# "Forex Levels" - Daily EURUSD and GBPUSD forecast



## Ivan Urupa (8 November 2011)

Hi all!

In this topic, every day, before the opening of the European session I'll publish trading recommendations on two major currency pairs EURUSD and GBPUSD.

Analysis and forecasting of currency market is on the system "Forex Levels" which are based on a pair of moving averages, support and resistance levels, and a simplified wave markup.


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## Ivan Urupa (8 November 2011)

*EURUSD [H1]*

The pair is in a sideways trend. Resistance levels is seen at 1.3814-1.3866, and if the market breaks above that levels we can expect an uptrend to develop with the upside target set at resistance level 1.3972.

If the pair breaks under support level 1.3694, a downtrend will start with the downside target set at support level 1.3597.



Support levels: 1.3694, 1.3656, 1.3597

Resistance levels: 1.3814-1.3866, 1.3972








*GBPUSD [H1]*

The pair is in a sideways trend. Resistance level is seen at 1.6066, and if the market breaks above that levels we can expect an uptrend to develop with the upside target set at resistance level 1.6130.

If the pair breaks under support level 1.6000, a downtrend will start with the downside target set at support level 1.5905.


Support levels: 1.6000, 1.5945, 1.5905

Resistance levels: 1.6066, 1.6130


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## Ivan Urupa (9 November 2011)

*EURUSD [H1]*

The pair is in a sideways trend. Resistance level is seen at 1.3866, and if the market breaks above that level we can expect an uptrend to develop with the upside target set at resistance level 1.3972.

If the pair breaks under support level 1.3773, a downtrend will start with the downside target set at support level 1.3694.



Support levels: 1.3773, 1.3694

Resistance levels: 1.3866, 1.3972







*GBPUSD [H1]*

The pair is in a sideways trend. Resistance level is seen at 1.6130, and if the market breaks above that level we can expect an uptrend to develop with the upside target set at resistance level 1.6272.

If the pair breaks under support level 1.6040, a downtrend will start with the downside target set at support level 1.5958.



Support levels: 1.6040, 1.6000, 1.5958

Resistance levels: 1.6130, 1.6176, 1.6272


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## Ivan Urupa (10 November 2011)

*EURUSD [H1]*

The pair is trading along a downtrend. Support level 1.3520 is seen on the way down of its further development, and if the market breaks under that level we can expect the downtrend to continue and drop to support level 1.3438.

If the pair will have no possibility of getting below support level 1.3520 and will subsequently rise above resistance level 1.3597, we can expect an uptrend to develop towards resistance 1.3656 and below towards resistance level 1.3695.


Support levels: 1.3520, 1.3438

Resistance levels: 1.3597, 1.3656, 1.3695







*GBPUSD [H1]*

The pair is trading along a downtrend. Support level 1.5905 is seen on the way down of its further development, and if the market breaks under that level we can expect the downtrend to continue and drop to support level 1.5880 and below towards support level 1.5819.

If the pair will have no possibility of getting below support level 1.5905 and will subsequently rise above resistance level 1.65960, we can expect an uptrend to develop towards resistance 1.6000 and below towards resistance level 1.6047.


Support levels: 1.5905, 1.5880, 1.5819

Resistance levels: 1.5960, 1.6000, 1.6047


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## Ivan Urupa (11 November 2011)

*EURUSD [H1]*

The pair is in a sideways trend. Resistance levels is seen at 1.3642-1.3695, and if the market breaks above that level we can expect an uptrend to develop with the upside target set at resistance level 1.3833.

If the pair breaks under support level 1.3541, a downtrend will start with the downside target set at support level 1.3438.



Support levels: 1.3541, 1.3438

Resistance levels: 1.3642-1.3695, 1.3773, 1.3833







*GBPUSD [H1]*

The pair is in a sideways trend. Resistance level is seen at 1.5965, and if the market breaks above that level we can expect an uptrend to develop with the upside target set at resistance level 1.6047.

If the pair breaks under support levels 1.5908-1.5883, a downtrend will start with the downside target set at support level 1.5710.



Support levels: 1.5908-1.5883, 1.5819, 1.5710

Resistance levels: 1.5965, 1.6000, 1.6047


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## Ivan Urupa (14 November 2011)

*EURUSD [H1]*

The pair is in a sideways trend. Resistance level is seen at 1.3833, and if the market breaks above that level we can expect an uptrend to develop with the upside target set at resistance level 1.3972.

If the pair breaks under support level 1.3694, a downtrend will start with the downside target set at support level 1.3541.


