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Weekly Forex Technical Analysis, Jun 26 – Jun 30, 2017
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The U.S. Dollar posted a two-sided trade last week, but still managed to eke out a small gain. However, the weak close on Friday suggests that downside
The U.S. Dollar posted a two-sided trade last week, but still managed to eke out a small gain. However, the weak close on Friday suggests that downside momentum may be building.
Early in the week, the dollar was driven higher by the previous week’s hawkish interest rate decision and monetary policy statement. Several Fed speakers also issued hawkish commentary about the direction of interest rates. However, weaker-than-expected economic data weighed on the bullish sentiment, driving down U.S. Treasury yields, thereby making the U.S. Dollar a less-desirable investment.
In the week ahead, investors will be focus on US durable goods orders on Monday, US GDP data on Thursday, Japan CPI and UK GDP on Friday.
EUR/USD
Floor Pivot Points
3rd Sup |
2nd Sup |
1st Sup |
Pivot |
1st Res |
2nd Res |
3rd Res |
| 1.1043 | 1.1081 | 1.1137 | 1.1175 | 1.1231 | 1.1269 | 1.1325 |
Fibonacci Retracement Levels
0.0% |
23.6% |
38.2% |
50.0% |
61.8% |
100.0% |
| 1.1119 | 1.1141 | 1.1154 | 1.1166 | 1.1177 | 1.1213 |
GBP/USD
Floor Pivot Points
3rd Sup |
2nd Sup |
1st Sup |
Pivot |
1st Res |
2nd Res |
3rd Res |
| 1.2373 | 1.2481 | 1.2598 | 1.2706 | 1.2824 | 1.2932 | 1.3050 |
Fibonacci Retracement Levels
0.0% |
23.6% |
38.2% |
50.0% |
61.8% |
100.0% |
| 1.2589 | 1.2642 | 1.2675 | 1.2701 | 1.2728 | 1.2814 |
USD/JPY
Floor Pivot Points
3rd Sup |
2nd Sup |
1st Sup |
Pivot |
1st Res |
2nd Res |
3rd Res |
| 109.64 | 110.18 | 110.70 | 111.24 | 111.77 | 112.31 | 112.83 |
Fibonacci Retracement Levels
0.0% |
23.6% |
38.2% |
50.0% |
61.8% |
100.0% |
| 110.72 | 110.97 | 111.13 | 111.25 | 111.38 | 111.78 |
EUR/JPY
Floor Pivot Points
3rd Sup |
2nd Sup |
1st Sup |
Pivot |
1st Res |
2nd Res |
3rd Res |
| 122.79 | 123.22 | 123.83 | 124.27 | 124.88 | 125.32 | 125.93 |
Fibonacci Retracement Levels
0.0% |
23.6% |
38.2% |
50.0% |
61.8% |
100.0% |
| 123.65 | 123.90 | 124.05 | 124.18 | 124.30 | 124.70 |
GBP/JPY
Floor Pivot Points
3rd Sup |
2nd Sup |
1st Sup |
Pivot |
1st Res |
2nd Res |
3rd Res |
| 137.24 | 138.54 | 139.94 | 141.23 | 142.63 | 143.93 | 145.32 |
Fibonacci Retracement Levels
0.0% |
23.6% |
38.2% |
50.0% |
61.8% |
100.0% |
| 139.84 | 140.47 | 140.87 | 141.18 | 141.50 | 142.53 |
This post was originally published by EarnForex
About the Author
Andriy Morarucontributor
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