EUR/USD had quite a positive week closing at $1.2759 (0.39% gain). The pair had opened the trading week with a little loss that went on till Tuesday when it broke downwards the $1.2720 support. On Wednesday, however, the pair started correcting up till the week's end. Technically speaking, as long as this pair is traded below the nearest 1.2930 resistance, the trend is actually negative. Breaking the last low (1.2587) downwards would trigger continuance of the downtrend with the first destination being at $1.2520 and the last at 1.2370. On the hand, breaking the $1.2930 mark down would trigger a correction towards the 1.3 level.

GBP/USD

The pair had quite a mixed week that ended with a minor loss at $1.5526. The pair opened last trading with a loss breaking towards the horizontal support at $1.5520. On Wednesday, however, the trend reversed, staying around that support until Friday. Technically speaking, the pair broke for nothing, the fact is actually teaching us about the intensity of this support. The downward correction would be continued if there's a downbreak to $1.5372 with a destination at 1.5160. The 1.5170 area serves as a resistance breaking which would mean the end of the correction move and return to the upward move.


 

USD/CAD

The pair had a negative trading which closed at 1.0505. The negative move followed the sharp rising wave of early August. The pair was stopped last week by the CAD 1.0670 horizontal resistance for the third time since June. This level turns out to be a major resistance. If and when the dependable break occurs, the pair might start a short/medium term upward move with a first destination at 1.0850 and CAD 1.045 used as a support.