Support levels: 1.3694, 1.3642, 1.3594, 1.3541

Resistance levels: 1.3833, 1.3972







*GBPUSD [H1]*

The pair is in a sideways trend. Resistance levels is seen at 1.6088-1.6130, and if the market breaks above that level we can expect an uptrend to develop with the upside target set at resistance level 1.6272.

If the pair breaks under support levels 1.6046-1.6000, a downtrend will start with the downside target set at support level 1.5908.


Support levels: 1.6046-1.6000, 1.5960, 1.5908

Resistance levels: 1.6088-1.6130, 1.6177, 1.6272


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## Boggo (14 November 2011)

Ivan Urupa said:


> *EURUSD [H1]*
> The pair is in a sideways trend. Resistance level is seen at 1.3833, and if the market breaks above that level we can expect an uptrend to develop with the upside target set at resistance level 1.3972.
> 
> If the pair breaks under support level 1.3694, a downtrend will start with the downside target set at support level 1.3541.
> ...




Thats interesting that your two resistance levels coincide with the "Min Wave C" and the "Typical Wave C" levels.
Out of interest how did you calculated those values ?

The upward attempt has failed to make it past the recent high and looks like the downward motion may be in progress below 1.37347

This is the 15 min live chart at approx 1635 SA time.
(click to expand)


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## Ivan Urupa (15 November 2011)

*EURUSD [H1]*

The pair is trading along a downtrend. Support levels 1.3594-1.3541 is seen on the way down of its further development, and if the market breaks under those levels we can expect the downtrend to continue and drop to support level 1.3485 and below towards support level 1.3438.

If the pair will have no possibility of getting below support levels 1.3594-1.3541 and will subsequently rise above resistance level 1.3642, we can expect an uptrend to develop towards resistance 1.3695 and above towards resistance level 1.3773.


Support levels: 1.3594-1.3541, 1.3485, 1.3438

Resistance levels: 1.3642, 1.3695, 1.3773







*GBPUSD [H1]*

The pair is trading along a downtrend. Support levels 1.5883-1.5861 is seen on the way down of its further development, and if the market breaks under those levels we can expect the downtrend to continue and drop to support level 1.5818 and below towards support level 1.5710.

If the pair will have no possibility of getting below support levels 1.5883-1.5861 and will subsequently rise above resistance levels 1.5908-1.5944, we can expect an uptrend to develop towards resistance 1.6000 and above towards resistance level 1.6088.


Support levels: 1.5883-1.5861, 1.5818, 1.5710

Resistance levels: 1.5908-1.5944, 1.6000, 1.6088


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## Ivan Urupa (16 November 2011)

*EURUSD [H1]*

The pair is trading along a downtrend. Support level 1.3438 is seen on the way down of its further development, and if the market breaks under that level we can expect the downtrend to continue and drop to support level 1.3341.

If the pair will have no possibility of getting below support level 1.3438 and will subsequently rise above resistance level 1.3541, we can expect an uptrend to develop towards resistance 1.3594 and above towards resistance level 1.3642.


Support levels: 1.3438, 1.3341

Resistance levels: 1.3541, 1.3594, 1.3642







*GBPUSD [H1]*

The pair is trading along a downtrend. Support level 1.5710 is seen on the way down of its further development, and if the market breaks under that level we can expect the downtrend to continue and drop to support level 1.5667 and below towards support level 1.5575.

If the pair will have no possibility of getting below support level 1.5710 and will subsequently rise above resistance level 1.5818, we can expect an uptrend to develop towards resistance 1.5861 and above towards resistance level 1.5908.


Support levels: 1.5710, 1.5667, 1.5575

Resistance levels: 1.5818, 1.5861, 1.5908


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## Joe Blow (16 November 2011)

Boggo said:


> Thats interesting that your two resistance levels coincide with the "Min Wave C" and the "Typical Wave C" levels.
> Out of interest how did you calculated those values ?




Ivan, please note that those posting analysis here at ASF are obligated to respond to those who have questions about that analysis.

If you do not respond to questions such as the one I have quoted in this post, then I will assume that you have no intention of being a genuine member of this community and this thread will be closed.


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## Ivan Urupa (16 November 2011)

Boggo said:


> Thats interesting that your two resistance levels coincide with the "Min Wave C" and the "Typical Wave C" levels.
> Out of interest how did you calculated those values ?
> 
> The upward attempt has failed to make it past the recent high and looks like the downward motion may be in progress below 1.37347
> ...




Hi, good coincidence)) 
I don't look for LR and LS at T (M15) for my forecast. I sometimes use it for my trading. 
I use T (H1) and above for calculating value levels.


