Trading Support And Resistance - Sunday, July 25

10 and 20 us dollar bill

This week we will begin with our monthly and weekly forecasts of the currency pairs worth watching. The first part of our forecast is based upon our research of the past 18 years of Forex prices, which show that the following methodologies have all produced profitable results:

Let us look at the relevant data of currency price changes and interest rates to date, which we compiled using a trade-weighted index of the major global currencies:

Currency Price Changes and Interest Rates

Monthly Forecast July 2021

For the month of July, we forecast that the EUR/USD currency pair will fall in value, while the USD/JPY currency pair will rise in value. The performance to date is shown below:

Monthly Forecast July 2021

Weekly Forecast July 25

Last week, we made no weekly forecast, as there were no large counter-trend price movements in any important currency pairs or crosses.

We again make no forecast this week.

The Forex market saw a very low level of volatility last week, with not one of all the important currency pairs or crosses moving by more than 1% in value. Volatility is likely to increase markedly over the coming week.

Last week was dominated by relative strength in the Canadian dollar, and relative weakness in the Japanese yen, although the values are so small as to be effectively negligible.

Key Support/Resistance Levels for Popular Pairs

We teach that trades should be entered and exited at or very close to key support and resistance levels. There are certain key support and resistance levels that can be watched on the more popular currency pairs this week.

1 2
View single page >> |

Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.