THE WEEK AHEAD IN FX: EUR/USD, AUD/USD & USD/CAD

While price action on Friday violated a few levels I had noted on Friday AM, the forecast remains intact. See Friday's AM analysis below.
However, let's take a quick look, make some adjustments and see where we go.
Dollar Index (DXY): the thrust higher on Friday took out the 94.88 level which I was using as a 'trigger' level. This means nothing more than an area that gets me to re-evaluate my current view. I have not changed my bearish view on DXY. Prices are now back below that level and poised to move lower. If we can close this week below 94.88 it will be a pretty solid sign that bears are firmly in control.
EUR/USD:  minor adjustment to the wave count, now using Friday's low as Wave (2)....next stop is a break above 1.1721 and then towards 1.1813+ in the weeks ahead.
AUD/USD: the set-up seen below from Friday has played out perfectly with .7140 (61.8% retracement) tagging the Wave ii low....a typical price ration for Wave ii completions. No change....higher prices in the forecast.....7230+
USD/CAD: no need to look beyond the chart I posted on Thursday...playing out perfectly. Next stop 1.2937-1.2908
Friday's Morning FX Update
Good day traders.
It has been a solid week for FX markets as the forecast move lower in the Dollar Index (DXY) has provided solid set-ups in EUR/USD, NZD/USD and USD/CAD.
By my count, those 3 set-ups alone offered up 230+ pips to clients if they were in there trading based on the forecasts and charts laid out here all week.
Based on the price action overnight we should be seeing additional trade set-ups into next week. The Dollar Index (DXY) looks to have completed Wave 3 of Wave iii so after a modest rally we should the downtrend resume.
DXY
DXY
Assuming this forecast plays out, there are some solid set-ups in EUR/USD, AUD/USD, NZD/USD and USD/CNH.
EURUSD
AUD/USD - early stages of a sustained move higher. Consider buying the pull-back noted below in BLUE highlight.
AUDUSD
USD/CNH
USDCNH

                              Start Trading with Free $30    : CLAIM NOW $30
VERIFY YOUR ACCOUNT AND GET YOUR $30 INSTANTLY ,MAKE MONEY WITHDRAW !!

               IT IS POSSIBLE TO SHIFT FROM $30  TO  $1,000,000  TRY  TODAY
IF  YOU  FACE  ANY  PROBLEM  TO  GET  THIS  OFFER  PLEASE CONTACT                                                                   US FOR
SUPPORT ,  CLICK  SMS  BAR  ABOVE  THEN  TALK  TO  US.



Comments

Post a Comment