Trading Support And Resistance - Sunday, April 11

10 and one 10 us dollar bill

This week we will begin with our monthly and weekly forecasts of the currency pairs worth watching. The first part of our forecast is based upon our research of the past 18 years of Forex prices, which show that the following methodologies have all produced profitable results:

Let us look at the relevant data of currency price changes and interest rates to date, which we compiled using a trade-weighted index of the major global currencies:

Currency Price Changes and Interest Rates

Monthly Forecast April 2021

For the month of April, we again forecast that the USD/JPY currency pair will rise in value, while the EUR/USD currency pair will fall. The performance so far is negative:

Monthly Forecast April 2021

Weekly Forecast  April 11

This week, we forecast that the EUR/GBP currency cross is likely to fall in value, which the GBP/CHF currency cross is likely to rise in value, as these crosses had unusually strong counter-trend price movements over the past week.

The Forex market showed a strong increase in its level of volatility last week, with 44% of the important currency pairs and crosses moving by more than 1% in value. Volatility is likely to remain at a similar level over the coming week.

Last week was dominated by relative strength in the Swiss franc, and relative weakness in the British pound.

Previous Monthly Forecasts

You can view the results of our previous monthly forecasts here.

Key Support/Resistance Levels for Popular Pairs

We teach that trades should be entered and exited at or very close to key support and resistance levels. There are certain key support and resistance levels that can be watched on the more popular currency pairs this week.

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Disclosure:You can trade our forecasts in a real or demo Forex brokerage account.

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