"Forex Levels" - Daily EURUSD and GBPUSD forecast

[Ivan Urupa]

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.

 

[Ivan Urupa]

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

 

[Ivan Urupa]

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

 

[Ivan Urupa]

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

 

[Ivan Urupa]

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

 

[Ivan Urupa]

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

 

[Boggo]

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

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)

 

[Ivan Urupa]

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

 

[Ivan Urupa]

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

 

[Joe Blow]

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.

 

[Ivan Urupa]

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)

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.

 

[Boggo]

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 ?

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

 

[Ivan Urupa]

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]

 

[Ivan Urupa]

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]

 

[financialdonk]

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.

 

[Boggo]

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.

 

[Ivan Urupa]

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?

 

[Ivan Urupa]

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

 

[Boggo]

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.

 

[peter2]

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.