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    Weekly Technical Analysis Report week 06/04/2015

    USD/CHF – Will the Pair Retrace to the Upside this Week?

    USD/CHF has been aggressively declining lower since the 12th of March, 2015. Based on last Friday’s data, the pair has a greater chance to retrace to the upside this week.

    In the event that the bullish pressures overcome bearish ones USD/CHF could rise as high as 1.0126, provided that there is a sufficient break above 0.9542 and 0.9880 level.

    The stochastic oscillator confirms the bullish trend by indicating that the price is now oscillating at oversold levels, around 20.1031.

    Alternatively, a break below 0.9476 could force the pair toward far lower levels, such as the 0.9179 zone.




    GBP/JPY – Will the Pair Escalate this Week?

    GBP/JPY has been declining lower and lower with no intentions whatsoever of retracing to the upside.

    Based on last week’s data, the pair has a greater possibility to retrace upwards from 176.45.

    In the event that the bullish pressures overcome bearish ones GBP/JPY could escalate as high as 181.79 and 182.76 respectively, provided that there is a sufficient break above the 178.49 level.

    The stochastic oscillator confirms the bullish condition by indicating that the price has for some time now stabilized at 41.7526, generating a strong support zone at this level.

    In contrast, a break below 176.45 could be a strong indication that the pair can resume declining toward 175.51 and even lower.


     

    Major Weekly Events

    Date

    Time (GMT)

    Event

    Currency

    Monday, April 06 , 2015

    14:00

    United States - ISM Non-Manufacturing PMI (Mar)

    USD

    Tuesday, April 07 , 2015

    04:30

    Australia - RBA Interest Rate Decision

    AUD

     

    04:30

    Australia - RBA Rate Statement

    AUD

    Wednesday, April 08 , 2015

    03:00

    Japan - BoJ Press Conference

    JPY

     

    18:00

    United States - FOMC Minutes

    USD

    Thursday, April 09 , 2015

    11:00

    United Kingdom - BoE Asset Purchase Facility (Apr)

    GBP

     

    11:00

    United Kingdom - BoE Interest Rate Decision (09 Apr)

    GBP

     

    Please note: The content in this weekly market analysis should not be taken as investment advice. It comprises our personal view.

     

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