This is what I see in the Forex starting the week of May 10th – an OPINION ONLY:

I 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. I DO NOT DO THE GBPUSD- SINCE 99% OF RETAIL TRADERS SHOULD NOT BE TRADING IT.

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!!!! The HSI has proven to be more accurate then 240 fibs when searching for targets and I only use a 240 trend to know where the Trend wall might be and what “THEY” are thinking! The Red line MA on the 10 MIN Wild Card is the current active trend and it closely approximates the 240 trend!
What I se

e…the currencies MIGHT do next week? NOTE: IF YOU ARE UNSURE – STAY ON THE SIDELINES!’

SPECIAL NOTE: … Dollar falling across the board.. EURUSD moves above the trendline resistance at 1.3556. USDCHF falls below support at 1.1157 and dares the Swiss National Bank to intervene. The USDJPY continues the move to lower levels at 98.85. USDCAD moves closer to 38.2% retracement support at the 1.1530 level.
From Greg Michalowski chief Currency strategist at FXDD

WHAT I SEE: – We have a pretty nice channel up (see above comments) but an unsustainable initial trend. Expect a pull back and then go again north to the 1.3900 area


WHAT I SEE: – Break of the Bear Flag spells continuation to the S3 then S4 – Pause for the .382 fibo Support, then S5.

1) WHAT I SEE: I wrote last week: Looking to pullback to the MA’s and then have a go again at the R7/.786 fibo. Did that!
2) Looking to pullback a little then head for the R8 at the 140.00 area. If it breaks that look to fill the gap.


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.