Forex Weekly Analysis (7/20/15-7/24/15)

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. **

So let me start by congratulating those of you who decided to trade these past few weeks during the Greek drama and manage to make profitable trades. I on the other hand, decide to sit on the sidelines and watch the market do its thing without me. Slowly, but surely I'm learning when in doubt it's better to stay out of the market and preserve 100% of your capital versus giving it away because of ignorance. Continuing on, 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. 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) - This month for this gal has been a little cray cray to say the least due #Greece issues. This week, expect a re-tracement of 50-150+ pips before a continued downward movement and test a the 1.079-1.07 range. Although #eurusd is still in a strong downtrend on a weekly & monthly time frame a much needed short reversal may be looming if she hold support above 1.07. Be sure to use proper money management with this pair with rational risk:reward due Europe fragility. If given a bearish opportunity plan to go short (sell)  at the (1.10-1.12) range towards 1.08 and/or below,and expect a rapid decline at the 1.065 bench mark towards 1.045 if this pair can hold her own against the big dogs lurking at the 1.07 level. If given a bullish opportunity plan to go long (buy)  at the (1.08-1.07) range towards 1.14 and/or above. If the pair can exceed the 1.1550 level, it is highly probable that an uptrend reversal will continue towards the resistance level of 1.2 and/or above.  Depending on your position, expect at least 300+ pips on this emotional roller coaster for this week. 

2) #AUD/JPY (Daily) - Due the financial uncertainty of China this ol' gal maybe setting up for a significant drop in the near future and is worth keeping on your radar for an amazing short opportunity if she can manage a full candle close below the monthly uptrend line. If given a bearish opportunity between (94.0-96.0) plan to go short (sell) on this pair back down towards the 86.7-86.0 and lower.  Expect at least 200+ pips on this sweet ride for this week.

3) #GBPUSD (Daily) -  Last week, this girl managed to make a new weekly higher high & low, suggesting a possible end to her 2nd re-tracement from her uptrend ending at the 38.2% Fibonacci level. This week she may retrace 50-150 pips before continuing her bullish ride. If given a bullish opportunity at (1.55-1.545) take a long (buy) entry on this pair back up towards  1.6 and/or above range towards her projected 1.66 D extension. 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