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GBPCAD forecast 1June 2016

GBPCAD is undergoing a huge correction. The price holds between 38.2 and 50% correction near the 200SMA on a weekly chart. It's expected that GBP will further fall in an expection of brexit. In contrary CAD might fall supported by a decline in oil prices. This will result in GBPCAD reaching the 50% fibo retracement at 1.79. Further it can either sit at this level for some time or rebound to a nearest resistance level which is the current price level of 1.82-1.835.
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USDJPY 1st June 2016 forecast

USDJPY is in a clear down trend despite continuing monetery easying. as of 19 Apr the price sits at a 200 EMA on a weekly chart. On a monthly chart the next support level arises at 106.6 and a next technical support at 105. The expected price action is that the price follows its down trend until 1June and will pierce the support line at 105 and come back to the 0.382 fibo line at 106.6. Further in the year the price might fall to the 50% retracement at 100.6.
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Elens94 avatar
Elens94 6 Dec.

Good analysis!

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