Forex Weekly Analysis (5/18/15-5/22/15)

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. Expected high volatility going into next week's session and manage trades wisely, #usd (FMOC report, unemployment, and CPI), #eur (German sentiment, PMI, climate and Draghi), #gbp (CPI, bank vote, and Carney), and for #nzd (inflation and flash PMI).  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 continued thrusting her hips towards the upside with a higher high of 1.1465. This week, expect a re-tracement of 100-200 pips from #eurusd current position.. A test of the upper 1.1520 may occur. Although #eurusd is still in a strong downtrend on a weekly & monthly time frame a much needed short reversal may be looming based on monthly bullish candlestick formation. If given a bullish opportunity plan to go long (buy)  the market at the (1.1230-1.1150) range toward the 1.1530 and/or above. Expect some consolidation around 1.1370-1530 resistance level. If the pair can exceed the 1.1550 level with a full body candle, it is highly probable that an uptrend reversal has been confirmed & will continue towards resistance level of 1.22 and/or above and hopefully establishing clear up ABCD pattern. If given a bearish opportunity plan to short (sell)  the market at the (1.15-1.1530) range towards 1.122 and/or below. 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 (134-133.5) plan to go long (buy) on this pair back up towards the 137.5+ range.  Expect at least 200+ pips on this sweet ride for this week.

3) #GBPNZD (Daily) - Last week the bulls dominated the bulls after last week's majority conservative vote for the general 2015 UK election, soaring to the resistance 2.14 level. If given a bullish opportunity, plan to go long (buy) on this pair around 2.1-2.08, and back up to the (2.12-2.14 and/or above),but use a decent stop of 30-100 pips due to pair not being able to overcome its most recent resistance level and may be out to find a new C for its recent up ABCD pattern. If given a bearish opportunity, plan to short (sell) this pair around 2.085-2.083 back down to the (2.04-2.035 and/or below). Remember to cancel/replace as needed. Depending on your entry expect to ride this wave for at least 300+ pips for this week.

4) #GBPUSD (Daily) -  Last week she effortlessly climbed to new heights of 1.5815, which she predictably found resistance. This week there may be another bullish attempt of the 1.58, but take advantage of the if then process for bearish opportunities if this resistance level is not overpowered. If the 1.583 is denominated expect her run towards her friends with benefits at 1.6-1.62 within the next two weeks.  If given a bearish opportunity at (1.58-1.583) take a short (sell) entry on this pair back down to the 1.546 and below range and cancel/replace as needed, also note this girl may have found her peak "B" man and may be the prowl for another lover

aka "C". If given a bullish opportunity at (1.544-1.543) take a long (buy) entry on this pair back up to the 1.58 and above range.  Expect at least 300+ pips profit from this feisty gal this week.  

Xoxo, Deuces ;-)

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