Forex Market ¨Technical Report of The Week Ahead¨

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XM/MT4 EUR/USD Daily Chart

The pair is at a strong 85 long, short trend, we can appreciate  a strong GAP formed during the weekend, apparently the GAP is making a weakness point of the current trend, at this point the price may look for a touch at the long term trend line, possibly at 1.3565, an old test point and then we must wait for a possible pullback.

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

Support 1 @1.3160 (09/09/2013)

Support 2 @1.3117 (10/09/2013)

Resistance 1 @1.3398 (August 08, 2014)

Resistance 2 @1.3617 (July 10, 2014)

XM/MT4 GBP/USD Daily Chart

As we predicted during last weeks, the price has now touched the long term EMA, we can wait for a reversal movement for the next hours but the current trend confirmation is almost a fact, we recommend to stay alert for direction changes and cover your orders at the first opposite signal.

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

Support 1 @1.6570 (Apr 07)

Support 2 @1.6479 (March 21)

Resistance 1 @1.6728 (August 18)

Resistance 2 @1.6815 (August 12)

XM/MT4 USD/CHF Daily Chart

Contrary to EUR/USD currency pair, the USD/CHF is currently testing an important historic level @ 0.9760 during a strong long term trend, we can see a similar GAP and movement compared to EUR/USD pair, we can wait for a reversal movement searching for a touch @ the long term trend line @ 0.9070.

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

Support 1 @0.9024 (August 15, 2014)

Support 2 @0.8970 (July 18, 2014)

Resistance 1 @0.9160 (Jan 21, 2014)

Resistance 2 @0.9226 (Nov 11, 2013)

XM/MT4 USD/JPY Daily Chart

The price is finally breaking the top of a 150 days horizontal channel, we´re not able to confirm the continuation of the long trend until the price passes the 104.55 level of Jan, 22th, at this moment, the traders must be looking for long trading with a target @ 105.27, last year´s highest point reached.

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

Support 1 @103.25 (March 11, 2014)

Support 2 @102.60 (June 05, 2014)

Resistance 1 @104.51 (Jan 21, 2014)

Resistance 2 @104.22 (Jan 02, 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.

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