Forex Technical Analysis of The Week Ahead (July 20-27)

EUR/USD

This week the pair is testing an important support, while maintain it down trend is necessary to be aware of a possible reversal pattern.

In the daily chart we can find these important support and Resistance levels:

Support 1 @1.3533 from June 12

Support 2 @1.3484 from Jan 29th

Resistance 1 @1.3675 from June 24th

Resistance 2 @1.3692 from June 4th

Observing the long period MA we can note that it´s still pointing a down trend but we must observe the next hours  movement to confirm a real continuation or a reversal movement.

GBP/USD

We can note in the long period MA a continuation of a very strong trend for this week ahead and also a possible no return point @ 1.7066, these are the most important support and resistance levels.

Support 1 @1.6975 from June 27th

Support 2 @1.7049 from June 20th

Resistance @1.7172 from July 28th

USD/CHF

This pair is in a current up trend, there is a possibility of a Resistance test @0.9007, we must be alert for any reversal pattern or a continuation of the trend.

Support 1 @0.8913 from July 04th

Support 2  @0.8867 from June 24th

Resistance 1 @0.9024 from June 02

Resistance 2 @0.9062 from Jan 29th

USD/JPY

We can appreciate a strong and healthy down trend, these are the most important daily support and Resistance levels:

Support 1  @101.17 from July 17th

Support 2 @100.98 from Jan 03rd

Resistance 1 @102.16 from July 7th

Resistance 2 @102.73 from June 5th