Jan12th
IMPORTANT: This free report is not an express or implied recommendation, guidance or proposal that any particular Forex analysis or trade is appropriate to the particular investment objectives, financial situation or particular needs of any recipient.
EUR/USD
Weekly Trend direction:
Bearish
Weekly trend reversal level: 1.3450
Key G7 resistance levels:
1.3000, 1.3050/80, 1.3150/80, 1.3220, 1.3300
Counter-trend opportunities:
Strategy: Whilst below the weekly trend reversal level sell rallies to resistance levels after an entry signal.
Today’s trade suggestion:
After a long decline in the Euro during the holiday weeks, the weekly direction has turned bearish. This means that we are looking to sell the euro into rallies this week, whilst below the weekly reversal level at 1.3450. First resistance is at 1.3000, roughly where the price is currently hovering. However, there are no clear signs of reversal at this stage. Watch and wait over the coming hours. If 1.3000 doesn’t hold, expect the euro to move higher to 1.3050/80 and higher before reversing. As always watch for clear signs of reversal and a G7 entry trigger before selling. First target for short positions is 1.2850.
Summary:
Sell rallies to resistance levels after a clear G7 entry signal. Target 1.2850 and then 1.2700

GBP/USD
Weekly Trend direction:
Bullish
Weekly trend reversal level:
1.5350
Key G7 resistance levels:
1.5540, 1.5500, 1.5460/30, 1.5400/20
Counter-trend opportunities:
Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal
Today’s trade suggestion:
Last week, the pound formed an “inside week” in comparison to the previous week. This is viewed as a continuation pattern, which means that we remain bullish. This pair has really made a meal of it over the holiday weeks, with random fluctuations within a large range, making it difficult to identify clear support levels. Nevertheless, we have penciled in several black lines and a Fibonacci analysis and determined rough areas of support which we will be watching this week. Continue to look to buy into dips, but be aware that the chart is messy and potentially misleading. It is possibly better to remain sidelined until we see cleaner patterns and more direction on the chart. Support levels are listed above.
Summary:
Buy dips to support levels after a clear G7 entry signal. Be somewhat sceptical of the pounds intentions this week!
