*** Weekly Technical Analysis

EURO

The pair inclined, as expected, last week but couldn't maintain a bullish momentum; resulting in a reversal to the downside to retest 1.4615, which remains intact and perhaps may cause an upside movement. However, we see the possibility of forming a bearish technical pattern if the pair fails to breach 1.4760, supported by momentum indicators that are showing bearish signs to support the decline to breach 1.4615, representing the neckline for the bearish pattern. Although the medium term trend is still to the upside, we expect the pair to decline this week as far as 1.4760 is intact.

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

Support 1.4680 1.4640 1.4615 1.4540 1.4470

Resistance 1.4740 1.4760 1.4825 1.4860 1.4915

Recommendation Based on the charts and explanations above, our opinion is selling the pair from 1.4740 to 1.4470 and stop loss above 1.4825 might be appropriate this week.

Forex - Weekly Technical Analysis ( 28 September – 4 October )

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GBP

The Cable declined as expected, despite the high volatility witnessed last week, where we believe the pair is to continue decline yet might engage in an upside correction, as the key support for the bearish channel is at 1.5910 and the oversold signs seen on momentum indicators may force the pair to correct to the upside before reversing back to the downside; targeting the 100% expansion, seen in the image above.

The trading range for the week is among the key support at 1.5500 and the key resistance at 1.6490

Support 1.5910 1.5825 1.5765 1.5700 1.5625

Resistance 1.6035 1.6105 1.6150 1.6220 1.6360

Recommendation Based on the charts and explanations above, our opinion is selling the pair from 1.6105 to 1.5860 and stop loss above 1.6220 might be appropriate this week.

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JPY

The USD/JPY pair failed to complete the expected correction, as it declined after reaching 92.00. We see a current support level at 89.40; whereas, momentum indicators are starting to show oversold signs which may result in an upside correction, yet at the same time, the medium term trend remains to the downside. With these mixed signals, are advise is to remain cautious, yet as far as 88.75 is intact, the upside correction remains valid.

The trading range for the week is among the key support at 87.20 and the key resistance at 93.05

Support 89.40 89.05 88.75 88.05 87.90

Resistance 90.10 90.70 91.15 91.95 92.30

Recommendation Based on the charts and explanations above, our opinion is buying the pair from 89.40 to 90.70 and stop loss below 88.40 might be appropriate this week.

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CHF

Up to this moment, the pair couldn't alter the trend at 1.0180, where we still hold our outlook for a possible upside correction. However, note that any daily closing below the level mentioned above, will result in a vigorous decline. Trading above 1.0285 is crucial for the uptrend to continue.

The trading range for the week is among the key support at 1.0000 and the key resistance at 1.0565

Support 1.0215 1.0180 1.0130 1.0060 1.0000

Resistance 1.0320 1.03601 .0430 1.0495 1.0565

Recommendation Based on the charts and explanations above, our opinion is buying the pair from 1.0230 to 1.0430 and stop loss below 1.0130 might be appropriate this week.

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CAD

After nearing 1.0840, the pair declined to reach the 1.0660 support level before rebounding back to the upside to breach the key resistance for the bearish channel, where it is currently trading above the 50 day MA at 1.0850; making the 1.0840 level a pivot point for this week. Any trading above this level will continue the uptrend in correctional movements; targeting the 100 MA at 1.1105.

The trading range for the week is among the key support at 1.0540 and the key resistance at 1.1360

Support 1.0840 1.0750 1.0710 1.0655 1.0600

Resistance 1.0980 1.1025 1.1105 1.1145 1.1245

Recommendation Based on the charts and explanations above, our opinion is buying the pair from 1.0840 to 1.1105 and stop loss below 1.0700 might be appropriate this week.