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FX Weekly Report
The FX Weekly Report provides the latest, in-depth forex technical analysis about the FX market each week. By Pierre Charlebois.

Still Following AUD/USD and EUR/USD

Both the EUR and AUD appear to have put in long term tops and will now follow a Bearish path overall for the next few months.

EURUSD_Aug_3_ 08

 AUDUSD_Aug3_ 08

Having said that what I expect this week is to see consolidation and retracement takes place to offset the moves down. However on both pairs I expect a failed attempt at a new top and for a turn down to resume after some correction.

Cheers

Pierre

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