EUR/USD (1.2342) – Weekly Forecast
Trading range: 1.2210 – 1.2395
Trend: Neutral
The effect of G7 meeting and the expectations control of the dollar by IMF will be temporary. The speculations are the moving factor on the market last week and during the coming week will continue to be dominating by the rumors and speculations for Fed’s Interest rates expectations. The most important fundamental events during the coming week are Fed’s Beige Book on Wednesday, Consumer Confidence, Durable Orders, GDP-Adv and others. Technically the level of 1.2395 is forming as key resistance and break above will open the trading for levels above 1.25 during the coming month.
USD/JPY (116.59) – Weekly Forecast
Trading range: 115.50 – 118.90
Trend: Neutral
As overall during the coming week the yen will be trading into neutral direction. First we could see movement downward to 116 levels and fast recovery above 117. We recommend trading within the trading range during the coming week.
Forecast by Angel Kolev, expert in ForexStrategy Team - For more forecasts and signals visit - www.forex-strategy.com
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