weekly analysis

Week 20 May 2019

 Forex Weekly Technical Analysis

EURUSD Daily Chart

 

GBPUSD Weekly

 

Gold

weekly technical analysis XAUUSD Daily chart

 

week 27 May 2019

EURUSD Daily Chart

If we look at price 1.1260 level, bears took their turn and weakened at 1.1240 level. Then bulls took over and made a full-fledged strong bullish candle and remained strong. It seems bulls are still there as per bullish candlesticks and price are in retracement and bulls may continue to go up to 1.1260 level which is strong support as per down trendline and support lines are touching each other at the same point.

EURUSDDaily chart- Technical Analysis

GOLD  Daily Chart

As you might know gold goes opposites of EURUSD.If EURUSD goes up, Gold goes down. Last week Gold went up to 1283.0 level and very next day it did not cross that level.If we look at the weekly chart, it shows us that there is a strong bullish candle but the price is at some range for several weeks. Anyway, despite strong bullish candle, I am looking to sell gold this week as bulls are losing force on the daily chart and look helpless to go above 1283.0 level.

XAUUSD Daily Technical Analysis

 

GBPUSD Daily Chart

In forex trader’s language, GBPUSD is also called or known as Cable.

The cable also follows EURUSD footsteps. As per last week candlesticks, it formed strong bullish candles but on Monday (today) price is in retracement mode.

As this pair is in a strong downtrend as per monthly and weekly chart but bulls may take control and they should this week but who know!

USDCAD Daily Chart

Canadian Dollar/USD is following uptrend trendline very beautifully, look at how it is respecting its trendline. Price closed and open pretty much at the same level last week. But last week candle was formed Harami which indicates that bull will ride the market this week.

USDCAD Daily Technical Analysis

Good Luck for this trading week! I will come up with some setups this week if the market shows me any sign this week.