EURUSD DAILY CHART – WEEKLY FOREX OUTLOOK
Trend is up
1.1047 recent high is now key resistance blocking 1.1137. Use 1.1050 as well.
The weekly close above 1.10 is bullish but only a break/close above 1.1047 would extend the uptrend.
Look for a buy on dips bias as long as it trades 1.10_
USDJPY DAILY CHART – WEEKLY OUTLOOK
Trend is still down but…
A case can be made both ways:
- Upside risk while above 146,06
- Just a retracement after coming close enough to the 38.2% level at 149.43 (high was 149.39)
In any case, 148 will likely set its tone and dictate whether we see a break of 147.04 and a resumption of the downtrend..
While closing higher on the week, the close below 148 would be a potential bearish sign.
GBPUSD DAILY CHART – WEEKLY OUTLOOK
Failed to reverse to a downtrend by stalling above 1.2612. so let’s see what it would take to resume the uptrend.
The late break above 1.2937 leaves a void until the 1.3044 high so watch to see the break holds.
Look for support as long as it stays above 1,2880.
USDCAD DAILY CHART – WEEKLY OUTLOOK
Trading in the background and more of a laggard than a leader.
Top is in, can it reverse to a downtrend?
Current focus is on a range around 1,.37, which will dictate whether it can go after 1.3656 and below.
On the upside, back above 1.3740-50 would be needed to shift focus back to 1.38.
AUDUSD DAILY CHART – WEEKLY OUTLOOK
With the low in place and momentum building to the upside, target is ,6713 if .6645 can now hold as support.
In any case, expect support as long as it trades above .6600.
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