Weekly Forecast--012912
EUR/USD: Any correction this week should be limited to the WS1 at 1.3119. The level to look for this week is going to be the 1.3280. Once it is touched, then it is going to pave the wav for a move up to the top of the daily cloud at 1.3593. This week it is favorable to see the WR2 at 1.3419 being hit.
USD/JPY: This pair had a strong finish moving south last week and it should continue this week. If it has any ideas of moving north to start the week, it should be limited to the WR1 at 77.13, and possibly a little higher. The WS2 at 75.79 should be hit this week.
GBP/USD: This pair is still on its way to the top of the daily cloud. We will need a strong reversal from that point, or at the least, the pair will enter a broad range consolidative period, and the next stop to the upside would be the weekly kijun at 1.5924. That could now happen, as the pair is entering the realm of the years upper cycle towards the YR1, which is 1 pip below the weekly kijun.
USD/CHF: This pair has the bottom of the daily cloud at .9056 on the radar. That is a strong MT decision point, because if it is broken, then we head to .8575-.8512 range.
AUD/USD: The YR1 at 1.0711 will be hit this week. The flags should go up after it is touched. Having said that, it is also favorable to see MR3 at 1.0744 hit, even though the monthlies all change as of Wednesday. We could see the move continue to 1.0888 before we see any kind of a substantial reversal. For now the main level that could contain is 1.0744.
USD/CAD: Any corrective move should be limited by the top of the hourly cloud at 1.0063. With the strong break last week, it confirms this pair is headed much deeper south, as it now has the bottom of the weekly cloud on its radar at .9707. It will meet up with support at .9883, and it could be touched this week. What we see happening right now is th long range consolidative move that I spoke of in Sept of last year. I did have a view of 1.1059 to be hit, but that will still be hit, but take much longer than expected. Just in case .9707 does not contain, then this pair is headed to the .9400s.
NZD/USD: Nothing is changing with the strong move north for this pair. The strong move last week above the kijun and top of the cloud confirms we are headed to the circa .8500s. Any move south should be contained at the WS1 at .8182, and then this week should see the WR2 at .8356.
EUR/GBP: This pair is starting to tighten up a bit, as it really should be heading to the bottom of the monthly cloud, but momentum is at least, temporarily building against that. This move north should only be viewed as a corrective le to the move heading to .8167 Having said, this correction could be ending at the bottom of the daily cloud at .8456, or break through and head to the top at .8566. This week should start off with a correction to the ST cluster S area at .8372, and then from there, continue its move north. As long as that cluster S area holds, then at least, .8456 should be hit.
EUR/JPY: The area of the WS1 at 100.49 is starting to form a cluster S and it should contain for the week. The pair has clear vision looking north, as even the WR1 at 102.25 will break last weeks high. The level to watch out for is the WS2 at 103.13. It will be necessary for a move into the daily cloud in order for it to be hit. Either there would be a sharp move out of it after the WR2 was hit or a period of consolidation before the continuation would continue for an eventual move to the top of the cloud, currently at 106.29
GBP/JPY: This pair ended last week with a reversal of the UP after teasing the cloud by sticking its head in it then bowing out. The reversal should continue to the WS1 at 119.89. Afterward, the pair could still break through the cloud and head to the top at 123.32. This week the WR2 ay 122.00 should be hit, and if southern containment is above the WR1, then the WR3 at 123.16 could be hit, which will put the pair real close to the top of the cloud.
EUR/AUD: MT, the correction has begun, as we should see at least the daily tenken at 1.2970 hit. For this week, any correction should be contained at the WS1 at 1.2347. The WR2 is 1.2518 and the daily tenken is 1.2556. The rally should be contained in that area in this week.
AUD/CHF: .9760 has turned into a huge R area, as the DOWN will continue this week. Look for the WS2 at A minor support zone has developed in the .9626--.9578 area, and it should contain the downside this week.
EUR/USD: Any correction this week should be limited to the WS1 at 1.3119. The level to look for this week is going to be the 1.3280. Once it is touched, then it is going to pave the wav for a move up to the top of the daily cloud at 1.3593. This week it is favorable to see the WR2 at 1.3419 being hit.
USD/JPY: This pair had a strong finish moving south last week and it should continue this week. If it has any ideas of moving north to start the week, it should be limited to the WR1 at 77.13, and possibly a little higher. The WS2 at 75.79 should be hit this week.
GBP/USD: This pair is still on its way to the top of the daily cloud. We will need a strong reversal from that point, or at the least, the pair will enter a broad range consolidative period, and the next stop to the upside would be the weekly kijun at 1.5924. That could now happen, as the pair is entering the realm of the years upper cycle towards the YR1, which is 1 pip below the weekly kijun.
USD/CHF: This pair has the bottom of the daily cloud at .9056 on the radar. That is a strong MT decision point, because if it is broken, then we head to .8575-.8512 range.
AUD/USD: The YR1 at 1.0711 will be hit this week. The flags should go up after it is touched. Having said that, it is also favorable to see MR3 at 1.0744 hit, even though the monthlies all change as of Wednesday. We could see the move continue to 1.0888 before we see any kind of a substantial reversal. For now the main level that could contain is 1.0744.
USD/CAD: Any corrective move should be limited by the top of the hourly cloud at 1.0063. With the strong break last week, it confirms this pair is headed much deeper south, as it now has the bottom of the weekly cloud on its radar at .9707. It will meet up with support at .9883, and it could be touched this week. What we see happening right now is th long range consolidative move that I spoke of in Sept of last year. I did have a view of 1.1059 to be hit, but that will still be hit, but take much longer than expected. Just in case .9707 does not contain, then this pair is headed to the .9400s.
NZD/USD: Nothing is changing with the strong move north for this pair. The strong move last week above the kijun and top of the cloud confirms we are headed to the circa .8500s. Any move south should be contained at the WS1 at .8182, and then this week should see the WR2 at .8356.
EUR/GBP: This pair is starting to tighten up a bit, as it really should be heading to the bottom of the monthly cloud, but momentum is at least, temporarily building against that. This move north should only be viewed as a corrective le to the move heading to .8167 Having said, this correction could be ending at the bottom of the daily cloud at .8456, or break through and head to the top at .8566. This week should start off with a correction to the ST cluster S area at .8372, and then from there, continue its move north. As long as that cluster S area holds, then at least, .8456 should be hit.
EUR/JPY: The area of the WS1 at 100.49 is starting to form a cluster S and it should contain for the week. The pair has clear vision looking north, as even the WR1 at 102.25 will break last weeks high. The level to watch out for is the WS2 at 103.13. It will be necessary for a move into the daily cloud in order for it to be hit. Either there would be a sharp move out of it after the WR2 was hit or a period of consolidation before the continuation would continue for an eventual move to the top of the cloud, currently at 106.29
GBP/JPY: This pair ended last week with a reversal of the UP after teasing the cloud by sticking its head in it then bowing out. The reversal should continue to the WS1 at 119.89. Afterward, the pair could still break through the cloud and head to the top at 123.32. This week the WR2 ay 122.00 should be hit, and if southern containment is above the WR1, then the WR3 at 123.16 could be hit, which will put the pair real close to the top of the cloud.
EUR/AUD: MT, the correction has begun, as we should see at least the daily tenken at 1.2970 hit. For this week, any correction should be contained at the WS1 at 1.2347. The WR2 is 1.2518 and the daily tenken is 1.2556. The rally should be contained in that area in this week.
AUD/CHF: .9760 has turned into a huge R area, as the DOWN will continue this week. Look for the WS2 at A minor support zone has developed in the .9626--.9578 area, and it should contain the downside this week.