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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.

Dollar could gain more this week – Critical juncture on Index

Last week the dollar gained as the week ended with a significant move back to the resisting trend-line on the USD Index. I would say that price action above 77.45 is what could signal a change in trend. So expect further dollar strength in the next day or two and longer term if the price breaks out above 77.45.


USD Index – Bottoming



EUR/USD – Follow through to the downside is expected



GBP/USD – Some follow through tot the downside is expected



USD/JPY – Bullish engulfing candle would suggest follow through to the upside of this chart



USD/CHF – Neutral to bullish



AUD/USD – Highly overbought



NZD/USD – Bearish follow through expected



USD/CAD – Bottoming/bottomed?



EUR/JPY – Tough call as EURO should weaken some and JPY is a safety currency. However candle pattern suggests upside on this chart. – Neutral to short term bullish


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