Daily Analysis and Predictions

Emir Cehaic

Emir Cehaic

EURUSD

Timeframe: Daily

Date: 03/31/2014

Pattern occurred: No Pattern

Entry: 1.3747

Target Level: 1.3696

Stop Loss: 1.3810

Analysis:

We first saw a downwards move during the session on Friday, which almost reached our target, after which the trend changed and the price closed at 1.3754. As usual, with our trade management and closing part of the position, or even the complete trade, and moving the stop loss to break even, this turned out to be a profitable trade.


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GBPUSD

Timeframe: Daily

Date: 03/31/2014

Pattern occurred: No pattern

Entry long: 1.6565

Target long: 1.6615

Stop loss long: 1.6515

Analysis:

Price continued to rise during Friday’s session with the close at 1.6642. Since we’ve just collected our profits on Thursday and closed the trade, we won’t be jumping into another trade just yet. We’ll continue to observe the price movement and be on the lookout for the possible short trade should the price reach the upper channel line and bounce back or for a possible long trade should the price break out of the channel, above the upper channel line.


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USDJPY

Timeframe: Daily

Date: 03/31/2014

Pattern occurred: No pattern

Entry short: 101.200

Target short: 100.765

Stop loss short: 101.620

Entry long: 102.680

Target long: 103.090

Stop loss long: 102.180

Analysis:

We saw an upwards move during Friday’s session and close at 102.800. That move triggered our long trade with the target at 103.090 and stop loss at 102.180. As I expect the uptrend to continue, when the trade reaches 50% of the target, we can move our stop loss to break even. For a more conservative approach, we can close the 50% of the position when that occurs.


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AUDUSD

Timeframe: Daily

Date: 03/31/2014

Pattern occurred: No pattern

Analysis:

Price fell during Friday’s session and closed at 0.9248. Since there is no clear signal to enter the trade, we’ll continue to observe price movement. A possible bounce off of the upper channel line, once the price reaches it, will open up an opportunity to enter a sell trade.


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Good luck and trade safe!

Emir Cehaic

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