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Weekly Forex Forecast for 9 – 13 January 2017

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Weekly Forex Forecast for 9 – 13 January 2017

Weekly Forex Forecast for 9 – 13 January 2017
January 09
10:00 2017

EUR / USD – EURO US DOLLAR

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The currency pair EUR / USD grew till the level 1,0625. Before the publication of the employment data from the USA, the US dollar dropped in price.

The employment rate dropped to 156 000 in comparison with the previous value of 204 000.

The unemployment level grew till 4,7%, the value corresponds with the forecasts.

The currency pair EURUSD left the maximum levels. The correction till the level 1,0700 is still possible, though.

RSI shows that the pair is moving away from the support level.  A new period of the growth for the US dollar is expected within the range 1,06350 – 1,0680.

 

GBP / USD – BRITISH POUND DOLLAR

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The currency pair GBP / USD grew till the maximum level during the last month. After the publication of the employment data, the market is again managed by bears.

The reports on the business activity of Great Britain showed the growth. The inflation is growing as well.

The currency pair GBPUSD passed the resistance level, 1,2350. But bulls haven’t managed to keep their positions.

RSI indicates that the ascending trend changed its direction. The British pound continues recovering its positions.

Most likely, the quotations will grow . The main target is at December maximum. Though, if dollar manages to stabilize at the level 1,2300, the descending trend may develop.

 

USD / JPY – US DOLLAR JAPANESE YEN

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The currency pair USD / JPY is trying to keep its positions after it passed the level 116,1. If this level is done, the ascending trend may develop.

If January minimum levels are reached again, traders can count on the correction movement.

Then the next targets will become 114,7 and 113,45.

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2 Comments

  1. Stepan
    Stepan January 09, 12:59

    Your weekly Forex forecast is informative, thanks. Let’s continue to monitor the movement trend of the main currencies

    Reply to this comment
  2. Ekaterina
    Ekaterina January 09, 13:15

    The US dollar has been strengthening for a long time, so a slight wave of correction has to be expected sooner or later.

    Reply to this comment

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