SUPPORT & RESISTANCE FOR EUR/USD

R5 - 1.1010 16 Dec high
R4 - 1.0993 * 28 Dec high
R3 - 1.0946 * 4 Jan high
R2 - 1.0900 figure
R1 - 1.0853 31 Dec low

S1 - 1.0773 intraday level
S2 - 1.0711 * 5 Jan low
S3 - 1.0689 25 Nov high
S4 - 1.0638 27 Nov high
S5 - 1.0600 figure

Recovery from the 1.0711/16 lows to regain the 1.0800 level fades downside pressure and triggers stronger push towards the 1.0853 resistance. Beyond this will see scope to retest the 1.0900 level and 1.0946 high. Support now at 1.0773 then the 1.0711 low.

SUPPORT & RESISTANCE FOR EUR/USD (SIGNAL)

For today

R4 - 1.0992 / R3 - 1.0956 / R2 - 1.0944 / R1 - 1.0839

SPOT 1.0822

S1 - 1.0781 / S2 - 1.0763 / S3 - 1.0689 / S4 - 1.0638  

LONG AT 1.0750 FOR 1.0950; STOP AT 1.0638

How to trade support & resistance levels

Happy and profitable year 2016

Wish you all a highly profitable Happy New Year 2016!!!I will start with some quick overview of this year's FOREX future outlook. FED has already started rising the interest rate and this process will continue through this year and the expectations are for it to reach around 1.35% by the end of this year. It is also expected USD to gain strength against all major currencies except GBP. The biggest loosers are expected to be AUD and NZD. However i must say that these are not my expectetions, but these are mostly rumors. In fact the real picture for the EUR will be more bearish than bullish this year. Parity with dollar is closer than ever and will become reality in a few months. I expect the EUR to drop below 1.00 this year too. For now i can figure out 0.96 as a potential target.Let's take now a look over the charts:EUR will look for support at 1.0820, first resistance comes at 1.0880, then 1.0920, and the bearish outlook will be reversed obly above 1.0945. On the other side a drop below 1.0800 will start a fresh downside move to 1.0690 and 1.0590. Then the pair will look for support around 1.0540 which was the last month's bottom.GOLD will continue to loose price however some quick jumps to 1072 are possible. Gold is into a downside trend which can be seen on Weekly and Monthly. Daily chart shows some consolidation to bearish move. Support area is 1050. For now every jump will be used to open short positions at a better price. Jumps over 1085 are not expected for now as my indicators keep telling me.NZD bounced back from the 0.6880 resistance but still doesn't give up with the idea to reach and attack the main resistance at 0.6950. If we have a clear break there the move will continue to 0.71. NZD will rely on two main supports, the first one is 0.6780 and the second one is 0.6760. if the second one is broken then a 100 pips drop will follow and maybe more.AUD price is locked in a 100 pips range between 0.7240 and 0.7340. It is not clear enough what direction will develop so you'd better stay away until one of the above is broken.JPY met some problems at 123.00-124.00 area, and unhappyly returned back to 120.00 support. Once below 120.00 the pair will target 118.50 support.GBP has finished last month of 2015 with a signficant slide, we had a big slide in november 2015 too. There is a support at 1.4650 which may stop the continuous slide. On all time frames the pair is extremely bearish and more slide is expected soon.RUB has a high volatility during the last day of 2015. The pair remains bullish above 70.00. Once above 73.50 you may enter LONG for 75.00 and above. Below 69.50 the pair will look for support at 67.50, but this is the less possible scenario for now.
Good luck!!!

http://www.fxstreet.com/analysis/todays-forex-forecast/2016/01/03/

buy GBPUSD (W1)

buy @ 1.4740 for 1.4790; stop @ 1.4640

Happy New Year !!!