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Weekly Scenario in Forex Market
|Currency Pair||Analysis for the week: 18 th May to22nd May 2015|
|EUR/USD||Uptrend is still intact in a triangle configuration. It should continue to rally to 1.1485 or 1.1563 if support around 1.1349 holds|
|GBP/USD||If Market stays below 1.5778 - 1.5906 it is more likely to fall further towards 1.5564 or 1.5479. Premature rise above 1.5906 could see it rising above 1.6075 zone.|
|GBP/JPY||One hunch down to 184.36 or 182.95 is anticipated while below 188.20 - 189.27 area. Stop loss above 191.04 zone.|
|GOLD||Current rise seems to be over near 1226.16 or 1235.86 for a retracement towards 1210.46 - 1202.09 area.|
Market is overbought short term, Current fall is near an end of wave around 0.7995 zone, a rally should then procede to above 0.8088. Fall below 0.7949 would cancel this scenario.