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Weekly Scenario in Forex Market
|Currency Pair||Analysis for the week: 16 th March to 20 th March 2015|
|EUR/USD||Overall Trend is bearish,uptrend should end around 1.0931 - 1.1081 area. A correction down to 1.0650 - 1.0520 is expected. A rise above 1.1342 will abort the expected correction.|
|GBP/USD||It should trade lower to 1.4787 or 1.4382 region, while 1.5053 - 1.5193 offer resistance. Clear break of levels around 1.5445 will damage this bearish view.|
|GBP/JPY||It may attempt a test higher to 180.46 - 181.11 after which weakness may set it to a drift down to below 177.34 limit. Jpy is strong as per current market scenerio.|
|GOLD||It should trade higher to 1199.09 while 1170.18 or 1164.80 offers support. Stop loss below 1154.66 zone.|
Currently uptrend should end around 0.7820 - 0.7884 area. A correction down to 0.7683 - 0.7628 is expected. A rise above 0.7994 will abort the expected correction.