Weekly Market Analysis

( 10 To 15 March, 2014)

EUR/USD Market Analysis:

Present Scenario:  As we know EURUSD pair already broken  the most important daily resistance 1.38 zone ( Now price level about 2.4  years high) .  So price can move more higher level and it may hit 1.40 level in near future.  Another issue, after hitting diagonal resistance price level now in bearish momentum and it may come again  towards 1.382 (Fibo Expansion: 61.8) level and from here it may again rebound towards 1.3977 (Fibo Expansion: 100) level where have important diagonal resistance.

Technical Overview:

Current Candle: Normal Shooting Star ( Body: Bullish) ( Time Frame: Daily)

Trend: Bullish Trend

Weekly Pivot: S3: 1.3391, S2: 1.3573, S1: 1.3686, PP: 1.3755, R1: 1.3867, R2: 1.3937, R3: 1.4118

GBP/USD Market Analysis:

Present Scenario: Last trading session GBPUSD pair retest 1.677 level again and seems price find strong resistance at 1.677 level.  So from this level price can take some bearish momentum towards fibo 50% retracement level (1.654 level).

Another scenario: If price level break 1.68 level then it may move towards 1.70 level.

Technical Overview:

 Weekly Pivot:S3: 1.6324, S2: 1.6510, S1: 1.6622, PP: 1.6695, R1: 1.6808, R2: 1.6881, R3: 1.7066

Trend: Bullish Trend

Candle Structure: Shooting Start, ( Body: Bearish), ( Time Frame: Daily)

USD/CHF Market Analysis:

Present Scenario: According to daily chart USDCHF price level now in strong bearish trend and price broke important support 0.88 zone. Price now in diagonal support 0.877 level.  From here price can take some short correction towards 0.883 level, after that it may move again towards very important demand zone where have fibo 100% expansion.

Technical Overview:

 Weekly Pivot: S3: 0.8526, S2: 0.8679, S1: 0.8734, PP: 0.8832, R1: 0.8887, R2: 0.8985, R3: 0.9137

Trend: Bearish Trend

Candle Structure: Strong Bearish, ( Body: Bearish), ( Time Frame: Daily)

USD/JPY Market Analysis:

Present Scenario: After hitting diagonal resistance USDJPY pair try to take some pullback. And it may come towards 102.65 level and from here it may again rebound towards 103.55 level.

Technical Overview:

 Weekly Pivot: S3: 99.74, S2:100.87, S1: 101.32, PP: 102.00, R1: 102.45, R2: 103.13, R3: 104.26

Trend: Bullish Trend

Candle Structure: Normal Shooting start ( Body: Bullish), ( Time Frame: Daily)

AUD/USD Market Analysis:

Present Scenario: After hitting important diagonal resistance AUDUSD pair now in bearish momentum. So price level should move now towards 0.90 level where have fibo 50% retracement.

Technical Overview:

 Weekly Pivot: S3: 0.8669, S2:0.8815, S1: 0.8872, PP: 0.8960, R1: 0.9017, R2: 0.9105, R3: 0.9251

Trend: Bullish Trend ( Bearish Turning)

Candle Structure: Bearish Candle( Body: Bearish), ( Time Frame: Daily)

Thank You

USA admin@fxsuccessbd.com

Weekly Market Analysis