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    Weekly Technical Analysis Report Week 13/04/2015

    EUR/USD – Will the Pair Retrace Upwards this Week?

    The pair has been making attempts to escalate since the 13th of March, 2015. Based on last Friday’s data, the pair dropped once again toward lower levels. The bullish scenario has greater chances of prevailing this week.

    In the event that the bullish pressures overcome bearish ones the pair could rise as high as 1.1049, provided that there is a sufficient break above 1.0690 and 1.0864 levels.

    The stochastic oscillator confirms the bullish trend by indicating that the price is now oscillating at oversold levels, around 19.8068.

    Alternatively, a break below 1.0568 could force the EUR/USD toward the 1.0462 level and even lower.



    GBP/USD – Will the Pair escalate this Week?

    GBP/USD 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 1.4584.

    In the event that the bullish pressures overcome bearish ones the pair could escalate as high as 1.5163, provided that there is a sufficient break above the 1.4804 and 1.4938 levels respectively.

    The stochastic oscillator confirms the bullish condition by indicating that the price has for some time now stabilized at 19.8068, generating a strong support at this level.

    In contrast, a break below 1.4584 could be a strong indication that the pair can resume declining toward 1.4319 and even lower.


     

    Major Weekly Events

    Date

    Time (GMT)

    Event

    Currency

    Monday, April 13 , 2015

    02:00

    China - New Loans (Mar)

    CNY

    Tuesday, April 14 , 2015

    08:30

    United Kingdom - Consumer Price Index (YoY) (Mar)

    GBP

     

    08:30

    United Kingdom - Core Consumer Price Index (YoY) (Mar)

    GBP

     

    12:30

    United States - Retail Sales (MoM) (Mar)

    USD

    Wednesday, April 15 , 2015

    02:00

    China - Gross Domestic Product (QoQ) (Q1)

    CNY

     

    02:00

    China - Gross Domestic Product (YoY) (Q1)

    CNY

     

    11:45

    European Monetary Union - ECB Interest Rate Decision

    EUR

     

    12:30

    European Monetary Union - ECB Monetary policy statement and press

    EUR

     

    14:00

    Canada - BoC Interest Rate Decision

    CAD

     

    14:00

    Canada - BOC Rate Statement

    CAD

     

    15:00

    Canada - Bank of Canada Monetary Policy Report

    CAD

     

    16:15

    Canada - BoC Press Conference

    CAD

    Friday, April 17 , 2015

    12:30

    Canada - Bank of Canada Consumer Price Index Core (YoY) (Mar)

    CAD

     

    12:30

    Canada - Consumer Price Index (YoY) (Mar)

    CAD

     

    13:30

    United States - Consumer Price Index (YoY) (Mar)

    USD

     

    13:30

    United States - Consumer Price Index Ex Food & Energy (YoY) (Mar)

    USD

     

    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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