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Forex Trading Tips - Week ahead of Apr 14, 2014




EURUSD

  • EURUSD moved up sharply last week, about 200 pips from the open
  • MACD turns bullish
  • Break above 1.3900 could lead to a possible rally toward 2.5-year highs at 1.3965
This is the best week for the pair since July 2013. MACD has shifted back to bullish after crossing above both its signal line and the “0” level. Slow Stochastics indicator, is approaching overbought territory, which is a concern. For this week, a confirmed breakout above 1.3900 could take the pair to 1.3965 , whereas any pullbacks would find support at the 20-day EMA at 1.3800.

GBPUSD

  • GBPUSD moved up to test 4.5-year highs near 1.6800
  • MACD is still bullish, but Slow Stochastics near overbought territory
  • Key resistance is 1.6820 level. Above that a run to 1.6900 is definitely on the cards
MACD is showing bullish momentum, but the Slow Stochastics are near overbought territory. A short-term pullback to the 20-day EMA of 1.6650 may be seen before the next rally.

- By our Forex Order Management  research team. You can use the 'Forex Order Manager' along with any manual or  automated forex trading systems to maximize your benefits.