY '13 to this year JULY '14. Lot of technical analyst are still BULLISH on this pair. As per our point of view GBP/USD going to side ways for remaining months of 2014.
After continuous five week weakness this pair breached the support of 1.6713 last week and close below this support level. Due to Bullish pressure on this pair Opening of this week above 1.6713 support level. We need to close look at this week close, If close of this week below 1.6713 level we can expect 1.6480 level as next target.
The most preferable scenario is GBP/USD pair on Neutral.
Note: The above levels are GANN support and Resistance levels.
EUR/USD Medium Term Technical Analysis:
EUR/USD remains in downtrend. Last two weeks this pair supported by 1.3346 and send pair to side ways. There is lack of bullish signal in short time frames. As long as 1.3346 resistance level breaks we can expect further downside upto 1.3250 and 1.3163 levels.
The most preferable scenario is 1.3250 level gives strong support and send the pair to north.
Note: The above levels are GANN support and Resistance levels.
USD/CHF Medium Term Technical Analysis:
USD/CHF remain in uptrend for couple of weeks. This pair approaching the resistance level at 0.9150 to 0.9180. As long as this resistance level breaks and weekly close above this level we expect further upside.
The most preferable scenario is 0.9150 to 0.9180 level gives strong resistance and send the pair to south.
Note: The above levels are GANN support and Resistance levels.