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## Boggo (17 November 2011)

Ivan Urupa said:


> Hi all!
> 
> In this topic, every day, before the opening of the European session I'll publish trading recommendations on two major currency pairs EURUSD and GBPUSD.
> 
> Analysis and forecasting of currency market is on the system "Forex Levels" which are based on a pair of moving averages, *support and resistance levels, and a simplified wave markup.*




How do you define/calculate the wave markup ?



Ivan Urupa said:


> Hi, good coincidence))
> I don't look for LR and LS at T (M15) for my forecast. I sometimes use it for my trading.
> I use T (H1) and above for calculating value levels.




I am assuming that T = time, what does LR and LS mean ?

Assuming they refer to resistance, how do you calculate the resistance level regardless of whether they refer to it or not ?

At the moment it looks like you are saying "if it goes down this far it will go down further and if it goes up this far it will go up further"

I am interested in how you establish/calculate these targets ?



> Support levels: 1.5710, 1.5667, 1.5575
> 
> Resistance levels: 1.5818, 1.5861, 1.5908


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## Ivan Urupa (18 November 2011)

*EURUSD [H1]*

The pair is in a sideways trend. Resistance level is seen at 1.3541, and if the market breaks above that level we can expect an uptrend to develop with the upside target set at resistance level 1.3642.

If the pair breaks under support level 1.3438, a downtrend will start with the downside target set at support level 1.3341.


Support levels: 1.3438, 1.3341

Resistance levels: 1.3541, 1.3594, 1.3642







*GBPUSD [H1]*

The pair is in a sideways trend. Resistance level is seen at 1.5818, and if the market breaks above that level we can expect an uptrend to develop with the upside target set at resistance level 1.5908.

If the pair breaks under support levels 1.5710-1.5667, a downtrend will start with the downside target set at support level 1.5575.


Support levels: 1.5710-1.5667, 1.5575

Resistance levels: 1.5818, 1.5908








add *XAUUSD [H1]*


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## Ivan Urupa (21 November 2011)

*EURUSD [H1]*

The pair is in a sideways trend. Resistance level is seen at 1.3541, and if the market breaks above that level we can expect an uptrend to develop with the upside target set at resistance level 1.3695.

If the pair breaks under support level 1.3505, a downtrend will start with the downside target set at support level 1.3456.


Support levels: 1.3505, 1.3456, 1.3438, 1.3341

Resistance levels: 1.3541, 1.3590, 1.3695







*GBPUSD [H1]*

The pair is trading along a downtrend. Support level 1.5710 is seen on the way down of its further development, and if the market breaks under that level we can expect the downtrend to continue and drop to support level 1.5575.

If the pair will have no possibility of getting below support level 1.5710 and will subsequently rise above resistance level 1.5803, we can expect an uptrend to develop towards resistance 1.5908.


Support levels: 1.5710, 1.5667, 1.5575

Resistance levels: 1.5803, 1.5840, 1.5908







add *XAUUSD [H1]*


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## financialdonk (21 November 2011)

I'm struggling to see the point of this thread.

Are you copying and pasting from another source? There seems to be little in the way of analysis.


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## Boggo (22 November 2011)

financialdonk said:


> Are you copying and pasting from another source? There seems to be little in the way of analysis.




I tend to suspect that he is.
He doesn't seem to know how the levels that he is quoting are produced and at the moment it just looks like an each way bet which has a 50/50 outcome which is untradeable.
The current posts serve no real purpose other than perhaps sucking a few into some flashy software/subscription if that is the eventual intention otherwise I am at a loss to understand the one sided commentary that seems to have a bet each way.


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## Ivan Urupa (22 November 2011)

Hello, I'm author of this forecasts, if you have questions by then - ask it please.
This is not spam, because my predictions come true in 7-8 cases out of ten. On our site you can find trading report compiled according to the forecasts in a live trade, which confirms my words. We offer our quality daily trading recommendations free of charge, so you can use it or not. But this is really free and will be free all the time. If it will help you in trading, I will be appreciate.

may be you want to know how this forecasts made?


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## Ivan Urupa (22 November 2011)

*EURUSD [H1]*

The pair is in a sideways trend. Resistance level is seen at 1.3541, and if the market breaks above that level we can expect an uptrend to develop with the upside target set at resistance level 1.3636.

If the pair breaks under support level 1.3438, a downtrend will start with the downside target set at support level 1.3341.


Support levels: 1.3438, 1.3341

Resistance levels: 1.3541, 1.3590, 1.3636







*GBPUSD [H1]*

The pair is in a sideways trend. Resistance level is seen at 1.5667, and if the market breaks above that level we can expect an uptrend to develop with the upside target set at resistance level 1.5803.

If the pair breaks under support level 1.5548, a downtrend will start with the downside target set at support level 1.5440.


