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  • Weekly / Long-Term Forecast

    Weekly / Long-Term Forecast, September 25 - 29

    LEADING INDICATORS

    econom

    Main news of this week:
    Wednesday: OIL - inventories
    Thursday: US - GDP
    Friday: GBP - GDP

    EURUSD

    Weekly forecast, September 25 - 29

    Euro zone economy still recovering: last week we have rising of Manufacturing PMI from 57.1 to 58.2 and Services PMI from 54.7 to 55.6. Same time dollar can’t show the same picture and Services PMI felt from 55.9 to 55.1. Looking on weekly chart, technically market now is going to get main resistance level 1.2237 and fundamental situation also confirm this, so seems that soon triangle on H4 will be broken up…

    The market is trading along a sideways trend between support 1.1857 and resistance 1.2028.
    An uptrend will start as soon as the market rises above resistance level 1.2028, which will be followed by a move up to resistance level 1.2237.
    An downtrend will start as soon, as the market drops below support level 1.1857, which will be followed by a move down to support level 1.1565.

    eurusd

    eurusd weekly chart



    GBPUSD

    Weekly forecast, September 25 - 29
    The market is trading along a sideways trend between support 1.3452 and resistance 1.3589.
    An uptrend will start as soon as the market rises above resistance level 1.3589, which will be followed by a move up to resistance level 1.3915.
    An downtrend will start as soon, as the market drops below support level 1.3452, which will be followed by a move down to support level 1.3135.

    gbpusd

    gbpusd weekly chart forecast





    GOLD

    Weekly forecast, September 25 - 29

    Market now is trading on main support level 1288 and while we have falling of dollar, gold have more chance to start from this levels uptrend, then to continue downtrend. Anyway, level 1305 is strong resistance and before its break up, market will be trading sideways between 1288 and 1305.

    An uptrend will start as soon as the market rises above resistance level 1305, which will be followed by a move up to resistance level 1346.
    The downtrend may be expected to continue in case the market drops below support level 1288, which will be followed by reaching support level 1268.

    gold

    gold weekly chart forecast

    CRUDE OIL

    LEADING INDICATORS

    oil econom


    Weekly forecast, September 25 - 29

    Technically now market is going in uptrend to the price 53.95 (weekly chart), but fundamentally we have production restoring and rising of inventories, that very soon should to push price down. And then we have 2 scenarios:
    1. Or market will continue very-very fast uptrend to the level 52.87 and then 53.95;
    2. Or break up of main resistance 49.70 was temporary and false, after that very-very soon we will have its re-break down with further downtrend to the support 47.05 and 41.40 (weekly chart).

    So:
    The market is trading along an uptrend with target on 52.87, where uptrend may be expected to continue, while market is trading above support level 50.33 – 49.70.
    An downtrend will start as soon, as the market drops below support level 49.70, which will be followed by a move down to support level 47.05.

    oil

    us oil wti weekly chart forecast

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