Forex Analysis for 5th January 2015

The week started with heavy losses for some currencies, but today some data are coming from the EU, UK and USA, which can move the market.

EUR/USD

The euro fell on its deepesed low since almost 9 years by fundamental reasons. Today the data must be really good, to support the common currency. If they are bad, the euro will test the 1,18 USD mark.

Long: > 1,1991
S/L: 20 Pips
TP: 35 Pips
Trailing Stop: 20 Pips

Short: < 1,1870
S/L: 25 Pips
TP: 45 Pips
Trailing Stop: 25 Pips

GBP/USD

Also the GBP was one of the loosers from Monday, and if the today upcoming services PMI id below the forecasts, the it will probably fall below the 1,52 USD

Long: > 1,5330
S/L: 20 Pips
TP: 40Pips
Trailing Stop: 20 Pips

Short: < 1,5180
S/L: 25 Pips
TP: 45 Pips
Trailing Stop: 25 Pips

USD/JPY

The JPY rose a bit against the USD, mainly because investors moved from other assets to the yen. If there are upcoming signs for an alternative, the yen will lose again.

Long: > 119,88
S/L: 25 Pips
TP: 45 Pips
Trailing Stop: 25 Pips

Short: < 119,15
S/L: 20 Pips
TP: 30 Pips
Trailing Stop: 20 Pips

The data for entry, S/L and TP are shown as a guide only and that is probably conservative. They can be adapted to the current market behavior and your own trading style. Also be reminded at the possibility to take part of the benefits in a positive trade.

Risk Warning / Disclaimer
The opinions of the author to market behavior do not constitute a solicitation to buy or sell any financial products, but are merely a personal opinion. When you go into the trade in leveraged financial products, you must be aware that a loss up to the amount of your deposit and in addition, can also be an obligation to arise. Make yourself familiar with the active trade or get independent advice before you invest your own money and use only invest money that you can get over the worst case.