High Probability Market Forecast

[pro4Xtrader]

If we look at AUDUSD on Daily chart the cycle down has already begun on the 27th of March and should be ending on the 6th of May… hhh almost the same as GBPUSD. Good trading to all!

 

[pro4Xtrader]

I think it is obvious that there is significant support at 54 level and significant resistance at 58. At this point with the double top on the lower timeframe WTI has all chances to correct back to 54, after witch we might see uptrend continuation.

 

[pro4Xtrader]

NZDUSD entered the downtrend cycle that could last approximately 2 months. As a target I see 0.7270 area. As it currently holding the resistance, there could be a good entry point presented early next week.

 

[pro4Xtrader]

EURAUD cold accelerate growth mainly due to the AUD weakness. Trend up could continue for another 2 week targeting 1.4130, that makes it approximately 250 pips higher than current price.

 

[pro4Xtrader]

AUDCHF continues trade in the range with high probability of re-testing strong support at 0.74 area once again. When/if broken, it will open for more downside potential.

 

[pro4Xtrader]

GBPUSD reached the upside target. It could face strong resistance at this level and there is potential for reversal down.

 

[davidwebbthegreat]

Hello I'm new to trading, could you please tell me what charting software you use thank you

 

[pro4Xtrader]

GBPCHF should have the final swing down before/if it reverses. Another 100pips up is quite likely in the very near future.

 

[pro4Xtrader]

CADJPY did break below the rising channel that could be a confirmation of a long term downtrend. I think this scenario has the right to live and could be developing over the coming months. Besides, if you look at all JPY pairs, they all have some sort of signals of a downtrend… well for me at least.

 

[pro4Xtrader]

Break below the descending triangle confirms the downtrend. At the very minimum I’d expect a triple bottom.

 

[pro4Xtrader]

GBPCHF broke out from the range that could push price much higher. Currently we can see a pullback to the previous resistance, and it could be a good spot to buy.

 

[pro4Xtrader]

CADJPY holding the support nicely that should be short term uptrend confirmation.

 

[pro4Xtrader]

While AUDCAD did hit the upside target it might very well test the strong resistance around 94.00 area

 

[pro4Xtrader]

While GBPCHF formed a double bottom I’d expect now a correction up to 1.4230

 

[pro4Xtrader]

For AUDUSD looks reasonable to retest 0.77 support area considering the break below the ascending channel. Lets see…

 

[pro4Xtrader]

The downtrend channel was broken that should push price higher, although currently GBPUSD is at the resistance and first I’d expect a drop to 1.48

 

[pro4Xtrader]

According to cycle analysis AUDCAD should start moving. Considering that it is now at the top the move is most likely will be down to re-test major support.

 

[pro4Xtrader]

EURCAD rejected the downtrend trendline and now we could see a decline back to the middle on the channel. Cycle analysis supports the idea that EURCAD is at the local top.

 

[pro4Xtrader]

While GBPCAD broke above downtrend trendline, furhter rise should follow. But perhaps its not the best time to enter long trade since it is still in rage trading mode where move downt to double top first is quite likely.

 

[pro4Xtrader]

GBPUSD approaching massive resistance area. If it hold a shart drop back to 1.48 could take place.