Majors Weekly Forecast Mar 20 2017

EURUSD, Bullish Eyes The 1.0900 Levels...GBPUSD Continues To Consolidate...USDJPY, Bearish Despite Recovery Attempts...

Majors -987456-min
A collection of major currencies...

EURUSD, Bullish Eyes The 1.0900 Levels…

As long as 1.0600 support holds on a weekly closing basis, the EURUSD remains on the upside to the 1.0900 levels, a halt is likely and a reversal may occur, but a break would open 1.1050 levels ahead of 1.1200 levels.

On the downside, below 1.0600 is likely to consolidate within 1.0495/1.0340 levels before the next rising….

Conclusion: The EURUSD continues to face upside threats above the 1.0600 levels in medium term forecast. (Note: minors support comes at the 1.0685 levels)…

blankGBPUSD Continues To Consolidate…

As long as 1.2000 support holds on a weekly closing basis, the GBPUSD remains in a recovery mode and further upside could be seen in GBPUSD, but recovery above 1.2000 should be contained well by the 1.3120/1.3532 levels where fall resumption is likely, below 1.2000 will restore the downside momentum and turn the focus on the 1.1800/1.1600 levels…

blankUSDJPY, Bearish Despite Recovery Attempts…

As long as 115.18 resistance holds on a weekly closing basis, the USDJPY remains on the downside to the 110.85 levels, a halt is likely and a reversal may occur, however; below 110.85 will open 108.75 ahead of the 106.72 levels before the next rising.

Above 115.18 will recapture the 118.69 levels.

Conclusion: The USDJPY continues to face downside threats below the 115.18 levels in medium term forecast…(Minor resistance 113.55)…

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