Weekly Forex Analysis for the Week of July 8th until July12th, 2013

Trend for the Markets Remain Strong

This week is important for the markets. If the trend stays its course then further strength in the dollar index could extend the weakness of some of the actively traded FX pairs. Among the currencies that investors and traders are watching this week are the EUR/USD, GBP/USD, AUD/USD and USD/CHF.  Aside from the currencies, the indices also remain hot games with the Johannesburg Stock Exchange (JSE – SEP13), S&P500 (SP- SEP13) and the Nikkei (NK – SEP13) in focus. Crude Oil (CL – AUG13) appears to have some more upside, though it seems good for a counter-trend scalp trade. Given the technicals, it’s going to take quite a surprise to change the sentiment among market participants. This could come in the form of words from US Fed chairman Bernanke, ECB president Trichet or from the Bank of Japan press conference. The necessary ingredients for this change are certainly present this week.

Technial Trading Plan for the week of

July 8^th until July 12^th, 2013

EUR/USD

 

RESISTANCE	R1:  1.28309	R2:  1.28962	R3:  1.29198
SUPPORT	S1:  1.28128	S2:   New Lows	R3:  New Lows

USD/JPY

 

 

RESISTANCE	R1:  101.70	R2:  101.87	R3:  103.211
SUPPORT	S1:  100.92	S2:    99.951	R3:   99.437

 USD/ZAR

RESISTANCE	R1:  10.32751	R2:  New Highs	R3:  New Highs
SUPPORT	S1:  10.09684	S2:  9.95587	R3:  9.84481

 XAU/USD – GOLD

RESISTANCE	R1:  $1,223.38	R2: $1,239.84	R3:  $1,256.99
SUPPORT	S1:  $1,217.99	S2: $1,190.22	R3:  New Lows

S & P Futures

 

RESISTANCE	R1:  1,630.83	R2:  1,631.10	R3: New Highs
SUPPORT	S1:  1,217.99	S2:  1,190.22	R3:  1,621.20

 JSE – Johannesburg Stock Exchange

 

RESISTANCE	R1:  34,902.76	R2:  35,083.86	R3: 35,294.09
SUPPORT	S1:  34,609.68	S2:  34,566.00	R3: 34,201.24