Forex Market ¨Technical Report of The Week Ahead¨

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XM/MT4 EUR/USD Daily Chart

The pair is showing a strong short trend with a possible reversal point @ 1.3357 searching for a target @ 1.3455 marked by the long term trend line, next to this level we must wait for a continuation pattern.

These are the most important support and Resistance levels for this week:

Support 1 @1.3455 (30/07/2014)

Support 2 @1.3255 (07/30/2013)

Resistance 1 @1.3531 (June 19, 2014)

Resistance 2 @1.3692 (July 01, 2014)

XM/MT4 GBP/USD Daily Chart

We continue watching the price breaking the long term trend line and moving closer to the long term EMA, at this point is not rare to wait for more shorts along this week.

These are the most important support and Resistance levels for this week:

Support 1 @1.6561 (Apr 04)

Support 2 @1.6479 (March 21)

Resistance 1 @1.6900 (May 23)

Resistance 2 @1.6976 (May 13)

XM/MT4 USD/CHF Daily Chart

The price is at the beginning of a possible long and strong rising trend, a big negative candlestick is pointing at a possible return of the short movement, but until this happens we must wait for the price to hit the long term trend line and get back to the long trend.

These are the most important support and Resistance levels for this week:

Support 1 @0.8911 (July 11, 2014)

Support 2 @0.8866 (July 01, 2014)

Resistance 1 @0.9090 (Aug 04, 2014)

Resistance 2 @0.9229 (Nov 11, 2014)

XM/MT4 USD/JPY Daily Chart

Last weeks we´ve been following an horizontal movement that now has 149 days long and things seems to keep that way, the price is currently dancing over the long term EMA, without finding a defined direction, for the moment we must trade between the top and bottom of the channel expecting for a reversal pattern or a continuation of the last trend direction.

Technical Opinion

Horizontal channel with estimated top @ 102.90 and bottom @ 101.19

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.

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