do these three currency pairs because they represent a cross section of the market as a whole – all matching up to possible opportunities on Wild Card, 6 Aces and Royal Flushes (Trending and Elliott Wave) and they represent correlating other currencies.
Example: due to it’s very close correlation the EURUSD will show you what the USDCHF will possibly do going the other way!
This way whatever trader you are you have an idea of what the possibilities might be.
REMEMBER: THIS IS BIG PICTURE ONLY – NOT INTRADAY! Please NOTE!!!! This is an opinion only!
SPECIAL NOTE:
MERRY CHRISTMAS and a HAPPY NEW YEAR EVERYONE!
Don’t forget that ProAct Traders offices are closed on Monday – NO LIVE ROOM!!!
CLICK ON IMAGES TO ENLARGE
——————————————————————————–
EURUSD
WHAT I SEE: The current pullback should lead to further downside movement to 1.4000 and maybe all the way to 1.3802. Will look to sell on any rallies – especially bear flags.
——————————————————————————–
USDJPY
WHAT I SEE: – Should see a pullback to the 91.00 area then further move to the 93.50 area. Big Taget is up at the 94.50 area.
——————————————————————————–
EURJPY – ALWAYS MY PREFERRED TRADE!!!!!
WHAT I SEE: – The EJ is now in a channel north but has taken out the .618. There is a set of twins here which is hopeful that the move is under way south again. If it breaks the channel look for downside target of 128.44.
——————————————————————————–
EXTREME CAUTION IS URGED – TRADE WITH STOPS!!!!!
BTW – if you want to save the pics, right click and hit “save as”.
IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by ProAct Traders, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. This is an opinion ONLY – and not a trade call, but a study that may lead you to a trade. I do not know whether this will transpire or not so use your own judgment.
