The Week Ahead Technical Report of Forex Market

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By Ronald David Fallas

XM/MT4 EUR/USD Daily Chart

The pair is dropping on a strong down trend of almost two months long and is now testing a horizontal support @ 1.3388, we may wait for a confirmation and a possible target @ 1.3466 if a reversal pattern is made. For a continuation of the current trend we should search for a minimal target @ 1.3366 of nov, 2013 support level.

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

Support 1 @1.3366 (11/2013)

Support 2 @1.3252 (08/2013)

Resistance 1 @1.3615 (10/2013)

Resistance 2 @1.3690 (June 27)

XM/MT4 GBP/USD Daily Chart

The pair is under a break of a 184 days positive trend and is searching for a cross at the long-term EMA, we´re actually watching a confirmation of a reversal level starting shorts @ 1.6929 with a first target @ 1.6696, the first support level since may.

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

Support 1 @1.6698 (May 29)

Support 2 @1.6476 (March 24)

Resistance 1 @1.6972 (May 07)

Resistance 2 @1.7167 (July 07)

XM/MT4 USD/CHF Daily Chart

After a break of a 166 days down trend, the price finally crossed the long-term EMA and it´s looking for a support level @ 0.8985 of Jan 13, then the price will probably returns to it rising trend and may find a first target @ 0.9131 of Oct 2013.

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

Support 1 @0.8912 (June 05)

Support 2 @0.8865 (July 01)

Resistance 1 @0.9131 (Oct 2013)

Resistance 2 @0.9223 (Nov 2013)

XM/MT4 USD/JPY Daily Chart

The USD/JPY pair is testing a resistance level @ 102.82 of a smooth down trend of 158 days and it´s looking for a first target @ 102.62 of July 16, however the down trend is apparently a secondary trend because the price is still up the long-term EMA, for that reason we must be careful for a continuation of the longer term trend.

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

Support 1 @101.38 (May 19)

Support 2 @100.96 (Feb 03)

Resistance 1 @102.76 (July 31)

Resistance 2 @103.93 (Apr 04)

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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