EUR/USD: With the strong reversal last week, this pair will keep us in suspense as to just when the MT reversal will be. It is expected to see the pair continue to the WS2 at 1.2534 this week. There is a possibility it could continue to the mid—1.2400’s, but if the WS2 contains, then we should see the pair peak at the WR1 at 1.2743.
GBP/USD: This pair is very close to make an even strong move south. All of a sudden, 1.5567 is not only MT containment, but it is almost unattainable for a long time. This week any shot of moving higher will be limited to the WR1 at 1.5389 or possibly the WR2 at 1.5463. Watch for 1.5031 over coming weeks. If that is taken out convincingly, then the low at 1.3503 established in Jan. ’09 is on the radar.
USD/CHF: I mentioned last week that we should be seeing a move (Words to that effect.) to the low-.9900’s. Last weeks strong ending further confirmed that. That WS1 is .9467, and that may not be hit this week, as the pair should be marching on to the WR2 at .9463 and could be higher.
EUR/CHF: The WR1-hourly kijun combo at 1.2095 might be containment this week as we should see the move south continue to the WS2 at 1.2014.
AUD/USD: As of this writing, the WS1 at 1.0253 was hit. Provided it contains, then we will have one last leg north, as from that point the R zone from 1.0445—1.0495 will be hit this week. If it is pierced convincingly then we head to the WS2 at 1.0189, and the broad range consolidation continues.
USD/CAD: The favored MT scenario is for the UP to continue and eventually take out the recent top at 1.0657. As of this writing, the WR1 at 1.0281 was already hit, and we had a strong reversal back to the WP. It appears the consolidative process is going to continue. The WS2-daily TL combo at 1.0134 needs to hold or the MT outlook changes drastically.
NZD/USD: As of this writing, the WS1 at .7885 was hit, and we had a sharp reversal. As long as the WS1 holds, then we should be in the middle of the final leg north. The WR2 at .8045 will be hit, and if broken, it will clear the way to .8106. I’m now looking for that crica area to contain before the big move south.
EUR/GBP: Last week’s strong bearish finish did not disappoint, as this pair is headed to .8167, as that circa area will be the negotiating point for the drive that will head north the rest of the year. A strong drop this week to the WS2 at .8186, and even a little lower could help bring an end to the trip south.
EUR/JPY: Last week’ strong reversal has now put the WS2 at 96.03 for this week virtually on the radar. The drop should go lower towards the MS2 at 96.12, and even the WS3 at 95.90.
GBP/JPY: The strong bearish finish last week has forced this pair to turn the corner, as it was key in determining a future directive for it. The WS2 at 116.84 is on the radar and a further drop to the WS3-MS3 at 116.01, 115.97 could also be seen. MT, the YS1 at 113.01 is now on the radar. After a bounce from that area, we’ll see the drop continue to the YS2 at 106.53. Overall, it is going south for the entire year.
EUR/AUD: It’s hard to believe this pair is dipping deeper yet. The WS1 at 1.2231 will be hit this week, and the WS2 at 1.2147 could also be bit. The pair does forewarn to keep the stops close as it is due for the huge reversal. The longer it waits, the bigger it will be.
0 comments:
Post a Comment