Forex Weekly Analysis (5/4/15-5/8/15)

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 bold statement an aggressive move to the upside with higher high of 1.1285 with little re-tracement. So, since you couldn't beat her as a bear, I hope you quickly reverse your position and joined her as a bull :-). This week, there might be a slight re-tracement of 50-150 pips from #eurusd current position.. A test of the upper 1.1350 may occur. Although #eurusd is still in a strong downtrend on a weekly & monthly time frame a much needed short reversal may be looming. If given a bullish opportunity plan to go long (buy)  the market at the (1.1130-1.10) range toward the 1.1350 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 (1.0950-1.0700) range towards 1.0460 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 (132.70-133.0) plan to long (buy) this pair back towards the 136.5+ range. If given a bearish opportunity around (129.30) plan to short (sell) this pair back down towards the 126.0 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 dominated the bears mid-week at the 2.0365 level. She definitely stay on her high horse for the majority of the week like the diva she is, before gravity hit. For this week, trade this pair cautiously until a clear pattern has been confirmed. If given a bullish opportunity, plan to go long (buy) on this pair around 2.010-1.99 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) Remember to cancel/replace as needed. Depending on your entry expect to ride this wave 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 above range, but note the the 1.5450-56 has acted as descent resistance in the past so a sell order may need to be considered if the bullish are unable to close above it. 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 ;-)

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