The Week Ahead Mar 28 -2015 - Written by Mohammed Isah

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USDCHF: Looks To Keep Recovery Tone

USDCHF: With USDCHF still facing recovery higher risk, a move higher could occur in the new (see daily chart) although closing lower the past week. On the downside, support comes in at the 0.9550 level. A turn below here will open the door for more weakness to occur towards the 0.9500 level and then the 0.9450 level. Conversely, resistance resides at the 0.9700 level with a breach targeting the 0.9750 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9800 level. All in all, the pair remains biased to the downside in the short term.

Daily Analysis

USDJPY: Bullish, Eyes Further Upside
USDJPY: Having ended its corrective weakness and resumed its medium term uptrend, further bullishness is expected in the days ahead. On further upside, the 90.50 level will be targeted followed by the 91.47 level and then the 92.00 level. On the downside, support lies at the 89.64 level with a cut through there aiming at the 87.86 level followed by the 87.00 level and then the 86.00 level. We expect a respite to occur here and turn back up but if this fails to occur further decline could develop towards the 84.17 level. All in all, USDJPY remains biased to the upside in the medium term.

Note:This is an excerpt from Pro Plan, our Daily 7-Currency Research Package covering EURUSD, GBPUSD, USDJPY, AUDUSD, EURJPY, EURGBP and USDCAD. Get The Full Package with Trade Alerts Including 3 FREE Bonuses Now



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