April 01, 2012

Forex Weekly Currency Forecast and Signal for April 2 - 6, 2012

Here is my forecast for this week on $EURUSD, $GBPUSD, $AUDUSD and $USDCHF.
All life is an experiment. The more experiments you make the better.

Ralph Waldo Emerson

Good morning, I've found some time to write my Forex Weekly Currency Forecast for April 2-6, 2012. And forecast is on main currencies: EURUSD, GBPUSD, AUDUSD and USDCHF. Hope you'll find it useful.


Situation with $EURUSD is pretty clear for now; it’s like to break or not to break. As we know that the possibility of bouncing from resistance is greater than breaking it :) Therefore, my weekly currency forecast on forex market:

      If $EURUSD will bounce from resistance (price channel line), then it is more likely to go down to around 1.3170 or lower. And if it breaks the price channel, then price will go upwards to around 1.3470 – this is another resistance level and 38.2 fib from 05/05/2011. Then will bounce from this level. The strongest support/resistance levels are: 1.3470, 1.3390, 1.3294, 1.3220, 1.3180, 1.3150, 1.3100, 1.3020 and 1.2970. Watch my tweets for hourly tips and signals. And always know that you make decisions on your own risk.
(Current Price: 1.3340)


This week will give the directions to other weeks ahead. There is strong resistance (red line) on daily TF and support from weekly TF (red line). This two trend lines making some kind of triangle, range of possible movement for week is 250 - 750pips. And Weekly Currency Forecast for this week is:
      Price is going to hit the line of daily price channel and it is more likely to go down after touching this line to about 1.5845 or lower to 1.5730. If price will break the price channel above then it is possible to hit the next resistance at 1.6190 and then it is more likely to go down to the main levels. The Support/Resistance levels are: 1.6190, 1.6120, 1.5990, 1.5840, 1.5730, 1.5640 and 1.5550. This is technical analysis and price also move on news, for this please watch the real-time news and follow me on twitter to catch some of fresh ideas and signals, and subscribe to my blog for daily currency forecast on forex market.
(Current Price: 1.6006)


My setup on $AUDUSD


My setup on $USDCHF

For hot signals and my personal orders during the day on $GBPUSD follow my twitter account.
Follow jackforex on Twitter
Subscribe to my Daily Currency Forecasts by Email for more detailed predictions of intraday trading.
Have a nice day! Follow me on twitter for real-time updates and forex signals.


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