Forex Market ¨Technical Report of The Week Ahead¨

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XM/MT4 EUR/USD Daily Chart

 

The pair is now under an aggressive negative trend marked by a 51 day continuous falling of the price, from our perspective and at least until the 1.2770 level there are no possible chances of the price to form a retracement figure, we can predict an aggressive continuation  for the first days of the week, then and according to the price movements we must wait for a change of direction or at least a try, while we´re getting close to the weekend.

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

Support 1 @1.2838 (May 20, 2013)

Support 2 @1.2773 (July 10, 2013)

Resistance 1 @1.2970 (September 15, 2014)

Resistance 2 @1.3157 (September 03, 2014)

XM/MT4 GBP/USD Daily Chart

 

The pair is under a 39 day down trend, we could appreciate an aggressive retracement during last week but at the end of it the price could finally recover it direction to form a pullback which sigh us a secure target @ 1.5901, an important support level of Oct, 2013, signal of this week for looking for deeper movements of the price.

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

Support 1 @1.6103 (September 09, 2013)

Support 2 @1.5916 (November 04, 2013)

Resistance 1 @1.6384 (September 19, 2014)

Resistance 2 @1.6601 (August 29, 2014)

XM/MT4 USD/CHF Daily Chart

 

During this week we can appreciate a massive acceleration of the the price movements the same way we analyzed with EUR/USD currency pair, the difference is that in this case we´re around 30 pips away from an important reversal level of 2013 @0.9440, as the chart continue showing long trading signals we can keep chasing longs but just for short term trading and with small lots, this just until the price hits that level, then we must be aware of how the chart moves because during the middle of the week approximately could observe the formation of a big retracement movements.

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

Support 1 @0.9316 (September 19, 2014)

Support 2 @0.9176 (September 05, 2014)

Resistance 1 @0.9440 (September 06, 2013)

Resistance 2 @0.9727 (July 10, 2013)

XM/MT4 USD/JPY Daily Chart

 

We continue observing multiple extremely vertical trends during last weeks, in this case the price advance of last week as more than vertical, these types of movements can be as profitable as dangerous because the same way of the market grows i could fall, remember that old Wall street said, ¨to make the price go up we need buyers, to make the price fall, we do not need nothing¨ i call it the gravity of the markets.

We were able to find a very important level of May, 2008 @ 110.78, where the price drops down for around three months, the price is now 140 pips away from that level so we can keep our longs running for a little while, but always aware of what the price does.

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

Support 1 @101.40 (July 20, 2014)

Support 2 @ 97.18 (October 20, 2013)

Resistance 1 @110.78 (May, 2008)

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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