EUR/USD Forecast: Downtrend in control

EUR/USD 21st, April 2015

EUR/USD Analysis

EUR/USD fell again after another test to 1.1050 range and found a minor support around 1.0655. The uptrend is very limited and the trading range too. I am expecting EUR/USD to keep on sideline moves in the next 2 days with a trial to test the resistance line around 1.0950, I am still not recommending to trade EUR/USD really till things become much trendy but, if you’ve to do that so, Selling is your only option (~Watch resistance levels closely).

The EUR/USD still has a minor support at 1.0459 and it tested it once, I am still expecting another test to this support level. Greece’s smoke is still there and it feels like this story will never end. Watch out your steps because the EUR is ready to fall again in no time!

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

  • RESISTANCE: 1.1055
  • 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: 1.0940 – Take Profit 1.0890 (50 pips profits)
  • Sell at: 1.0910 – Take Profit 1.0850 (60 pips profits)
  • Buy at: 1.0650 – Take Profit 1.0750 (100 pips profits)

This signal is valid during trading week: 21st-24th 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:

  • 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