Forex Market ¨Technical Report of The Week Ahead¨

Technical Report For The Week From June 21st to 26th, 2015

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XM/MT4 EUR/USD Daily Chart

 

The pair is still trying to recover the lost terrain in during the last weeks as we can observe and is getting closer to the 200 period moving average, we found a Resistance level @1.1430 from May 15th, as the price will continue moving down it will probably hit the support level of 1.0843 from May 27, there we must wait for a continuation of the rising trend.

Support 1 @1.0843 (05/27/2015)

Support 2 @1.1487 (02/03/2015)

Resistance 1 @1.1430 (05/15/2015)

Resistance 2 @1.0549 (04/13/2015)

XM/MT4 GBP/USD Daily Chart

 

The pound is officially over the 200 period and is giving signs of recovering in the middle term, at least for the coming week, as the last week the price grow approximately 500 pips, we must wait for a reversal movement during the next couple of hour, for current trades we recommend to cover any open positions at any change of direction.

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

Support 1 @1.5198 (06/02/2015)

Support 2 @1.5115 (05/04/2015)

Resistance 1 @1.6126 (10/29/2014)

Resistance 2 @1.6374 (09/24/2014)

XM/MT4 USD/CHF Daily Chart

 The pair is now +300 pips away from the 200 period EMA, and is currently 100 pips away of hitting the previous support level from May 14th @1.9095, we consider the price will probably bounce over the mentioned support level and then will recover terrain gradually during the next days, for now we recommend to go short and cover any open positions at any signal of weakness.

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

Support 1 @0.9095 (05/14/2015)

Support 2 @0.8591 (01/22/2015)

Resistance 1 @0.9512  (04/27/2015)

Resistance 2 @0.9696  (04/22/2015)

XM/MT4 USD/JPY Daily Chart

 

After an incredible rising movements during the last weeks we´re finally observing the price going in reverse and currently 285 pips away from the last maximum point reached, this can be a good time to go short but we need to remember that the price is still over the 200 period EMA, and there is a chance, specially due some fundamental new of something of that nature that can erase the reversion movements in a very short amount of time so we recommend to cover any position at any change of the current direction and trade with smaller lots according to reduce the risk ratios.

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

Support 1 @118.93 (05/12/2015)

Support 2 @116.14 (01/15/2015)

Resistance 1 @122.61 (06/11/2015)

Resistance 2 @118.98 (05/14/2015)

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.