Some of my forecasts
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Weekly Preview--040311
EUR/USD: This pair keeps messing around near the top, and eventually, it is going to take it out as it should be headed towards 1.4412. That should be MTLT containment as we see what should be a very strong reversal.
<b>It did take out the top, and kept motoring all the way through the 1.4412 level to 1.4465. </b>
USD/JPY: With the break of the daily cloud and the tenken following sharply, we now have cluster support at 82.78. The next thing to look for is the bottom of the weekly cloud to be hit at 86.89.
<b>We are still on our way to the bottom of the cloud, as the peak this week was 85.52. It did start to correct at the end of the week.
</b>
GBP/USD: There is cluster R at the daily TK combo at 1.6158. That could be broken and if it is, it will be sharp as we see a move towards 1.6256. If the UP continues, then expect the previous peak at 1.6399 to contain.
<b>The cluster R was broken, and Tuesday was a huge day for the pair, as it move 202 pips. 1.6256 was also blown out as the pair advanced to a peak up to that juncture at 1.6298. 1.6399 did not contain, but only because of a sharp spike to 1.6426.
</b>
USD/CHF: The top of the 4-hour cloud at .9144 should be containment for the week. The pair next rise should bring it into some forbidden waters as the daily kijun at .9495 should contain.
<b>The pair only made it to .9295, so as a result, the dip took the pair to .9090. </b>
EUR/CHF: Current level has got to contain, or one of 2 things happens this week. Either we will get some volatile price action, which will eventually drop the price back to current level, or the UP continues to the bottom of the weekly cloud at 1.3510. I do not favor the current level to contain.
<b>Current level did not contain, and so the pair was all over the place this week, as the range for the week was 1.30541.3242</b>
AUD/USD: The topping process has begun for this pair, and it is now clearly evident it is going to reverse. There just is not much steam left for this pair. The reversal begins anywhere between current level and the low 1.0400s.
<b>We got the reversal as the dip took the pair to 1.0288. Initial containment was 1.0416. After the dip, the pair took off to the peak for the week at 1.0551.</b>
USD/CAD: We are still looking for this pairs containment. This weeks S1 should be it, which will be circa .9580. If that is broken, then we get a blowout towards the high .9400s
<b>My actual WR1 was .9588. We did not exactly get a blow out, but there was a strong move to .9525. The peak on the return was .9586.</b>
EUR/GBP: Now that this pair has broken clearly above the weekly cloud, it will contain any downside momentum at .8743. The rise should continue, as I mentioned before in a previous analysis towards the mid--.8900s, and possibly beyond.
<b>This was a volatile week as the dip ended up being .8713, and then the pair finished the week at .8833. </b>
EUR/JPY: This pair did form a base at the bottom of the weekly cloud, and last week we finally got that strong move north we had been talking about. The top of the weekly cloud at 121.95, but the UP needs a reprieve, and we should see a rather strong correction to start the week towards the 4-hour kijun at 117.30. This would make for a nice 2-way ticket, because at that point we should see the UP resume.
<b>The forecasted correction to start the week ended at 119.18, and then the pair just kept going north to 123.07</b>
GBP/JPY: Last week was a huge breakout week for this pair. It finally finished inside the weekly cloud and broke above the daily top and the TL. Things have turned very bullish for this pair. The week should begin, like its cousin, the EUR/JPY with a rather significant correction. The 4-hour tenken at 134.13 will be hit, and it is very likely the kijun could also be hit at 133.05. Afterward, the UP resumes in earnest, as the next stop on the radar is the top of the weekly cloud at 139.81. This week will end anywhere above 134.32.
<b>The dip was only 135.17, and then the top of the weekly cloud at 139.81 was hit, as the peak was 140.00. </b>
AUD/JPY: I wrote last week to expect a reversal between 88.38--89.35. We're there. The WR1 is 88.48, and the MR1 is 89.08. If the WR1 does not contain, then the MR1 should.
<b>The WR2 at 98.64 was needed to contain as the peak was 89.95.</b>
NZD/JPY: The WR2 is 66.41. This pair does not have the correctional room that its cousin, the AUD/JPY has. The top of the weekly cloud at 64.05 looks like containment.
<b>The peak for the week was 66.68. </b>
EUR/USD: This pair keeps messing around near the top, and eventually, it is going to take it out as it should be headed towards 1.4412. That should be MTLT containment as we see what should be a very strong reversal.
<b>It did take out the top, and kept motoring all the way through the 1.4412 level to 1.4465. </b>
USD/JPY: With the break of the daily cloud and the tenken following sharply, we now have cluster support at 82.78. The next thing to look for is the bottom of the weekly cloud to be hit at 86.89.
<b>We are still on our way to the bottom of the cloud, as the peak this week was 85.52. It did start to correct at the end of the week.
</b>
GBP/USD: There is cluster R at the daily TK combo at 1.6158. That could be broken and if it is, it will be sharp as we see a move towards 1.6256. If the UP continues, then expect the previous peak at 1.6399 to contain.
