WEEKLY PRICE ACTION OUTLOOK

Hello everybody.

Here i come with the usual weekly trading outlook:

Eur/Gbp

This pair has finally broken to the upside the key resistance at 0.7960 area. For the next week you can expect a long signal right on the retest of this level to board this trend.

Eur/Usd

The euro has been strongly affected by the words of Draghi who has confirmed the rumors about the unlimited bonds purchase even if sterilized to prevent a possible rising inflation. Eur / Usd is now on resistance at 1.2820 area. We can wait a long signal at 1.2650 area. The most important level of resistance (after 1.2820) is 1.3000 area. This zone, if you take a look at the weekly chart, is the most important point to see bears come back to this market.

S&P 500

The index broke the resistance last week regaining stenght and going to make a new high, which was not touched for 4 years now. For the next week you can expect a long signal in the area close to 1.420.00. The new next resistance is at 1.460.00.

 

Xag/Usd – Silver

The silver spot has made a strong rally in the last two weeks mainly due to an expectation of QE3 by the Fed and the ECB Draghi’s words. So I would say to look for a long opportunity at $ 32.00 for the next trading sessions. If price continues to go down, the next support level is $ 31.00.

If you want to keep reading my in- depth outlook of the market you can access to my premium forex signal service and be part of my professional community and then become a true price action naked trader  subscribing to this link:
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