Welcome to the Ajaxsurf Market Review 1-5 August 2016, We have noticed the weakening of the dollar in the previous weeks the US Federal Reserve showed that it will not increase the interest rates as it was greatly expected this year that the Fed would rise the interest rates until BREXIT took place in the United Kingdom, this caused a lot of selling in the US dollar causing the the dollar quote pairs to rally but the question most financial analysts ask will be revealed on our first Forex weekly commentary.
The EUR/USD currency pair - Euro vs Dollar
The EUR/USD currency pair has been edging higher in from last week Wednesday as it was able to break through the 1.113 resistance zone and later today broke through the 1.1200 resistance level which has opened doors for price to edge higher to the 1.133 which according to our analysis is the last high level price will reach before dropping down again. I will recommend traders to look for price action sell signals at the 1.133 levels using the 4hr time frame. an large bearish move is very much expected in the EUR/USD but for now we are temporally bearish until price reaches 1.133 region and then we can hunt for selling opportunities.
The GBP/USD currency pair - Pound vs Dollar
Looking at the GBPUSD we are expecting a bullish move which will test the 1.35 intermediate resistance zone which will cause a rally downward which we should expect to happen this Friday during the Non-farm Payroll. this is indication of a positive result release confirmed using price, traders should look for pin bars to form on the daily chart of this currency pair. Today during the New York Session the Price was
The AUD/USD currency pair - Aussie vs Dollar
The next Major currency pair I will be looking at id definately the