*** Weekly Technical Analysis

EURO

The pair was able to breach the 61.8% correction at 1.4615 and maintained trading above this level which opened the way for further inclines on the medium term trend targeting the 76.4% correction at 15160. During this week, we see the pair on the daily charts trading within an overbought area which may result in a downside correction to retest the 61.8% correction confirmed by a bearish candlestick seen on the secondary image where the 10 day MA resides at the above mentioned correction which makes us believe the pair is to correct to the downside this week in an attempt to gather enough bullish momentum to rebound to the upside on the medium term trend supported by the 10, 20 and 50 MA alongside maintaining levels above the 61.8% correction and the key support for the bullish channel at the 50 MA at 1.4300.

The trading range for today is among the key support at 1.4300 and the key resistance at 1.5060

Support 1.4680 1.4615 1.4540 1.4470 1.4405

Resistance 1.4725 1.4760 1.4825 1.4860 1.4915

Recommendation Based on the charts and explanations above, our opinion is buying the pair from 1.4615 to 1.4915 and stop loss below 1.4405 might be appropriate this week.

Forex - Weekly Technical Analysis ( 21 September –27 September )

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GBP

The decline was halted after reaching the 127% correction as seen in the above image, where we see the current formation of a bullish technical pattern as seen in the secondary image, alongside breaching the key resistance for a downside channel which makes us believe the pair is to correct to the upside targeting the 38.2% correction at 93.05 as a retest. Momentum indicators started to adjust to the upside to support our overview which will be confirmed by the breach of the 23.6% correction at 91.95.

The trading range for today is among the key support at 88.85 and the key resistance at 94.65

Support 91.15 90.70 90.10 89.80 89.05

Resistance 91.95 92.30 93.095 94.00 94.65

Recommendation Based on the charts and explanations above, our opinion is buying the pair from 91.15 to 93.05 and stop loss below 90.10 might be appropriate this week.

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JPY

The trading range for today is among the key support at 88.85 and the key resistance at 94.65

Support 91.15 90.70 90.10 89.80 89.05

Resistance 91.95 92.30 93.095 94.00 94.65

Recommendation Based on the charts and explanations above, our opinion is buying the pair from 91.15 to 93.05 and stop loss below 90.10 might be appropriate this week.

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CHF

The pair neared the 76.4% correction where we see in the secondary image that the pair was able to form consecutive bullish candlesticks above the mentioned correction level which may result in an inline this week confirmed by the oversold signs on momentum indicators. Despite the medium term bearish channel, we believe the pair is to incline on the short term as a result of a rebound from the above mentioned correction. This incline remains valid as far as 1.0270 is intact.

The trading range for today is among the key support at 1.0130 and the key resistance at 1.0710

Support 1.0270 1.0230 1.0180 1.0130 1.0060

Resistance 1.0430 1.0495 1.0565 1.0660 1.0710

Recommendation Based on the charts and explanations above, our opinion is buying the pair from 1.0280 to 1.0565 and stop loss below 1.0180 might be appropriate this week.

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CAD

The bullish candlestick formation as seen in the secondary image alongside oversold signs and the upside adjustment on momentum indicators make us believe the pair is to correct to the upside this week. The bearish channel continues to pressure the pair on the intraday, short and medium terms where the key resistance for the channel is at 1.0885 which resides at the 50 day MA which makes us believe the pair is reverse to the downside after correcting to the upside in an attempt to breach 1.0500.

The trading range for today is among the key support at 1.0480 and the key resistance at 1.1145

Support 1.0750 1.0710 1.0660 1.0610 1.0500

Resistance 1.0840 1.0885 1.0980 1.1025 1.1145

Recommendation Based on the charts and explanations above, our opinion is selling the pair from 1.0840 to 1.0500 and stop loss above 1.0980 might be appropriate this week.