This is what I see in the Forex starting the week of Oct 11th – 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.

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!

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



WHAT I SEE:  The EURUSD moved to the upside last week and tested the 1.4818 area at the top.  Having pulled back to the .382 and had a small bounce we could see a move up that would retest 1.4818 to 1.4851.  If we move south then the bottom could possible see 1.4611 or even 1.4588 being tested.




WHAT I SEE: – The USDJPY went down to 88.00 and then swung to the topside very near 90.00.  Nice 200 pips swing.  Being at the top we will watch for a test of 90.00 again and if a break to the topside occurs watch for run to the R4 @90.36.  If overall trend continues and we swing back to the downside then watch for the 88.00 as a nice target. 






WHAT I SEE: – The EURJPY made it through the wedge but to the topside.  We see it has broken out of the R4 @ 131.38 and looks to be heading toward R5 at 131.82!  Will we see this and perhaps a run at R6 this week??  Or will it bounce off the MA and turn south and start the testing back down the ladder toward 129.00 again for old times sake?  We will keep an eye on this to see.



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.