GBP/USD Forecast: Strong uptrend will last or .. ?

GBPUSD 29th April, 2015

GBP/USD Analysis

GBP/USD (currently at: 1.5420) broke the strong resistance 1.5429 easily and had a rally during the last week as I’ve previously mentioned in my previous post.

The BOE is still watching the economic data of UK with no serious action. On the other hand, the dollar is suffering from uncertainty and mixed expectations about the timing of the first rate hike. Sterling pound will stay for a while within this range and the way to 1.5805 (the next major resistance) should not be that easy.

My technical overview adds extra space for the current uptrend rally and I can see that there is higher chances that this uptrend will last for a while till we touch 1.5805. The move will be slower a little bit than what happened the last 48 hours. I recommend buying this pair with caution this time because mixed moves might occur sharply. Buy GBP/USD and watch these resistance levels: 1.5699 and 1.5805 as checkpoints for this rally. Our close support levels are: 1.5000 and 1.4565

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

  • RESISTANCE: 1.5805
  • 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 1.5680 – Take profit 1.5600 (80 pips profits)
  • Sell: at 1.5790 – Take profit 1.5690 (100 pips profits)
  • Buy: at 1.5350 – Take profit 1.5500 (150 pips profits)
  • Buy: at 1.5250 – Take profit 1.5350 (100 pips profits)
  • Buy: at 1.5010 – Take profit 1.5090 (80 pips profits)

This review is valid during trading week: 29th-30th April – 1st of May, 2015

EUR/USD Forecast: Deceive moves

EURUSD 29th April, 2015

EUR/USD Analysis

EUR/USD is testing the resistance range 1.1050 right now after having a stable support around 1.0655. The limited uptrend is trying to deceive us by moving up like it is taking off however, I can not see any reason to buy Euro for long term and definitely it is not reversing the fundamental downtrend so, I’ll respect the short term uptrend by buying quickly and lock the profits quickly too. I am expecting EUR/USD to keep on sideline moves in the next week with attempt to test higher resistances around 1.1250 and 1.1450, I am interested to hunt the best short position during the next few weeks.

As I mentioned before 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 lowered by a hope to find a way to end this dilemma.

Today, Fed meeting is not promising with any surprises, I am expecting the same language from the fed and a stress on a near rate hike (suggested June). They want to keep the market on this phase to the maximum time.

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

  • RESISTANCE: 1.1250
  • 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: 1.1110 – Take Profit 1.1000 (90 pips profits)
  • Sell at: 1.1230 – Take Profit 1.1130 (100 pips profits)
  • Buy at: 1.0990 – Take Profit 1.1090 (100 pips profits)

This signal is valid during trading week: 29th-30th April and 1st May, 2015

Silver Forecast: Downtrend suspended for a while?

Silver 27th April, 2015

Silver bounced from 15.58 (higher than my previous expectation) to 16.40 in one shot.

The bullish momentum seems to be stronger now and it seems that we are ready to test this range (17.40-17.90). However, I can not confirm that this is the end of the downtrend. I am still waiting for cheaper silver to buy for long term.

Sell silver in any place around 17.80 and hold on till it hits 15 level again, I am expecting this to be slowly move as the previous one!

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 17.80 – Take profit 17 (80 pips profits)
  • Sell: at 17.50 – Take profit 17 (50 pips profits)
  • Sell: at 17.20 – Take profit 16.50 (70 pips profits)

This review is valid during trading week: 27th-30th April, 2015

GBP/USD Forecast: Mixed trends

GBP/USD 22nd, April 2015

GBP/USD Analysis

GBP/USD (currently at: 1.5025) seems to be attractive for the buyers. I am changing my technical look to this pair for a while.

The BOE is not behind this move, the US dollar is weaker against sterling pound and it is clear that this weakness is the main reason behind what is happening. BOE is watching the inflation of England and we’ve to wait till things become much obvious.

My technical overview has a limited change and I can see that there is limited uptrend and this is a reason to buy GBP/USD with caution. I recommend buying this pair around this level (1.5000-1.5030) only and it is recommended to use small stop-loss because it might fall hard again in any time. We can buy GBP/USD and watch these resistance levels: 1.5185 and 1.5429

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

  • RESISTANCE: 1.5429
  • 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 1.5395 – Take profit 1.5295 (100 pips profits)
  • Buy: at 1.5050 – Take profit 1.5120 (70 pips profits)
  • Buy: at 1.5020 – Take profit 1.5070 (50 pips profits)
  • Buy: at 1.5000 – Take profit 1.5100 (100 pips profits)

This review is valid during trading week: 22nd-24th April, 2015

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