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  • Weekly / Long-Term Forecast

    Weekly / Long-Term Forecast, February 5 - 9

    EURUSD

    Weekly forecast, February 5 - 9

    currency fundamental

    Market conditions
    EUR/USD have more chances to continue uptrend to the next strong resistance level 1.2800 and for this scenario we have next conditions:
    1. Pair is trading above main support level 1.2300;
    2. EU Core CPI recovered from 0.9 to 1;
    3. Negative for Euro is that Manufacturing PMI in US on the same level 55.5, when EU dropped from 60.6 to 59.6, but this level is still high, so its not enough for market to break down current uptrend in EU PMI index and market need more time to see PMI changes in negative side.
    4. EU GDP increasing from 2.6 to 2.7;

    Technical forecast
    The market is trading along an uptrend with target on 1.2800, that may be expected to continue, while market is trading above support level 1.2300.
    An downtrend will start as soon, as the market drops below support level 1.2300, which will be followed by a move down to support level 1.2180 and 1.1900.

    eurusd


    Long-Term Forecast, from 29/01/18

    The market is trading along an uptrend with target on 1.2800, that may be expected to continue, while market is trading above support level 1.2300. And if it keeps on moving up above 1.2800 we may expect the market to reach resistance level 1.3500.
    An downtrend will start as soon, as the market drops below support level 1.2300, which will be followed by a move down to support level 1.1900.

    eurusd weekly chart



    GBPUSD

    Weekly forecast, February 5 - 9
    The market is trading along a sideways trend between support 1.3975 - 1.3900, where uptrend will start as soon as the market rises above resistance level 1.4310, which will be followed by a move up to resistance level 1.4600.
    An downtrend will start as soon, as the market drops below support level 1.3900, which will be followed by a move down to support level 1.3500.

    gbpusd


    Long-Term Forecast, from 29/01/18

    The market is trading along an uptrend with target on 1.4600, that may be expected to continue, while market is trading above support level 1.3900.
    An downtrend will start as soon, as the market drops below support level 1.3900, which will be followed by a move down to support level 1.3500.

    gbpusd weekly chart forecast




    GOLD

    Weekly forecast, February 5 - 9
    While EUR/USD still trading above level 1.2300, gold have a target on resistance level 1394.

    The market is trading along a sideways trend between support 1321 and resistance 1365, where uptrend may be expected to continue in case the market rises above resistance level 1365, which will be followed by reaching resistance level 1394.
    An downtrend will start as soon, as the market drops below support level 1321, which will be followed by a move down to support level 1295.

    gold

    Long-Term Forecast, from 29/01/18

    The market is trading along a sideways trend between support 1321 and resistance 1350, where downtrend will start as soon, as the market drops below support level 1321, which will be followed by a move down to support level 1270.
    The uptrend may be expected to continue in case the market rises above resistance level 1350, which will be followed by reaching resistance level 1394.

    gold daily chart

    CRUDE OIL

    Weekly forecast, February 5 - 9

    wti fundamental

    Market conditions
    Seems, that after a few weeks of trading on current levels oil market will drops down to first support level 60.00 and for this we have next conditions:
    1. Difference between oil supply and demand is became very low, just 300K barrels and with current temps of world production will be covered very soon, may be during one month;
    2. Same time inventories is already started increasing and became positive, that is signal of near term oil oversupply;
    If after a few weeks inventories will continue their uptrend, oil market start downtrend to 60.00.

    Technical forecast
    The market is trading along a sideways trend between support 64.50 - 63.40, where downtrend will start as soon, as the market drops below support level 64.50 - 63.40, which will be followed by a move down to support level 61.50 and 60.00.
    The uptrend may be expected to continue in case the market rises above resistance level 66.20, which will be followed by reaching resistance level 68.30 and 70.00.

    oil


    Long-Term Forecast, from 29/01/18

    The market is trading along an uptrend with target on 70, that may be expected to continue, while market is trading above support level 60. And if it keeps on moving up above 70, we may expect the market to reach resistance level 78.
    An downtrend will start as soon, as the market drops below support level 60, which will be followed by a move down to support level 54.50 and if it keeps on moving down below that level, we may expect the market to reach support level 46.40.

    oil daily

    Natural Gas

    Weekly forecast, February 5 - 9

    gas fundamental

    Market conditions
    Market is already replayed as season weather cycle, as very strong production, as technical picture and already trading near main support level 2.750 – 2.640. Inventories on the next week is expecting to be over same levels, as previous, so market can start some sideways trading, so I think that more possible market will be trading just technically without any fundamental surprises, as we had a few weeks before.

    Technical forecast
    The market is trading along a sideways trend betwee support 2.750 and resistance 2.880, where downtrend may be expected to continue in case the market drops below support level 2.750, which will be followed by reaching support level 2.640.
    An uptrend will start as soon as the market rises above resistance level 2.880, which will be followed by a move up to resistance level 3.000.


    Long-Term Forecast, from 29/01/18

    The market is trading along a downtrend with target on 2.750, that may be expected to continue, while market is trading below resistance level 3.300.
    An uptrend will start as soon as the market rises above resistance level 3.300, which will be followed by a move up to resistance level 3.700.

    by Anton Kolhanov

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