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  • Squawk / 23 July 2016 at 21:20 GMT
    Senior Analyst /
    Saint Vincent and the Grenadines
    Weekly Trading Forecasts on Major Pairs (July 25 - 29, 2016)

    Dominant bias: Bearish
    This pair consolidated to the downside last week, moving south by only 100 pips and closing above the support line at 1.0950 on Friday. There is a “sell” signal in the market and price might test the support lines at 1.0900, 1.0850 and 1.0800 this week, because USD is expected to gain some stamina. Most major pairs did not move significantly last week, but movements in the markets this week would be stronger than the movements last week.

    Dominant bias: Bullish
    Last week, USDCHF was able to maintain its bullishness despite constant threats from bears. Price did not go upwards strongly but it is now above the important support level of 0.9800. There is a major obstacle to bulls, located at the resistance level of 0.9900. Bulls have carried out failed attacks into that resistance level, and they are yet to give up doing that.

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