Support levels: 1.5548, 1.5485, 1.5440

Resistance levels: 1.5667, 1.5727, 1.5803


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## Boggo (22 November 2011)

Ivan Urupa said:


> Hello, I'm author of this forecasts, if you have questions by then - ask it please.
> 
> may be you want to know how this forecasts made?




Refer to post #12 above.


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## peter2 (22 November 2011)

Posting trading levels without guidance is not helpful. There is no accountability. 
There is no reason (other than boredom, my excuse) for anyone to consider using your levels. 

No-one can trade profitably without a trading plan and sound money management rules. 

I am going to post some trade management suggestions that are based on the levels you have posted over the past 10 days. I will also show the trade results based on these trading suggestions. 

Entry: using pending stop orders at the nearest (1st) support/resistance levels. 
Initial Stop Loss:  EURUSD - 50p  (GBPUSD - not included)

Exits: 
(a) - exit at 2nd support/resistance level or the stop loss. Whichever occurs first.
(b) - exit at 3rd support/resistance level or a trailing stop equal to the size of the stop loss.
(c) - exit at the opposite support/resistance level notified the next morning. 
      eg. if long overnight then the exit is the first new support level.

*EURUSD* - 10 Days - 10 trades (no levels posted 17/11/11, I used the prior day's levels as they don't change much and it was a losing trade). Today's (22/11) trade is open and not included in results.

All exits produced 7/10 winning trades risking a total of 500p. 

Exit (a) produced +235p (expectancy 0.47)
Exit (b) produced +460p (expectancy 0.92)
Exit (c) produced +608p (expectancy 1.22) 

Note: 10 trades is not enough to gauge reliability of system. 

These results might trigger further research. IMO the fx prices do bounce from one S/R level to another and there is merit in using them in a systematic way.


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## Ivan Urupa (23 November 2011)

This is not trading signals, just forecasts. If this levels is not helpful for you - don't read.
You can looks on this levels, but need to trade by your trading system.
If want to know more about this levels, how to trade by them (how to use it in trading system), I can teach.
Trading signals I will start to post some later.


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## peter2 (23 November 2011)

All you have done is draw lines and "forecast" that price may go up or it may go down. This is not news to most of us.

If you really want to enlighten the readers then you should add more information, such as a basic trading strategy. 

If you are merely trying to advertise your "training" services then show us that you know something of value.


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## Ivan Urupa (24 November 2011)

*EURUSD [H1]*

The pair is trading along an uptrend. Resistance levels 1.3437-1.3456 is seen on the way of the further upside, and if the market breaks above those levels we can expect the uptrend to continue and get to resistance level 1.3506 and above towards resistance level 1.3541.

If the pair will have no possibility of rising above resistance levels 1.3437-1.3456 and will subsequently drop below support level 1.3340, we can expect a downtrend to develop towards support level 1.3238 and below towards support level 1.3174.


Support levels: 1.3340, 1.3238, 1.3174

Resistance levels: 1.3437-1.3456, 1.3506, 1.3541








*GBPUSD [H1]*

The pair is trading along an uptrend. Resistance level 1.5586 is seen on the way of the further upside, and if the market breaks above that level we can expect the uptrend to continue and get to resistance level 1.5667.

If the pair will have no possibility of rising above resistance level 1.5586 and will subsequently drop below support levels 1.5548-1.5522, we can expect a downtrend to develop towards support level 1.5485 and below towards support level 1.5440.


Support levels: 1.5548-1.5522, 1.5485, 1.5440

Resistance levels: 1.5586, 1.5667


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## Boggo (24 November 2011)

Ivan Urupa said:


> This is not trading signals, just forecasts. If this levels is not helpful for you - don't read.
> You can looks on this levels, but need to trade by your trading system.
> If want to know more about this levels, how to trade by them (how to use it in trading system), *I can teach*.
> Trading signals I will start to post some later.




Seriously Ivan, your posts waste of good bandwidth at the moment.
You need to be able to explain what you are posting before you can teach !




peter2 said:


> All you have done is draw lines and "forecast" that price may go up or it may go down. This is not news to most of us.
> 
> If you really want to enlighten the readers then you should add more information, such as a basic trading strategy.
> 
> If you are merely trying to advertise your "training" services then show us that you know something of value.




He has learned to copy and paste peter2, learning what he is copying and pasting is taking a while longer to figure out.
Let's guess what tomorrow's opening line will be, will it start with "the pair is trading along an uptrend, downtrend or a sideways trend" and if it goes up it will go this way and if it goes down it will go this way !


Now where have I seen these charts before...
http://forexmillion.com/forex-forecast/eur-usd


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## Joe Blow (24 November 2011)

After some consideration I fail to see what this thread has to offer ASF members and visitors. Thread closed.


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