EUR/JPY Forecast

EUR/JPY Forecast: Still tempting to buy but, for Limited uptrend

EUR/JPY 17th April, 2015

EUR/JPY Analysis

EUR/JPY took another dip even it seems to be building a bullish trend as I’ve mentioned before in this post. EUR/JPY broke the strong support around 126.89 and found another support around 126.03 which seems to be the bottom line for the moment. Personally, I am still convinced that it will take a nice ride to 130 level. However, I am a little bit afraid from downtrend clouds. But, I will take the risk again and recommend to buy EUR/JPY between 126 to 127 and to take profit around 133 level. No need to mention that 135.40 is still potential target for this rally so, watch out your steps.

Important Note: In the previous post, if you followed my advices – you can see that you lost 50 pips in the 2 buy trades (100 pips in total) and won (110 pips) in single sell trade, if we sum up total pips, you won +10 pips. I’m mentioning this to make sure that everyone knows that even when my advices are not correct. You will be a winner!

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

  • RESISTANCE: 135.40
  • SUPPORT: 126.03

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

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

  • Sell: at 130.10 – Take profit 129.5 (60 pips profits)
  • Buy: at 126.5 – Take Profit 128 (150 pips profits)
  • Buy: at 127 – Take Profit 130 (300 pips profits)
  • Buy: at 127.2 – Take Profit 129 (180 pips profits)

This review is valid during trading week: 20th-24th April, 2015

GBP/USD Forecast: Inflation might pushes BOE to delay interest rate hike

GBP/USD 9th April, 2015

GBP/USD (currently at: 1.4785) is still giving a clear downtrend signal. However, the bulls are stronger than I expected and they have enough control till the moment to stay above the near support at: 1.4635. Personally, I can not recommend buying this pair at this level again even with these like-paparazzi attempts to touch the strong resistance around 1.5167 at any price.

We will wait today’s interest rate announcement from the BOE before trading this pair. I am still expecting no serious action from the BOE during April 2015 driven by the (0%) inflation rate in UK during March, 2015. This data is not encouraging to raise the interest rate so, we will have to wait till we see any real change in BOE plan. In addition, Fed. minutes are still mixed and are not giving any clear hint whether the rate hike will be in june, september or even in 2016. Fed. wants to evaluate the economic data every meeting and this will give every future meeting extra importance.

My technical overview is the same and I can not see any reason to buy GBP/USD at this level without falling to 1.4334 level. I recommend buying this pair around this level (1.4334) only and it is recommended to use good stop-loss because it might fall a little bit harder before going up to test any resistance again. Put in mind that if BOE surprised the market and pushed the raise button, we can buy GBP/USD on the break of 1.5167 safely, or wait till we see the market reaction on the surprise

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 1.4900 – Take profit 1.4800 (100 pips profits)
  • Sell: at 1.5140 – Take profit 1.5040 (100 pips profits)
  • Sell: at 1.4800 – Take profit 1.4700 (100 pips profits)
  • Buy: at 1.4340 – Take profit 1.4400 (60 pips profits)

This review is valid during trading week: 9th-15th April, 2015

Silver Forecast

Silver Forecast: Limited downtrend on the way

Silver 8th April, 2015

Silver, the Gold’s little brother had a long downtrend from (49.85 to 14.20) just like the gold from the second half of year 2011, lasted years: 2012, 2013. Year 2014 was a supportive year for the silver too with few dips to stay above the 14.20 level during the first quarter of 2015.

Currently, the bullish momentum is very weak and I can not see any real reason for the silver to go up. Metals tend to be cheaper in front of a strong dollar so, sell silver with confidence that it will test at least the 15 level since it is the closest support in this range. Notice that, I can see that even this support (around 15 level) is weak enough to be broken. We will need to wait until we reach this point before being able to say whether there will be a reversal or a continuity for the previous downtrend

Sell silver in any place around 16.80-16.50 and hold on till it hits 15 level again, I am expecting this to be slowly move

The Silver (XAG/USD) has the following major resistance and support levels:

  • RESISTANCE: 18.60
  • SUPPORT: 15

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

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

  • Sell: at 16.75 – Take profit 16 (75 pips profits)
  • Sell: at 16 – Take profit 15.5 (50 pips profits)

This review is valid during trading week(s): 8th-14th April, 2015

EUR/JPY Forecast: Tempting to buy

EUR/JPY forecast 2nd April, 2015

EUR/JPY is one of the most exciting pairs during 2014 and 2015. This pair moved within +2000 pips in less than 6 months drived by the EUR/USD and USD/JPY moves. Personally, I watched this pair and could not take the risk to trade it during the last 3 months. The risk was extremely high and the moves were wild like the angry volcano. However, these days I feel that it is the time to take some risk and jump into action. We had 3 weeks of bullish moves and this is a well-defined support around 126.89 level. With the Non-farm payroll tomorrow, I can tell that we are about to see a real trial to test strong resistance like 135.40

As I mentioned before on this USD/JPY reviewNon-farm payroll expectations are high. On 3rd April, 2015, everything will be clearer than now. Let’s take some risk and see how it goes tomorrow!

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

  • RESISTANCE: 135.40
  • SUPPORT: 126.89

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

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

  • Sell: at 128.10 – Take profit 127 (110 pips profits)
  • Buy: at 129.6 – Take Profit 131.6 (200 pips profits)
  • Buy: at 130 – Take Profit 131 (100 pips profits)

This review is valid during trading week(s): 2nd-10th April, 2015

USD/JPY Forecast

USD/JPY Forecast: March Nonfarm Payroll in Vision

usdjyp 31st, march 2015

USD/JPY fell after testing resistance at 122 level under heavy selling pressure, to find a decent support around 118.31. This move was not fast but, moving back from 118.31 to 120 again was piece of cake for the bulls. I’ve inner voice telling me that this easy uptrend is not the end of this newly-born bullish wave. However, we have 2 important resistance levels to watch at 120.45 and 122.02. If we broke those levels, you should buy and hold for a while till the pair gives a test to 123-124 levels. My previous expectations are the same however, take care from the quick falls, they are extremely dangerous in this area.

Non-farm payroll expectations are high. On 3rd April, 2015, everyone is betting that it will be one of the highest numbers in the NFP history. Personally, I am not that optimistic so, I am expecting NFP to come out around: 290K-300K which is not far away from the last month numbers and it is very supportive for a stronger dollar too.

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

  • RESISTANCE: 124
  • 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 122.8 – Take profit 122 (80 pips profits)
  • Buy: at 119.80 – Take Profit 121 (120 pips profits)
  • Buy: at 120.1 – Take Profit 121 (90 pips profits)

This review is valid during trading week(s): 1st-10th April, 2015