Analysis by AlexKul

alextrader79

Well-known member
308 2
Hello!
I decided to do something useful for other traders, especially for newbies.
I'm going to share my technical analysis and forecast on different currency pairs. I don't tell you that my analysis is absolutely right, I just focus on my decisions and write about signals I see on the market.
Hope it will be useful for traders.

If you want to discuss something, feel free to comment here or write a private message to me!

Best regards,
Alex
 

alextrader79

Well-known member
308 2
An important statistical data will be published today. The report on the US labor market is in the focus of attention. The preliminary report from ADP released on Wednesday indicates a positive statistics.

I usually don’t trade during such days. Still, I’ve identified the following key levels on EUR/USD
Support - 1.0640, 1.0600
Resistance - 1.0685, 1.0740
 

alextrader79

Well-known member
308 2
USD/JPY
Support - 110.15
Resistance - 111.00, 111.75
I’ll watch how the price will react to these marks. And I’ll get to trading next Monday. I wish you all high profits!
 

alextrader79

Well-known member
308 2
The US Department of Labor published a mixed report on Friday. At the same time, the US dollar has finished the trading session in the positive zone. The dollar index has risen by more than 0.5%.
USD/JPY has kept the key demand zone at 110.15-110.35. It has triggered aggressive purchases. The closest resistance level is 111.50. I plan to open deals in the current trend’s direction. I’ll buy this pair, if the price fixes above 111.50. The goal for taking profit is the 112.00 round level.
 

alextrader79

Well-known member
308 2
The drop of EUR/USD quotations exceeded 250 points over the past 2 weeks. I don’t exclude a technical correction. I’ve identified the following key levels:
Support – 1.0570
Resistance – 1.0600
I plan to open transactions from these levels.

I’ll buy it, if the price fixes above 1.0600. Potential movement - to 1.0645.
I’ll sell, if the price fixed below 1.0570. Potential movement - to 1.0525.
 

alextrader79

Well-known member
308 2
The technical pattern on GBP/USD is ambiguous for me now. I’ve identified the key levels:
Support – 1.2405
Resistance – 1.2425

I’ll open positions after the breakthrough and retest of these levels.
I’d buy GBP/USD, if the price fixes above 1.2425. Potential movement - to 1.2460.
I’ll sell it, if the price fixes below 1.2405. Potential movement - to 1.2370.

The data on the inflation in Britain will be published today at 8:30. This event can cause a strong movement on the pair.
 

alextrader79

Well-known member
308 2
Aggressive sales were at USD/CAD yesterday. The Canadian dollar has added more than 75 points. The currency found its support at the 1.3315 level. I plan to open deals in the current trend’s direction. I’ll sell USD/CAD, if the price fixes below 1.3315. Target movement - to 1.3280.
 

alextrader79

Well-known member
308 2
Geopolitical risks in Syria and North Korea continue to grow. It increases the demand for the safe assets. I’ll sell the USD/JPY pair, if the price fixes below the 109.35 local support. Potential movement - to 109.00-108.75.
 

alextrader79

Well-known member
308 2
EUR/USD currency pair was fixed at the 1.0600 "mirror" support level during Asian trading session. It caused a "bullish" sentiment. I plan to open deals in the current trend’s direction. I’ll buy it after the breakdown and retest of the 1.0630 local resistance. The goal for taking profits is 1.0660. The growth of the MACD histogram is a confirmation signal.
 

alextrader79

Well-known member
308 2
Yesterday's comments by D. Trump put pressure on the American currency. The US president said that the dollar is too strong. Also, Trump preferred to keep the interest rates low.
Bank of Canada has kept the monetary policy at the same level. The head of the Central Bank said that the rates won’t decline in the near future. Bearish sentiments prevail on USD/CAD at the moment. I plan to open deals in the current trend’s direction. I’ll sell, if the price fixes below the 1.3230 local support level. Potential movement - to 1.3200-1.3175.
 

alextrader79

Well-known member
308 2
Aggressive purchases took place on GBP/USD since the beginning of this week. I don’t rule out a correction at the moment. I plan to wait for the price reduction to the 1.2495-1.2510 demand zone. Upon reaching this mark, I’ll think of buying the pair.
At the same time, if the pound rally continues and the price fixes above the 1.2570 local resistance, I will also buy GBP/USD. The goal for taking profit is 1.2610.
 

alextrader79

Well-known member
308 2
Today, most financial markets are closed due to Good Friday. I expect lower volatility and trading activity. That’s why I won’t open positions. At the same time, the data on the US inflation will be released at 12:30 (GMT). This event can cause quite strong moves on the major currency pairs. I’ve identified the following key levels on EUR/USD.

Support levels: 1.0570
Resistance levels: 1.0630, 1.0675, 1.076
 

alextrader79

Well-known member
308 2
USD/JPY, the key levels:
Support levels: 108.75
Resistance levels: 109.35, 109.85, 110.40

I’m going to watch how the price will react to them, but will be back to trading on Monday.
Wish you all high profits!
 

alextrader79

Well-known member
308 2
The situation on USD/JPY is ambiguous for me now. On the one hand, the technical pattern indicates a correction. There is also a strong reversal formation on this currency pair: the divergence of the price and the MACD histogram. On the other hand, a tense situation in North Korea supports the demand for safe assets. I’ll open deals after the breakthrough and retest of the key levels.

I’ll buy it, if the price fixes above the 109.35 level. Potential movement - to 109.85.
I’ll sell it, If the price fixes below the 108.75 level. The goal for taking profit is 108.15.
 

alextrader79

Well-known member
308 2
I expect to see "bullish" sentiments on EUR/USD today. The key trading range is 1.0635-1.0650. I’ll buy the pair, if the price fixes above 1.0650. The target mark is 1.0675-1.0700. This deal will be short-term and speculative.
 

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