Weekly Forecast--112711
EUR/USD: Watch for the WS1 at 1.3139 to contain this week, and bring on the correction that has been much talked about. The correction will take this pair to the WR2 at 1.3422.
USD/JPY: A correction should be gin the week, but any downside momentum should be limited to my WS2 at 77.11. Upside potential is looking strong all the time, as the pair has its eye riveted back on 78.11, and it could be hit this week.
GBP/USD: Look for the WS1 at 1.5332 to contain this week. This pair looks weaker than its cousin, the EUR/USD. Any correction should be contained at 1.5868 and take up to 2 weeks to finish.
USD/CHF: This pair is getting ominously close to a very strong reversal, and that is in spite of it cracking the weekly cloud. The monthly tenken is .9394, but the WR1 at .9354 could contain this week. If we get a strong break through circa .9216, then that will mark the beginning of a very strong correction.
EUR/CHF: I might be through with the talk of hitting the bottom of the weekly cloud at 1.2713. Dont be surprised if the recent peak at 1.2439 is going to be it for awhile, as the picture is clearing up for this pair. Look for the WR1 at 1.2349, or the WR2 at 1.2395 to contain this week to bring on a strong move south. The WS2 at 1.2213 is well within range this week.
AUD/USD: The correction that is around the corner should be limited to 1.0070. As is the case with many pairs this week the continuing trend should be limited by a 1 and has its eyes on a 2. WS1 is .9611 and WR2 is .9899.
USD/CAD: The WR1 is 1.0543, but this pair may not get that high this week. The WS2 at 1.0329 represents a cluster event, and might contain this week.
NZD/USD: Downward momentum has waned, and this pair is OS, so it is ready to move north. The WS1 is .7336, but there is room for a slight spike through it, nevertheless, that level should contain. The WR2 at .7552 is well within view.
EUR/GBP: There is still heavy pressure pushing south on this pair. Watch for a reaction at the WS2 at .8501.
EUR/JPY: The WR2 is 103.89, which is also a cluster event. The problem with any upward movement is there is a strong push to the south. We could see the WS1 at 102.36 and even the WS2 at 101.85 get hit this week. Reactions at both those areas are worth taking note of. As a crosscheck (Seldom do I do this.), and even though the charts for the EUR/JPY are suggesting a drop to the WS2, it is doubtful well get that low.
GBP/JPY: We need a strong move on the other side of 120.98, and then we head to 122.07 and then 123.32. If that does not happen, then we are headed to 115.06, and at least 118.78 this week.
EUR/USD: Watch for the WS1 at 1.3139 to contain this week, and bring on the correction that has been much talked about. The correction will take this pair to the WR2 at 1.3422.
USD/JPY: A correction should be gin the week, but any downside momentum should be limited to my WS2 at 77.11. Upside potential is looking strong all the time, as the pair has its eye riveted back on 78.11, and it could be hit this week.
GBP/USD: Look for the WS1 at 1.5332 to contain this week. This pair looks weaker than its cousin, the EUR/USD. Any correction should be contained at 1.5868 and take up to 2 weeks to finish.
USD/CHF: This pair is getting ominously close to a very strong reversal, and that is in spite of it cracking the weekly cloud. The monthly tenken is .9394, but the WR1 at .9354 could contain this week. If we get a strong break through circa .9216, then that will mark the beginning of a very strong correction.
EUR/CHF: I might be through with the talk of hitting the bottom of the weekly cloud at 1.2713. Dont be surprised if the recent peak at 1.2439 is going to be it for awhile, as the picture is clearing up for this pair. Look for the WR1 at 1.2349, or the WR2 at 1.2395 to contain this week to bring on a strong move south. The WS2 at 1.2213 is well within range this week.
AUD/USD: The correction that is around the corner should be limited to 1.0070. As is the case with many pairs this week the continuing trend should be limited by a 1 and has its eyes on a 2. WS1 is .9611 and WR2 is .9899.
USD/CAD: The WR1 is 1.0543, but this pair may not get that high this week. The WS2 at 1.0329 represents a cluster event, and might contain this week.
NZD/USD: Downward momentum has waned, and this pair is OS, so it is ready to move north. The WS1 is .7336, but there is room for a slight spike through it, nevertheless, that level should contain. The WR2 at .7552 is well within view.
EUR/GBP: There is still heavy pressure pushing south on this pair. Watch for a reaction at the WS2 at .8501.
EUR/JPY: The WR2 is 103.89, which is also a cluster event. The problem with any upward movement is there is a strong push to the south. We could see the WS1 at 102.36 and even the WS2 at 101.85 get hit this week. Reactions at both those areas are worth taking note of. As a crosscheck (Seldom do I do this.), and even though the charts for the EUR/JPY are suggesting a drop to the WS2, it is doubtful well get that low.
GBP/JPY: We need a strong move on the other side of 120.98, and then we head to 122.07 and then 123.32. If that does not happen, then we are headed to 115.06, and at least 118.78 this week.
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