GBP/USD Forex chart

Summary : Target Level : 1.4901Target Period : 2 days
Analysis :
Falling Wedge identified at 30-Mar-23:00 2015 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.49 within the next 2 days.
Resistance Levels :
( B ) 1.4901Last resistance turning point of Falling Wedge.
Support Levels
( A ) 1.4753Last support turning point of Falling Wedge.

 

EUR/JPY chart

Summary : Target Level : 128.412Target Period : 3 days
Analysis :
Triangle identified at 24-Mar-20:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 128.412 within the next 3 days.
Resistance Levels :
( B ) 131.5165Last resistance turning point of Triangle.
Support Levels
( A ) 128.412Last support turning point of Triangle.

 

FX EUR/USD Chart

Summary : Target Level : 1.0613Target Period : 2 days
Analysis :
Triangle identified at 23-Mar-03:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.061 within the next 2 days.
Resistance Levels :
( B ) 1.0881Last resistance turning point of Triangle.

Support Levels
( A ) 1.0613Last support turning point of Triangle.

Housing starts slumped in February

Housing starts slumped in February by the most in four years as bad winter weather in parts of the U.S. prevented builders from initiating new projects.
Work began on 897,000 houses at an annualized rate, down 17 percent from January and the fewest in a year, the Commerce Department reported Tuesday in Washington. The median estimate of 80 economists surveyed by Bloomberg called for 1.04 million.

“It was just the weather, basically,” said Richard Moody, chief economist at Regions Financial Corp. in Birmingham, Alabama. Still, “my view of the recovery in single-family housing is that it’s coming more gradually than others think.”
An increase in building permits was driven by applications for multifamily units, indicating single-family construction, the biggest part of the market, will keep struggling. While stronger hiring and low borrowing costs have helped the industry advance, sales remain challenged by limited supply of cheaper homes and sluggish wage growth.
The median estimate of 81 economists in the Bloomberg survey called for 1.04 million starts. Estimates ranged from annualized rates of 975,000 to 1.08 million after a previously reported January pace of 1.07 million.

USD/JPY Chart

Summary : Target Level : 120.6565Target Period : 3 days
Analysis :
Triangle identified at 16-Mar-00:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 120.656 within the next 3 days.
Resistance Levels :
( B ) 121.569Last resistance turning point of Triangle.
Support Levels
( A ) 120.6565Last support turning point of Triangle.

 

USD/CAD Chart

Summary : Target Level : 1.2618Target Period : 2 days
Analysis :
Channel Up identified at 16-Mar-06:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.262 within the next 2 days.
Resistance Levels :
( B ) 1.2824Last resistance turning point of Channel Up.
Support Levels
( A ) 1.2618Last support turning point of Channel Up.

 

GBP/USD Chart

Summary : Target Level : 1.5097Target Period : 2 days
Analysis :
Channel Down identified at 12-Mar-06:00 2015 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.51 within the next 2 days.
Resistance Levels :
( B ) 1.5097Last resistance turning point of Channel Down.
Support Levels ( A ) 1.4893Last support turning point of Channel Down.

 

USD/JPY Forex Chart

Summary : Target Level : 120.8525Target Period : 14 hours
Analysis :
Triangle identified at 11-Mar-06:30 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 120.852 within the next 14 hours.
Resistance Levels :
( B ) 121.5Last resistance turning point of Triangle.
Support Levels
( A ) 120.8525Last support turning point of Triangle.

 

Traders need to manage any trades they are in

You need to stay with your technical indicators on your charts but with out staying discipline you will not make any profits.  Trading forex news can be risky it is you against the currency market so you need to be careful. The swings during news release can be brutal it is not for the new forex trader. Experienced traders have spent years developing a trading style taking in consideration price action and focusing on their technical set ups. Most of the time the big money in the markets have already factored in the news and information ahead of the news release. This is why you need to be very cautious trading the news. The best way is to watch the price action after a news release and wait for a pull back then enter the trade staying with the trend. Watch your charts and place your trade from your technical analysis.
 

How to manage trades

EUR/USD FX

Summary : Target Level : 1.1217Target Period : 3 days
Analysis :
Channel Down identified at 09-Mar-08:00 2015 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.122 within the next 3 days.
Resistance Levels :
( B ) 1.1217Last resistance turning point of Channel Down.

Support Levels
( A ) 1.0824Last support turning point of Channel Down.

USD/CHF FX Chart

Summary : Target Level : 0.9593Target Period : 2 days Analysis :
Channel Up identified at 06-Mar-01:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.959 within the next 2 days.
Supporting Indicators :
RSI above 60

Resistance Levels :
( B ) 0.9749Last resistance turning point of Channel Up.Support Levels
( A ) 0.9593Last support turning point of Channel Up.

USD/CAD Forex Chart

Summary : Target Level : 1.2566Target Period : 2 days
Analysis :
Triangle identified at 04-Mar-05:00 2015 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.257 within the next 2 days.
Resistance Levels :
( B ) 1.2566Last resistance turning point of Triangle.

Support Levels ( A ) 1.2433Last support turning point of Triangle.

 

USD/JPY Chart

Summary : Target Level : 118.681Target Period : 3 days
Analysis :
Channel Up identified at 03-Mar-05:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 118.681 within the next 3 days.
Resistance Levels :
( B ) 120.2655Last resistance turning point of Channel Up.

Support Levels
( A ) 118.681Last support turning point of Channel Up.

USD/JPY Chart

Summary : Target Level : 119.265Target Period : 13 hours
Analysis :
Channel Up identified at 02-Mar-06:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 119.265 within the next 13 hours.
Resistance Levels :
( B ) 119.955Last resistance turning point of Channel Up.
Support Levels
( A ) 119.265Last support turning point of Channel Up.