Forex Weekly Analysis (3/9/15-3/13/15)

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 trend trading opportunities.

1) #EUR/JPY (Daily) - Last week this pair officially broke it's inner uptrend line with two engulfing bearish candlestick formations on a weekly chart. This in return gives a strong confirmation for trend direction. Expect a re-tracement of 100-150 pips from #eurjpy current position. When given a bearish opportunity at the  132.0-133.0 resistance level plan to short (sell)  this pair back down to the 130.0-128.0 range and cancel/replace as needed. Expect this cookie to crumble for at least 300+ pips for this week.

2) #GBPNZD (Daily) - Last week this pair hit its D extension and quickly retraced back up... Mainly due to the U.S Non Farm Payroll news release. For this week, expect a 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 2.0200-1.9800 range and cancel/replace as needed. Depending on your entry expect to ride this wave for at least 300+ pips for this week.

3) #GBPUSD(Daily) - Last week this girl officially made a bold statement that she was ready to go downtown by plummeting a whooping 550 pips, most of which happened within the 1st two hours of the monthly report release of the U.S Non Farm Payroll (<--- note this is one of the U.S biggest reports that guarantees high volatility in the market). For this week, 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 1.5000-1.4820 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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