REMEMBER: THIS IS BIG PICTURE ONLY – NOT INTRADAY! Please NOTE!!!! This is an opinion only!
SPECIAL NOTE:
http://tinyurl.com/2bsrhoj
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EURUSD
WHAT I SEE: We continued the down move and have had a nice retracement to the .618 fibo of the last swing high/low. Looking for an initial run back to the S4 then another bottom and finally to the S5 at 1.3147
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USDJPY
WHAT I SEE: We saw the up move last week. Should consolidate for a little while before resuming a move to the R5 @ 95.37 and higher. Look for consolidation again at the Fib extensions (94.50-94.85)
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EURJPY – ALWAYS MY PREFERRED TRADE!!!!!
WHAT I SEE: -. We are moving up too strong to sustain so look for a pullback to the 125.48. Should get a bounce to the R5/Trend line/.786 and then hopefully direction. A breakout to the R6 is my bias but who knows?
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AUDUSD – A great smooth currency for Newbie’s!
WHAT I SEE: We are still making higher lows on this cross after the pullback. We are now entering a consolidation zone but if we get that break north look to the R4 initially then the Fibo extensions ( 0.9450 area) before resumption to the R5.
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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. We monitor multiple indicators as well as established chart analysis.
There is No “Holy Grail” in trading systems. Do not use our research or any other trading system without proper research on the asset.
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.