<b>The cluster R was broken, and Tuesday was a huge day for the pair, as it move 202 pips. 1.6256 was also blown out as the pair advanced to a peak up to that juncture at 1.6298. 1.6399 did not contain, but only because of a sharp spike to 1.6426.
</b>
USD/CHF: The top of the 4-hour cloud at .9144 should be containment for the week. The pair next rise should bring it into some forbidden waters as the daily kijun at .9495 should contain.
<b>The pair only made it to .9295, so as a result, the dip took the pair to .9090. </b>
EUR/CHF: Current level has got to contain, or one of 2 things happens this week. Either we will get some volatile price action, which will eventually drop the price back to current level, or the UP continues to the bottom of the weekly cloud at 1.3510. I do not favor the current level to contain.
<b>Current level did not contain, and so the pair was all over the place this week, as the range for the week was 1.30541.3242</b>
AUD/USD: The topping process has begun for this pair, and it is now clearly evident it is going to reverse. There just is not much steam left for this pair. The reversal begins anywhere between current level and the low 1.0400s.
<b>We got the reversal as the dip took the pair to 1.0288. Initial containment was 1.0416. After the dip, the pair took off to the peak for the week at 1.0551.</b>
USD/CAD: We are still looking for this pairs containment. This weeks S1 should be it, which will be circa .9580. If that is broken, then we get a blowout towards the high .9400s
<b>My actual WR1 was .9588. We did not exactly get a blow out, but there was a strong move to .9525. The peak on the return was .9586.</b>
EUR/GBP: Now that this pair has broken clearly above the weekly cloud, it will contain any downside momentum at .8743. The rise should continue, as I mentioned before in a previous analysis towards the mid--.8900s, and possibly beyond.
<b>This was a volatile week as the dip ended up being .8713, and then the pair finished the week at .8833. </b>
EUR/JPY: This pair did form a base at the bottom of the weekly cloud, and last week we finally got that strong move north we had been talking about. The top of the weekly cloud at 121.95, but the UP needs a reprieve, and we should see a rather strong correction to start the week towards the 4-hour kijun at 117.30. This would make for a nice 2-way ticket, because at that point we should see the UP resume.
<b>The forecasted correction to start the week ended at 119.18, and then the pair just kept going north to 123.07</b>
GBP/JPY: Last week was a huge breakout week for this pair. It finally finished inside the weekly cloud and broke above the daily top and the TL. Things have turned very bullish for this pair. The week should begin, like its cousin, the EUR/JPY with a rather significant correction. The 4-hour tenken at 134.13 will be hit, and it is very likely the kijun could also be hit at 133.05. Afterward, the UP resumes in earnest, as the next stop on the radar is the top of the weekly cloud at 139.81. This week will end anywhere above 134.32.
<b>The dip was only 135.17, and then the top of the weekly cloud at 139.81 was hit, as the peak was 140.00. </b>
AUD/JPY: I wrote last week to expect a reversal between 88.38--89.35. We're there. The WR1 is 88.48, and the MR1 is 89.08. If the WR1 does not contain, then the MR1 should.
<b>The WR2 at 98.64 was needed to contain as the peak was 89.95.</b>
NZD/JPY: The WR2 is 66.41. This pair does not have the correctional room that its cousin, the AUD/JPY has. The top of the weekly cloud at 64.05 looks like containment.
<b>The peak for the week was 66.68. </b>
USD Index
This is a market that just kind of popped up at me with very strong obviaitons. We are nearing the point of exhaustion, and the index is very OS. Look for the rebound to begin shortly. Current price is 75.14, and it is this circa area that a reversal will being any day for a rise up to at least 79.00, and most likely beyond that.
This is a market that just kind of popped up at me with very strong obviaitons. We are nearing the point of exhaustion, and the index is very OS. Look for the rebound to begin shortly. Current price is 75.14, and it is this circa area that a reversal will being any day for a rise up to at least 79.00, and most likely beyond that.
The other 9 majors plus 2
USD/JPY: Most likely, the pair is going to have a decision point at the WS1 at 84.38. We should see a further drop south to at least the daily tenken at 83.94.
GBP/USD: The correctional process will continue, but the WS2 should be containment at 1.6181. Once this correction is finish, the rise to 1.6500 could be abrupt.
USD/CHF: My WS2 at .8979 should be containment, but not before we get a slight correction form current level to around .9125--.9146. On the upside, .9343 needs to be firmly broken in order to get the longer term trip north started.
EUR/CHF: What appears to be a correctional process has begun. 1.2913 needs to contain, or we are headed to 1.2803 cluster S. If that is broken, then we are headed back close to 1.2500. As long as the aforementioned level contains, and the recent peak holds, then it will be a very quick move to 1.3403.
AUD/USD: The WP should now be containment for a further move to the WS1 at 1.0461. This move south is only a correction as the WS2 at 1.0388 should be absolute containment.
USD/CAD: The WR1 at .9618 should be containment this week as the loonie heads lower. We could be getting ready for another powerful thrust south as the cluster event at .9528 will be initial support, and then we head to the WS2 at .9481. That could end up being a bridge once the .9528 level is broken convincingly.
