Forex Market ¨Technical Report of The Week Ahead¨

Technical Report For The Week From January 04 to January 09, 2015

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XM/MT4 EUR/USD Daily Chart

 

 The pair is still pushing down after a 137 day short trend that doesn´t show a single weakness point, we´re 2 pips away from 1.2000 and according to the chart analysis the next target for the pair is @1.1930 according to the weekly chart history.

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

Support 1 @1.1930 (2010)

Resistance 1 @1.2499 (Dec, 2014)

Resistance 2 @1.2556 (Nov, 2014)

XM/MT4 GBP/USD Daily Chart

 

The pound is not looking good against the US dollar, the friday daily candlestick of +100 pips confirmed the continuation of the short  trend that is +80 days long now and is looking forward for a next target @1.5089 of 2013, once there is a chance for a reversal movement but we must be alert at any change if direction during the next hours.

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

Support 1 @1.5089 (2013)

Resistance 1 @1.5583 (December, 2014)

Resistance 2 @1.5738 (December, 2014)

XM/MT4 USD/CHF Daily Chart

 The pair is looking ahead for a continuation of the 100 day long trend that has been advancing really smooth and predictable , we must wait for the price to hit its next target @1.0059, observing that is pretty close actually, once the price gets there we must be observing and alert because the probabilities of a reversal movement will increase and we must cover our positions at any change of the market direction.

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

Support 1 @0.9598 (December, 2014)

Support 2 @0.9560 (November, 2014)

Resistance 1 @1.0059  (2010)

XM/MT4 USD/JPY Daily Chart

 There is a pretty positive scenario for the US dollar against the Japanese Yen, currently under something that can be the beginning of a reversal pattern, we observed the close of the friday with a lower high @120.45 that make us think about a possible change of direction , at any conditions or possible scenarios we recommend to be aware of the price movement and covering our positions at any change of direction of the market.

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

Support 1 @116.40 (December, 2014)

Resistance 1 @120.53 (December, 2014)

Resistance 2 @121.56 (December, 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.

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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