Market Analysis
EUR/USD was highly bullish last week and it has only continued that way during the start of this one. We are likely to see it staying in same range, but slightly dip is all very much likely scenario. It won’t be bad time to go for short trades here for quick gains.
GBP/USD has started the week in positive fashion. We saw it going down last week and there too we saw the week starting up in a very positive tone. So, it’s very much a finger crossed scenario for all whether this is going to continue or change. We are neutral for now.
USD/JPY continues in the negative zone, as we see the pair going down inside 110 levels. And it’s highly likely that we will continue to witness such move in days ahead. It will be a good opportunity to go for shorts if there is some recovery.
EUR/JPY finished last week on a positive note, but the start of this continued the way we have seen it go since last 1 month. We are unlikely to find any major recovery now. So it will be a very decent opportunity to go for shorts on any spot of recovery.
AUD/USD is dead down during the week. As we saw the week starting at near 0.7 levels, but went down nearly 150 pips to close out at 0.6870. It will be good opportunity to go for long trade here but overall trend still hints towards a major bearish mark.
USD/CHF was pretty high during the week as saw the pair getting up around 100-150 pips. It will be good opportunity to go for shorts here, as the bullish trend is extended too far. So, it will be good opportunity to go for quick gains via shorting it.
USD/CAD was absolutely high, as the pair got near 200 pips for the week. It started up from bearish zone last week, but this week everything was pretty cool from the early moment. It’s very much likely to continue in same tune ahead as well. So it could be good opportunity to go for long trade here.
NZD/USD was absolutely down this week. We saw the pair starting up from last week’s positive, but from the early hours, it was obvious that we are getting into a fairly good bearish trend. It’s highly likely that we will see all this continue ahead as well.
EU this week was fairly bullish as we saw the pair go high very fast but overall trend is not so smooth and that’s where and why we could see things turn around sharply. It will be a good time to go for sell but with tight money management.
GU this week started in bearish mode but took a turn to move towards bullish zone. But we are highly unlikely to see the trend hold up in upcoming week. So we will most likely see the pair go into bearish mode again, it for sure is a good time to go shorts.