Forex Weekly Analysis (4/6/15-4/10/15)

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 and bullish trend trading opportunities. Expect high volatility within the markets pending the #usd FMOC minutes, and unemployment; #eur be on the look out for the Spanish unemployment, #aud, RBA statement, and for #gbp, the NISER estimate. This week trade #usd pairs cautiously with proper risk:reward ratio until a clearer trend pattern can be defined, as market indecisiveness and consolidation ranges are where most traders lose money. For now, remember the trend is your friend until it bends :-)

Market food for thought: http://money.cnn.com/2015/04/03/news/economy/march-jobs-126000-us-economy/index.html

1) #EUR/USD (Daily) - There might be a re-tracement of 100-200 pips from #eurusd current position upon opening, #eurusd is still in a strong downtrend on a weekly & monthly time frame, but continue to be on the look out for a reversal due to the #usd weakening. So this week, expect to trade cautiously using the if then process. A test of the upper 1.1050 may occur, and if broken expected a much needed short term trend reversal towards the 1.1200 price level. If given a bullish opportunity plan to go long (buy) between the range of (1.0900-1.0800), but be prepared to go short if the pair fails to exceeds upper resistance levels (1.1045, 1.1130 & 1.1460). If given a bearish opportunity plan to short (sell)  the market at the (1.0790-1.0730) range. 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) - Expect a re-tracement of 100-200 pips from #eurjpy current position. If given a bullish opportunity, go long (buy) at the 129.40-130.0 level and a test of the 132.0 level in an attempt to established a C high. If held it is likely that upward movement will continue. If given a bearish opportunity plan to short (sell) this pair back down towards the 128.0 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 2.0 level and the bear quickly took control after, giving us our C high. For this week, there is a possible re-tracement range between 50-150 pips and a test from the bulls at the 1.9700-1.9835 resistance level. If given a bearish opportunity, plan to short (sell) this pair around 1.9700-1.9850 back down to the (1.9600-1.9400 and below) range 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 178.50, if this is a fail which I predict it will be anticipate a downward movement of about 250-300 pips from #gbpjpy current position. When given a bearish opportunity at the  (178.50-178.0) plan to go short (sell) on this pair back down to the 175.50 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, but with recent U.S news a slight short-term reversal may be possible in the near future. Although 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 and/or bullish trades. Take note that this pair has the makings of a potential consolidation range on a daily between (1.5000-1.4800). If given a bearish opportunity at (1.5000-4860) take a short (sell) entry on this pair back down to the 1.4800-1.4600 and below range and cancel/replace as needed. Expect at least 200+ pips profit from this feisty gal this week.  
Market food for thought: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11516220/New-credit-crisis-warning.html

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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