Forex Weekly Analysis (4/13/15-4/17/15)

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 #forex currency pairs for this week. This week I will be concentrating on pairs with bearish trend trading opportunities. Expect high volatility within the markets pending the #usd unemployment and prelim sentiment; #nzd be on the look out for the NZIER confidence, and for #cny, the trade balance This week trade pairs cautiously with proper risk:reward ratio until a clearer trend pattern can be defined, if it hasn't already. For now, remember the trend is your friend until it bends :-)

1) #EUR/USD (Daily) - Last week if you got in at the right moment, you witnessed this pair descending graciously for a whopping 400 pips, making a new lower low of 1.0550 and a massive engulfing bearish candlestick formation on a weekly time frame :-). This week, there might be a re-tracement of 200-300+ pips from #eurusd current position upon opening early in the week. A test of the upper 1.1050 may occur, but remember #eurusd is still in a strong downtrend on a weekly & monthly time frame so expect to trade accordingly. If given a bearish opportunity plan to short (sell)  the market at the (1.0850-1.1050) range toward the 1.0440 and/or below. If the pair can exceed the 1.0400 level, it is highly probable that the downtrend is intact & will continue towards a D extension and/or support level of 0.9770. Depending on your position, expect at least 300+ pips on this emotional rollercoaster for this week.

2) #EUR/JPY (Daily) - Like most #euro pairs, this girl came tumbling down with all the Kings horses and all the Kings men. Expect a re-tracement of 100-200 pips from #eurjpy current position.  If given a bearish opportunity around (128.0-130.5) plan to short (sell) this pair back down towards the 125.40 and/or lower range and cancel/replace as needed. Expect at least 200+ pips on this sweet ride for this week.

3) #GBPNZD (Daily) - Last week the bulls scored a point at the 1.98 level and the bear quickly took control after, and boy did they pound the pavement with this girl making a new weekly low of 1.9360 For this week, there is a possible re-tracement range between 100-250 pips and a test from the bulls at the 1.9550-1.9640 daily resistance range. If given a bearish opportunity, plan to short (sell) this pair around 1.95-1.96 back down to the (1.9400-1.9300 and below) range toward 1.9240 and cancel/replace as needed. Depending on your entry expect to ride this wave for at least 300+ pips for this week.

4) #GBP/JPY (Daily) - This pair is currently maintaining her monthly pursuit of failing happiness :-). For you bulls out there, expect a possible 100-200 pip re-tracement for a long (buy) entry that will test the 178.0, if this is a fail which I predict it will again anticipate a downward movement of about 200-300 pips from #gbpjpy current position. When given a bearish opportunity at the  (176.8-178.0) plan to go short (sell) on this pair back down to the 174.0 and below range and cancel/replace as needed. Expect this cookie to crumble for at least 300+ pips for this week.

5) #GBPUSD (Daily) - For this week, she is still very bearish on a weekly chart. Last week she did manage a higher low and a lower high, which gives high probability that her downtrend is still intact. This week take advantage of the if then process for bearish . If given a bearish opportunity at (1.48-4750) take a short (sell) entry on this pair back down to the 1.4620-1.45 and below range and cancel/replace as needed. Expect at least 200+ pips profit from this feisty gal this week.  

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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