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XM/MT4 EUR/USD Daily Chart
The pair continues with the 65 day down trend that behaved normally and constant during these last days, at this point we must wait for some reversal movement but we talked about an important support level of 2013 but seems that the level has been reached and the price jump over it with no hesitation, now the next target in the history remains +300 pips away from the current price so we must be a little relaxed about an aggressive reversal movement till a hit on the next target @1,2636, if the price passes that level we´ll be waiting for a hit @1,2436.
These are the most important support and Resistance levels for this week:
Support 1 @1.2636 (Jan 15, 2012)
Support 2 @1.2436 (Jun 03, 2012)
Resistance 1 @1.3677 (July 01, 2014)
Resistance 2 @1.3909 (May 07, 2014)
XM/MT4 GBP/USD Daily Chart
The pair continue with a 47 day down trend and after finding a support level @1.6103 is now trying to recover the 200 pip reversion, at this point we must watch and cover our positions in case of a non planned price movement, we must remember that even if the price rises and passes the last top of the reversal level of last week, we must consider that the price´s actually and still down the 250 period EMA so we must count that we´re still in the right direction.
These are the most important support and Resistance levels for this week:
Support 1 @1.6100 (September 09, 2014)
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 still appreciate a massive acceleration of the price movements the same way we analyzed with EUR/USD currency pair except that much more vertically, we commented about an important resistance level that has been reached and passed without a price bounce, at this point we and considering the trend verticality we can wait for an aggressive reversal movement at anytime during this week so we must be aware of any possibility of a change of direction, covering our positions and reducing the lot size of the new ones.
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 @0.9641 (June 30, 2013)
Resistance 2 @0.9705 (May 19, 2013)
XM/MT4 USD/JPY Daily Chart
For the third week we can observe an extremely vertical trend, in this case the price advanced last week much more than expected, these types of movements can be as profitable as dangerous because the same way of the market grows it 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 keep reminding you these aspects in this week´s report.
The next target for this pair is 90 pips away from the current price, the price doesn´t hit this level since 2008 and as we can observe in the chart this is a very important leve where in the past the price began a long and vertical trend that moved the price hundreds of pips down, once there we recommend to be aware of where the market moves and at any change you must cover your positions and reduce the lot size of the new ones.
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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