Forex Technical Analysis by Camilo R. (July 20-25)

 

Good opportunities for entry next week. Forex Weekly Technical Analysis based on the Support, Resistance levels, Trend lines, EMA. (Forex weekly forecast by Camilo R.)

Helpfull links: Real Time Forex Charts (Live), Forex Economic Calendar news (Live)

EUR/USD Weekly Forecast

click picture to enlarge

Monthly Chart:

month

At monthly chart we have two things to care about, two trend lines. As we can see the price touched the downtrend line some months ago, if the price keep doing the same he had done since 2008 now he will fall.

Weekly Chart:

week

The weekly chart show us a uptrend line and the EMA72 as support. It’s a strong support area but some pips above the monthly downtrend line holds the price.

Daily Chart:

day

At daily chart we see a downtrend line and a horizontal support at 1.3500. So we have two ways to interpret the price. The pair may keep doing the same he has doing since 2008, touching the monthly downtrend line and falling until the last low, to confirm this movement the pair must close a daily candle bellow 1.3500. Or the price will respect the strong area of support where we is now and break the daily downtrend line to keep moving up.

 

SILVER Weekly Forecast

Monthly Chart:

month

At weekly chart we can see the silver price is falling since 2011. There is a downtrend line and a support area at 18.50 to care about.

Weekly Chart:

week

At the weekly chart we can see a support area around 26.35.

Daily Chart:

day

The daily chart the price is failing to create new tops this show us a clear downtrend. There is a support area around 20.50 and a resistance area some pips above the price. If the price break the level bellow is a good opportunity to sell SILVER until the last low.

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