FOREX WEEKLY TECHNICAL ANALYSIS FOR 25th-29th OF JUNE

Forex weekly Technical Analysis

� Review of last week market on the major pairs.� The Eur/Usd began last week with high opening @1.2694 but later dropped low to 1.2519 but closed @1.2569, Gbp/Usd and


1.2519 but closed @1.2569, Gbp/Usd and Usd/Jpy opened high and closed low while Usd/Chf opened low and closed high last week.

EUR/USD reached higher to 1.2746 initially last week but later turned sideway. Initial bias remains neutral this week. Note that with 1.2435 support still remains, corrective


with 1.2435 support still remains, corrective rebound from 1.2287 could still move higher.

Above 1.2747 will target 61.8% Fibonacci retracement of 1.3282 to 1.2287.Though, break of 1.2435 will indicate that such corrective rise is already completed


such corrective rise is already completed and will turn back to the downside for 1.2287 and below.

In the long term picture, EUR/USD turned into a long term consolidation pattern since reaching 1.6039 since 2008. The consolidation is still in progress and we consolidation is still in progress and we would expect some range trading to continue for some time between 1.1639 and 1.6039


� For long term traders, anywhere below 76.4% of Fibonacci retracement from 1.1639 to 1.6039 at 1.2677 could be treated as a buy zone while above 23.6% fibonaccizone while above 23.6% fibonacciretracement at 1.5001 is a sell zone.

� We look to Sell @1.2737 and buy @1.2282.


GBP/USD dropped sharply after initial rise to 1.5777 last week. But with 1.5475 little support remained in place, revise from 1.5268 could still trend higher. Above


1.5268 could still trend higher. Above 1.5777 will target to reach 61.8%fibonacci retracement of 1.6310 to 1.5269

Nonetheless, a break of 1.5475 will indicate that such reversal is already completed and depreciating from 1.6300 should then be starting for another low around 1.5268.


starting for another low around 1.5268.

USD/JPYLooking at USDJPY. This week we will Sell 80.95 and buy @79.15


@79.15

USD/CHF later recovered after initial drop down to 0.9421 last week. At this point, with 0.9650 little resistance still intact, correction from 0.9771 could extend lower. Below


from 0.9771 could extend lower. Below 0.9420 will target 61.8% retracement of 0.9041 to 0.9771 at 0.9320.

Though, break of 0.9650 will indicate that such correction is finished and should move back to the upside for 0.9781 and above.You may sell @0.9783 and buy @0.9448


You may sell @0.9783 and buy @0.9448

Though, break of 0.9650 will indicate that such correction is finished and should move back to the upside for 0.9781 and above.


above.You may sell @0.9783 and buy @0.9448


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FOREX WEEKLY TECHNICAL ANALYSIS FOR 25th-29th OF JUNE