Forex Market ¨Technical Report of The Week Ahead¨

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Technical Report For The Week From June 28th to July 03rd, 2015

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XM/MT4 EUR/USD Daily Chart

 

We´re starting the week with a negative +150 pips gap that is currently sending the price under 1.100 level, as the gravity moves the price and the pairs use to behave the price will probably bounce at the support level created during this weekend, we must wait for a considerable recovering of the base currency untill hitting the next resistance level @1.1363 from June 19th, 2015.

Support 1 @1.0990 (06/29/2015)

Support 2 @1.0854 (05/27/2015)

Resistance 1 @1.1374 (06/19/2015)

Resistance 2 @1.1434 (05/15/2015)

XM/MT4 GBP/USD Daily Chart

 

As we can observe in the chart, the pair has dropped around 200 pips from last resistance searching for a former support at middle term, as we can see the volume is low at the moment this post has been written and we can easily detect a possible support level @1.5700 where we will expect that once the price bounce over it will probably find a new target at a former resistance, possibly  @1.5915 from June 19th.

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

Support 1 @1.5510 (05/19/2015)

Support 2 @1.5115 (05/04/2015)

Resistance 1 @1.5216 (06/02/2015)

XM/MT4 USD/CHF Daily Chart

The pair is moving forward to touch the 200 period EMA, the next target is @0.9500 from May 27th, 2015, as we can read the chart, this week the price is going for a target over the long period EMA, probably  @0.9684 from April 24th, this something that only the next couple of days can say but for the moment we get some clear clues.

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

Support 1 @0.9181 (06/19/2015)

Support 2 @0.9108 (05/14/2015)

Resistance 1 @0.9525  (05/14/2015)

Resistance 2 @0.9710  (04/23/2015)

XM/MT4 USD/JPY Daily Chart

 

The pair continues losing terrain gained during last months, this time the formed gap reverted untill 122.95 level but as we can observe the gap only worked as a potential support level where the price will probably bounce and eventually search for a former resistance level  @125.27 from June 05th, 2015, we also need to have in count that the price is still over the 200 period EMA so the possibilities for more rising of the price increases.

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

Support 1 @122.35 (06/28/2015)

Support 2 @118.98 (05/13/2015)

Resistance 1 @124.00 (06/24/2015)

Resistance 2 @125.63 (06/08/2015)

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.