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From a theoretical point of view, it is likely that some upside potential could prevail in the market. In this case it is unlikely that the exchange rate could exceed the weekly PP at 1.0995.
However, note that the currency pair is pressured by the 50-hour SMA. Thus, the pair could decline along the lower channel line in the short run. If the given channel does...
The US Dollar will likely continue to edge lower against the Swiss Franc within this week's trading session.
The USD/CHF currency exchange rate could aim for the lower boundary of a descending channel pattern this week.
The New Zealand Dollar could edge higher by 150 basis points against the US Dollar within the following trading sessions.
Most likely, the 200- period SMA could continue to provide support for the NZDUSD pair.
The common European currency will most likely continue to edge up against the Japanese Yen.
Bullish traders will likely aim for about 280 basis points profit.
However, beware of the resistance level at 122.60.
The common European currency will likely gain strength against the British Pound within the coming weeks.
The currency exchange rate edge higher by about 350 basis points during this period.
However, the EUR/GBP pair has to surpass a resistance level formed by the 21-DAY MA at 0.8483.
The British Pound surged by 420 basis points against the US Dollar during the early hours of Friday's trading session.
The UK general election played an important role in the overall movement of the currency pair. Boris Johnson won the UK Parliamentary election and most likely, Brexit will happen by 2020.
By and large, the GBP/USD currency exchange rate might make...
The common European currency is likely to continue gaining strength against the Japanese Yen during the following trading sessions.
The EUR/JPY exchange rate could edge higher by 250 basis point in the nearest future.
The US Dollar will likely gain strength against the Euro during the following trading sessions.
A potential 220 basis points decline for the EURUSD pair before the runs out of this month's trading sessions.