Tag: weekly technical outlook

Weekly Currency (Futures) Outlook – Jun 13 – 17

Weekly Currency (Futures) Outlook – Jun 13 – 17

Technical Analysis
Weekly Technical Outlook for the currency and commodity markets. Euro: After falling steadily for nearly four weeks, the euro retraced its gains the week before. However, last week saw prices testing the highs above 1.140 but failed to gain higher. As a result the euro fell, to close the week at $1.1298. The retracement to 1.140 this week marks a correction to the upside and we could anticipate near term weakness to continue. The next key levels to watch out for are 1.120 and 1.10. Resistance: 1.140 Support: 1.120 Sterling: The sterling remains capped within a range with last week showing prices breaking out lower. While the sterling closed Friday at 1.426, a 6-week low. Further downside is likely in the near term, with 1.42 coming in as the initial supp...