Monday, August 11, 2014

Forex Market ¨Technical Report of The Week Ahead¨

More Free Valuable Info, Trading Systems and Tools @ http://forexsolutions.tk/
XM/MT4 EUR/USD Daily Chart
EURUSD
The pair is now down the long-term EMA, and is now testing a support level @1.3385 of August, 2013, we are currently waiting for a reversal movement with a target @ 1.3476 marked by the long-term trend line, if this happens this would be the fourth consecutive touch of the trend line and a possible confirmation of a continuation of the down movement.
These are the most important support and Resistance levels for this week:
Support 1 @1.3385 (08/21/2013)
Support 2 @1.3254 (07/30/2013)
Resistance 1 @1.3639 (Jul 11, 2014)
Resistance 2 @1.3756 (Feb 19, 2014)

XM/MT4 GBP/USD Daily Chart
GBPUSD
We talked in our last week report about a break of the rising long-term trend and a possible strong reversal movement, well this is what is actually going on with the pair that apparently is searching for a lower target, maybe @1.6703, a support level of Apr 25th, 2014, the price isn´t crossing down the long-term EMA so we recommend to trade carefully because a pull back can occur at any time under this conditions and the rising trend can continue untill the next target.
These are the most important support and Resistance levels for this week:
Support 1 @1.6703 (Apr 25)
Support 2 @1.6476 (March 24)
Resistance 1 @1.6972 (May 07)
Resistance 2 @1.7167 (July 07)

XM/MT4 USD/CHF Daily Chart
USDCHF
The price just crossed the long-term EMA and after a reversal level is looking for a target @ 1.9042 marked by the long-term trend line, then the price will probably get back to the rising movements, by a rebound on the trend line with a next target @1.9117 level.
These are the most important support and Resistance levels for this week:
Support 1 @0.9001 (June 13, 2014)
Support 2 @0.8909 (July 11, 2014)
Resistance 1 @0.9092 (Aug 04, 2014)
Resistance 2 @0.9193 (Nov 13, 2014)

XM/MT4 USD/JPY Daily Chart
USDCHF
The price is now in the middle of a weak and almost horizontal down channel and just testing a support level @102.16 of  July 07, we recommend a careful trading over this level because the price´s still up the long-term EMA so there´s a chance of the price to get back to the long-term rising trend.
These are the most important support and Resistance levels for this week:
Support 1 @102.01 (Aug 07, 2014)
Support 2 @101.22 (Jul 18, 2014)
Resistance 1 @102.76 (Aug 04, 2014)
Resistance 2 @103.90 (Apr 04, 2014)
We hope this weekly report help you to determine the most important reversal and continuation levels during the week, this data is not 100% accurate as the speculative system is, these numbers are a reference and definitely not represent a secure trading signal service, make sure to use your own trading system in parallel with the attached report to determine your own entry points.
Forex Trading can be a great source of income but is also a high risk business, make sure to complete your training in demo before start trading with a real forex account and make sure that the money you invest comes from a secure source, we always recommend to avoid trading with money that you cannot  afford to lose.

No comments:

Post a Comment