.. Still in the range: USD/JPY

Current trend: Sideline moves within the range

Recommended position: Sell

  • Buy zone: 99.80
  • Sell zone: 105.60

Comment: USDJPY is the same as the last week, Slow moves to the upper side of the range telling us that a bullish move is trying to form a support to move higher. Without any real action from Bank of Japan or the Federal Reserve of US, I would not buy this pair, at least till the US president election is giving us a name for the next US president. Watch out your positions, This pair is classified dangerous in the next week!

USDJPY Forecast - October 2016

This post is valid during trading week: 24th-28th October, 2016

EUR/USD Forecast: Euro is ready to take off again!

EURUSD 26th, May 2015

EUR/USD moved under 1.1450 resistance level, this pair seems to be ready for another short term uptrend.

I am expecting EUR/USD to test the next resistance around 1.1740, This might be fast and the pair should move in choppy way within this range (1.09151.1740) again.

As I mentioned before EUR/USD still has strong support at 1.0459 and it tested it once, I am still expecting another test to this support level.

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

  • RESISTANCE: 1.1740
  • SUPPORT: 1.0459

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

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

  • Buy at: 1.1350 – Take Profit 1.1550 (200 pips profits)
  • Buy at: 1.1250 – Take Profit 1.1450 (200 pips profits)
  • Buy at: 1.0940 – Take Profit 1.1040 (100 pips profits)

This signal is valid during trading week: 25th to 29th May, 2015

USD/JPY Forecast: This is not a magic, USDJPY is testing critical resistance

USDJPY 20th May, 2015

USD/JPY jumped to 121 level (in 5 sessions) after finding minor support around 118.85. My inner voice was correct in this post even it was a little bit earlier than my expectations but, the USD/JPY finally made it to 121 to threaten 122.04 major resistance. Simply, breaking 122.05 is a clear buy signal with a target to 123-124, it depends on how the momentum of the move.

My technical overview is highlighting two strong resistance levels: 121.60 or 122.02. The support for USD/JPY can be found above these levels: 118.85 and 117.50. I am expecting choppy moves between 123-120 range but, this should not be valid without a clear break and close above 122.02, otherwise the USD/JPY should test the support again around 118.85

Fed minutes are expected to have limited effect, Bank of Japan announcement on next friday will be market mover so, watch this pair well, it seems like we are in the middle point of a road and market will tell us whether we will continue the same road or U-turn is our next

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

  • RESISTANCE: 124
  • SUPPORT: 117.50

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

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

  • Sell: at 121.50 – Take profit 120.50 (100 pips profits)
  • Sel: at 122 – Take profit 120 (200 pips profits)
  • Sell: at 123.20 – Take profit 122.20 (100 pips profits)
  • Buy: at 122.05 – Take profit 123 (95 pips profits)
  • Buy: at 119.50 – Take Profit 120.10 (60 pips profits)

This review is valid during trading week: 20th-22nd April, 2015

EUR/USD Forecast: Strong Euro will take a hit!

EURUSD 14th May, 2015

EUR/USD just touched 1.1447 resistance level, 3 pips away from my previous expectations. It was clear that correction is coming and this short term uptrend will last for a while. we can see support around 1.1290 and 1.0655.

I am expecting EUR/USD to keep on sideline moves in the next week with another attempt to test the next resistance around 1.1675, This will not be fast and the pair should move in choppy way within this range (1.12901.1675).

As I mentioned before EUR/USD still has strong support at 1.0459 and it tested it once, I am still expecting another test to this support level. Greece’s smoke is turned off for a while but, this topic is not closed. This topic will be the panic button for the euro buyers during 2015.

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

  • RESISTANCE: 1.1675
  • 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: 1.1660 – Take Profit 1.1460 (200 pips profits)
  • Sell at: 1.1530 – Take Profit 1.1480 (50 pips profits)
  • Buy at: 1.1350 – Take Profit 1.1550 (200 pips profits)
  • Buy at: 1.1270 – Take Profit 1.1470 (200 pips profits)
  • Buy at: 1.0990 – Take Profit 1.1090 (100 pips profits)

This signal is valid during trading week: 14th to 19th May, 2015

GBP/USD Forecast: Strong uptrend but, its end is not far away

GBPUSD 13th May, 2015

GBP/USD (currently at: 1.5745) continued uptrend run to break 1.5699 and it fell after touching 1.5766. This is what I expected in this post.

The BOE is still watching the economic data of UK with no serious action. However, the recent data was strong enough to push everyone to buy sterling pound, this is what I call the election sales. On the other hand, the dollar is still suffering from uncertainty and mixed expectations about the timing of the first rate hike. In addition, moderate to weak economic data releases had effect too on the US dollar. Sterling pound is strong enough to stay for a while within this range and the way to 1.5805 (the next major resistance) should be very easy.

My technical overview adds another space for the current uptrend rally again and I can see that there is higher chances that this uptrend will last for a while till we break 1.5805 first and then, we will see whether this trend will continue or not. This move will be struggling battles between bears and bulls during the next few days or weeks and the sideline moves will be noticed once we move above 1.5805. Buy GBP/USD and watch this resistance level: 1.5805 as a checkpoint for this rally. Our close support levels are: 1.5000 and 1.5565

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

  • RESISTANCE: 1.6000
  • 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 1.5805 – Take profit 1.5705 (100 pips profits)
  • Sell: at 1.5990 – Take profit 1.5890 (100 pips profits)
  • Buy: at 1.5650 – Take profit 1.5750 (100 pips profits)
  • Buy: at 1.5550 – Take profit 1.5750 (200 pips profits)
  • Buy: at 1.5565 – Take profit 1.5665 (100 pips profits)

This review is valid during trading week: 13th to 15th of May, 2015