Forex Weekly Analysis (4/27/15-/5/01/15)

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. 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 higher low of 1.0670 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 roller coaster for this week.

2) #EUR/JPY (Daily) - Expect a re-tracement of 100-200 pips from #eurjpy current position. If given a bullish opportunity around (128.80-128.0) plan to long (buy) this pair back down towards the 131.0+ range. If given a bearish opportunity around (127.30-126.0) 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 dominated the bears mid-week at the 2.0030 level. She definitely rode that stallion like a champion.  before taking another ride on her pony. If you were lucky enough to get a piece of her, you probably make a pretty nice penny ;-) For this week, trade this pair cautious. With her weekly bullish engulfing candle that consumed three weeks worth of bearish movement, a short term reversal may be looming. There is a possible re-tracement range between 100-200 pips and a test from the bears at the 1.9730-1.9560 daily support range. If the bears fail to regain control around the 1.98-97 range, be prepared to go long (buy) on this pair. If given a bullish opportunity, plan to go long (buy) on this pair around 2.0080-2.0100 back up to the (2.020-2.030 and/or above). If given a bearish opportunity, plan to short (sell) this pair around 1.97-1.9640 back down to the (1.94-1.93 and below) range keeping in mind that the 1.9350-1.93 has acted as decent support in the past. Remember to 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) - For you bulls out there, expect a possible 100-200 pip move for a long (buy) entry that will test the 185.0. If bear fail to regain control expect further upward movement. If given a bearish opportunity at the  (185.0-185.3 plan to go short (sell) on this pair back down to the 177.0 and below range and cancel/replace as needed. Expect this cookie to crumble for at least 300+ pips for this week.

5) #GBPUSD (Daily) -  Last week she did manage a higher low as well as a higher high compared to last week. This week there may be a bullish attempt of the 1.56, but take advantage of the if then process for bearish opportunities . If given a bullish opportunity at (1.50-4950) take a long (buy) entry on this pair back up to the 1.54-1.56 and below range. If given a bearish opportunity at (1.49-48) 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 ;-)

Click link to view my recent stats:

http://www.myfxbook.com/members/naturallycurly82/caramelnatural82/1051109/brXzJBbrJk2T3xJTosfh