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Weekly FOREX Forecast (22th August – 26th August 2022)

#EURUSD
Suggests an attempt to develop a slight correction and test the resistance area near the level of 1.0195. Where should we expect the pair to continue falling in the Forex market to the area below the level of 0.9385. An additional signal in favor of the decline will be a test of the resistance line on the relative strength index, note that there have already been many rebounds and price drops from it. Cancellation of the fall option for the Euro/Dollar will be a strong growth and a breakdown of the level of 1.0765. In this case, we should expect the pair to continue to rise with a potential target at the level of 1.1055.

#GBPUSD
Suggests an attempt to rise and test the resistance level near the area of ​​1.2125. Where should we expect the currency pair to continue falling with the target above the area of ​​1.1035. An additional signal in favor of the decline will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling the Pound/Dollar pair will be a strong growth and a breakdown of the level of 1.2655. In this case, we should expect the pair to continue to rise with a potential target above the level of 1.2975.

#USDJPY
Suggests an attempt to test the support level near the area of ​​131.55. Where should we expect the pair to continue rising to the area above the level of 152.65. An additional signal in favor of the rise will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option for the pair will be a decline and a breakdown of the level of 126.05. This will indicate a continued decline in the pair with a potential target below the 121.45 area.

#NZDUSD
Suggests an attempt to test the resistance level near the 0.6375 area. Further, the continuation of the fall of the NZD/USD pair to the area below the level of 0.5645. An additional signal in favor of the fall will be a test of the trend line on the relative strength index (RSI). Cancellation of the pair’s fall option will be a strong growth and closing of NZD/USD quotes above the level of 0.6825. In this case, we should expect a continuation of the rise with the target above the level of 0.7075.

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