GOLD forecast: Selling pressure & bulls are waiting to hunt!

GOLD 30th March 2015

Gold (currently at: 1183 level) after taking a direct run from 1128 to 1220 during the second half of March, 2015 as I previously expected. The 1220 level was a strong resistance to stop this run from moving up to the next level.

I still prefer the long positions for the gold, wait for the gold to fall sharply this time, with the nonfarm payroll next week, you should not buy GOLD early without a clear support.

The GOLD (XAU/USD) has the following major resistance and support levels:

  • RESISTANCE: 1220
  • SUPPORT: 1076

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (50 pips stop loss applied):

  • Sell: at 1180 – Take profit 1100 (80 pips profits)
  • Buy: at 1080 – Take Profit 1180 (100 pips profits)
  • Buy: at 1010 – Take Profit 1160 (150 pips profits)

This review is valid during trading week(s): 30th, March-3rd April, 2015

The Mystery of GBP/USD

GBP/USD 19th March, 2015

GBP/USD (currently at: 1.4730) is giving a clear sign of downtrend. Honestly, I can not recommend buying this pair at this level again. The BOE is not that serious about raising the interest rate this month, we will have to wait April, 2015 to see any signs of a change in BOE plan.

Yesterday, after the dovish statement of the American central bank, I can see a higher probability for strong US dollar the next 2 weeks. My technical overview can not see any serious buyers for the GBP/USD at this level without falling to 1.4334 level. I recommend buying this pair around this level and use good enough stop loss because it might fall a little bit harder before going up to test any resistance.

The GBP/USD has the following major resistance and support levels:

  • RESISTANCE: 1.5167
  • SUPPORT: 1.4334

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (30 pips stop loss applied):

  • Sell: at 1.4730 – Take profit 1.4660 (70 pips profits)
  • Buy: at 1.4350 – Take profit 1.4400 (50 pips profits)

This review is valid during trading week: 21st-25th March, 2015

EUR/USD is waiting the FED. statement tomorrow!

Eur/Usd 17th March, 2015

EUR/USD confirmed our expectations and answered our question in a previous post with a direct fall from 1.1172 to 1.0459 during the first 2 weeks of March, 2015.

ECB started its QE (~to buy a total of €60 billion a month in assets including government bonds, debt securities issued by European institutions and private-sector bonds). This directly means a weaker euro. The EUR/USD found a minor support at 1.0459 few days ago and it tested it once, we are expecting another test for this support level before trying any major resistance level. Federal Reserve System (Central bank of America) will release its monthly statement tomorrow 18th, March 2015 and every one is waiting any clue for the timing dilemma of the american interest rate hike. With all these elements on the table, I am not feeling comfortable to trade this pair the next few hours especially with Greece’s smoke is everywhere in the air.

The EUR/USD has the following major resistance and support levels:

  • RESISTANCE: 1.0755
  • SUPPORT: 1.0459

Breaking these levels in any direction will take us higher or lower.
My Daily SELL advice (30 pips stop loss applied):

  • Sell at: 1.0455 – Take Profit 1.0400 (55 pips profits)
  • Sell at: 1.0755 – Take Profit 1.0725 (30 pips profits)

QUICK HINT: EURUSD is still dangerous pair, I recommend using very low leverage and do not risk more than 2% of your total equity in it.

This signal is valid during trading week: 17th-20th March 2015

Gold Forecast: Gold’s uptrend is coming by the end of March?

Gold Forecast

Gold, the charming metal had a long down trend from the second half of year 2011, lasted years: 2012, 2013. Year 2014 was a supportive year for the precious metal with few dips. Currently, the 1128 level is the closest support for the gold buyers at the moment. However, I think that this minor support might be broken because of the strong dollar to test this important support 1076. On a break to 1076 level, we must wait for a while before entering the market again, the GOLD will be dangerous to trade on a break to 1076 level

I prefer the long positions for the gold. Pick the right point to enter and I prefer to wait for the gold to fall before going long. It will make some squeeze down before trying to test our short term resistance.

The GOLD (XAU/USD) has the following major resistance and support levels:

  • RESISTANCE: 1174
  • SUPPORT: 1076

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (30 pips stop loss applied):

  • Sell: at 1076 – Take profit 1050 (26 pips profits)
  • Sell: at 1150 – Take profit 1100 (50 pips profits)
  • Buy: at 1080 – Take Profit 1180 (100 pips profits)

This review is valid during trading week(s): 12th-20th March, 2015

USDJYP FORECAST, 11th March, 2015

USD/JPY forecast before Federal Budget Balance & Core Retail Sales

USDJYP FORECAST, 11th March, 2015

USD/JPY finally broke important resistance at: 120.45 level and tested 122 level yesterday in the morning (during the asian session) . My expectation was perfectly correct, as you can see USD/JPY is ongoing hot battle field between the bulls and the bears. The bulls still have the enough control to test 122 level again and I am expecting another break trying to touch one of these levels (123-124). The USD/JPY has the following major resistance and support levels:

  • RESISTANCE: 123
  • SUPPORT: 118.20

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (50 pips stop loss applied):

  • Sell: at 122.5 – Take profit 122 (50 pips profits)
  • Buy: at 121.5 – Take Profit 122 (50 pips profits)
  • Buy: at 120.5 – Take Profit 121 (50 pips profits)

QUICK HINT: USD/JPY is still too dangerous!. Take care

This review is valid during trading week: 11th-13th March, 2015