Forex BlogTechnical Analysis

Weekly Forex Analysis EURUSD, GBPUSD for 06 Feb to 10 July, 2020

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Sharing our weekly analysis of forex market and showing you how we are trading on these currency pairs: EURUSD, GBPUSD, XAUUSD etc. Today I’m going to share fundamental, technical and sentimental analysis with latest charts.

We can analyze the suitable currency pair to trade in coming week based on price action, breakouts and trends etc.

EUR/USD Technical Outlook

It seems that EURUSD will break its channel as predicted one week before.

The resistance for EURUSD is 1.1270/1260 area and this level may be a critical point. Bulls should keep looking daily close. When ever price cross this area then price may go more higher. 

And for now support area of EURUSD is 1.1150 to  1.1170 area. 

GBP/USD Technical Outlook

GBPUSD price rise in last week from 1.2250 t o1.2260 area. 

As last week we keep aye on 1.2240 support level. Bulls in GBPUSD should looking the closing price of daily candle. It price go above 1.2535 than price may go more high.

And next level according to channel is 1.2800 as for swing trade. 

On the other hand if price reverse again then support level for us is 1.2255.  

And most important if you are not sure about the market then it’s better to stay away and do nothing until the confirmation.

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