Forex Weekly Analysis (3/16/15-3/20/15)

Hey there lovelies,

**Disclaimer: Please note I am not a FOREX financial adviser/specialist and will not be held accountable for any loss/gain by any individuals who chose to use this information for their own personal gain. Everything discussed in this blog is just for my own personal and financial improvement. **

Here is my analysis on several currency pairs for this week. This week I will be concentrating on pairs with bearish and bullish trend trading opportunities.

1) #EUR/JPY (Daily) - Expect a re-tracement of 100-200 pips from #eurjpy current position. When given a bearish opportunity plan to short (sell)  this pair back down towards the D extension of 125.10 and/or lower (126.0-124.90) range and cancel/replace as needed. Expect at least 300+ pips on this sweet ride for this week.

2) #GBPNZD (Daily) - Last week this pair had unexpected re-tracement & rally high of 2.0845, making a higher high & low compared to last week. This was mainly due to NZD maintaining the trade balance of 3.50. Therefore, cautiously trade the counter downtrend if you wish, and be mindful of a possible reversal if she makes a higher high & low compared to last week.  For this week, expect further re-tracement with a range between 2.0400-2.0500+ and a test at that higher resistance level, if held that would be a highly probable level for a short entry. When given a bearish opportunity, plan to short (sell)  this pair back down to the 2.0000-1.9800 range and cancel/replace as needed. Please note this pair currently has a trading consolidation range of 2.0045-2.0900. Depending on your entry expect to ride this wave for at least 400+ pips for this week.

3) #GBP/JPY (Daily) - Last week this pair made a lower low within the 61.8% fibonacci level. Expect an upward movement of about 250-300+ pips from #gbpjpy current position. When given a bullish opportunity at the  132.0-133.0 resistance level plan to long (buy)  this pair back up to the 180.50-182.10+ range and cancel/replace as needed. Expect this cookie to rise for at least 300+ pips for this week.

4) #GBPUSD (Daily) - Last the bears scored their first point. For this week, she is still very bearish on a weekly chart so expect some re-tracement but not too much (about 100-200 pips). When given a bearish opportunity take a short (sell) entry on this pair back down to the 1.4690-1.4545 range and cancel/replace as needed. Expect at least 300+ pips profit from this feisty gal this week. Also, because this market will always do what it wants to do and #gbpusd getting closer to its all time low of 1.3480 play it safe with this pair as it gets closer to the 1.4000 price. For now remember the trend is your friend until it bends :-)

Thanks for reading and please be sure to follow me and/or subscribe to my YouTube, Twitter, Instagram and Facebook at caramelnatural82. Happy Trading and Good Luck! 

Xoxo, Deuces ;-)

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