8 Forex Technical Trading Tools & Analysis 2 - EURUSD & GBPUSD thru Week of 4.22

This forex video supports our market view report for the week dated the end of April 15, 2011. For a complete report pls. visit our website: http://www.megatrade101.com

The closing prices across the board for the EURUSD & the GBPUSD has shown that there is still enough room to move higher for the major pairs. With the Pound steadier would provide a stronger support for the EURO to move higher influencing the EURGBP Cross rate. We do stand with our analysis that certain corrective movements are expected within a major trend.
Although, the daily indicators for both pairs indicates some corrections but definitely not a market trend reversal. Price reversals are made for a shorter term period until a fresh incentive would indicate otherwise.

With this said, the overall analysis for the coming week would signify a continuation for the European currencies to move higher and expect some daily corrective movements as well. Range outlook for EURGBP@ 0.8950-0.9050 or better; corrective moves for the EURUSD but trend still bullish. Spill-over effects would extend until 4.27 towards the closing of the month's trading.

Depending on VOI in futures contracts. pay close attention to price behavior as bearish signals are in place which could lead to a buyers trap especially towards a shorter trading week due to the market holiday towards Good Friday! Expect higher volatility and major market movements before and after the 22nd of April. This means a wider price trading range of 150-250 pips in between trading sessions. The European trading sessions may eventually lead the market this coming week. Knowing the market outlook is not enough! Handling the market against any adverse price fluctuation can be done only with the proper trading strategies and is another story that one needs to carefully plan. Pls. refer to our article on" Strategic FX Trading Techniques" on our website for some guidelines.

Precious metals on Gold prices will change only after USD1500/troy oz. would be achieved in line with inflation adjusted price levels and the Dow Jones Index market price. And this would also include the USDX reaching its extension lower and establishing an all time record low.

The following technical tools are being used in determining a sound trading decision:

1. Japanese Candlestick Theory
2. Three (3) Methods of the Fibonacci Theory Supports / Resistances
3. Exponential Moving Average (21D/W/M)
4. Momentum
5. Relastive Strength Index
6. Stochastics / Stochastics RSI
7. Volume Open Interest Financial Futures
8. Moving Average Convergence/Divergence

Other applications being used are : The Elliot Wave theory, Equidistant Channel & Donchian Theory, idiosyncracy and behavioral patterns of the market and the Price page Indicator correlation between Spot and Futures markets, including the US Dollar Index

For more forex articles and market analysis reports; pls. visit http://www.megatrade101.com
For Inquiries email us: info@megatrade101.com

Disclaimer: This market outlook and analysis is for educational and informational purposes and should not be considered as a recommendation or an invitation to trade the Foreign Exchange Market. Past performances are not indicative of future results. Consider your financial conditions and consult an authorized financial adviser.

Category:

Education

Tags:

• cross trading
• cross rates
• hedging
• strategies
• USD
• US dollar Index
• investing
• forex trading
• GBPUSD
• USDCHF
• EURGBP
• AUDUSD
• NZDUSD

[MyBubu77]

Hey there! Have you considered the British Box Breakout (search on google)? Ive heard some extraordinary things about it and my cooworker made tons of cash.

[bir0610]

insightful video. i dunno if this might be the right video to ask.. has anyone heard of the forex autogalactus? you can google it. my dad says its the ultimate forex thing out there cuz they are making loads cash with it.. i am considering buying it.

[lasithlsw]

decent video. i dunno if this should be the right video to ask.. has anyone ever tried using the forex autogalactus? you can do a search for it. my friend says its the best forex thing out there because they are making huge amounts of cash with it.. i am contemplating buying it.