Weekly Outlook by AMZ Capital

[aibrahim]

Hello Everyone,
I will post weekly outlook here.
If you have any remarks or questions, please feel free to contact me.
Regards,
Aibrahim

[aibrahim]

EURUSD:

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EURUSD will look to rise initially during this week towards 1.2555 due to its low RSI. Once EURUSD take some retracement it will look to take a dip towards 1.2465 level and most traders will be aiming to capture this dip by EURUSD by selling on rise above 1.2550 level.
The trading range for this week seems between 1.2600 and 1.2450 levels.

GBPUSD:

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GBPUSD is setting itself up nicely for a good dip with the trend soon but initially it is expected to rise to 1.8684 level to complete its retracement and from there it will look to resume its long term trend and will head back to its next target around 1.8520
The best way to go with GBPUSD this week would be to sell around 1.8680 level for target around 1.8520

USDJPY:

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USDJPY completed its target at 119.80 last week and took a dip from that level as predicted.
Currently it heading towards 118.73 level from where it is expected to resume its upward trend again.
The trading range for USDJPY this week seems to stay between 120.25 and 118.70

USDCHF:

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Like all other currencies, USDCHF has also taken a nice move into its upward trend. But currently its RSI is on the higher side being above 68 which is pushing USDCHF downwards and currently it is heading below 1.2700 level and we might see USDCHF fall to 1.2560 level.
Most traders will look to buy USDCHF below 1.2650 level to capture its move towards 1.2750 which will also resume its upward trend.

[aibrahim]

EURUSD:

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EURUSD is moving nicely in its long term trend. currently it is just around 1.2555 level. EURUSD is looking to go towards 1.2450 level but due to low RSI, it is at the moment unable to break 1.2555.
We might see EURUSD bouncing from 1.2555 level few times before it has enough room for itself to break that level to target 1.2450
On the upper side it might again rise to 1.2637 level.

GBPUSD:

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GBPUSD is currently heading towards 1.8700 level and is expected to bounce back from that level to target 1.8860
Currently its RSI (Hourly charts) is on the lower side and we might see GBPUSD traded sideways for sometime to enable it to open up RSI.
Traders might aim to trade GBPUSD in range of 1.8600 and 1.8860 levels during this week.

USDJPY:

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USDJPY is moving nicely in its long term upward trend. It completed its long term retracement last week and has resumed in its upward trend for target above 120 level.
RSI is also placed nicely and traders will hope to buy USDJPY for anything below 119 level

USDCHF:

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USDCHF is currently looking to target 1.2739 level. RSI is also looking good in daily charts at 57.
Traders will look to buy USDCHF for dips below 1.2600 level for targets above 1.2700.
Break of 1.2700 level will set 1.2800 as next target level for USDCHF

[aibrahim]

EURUSD: EURUSD touched 1.2800 level last week and took a dip from that level. It took a rebound form 1.2700 level and is expected to take another move towards 1.2700 level and break of 1.2700 will set 1.2650 as next target. 1.2650 is more likely target at the moment. From 1.2650, we might see a rise in EURUSD again towards 1.2800 level. Currently most trader's emphasis will be on selling EURUSD for levels below 1.2700

GBPUSD: GBPUSD took a good rise above 1.9100 level and is currently looking to target 1.8880 level. Break of 1.8880 will set 1.8790 as next target for GBPUSD. Again traders will look to sell GBPUSD on rise to 1.9050 level for Targets below 1.8900 level. RSI is also looking very good and we might see some good moves by GBPUSD during this week.

USDJPY: USDJPY is currently targeting 118.95 level and we might see a drop by USDJPY from that level. On the lower side, it seems that the trading level will stay above 117.25 level and in case USDJPY drops to 117.25 level, we might see some sharp buying. RSI is also fine for moves in both directions and thus we might see USDJPY being traded between 118.95 and 117.25 levels during this week.

USDCHF: USDCHF is currently looking to target 1.2606 level. From 1.2606 we might see a dip by USDCHF towards 1.2442 level. Break of 1.2606 will set 1.2700 as next target for USDCHF. Therefore we might see some good buying in USDCHF during this week.