EUR/GBP: Momentum is waning on the weekly chart, but the pair keeps plodding along towards the .8905 target. The WR1 at .8858 will be solid R, but will not contain the MT UP. The WR2 at .8902 is the next target, and that matches nicely with my MT target.
EUR/JPY: As I mentioned last week, I have 118.94 on the radar, and the uptrend has been halted until that is realized. Regardless of the route, the week should still finish above the weekly cloud at 121.95.
GBP/JPY: As I mentioned last week, I have 134.23 should be containment, and the uptrend has been halted until we get closer to that mark. Regardless of the route, the week should still finish above the weekly cloud at 121.95. In the case of this pair, the top of the weekly cloud is 139.95, and it is acting as containment.
A couple of extras for this week
AUD/JPY: As I mentioned last week, 86.66 is on the radar, and the circa area of 83.23 should be containment, , and the uptrend has been halted until that is realized.
NZD/JPY: As I mentioned last week, 63.87 is on the radar, and the circa area of 62.78 should be containment, and the uptrend has been halted until that is realized.
Considering yen is the secondary currency in all pairs with the majors, and every one of them looks weak, it should a huge week for the yen.
USD/JPY: Most likely, the pair is going to have a decision point at the WS1 at 84.38. We should see a further drop south to at least the daily tenken at 83.94.
GBP/USD: The correctional process will continue, but the WS2 should be containment at 1.6181. Once this correction is finish, the rise to 1.6500 could be abrupt.
USD/CHF: My WS2 at .8979 should be containment, but not before we get a slight correction form current level to around .9125--.9146. On the upside, .9343 needs to be firmly broken in order to get the longer term trip north started.
EUR/CHF: What appears to be a correctional process has begun. 1.2913 needs to contain, or we are headed to 1.2803 cluster S. If that is broken, then we are headed back close to 1.2500. As long as the aforementioned level contains, and the recent peak holds, then it will be a very quick move to 1.3403.
AUD/USD: The WP should now be containment for a further move to the WS1 at 1.0461. This move south is only a correction as the WS2 at 1.0388 should be absolute containment.
USD/CAD: The WR1 at .9618 should be containment this week as the loonie heads lower. We could be getting ready for another powerful thrust south as the cluster event at .9528 will be initial support, and then we head to the WS2 at .9481. That could end up being a bridge once the .9528 level is broken convincingly.
EUR/GBP: Momentum is waning on the weekly chart, but the pair keeps plodding along towards the .8905 target. The WR1 at .8858 will be solid R, but will not contain the MT UP. The WR2 at .8902 is the next target, and that matches nicely with my MT target.
EUR/JPY: As I mentioned last week, I have 118.94 on the radar, and the uptrend has been halted until that is realized. Regardless of the route, the week should still finish above the weekly cloud at 121.95.
GBP/JPY: As I mentioned last week, I have 134.23 should be containment, and the uptrend has been halted until we get closer to that mark. Regardless of the route, the week should still finish above the weekly cloud at 121.95. In the case of this pair, the top of the weekly cloud is 139.95, and it is acting as containment.
A couple of extras for this week
AUD/JPY: As I mentioned last week, 86.66 is on the radar, and the circa area of 83.23 should be containment, , and the uptrend has been halted until that is realized.
NZD/JPY: As I mentioned last week, 63.87 is on the radar, and the circa area of 62.78 should be containment, and the uptrend has been halted until that is realized.
Considering yen is the secondary currency in all pairs with the majors, and every one of them looks weak, it should a huge week for the yen.
Some requested S&R's
USD/INR 45.42 44.99 44.74 44.22 43.97 -43.54
Gold 1521.52 1499.51 1486.26 1460.08 1447.15 -1424.48
DJIA 12462.68 12399.33 12361.16 12284.78 12246.55 -12183.32
Crude Oil 118.96 116.28 114.66 111.49 109.94 -107.12
Silver 44.12 42.61 41.70 39.94 39.10 -37.46
Copper 724.05 596.63 519.86 395.68 348.26 -162.15
Natural Gas 4.36 4.20 4.10 3.91 3.81 -3.65
Nifty NSE 5967 5899 5857 5774 5733 -5665
Reliance Ind 1058 1038 1026 1002 990 -970
I don't know how to transpose this and make it look neater. Let me know if there is any interpretation that is needed.
USD/INR 45.42 44.99 44.74 44.22 43.97 -43.54
Gold 1521.52 1499.51 1486.26 1460.08 1447.15 -1424.48
DJIA 12462.68 12399.33 12361.16 12284.78 12246.55 -12183.32
Crude Oil 118.96 116.28 114.66 111.49 109.94 -107.12
Silver 44.12 42.61 41.70 39.94 39.10 -37.46
Copper 724.05 596.63 519.86 395.68 348.26 -162.15
Natural Gas 4.36 4.20 4.10 3.91 3.81 -3.65
Nifty NSE 5967 5899 5857 5774 5733 -5665
Reliance Ind 1058 1038 1026 1002 990 -970
I don't know how to transpose this and make it look neater. Let me know if there is any interpretation that is needed.
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