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FOREX MARKET ANALYSIS – THE WEEK AHEAD MAJOR PAIRS

USD/JPY (XM Daily Chart)

The pair is currently breaking the short term channel where the price has been fluctuating since february, it seems it will look for a resistance level at 107.88 in the very short term, probably tomorrow or tuesday, once ther we can start looking for some short trades at that level.

USD/CHF (XM Daily Chart)

The price seems to be still very sticked to the upper channel and just now looking at the next resistance level al 0.9675 its a good chance for looking for opening long trades at the market price until it gets closer to the previously mentioned level.

EUR/USD (XM Daily Chart)

The Euro is still going up, and there are no notable signs that indicates that the price will go down, however though, the current price matches a resistance level that was tested back in 2012 at 1.2340, if this level is tested again we will probably see a retracement of a considerable amount of points, we´ll see.

GBP/USD (XM Daily Chart)

The pound, same as the Euro, is currently moving up and looking forwart to hit the next historic resistance level, in this case the most important level will be until it test 1.4677, about 40 pips from the current market price, once there we can start looking for some reversal opportunities in the short term.

AUD/USD (XM Daily Chart)

The pair has been moving in a down trend since january, however, at this point seems to be testing the level at 0.7773, if it crosses over the trend line it will probably break the two month down trend to look for a level over 0.8, we will see where this pair is going to go over the week ahead.

This trading week ends today with great results, some negative pips, some other positive but at the end the balance worked in our favor, basically because of a proper risk/reward management, we’re lookimg forward to a sustainable growth along a great trading system, for us and for our suscribers, cheers and a happy weekend for everyone!!

Ronald David Fallas

CEO/Trader @ C&S Trading Co.

http://www.currencyandstock.com