here we are with comments to USD index price movements. As we mentioned in our USD index weekly review from 21.05.2017, now USD index found support at 96.80 and on the W1 time frame we see “pin-bar” pattern. So, if this pattern stay for the rest of this week it could be bulls sign for the future.
Let’s talk briefly about GBPUSD this week. Since Monday (22.05.2017) our traders sold GBPUSD already 7 times and earned +82 pips. We think that this pair could roll down to the strong support level at 1.29-1.2920, if support level at 1.2956 will be broken.
Let’s take a look to USD index (#USDX) for the next week 22.05-26.05.2017
According our market research we still have bearish pressure for USD index withsupport levels at 96.70 and 95.90
For the next 2 trading weeks we awaiting “pin-bar” on this price levels with probable pullback toresistance level at 97.90
USDCAD pair has a very volatile sessions this week (15-19.05.2017) with strong resistance level at 1.3645
ForexTeam is continuing to see some bearish pressure for USDCAD and yesterday we sold USDCAD with the next target at 1.3558 hopefully we reach price level 1.35
If we can break down below 1.35 handle, that USDCAD will break down from there!
according to ForexTeam short term market research, we can say with high probability, that this week USD Index (#USDX) will goes down slowly with small pullbacks to resistance level. Please, pay attention to the following price levels:
Resistance level = 99.20-99.30 Support level = 98.30-98.10
Probably,the same weekly bearish trend will be for the following forex pairs: USDCHF and USDJPY