Hello Everyone,

Nikos is back so I'm going to provide his market commentary this weekend.  Thankfully his father is doing better after suffering a heart attack.

As usual you will find my weekly forex reversal levels just below.

Also note that I will soon be releasing a course that will give you multiple ways to take more profitable trades off of my levels.  I'll keep you posted when its ready. 

Until next week, peace and prosperity…

Anyway, here's Nikos…

Hello traders!

Haven’t been around for some days and I am sorry about that. I hope you are well.

We had quite a ride on the eur/usd up to about 1.4150. My swing trade position reached 1240 pips profit at the highest point (remember my entry was at 1.2920).

The retracement to 1.3700  (April 12. High) was fast and there were some nice intraday short trades worth more than 300-400 pips.

Having said that you must remember that the main trend is still long and the eru/usd is stuck more or less between 1.4000/1.4150 and 1.3700. This means, that we need to see a clear break of these levels before we even think of any new swing trade entries.

Intraday and scalping trade opportunities to both sites, long and short between the above support and resistance areas are of course very welcome.

Gbp/usd broke our support trend line at 1.5820 and I personally closed my last swing trade position there with 311 pips profits.

The main trend is still long and we need to see a bounce of the 1.5600 or latest in the 1.5500 area to confirm the continuation of the long trend.

If the above areas break to the downside, we can expect some swing short setups. This of course still takes time and we can sit back, watch and relax.

I hope this was helpful to you. See you soon!

Happy and healthy trading

Nikos