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Weekly Trading Forecasts for Major Pairs (May 1 – May 5, 2017)

Here’s the market outlook for this week: Content courtesy of Tallinex Limited https://www.tallinex.com‌

EURUSD

Dominant bias: Bullish

Last week opened with a massive gap-up that also affected other EUR pairs. Price reached the resistance line at 1.0950 then consolidated until the end of the week. The gap created a bullish bias that will not last long as weakening is expected this week. With resistance lines at 1.1000 and 1.1050, the support lines at 1.0900, 1.0850 and 1.0800 will be tested this week.

USDCHF

The post Weekly Trading Forecasts for Major Pairs (May 1 – May 5, 2017) appeared first on forexarabicnetwork.com.

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