Revamp – Forexa.me Analysis

I had a heavy workload the last month which stopped me from keeping you updated with what’s going on in the market.

Personally, I want to concentrate more in giving better – quick – analysis while the old analyses took too much time every day from me to write and edit so, I am moving forward to write 2-3 weekly analysis (posts) that I am analyzing every week. I am unable as a person to maintain daily coverage for what’s going on especially that Forexa.me is not my only workload. Read More

Gold Forecast April

Gold Forecast: XAU/USD is heading down

XAUUSD Forecast 20th April, 2015

Gold (currently at: 1202 level) after a false breakout to 1220 level, it fell after touching 1224.45 level to find a minor support around 1183.36. The 1220 level is still a strong resistance to test one more time and due to the false breakout, we’ve to add extra pips to the current resistance to make sure that we will not lose any pips. After revising my chart, I can suggest to raise our resistance to 1235 level.

I recommend that you hold on for a while and do not open long positions for the gold, buying gold in this area seems to be a little bit dangerous (& if you do that, take profit quickly) especially that uncertainty is blurring the trend. I am still waiting for the gold to fall sharply this time before picking the right point to buy.

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

  • RESISTANCE: 1235
  • 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 1210 – Take profit 1110 (100 pips profits)
  • Sell: at 1230 – Take profit 1130 (100 pips profits)
  • Sell: at 1160 – Take Profit 1090 (70 pips profits)
  • Buy: at 1080 – Take Profit 1180 (100 pips profits)

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

USD/JPY Forecast: Strong selling pressure around 119.10

USD/JPY 17th April, 2015

USD/JPY fell again after testing strong resistance around 120.80 level, it moved back and forth during the last 2 weeks but, this time moves were not easy and the trend was not clear. Although, the same inner voice I’ve talked about in this post is still telling me that uptrend will resume soon. We will stop talking about these strong resistance levels: 120.80 or 122.02 for a while till USD/JPY finds a strong support. Based on my current analysis, I can see that we have 2 strong support levels around 116.60 and 117.50.

Non-farm payroll data was a real shock for the market watchers after expecting strong numbers, the weak numbers stressed on the market worries related to the timing of the rate hike and whether the economy is ready for it or not. Over all, it is too early to judge whether this weak NFP data is just a random fall or it is a new trend for the employment in united states. We’ve to wait for April’s report.

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 119 – Take profit 118.25 (75 pips profits)
  • Buy: at 116.90 – Take Profit 117.90 (100 pips profits)
  • Buy: at 117.60 – Take Profit 119 (140 pips profits)
  • Buy: at 118.20 – Take Profit 120 (180 pips profits)

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

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