Forex Weekly Analysis (4/20/15-4/24/15)

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 both bullish and bearish trend trading opportunities. Expect high volatility within the markets pending the PMI release for featured currencies, #usd unemployment and durable goods; #nzd be on the look out for the CPI release, and for #eur, the German sentiment.This week trade pairs cautiously with proper risk:reward ratio until a clearer trend pattern can be defined, if it hasn't already.Also, remember to have a trading plan and to trade that plan (i.e reasons for an entry and most important an exit). If you miss an opportunity, DO NOT chase the dragon it will always in one way or another be a losing battle for you. As always, remember the trend is your friend until it bends :-)

1) #EUR/USD (Daily) - Last week, this girl made a new low of 1.0465 and then started making her move back up :-). This week, there might be a re-tracement of 100-200 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 bullish opportunity plan to go long (buy)  the market at the (1.0700-1.0640) range toward the 1.1050 and/or above. When given a bearish opportunity plan to short (sell)  the market at the (1.0950-1.1050) 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.
market moving news: http://www.bloomberg.com/news/articles/2015-04-18/ecb-s-draghi-says-urgent-that-greece-strikes-deal-with-creditors

2) #EUR/JPY (Daily) - Expect a re-tracement of 100-200 pips from #eurjpy current position. If given a bullish opportunity around (127.0-127.70) plan to long (buy) this pair back down towards the 130.0+ range. If given a bearish opportunity around (129.30-131.0) 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 1.9718 level and the bear quickly took control after. She went as low as 1.9375 before taking another ride on her pony. For this week, there is a possible re-tracement range between 100-200 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 1.95-1.9640 back down to the (1.94-1.93 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) - Last week the bears scored a point at 174.90, then the bulls went for a run :-). For you bulls out there, expect a possible 100-200 pip move for a long (buy) entry that will test the 179.30, if this is a fail anticipate a downward movement of about 200-300 pips. When given a bearish opportunity at the  (178.0-179.0) 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 lower low, but also made a higher high compared to last week. This week there may be a bullish attempt of the 1.52, but take advantage of the if then process for bearish opportunities . If given a bearish opportunity at (1.5000-5200) 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.  

Xoxo, Deuces ;-)

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