Monday, September 1, 2014

Forex Market ¨Technical Report of The Week Ahead¨

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XM/MT4 EUR/USD Daily Chart

 EURUSD


We had very negative movements last week in the pair, as we can observe in the chart the Price is way down the long term trend line, we can detect an important support level @ 1.3120 of August, 2013, at this point and considering an extreme advance of the trend we may wait for a return of the Price to the trend line, maybe @ 1.3352, an important test zone of July, after that we must look for a continuation of the short movements.
These are the most important support and Resistance levels for this week:
Support 1 @1.3120 (August 09, 2013)
Support 2 @1.3166 (May 05, 2013)
Resistance 1 @1.3352 (August 08, 2014)
Resistance 2 @1.3490 (February 03, 2014)


XM/MT4 GBP/USD Daily Chart


GBPUSD

We can note that the Price is currently testing at the  level of the 250 day EMA as we predicted in last week report, we´re able to detect an old testing zone between the blue lines where the Price will probably moves during this week. As we have been announcing , if the Price crosses down the long term EMA, this would be a confirmation of a change of direction and automatically a short trading opportunity, if the Price goes up the blue lines it will probably look for a point at the yellow trend line and eventually a confirmation for long trading opportunities.

These are the most important support and Resistance levels for this week:
Support 1 @1.6560 (August 28)
Support 2 @1.6468 (March 24)
Resistance 1 @1.6812 (August 18)
Resistance 2 @1.6895 (May 21)


XM/MT4 USD/CHF Daily Chart


 USDCHF

As we predicted in last weeks, the Price crossed the long term EMA and confirmed the new trend, now the Price is about to test a reversal level @ 0.9190 of November, 2013, if the Price test this level it may look for a touch at a point marked by the long term trend line @ 0.9108 of January and then hopefully pull back to the next target @ 0.9350.
These are the most important support and Resistance levels for this week:
Support 1 @0.9118 (August 06, 2014)
Support 2 @0.9022 (August 18, 2014)
Resistance 1 @0.9227 (Nov 08, 2013)
Resistance 2 @0.9350 (September 11, 2013)



XM/MT4 USD/JPY Daily Chart


 USDJPY

The Price is still in the horizontal channel mentioned in last week´s report, and is now testing the top of the channel and about to cross it up to define the next direction of the trend, if the Price touches the top and return back inside the channel we must go short for a target @ 101.2, if the Price passes the top of the channel we must look for a target @ 105.25 of December 25th, 2012.

These are the most important support and Resistance levels for this week:
Support 1 @102.80 (July 31, 2014)
Support 2 @101.20 (July 15, 2014)
Resistance 1 @104.12 (August 27, 2014)
Resistance 2 @105.25 (December 02, 2013)
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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