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As I have mentioned on my routine before. Usually before the market opens for the week, I’ll be flipping Daily and Weekly charts to see how it will look for the long run. Here, I present to you my studies for the week.

- GBP/USD

Chart on Daily and Weekly still shows the trend is upwards. But take note that there might be possible retracement as a Pin is on the 4 hour chart.

- USD/JPY

The dollar might still continue to slide against the yen as we see on weekly that the MACD might be reversing towards the oversold side and the 200EMA/SMA lines as well. The potential to break the trendline on the bottom is alot higher than the top.

- EUR/USD

This pair seems to be correlated very well with the cable since it’s still onwards the uptrend. We can just see probable retracements, but there should not be any big movements.

- AUD/USD

The Aussie is more prone to break the trendline on the bottom than the top. MACD is reversing for the daily chart and it might head towards the 200EMA/SMA direction.

- USD/CAD

Dollar is gaining ground against the Canadian dollar. There might be a reversal of trend (but ah well, this pair has been an oddball for quite awhile). The MACD is showing a reversal, and the price has pierced through the 1 hour chart for the 200EMA/SMA line.

If you have different opinions or have something to share with us, feel free to drop a message!

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