G14 OUTLOOK FOR THE WEEK 21 JAN - 27 JAN

The main events for the week ahead are the announcements from the Bank of Japan on Monday and the IFO and ZEW economic date on Tuesday and Friday respectively which will have an impact on EURUSD

EURUSD: The pair technically remains in a strong uptrend. However it shows some signs of exhaustion lately. Maybe this week we see the last leg of the recent uptrend move up to 1.35. A critical support remains 1.3245. If this brakes then we may see a further sharp correction to 1.3035. 

EURJPY:   The pair is in a bullish frenzy run. It has broken the psychological 120 level but failed to close the week above. The main resistance remains 123 however it may consolidates between 117-120 before testing it

EURAUD: The pair is taking advantage of the rise in euro. Bullish bias but it hasn’t yet managed to establish a strong uptrend. In order to do that it needs a break and close above 1.2705

EURCHF: The pair has finally start trading higher reaching 1.25 level. It has established a strong uptrend and it is expected to go higher testing the 1.30 level

USDCHF:   The pair is starting to build an uptrend momentum due to CHF weakening. However the rise in the EURUSD is an obstacle and we may see a small correction before strong uptrend is established

GBPUSD:  The pair has finally broken the psychological 1.60 level and now is in clear sell mode. Expected to go lower

USDJPY: The star of the recent weeks. Managed to close above 90 levels. However I expected to see a correction (not lower 85.50 level) in the following days since the pair is strongly overbought

AUDUSD: The indicators for this pair are bullish. However the pair has failed to rise in the previous days. Not a clear picture