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  • Squawk / 17 May 2015 at 7:59 GMT
    Senior Analyst /
    Saint Vincent and the Grenadines
    Weekly Trading Forecasts on Major Pairs (May 18 - 22, 2015)

    Dominant bias: Bullish
    Against all odds and contrary expectations, EURUSD went further upwards last week. From around the support line at 1.1150, price went upwards towards the resistance line 1.1450 (a movement of at least, 300 pips). The next targets for the bulls are located at the resistance lines at 1.1500 and 1.1550. In the meantime, any bearish corrections in the market would be taken as opportunities to buy long when things are on sale and in the context of an uptrend.

    Dominant bias: Bearish
    The existing bearish bias, owing to the weakness of USD, and further expectation of considerable stamina in CHF this week, would help keep USDCHF under selling pressure.

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