• +1-949-335-4314

Capital Street BancClear Corporation

Option Banque is a brand owned and operated by Capital Street BancClear Corporation Limited with registered address Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, SVG.

  • Suite 305, Griffith Corporate Centre Beachmont, KingsTown Saint Vincent and The Grenadines

  • +1-949-335-4314

  • support@optionbanque.com

  • Monday-Friday: 6.00 AM
    4.00 PM GMT

USDCHF, GBPUSD, USDJPY Weekly Technical Analysis: 3 Aug to 7 Aug -

    • Home
    • General
    • USDCHF, GBPUSD, USDJPY Weekly Technical Analysis: 3 Aug to 7 Aug
Aug, 03rd 04:21

USDCHF

Dominant bias: Bullish  

Despite the fact that bearish attempts caused the support levels at 0.9550 to be tested a few times last week, USDCHF was able to maintain its bullishness. Since the support level at 0.9550 has become a strong barrier to bearish effort, it would be safe to assume that the bullish outlook on the pair will remain valid as long as price is able to stay above that support level.

The resistance level at 0.9700 is also a big challenge to bulls, for price could not break above it last week in spite of sincere effort by the bulls. A break above that resistance level would thus result in a smooth continuation of the extant bullish trend. The outlook would go bearish as soon as the support level at 0.9550 is breached to the downside.

GBPUSD

Dominant bias: Neutral

Cable has not been able to go below the accumulation territory at 1.5450 or go above the distribution territory at 1.5650 for weeks; therefore, the accumulation territory at 1.5450 and the distribution territory at 1.5650 could serve as boundaries for short-term swing trades.

In this week or next, price could move out of these boundaries, thereby giving way to a serious directional movement. In this month, GBP (and other GBP pairs) would most probably be weak in most cases, though there could be occasional bullish attempts on the way.

USDJPY

Dominant bias: Neutral

This currency trading instrument has been moving sideways since the middle of July 2015.  A break above the supply level at 124.50 could result in a Bullish Confirmation Pattern in the market, and a break below the demand level 123.00 could also result in a Bearish Confirmation Pattern in the market.

This month, it is highly possible that Yen would gain lots of strength, thus causing JPY pairs to tumble. The strength in the Yen may start before the end of this week, and therefore, it is possible that USDJPY will go below the supply levels at 123.00 and 122.00 this week or next week.

Option Banque has proven A+ Rating and Reviews on forex forums

Leave a Reply

Your email address will not be published.