By Ronald Fallas
Bermúdez (@davefbtrader)
Analysis of the week ahead on foreign exchange market of the most traded pairs
Is the EUR/USD
still going down or will it recover from the down fall the last week?
The
EUR/USD is testing the 1.36 level and according most of the analyst it depends
of how much pips the pair will advance during the first hour of this new week,
if the price goes under 1.355 it would be a confirmation that the long term
trend is changing it direction and the price probably find a support at 1.348.
On the other side if the price goes over 1.365 we will be in presence of a
confirmation of the continuation of the current trend where the price probably
go to 1.375 until it find a strong resistance level.
We are in
front of two different and strong scenarios based in technical analysis but we
can keep in mind a couple of facts that are the current strength of the United
States economy and the weaker conditions of the Euro Zone, that is an important
aspect to count with before taking a trading decision.
Also the other
most important pairs as the AUD/USD, NZD/USD, USD/CAD can be affected by these
USD conditions, with the USD/JPY following the last mentioned pairs.
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