High Probability Market Forecast

[pro4Xtrader]

It doesn't look like there is a clrear direction on USDJPY. While it continues to reange, price has a good chance to hit 120.80 resistance (or higher) once again.

 

[pro4Xtrader]

NZDUSD broke below the channel and it cold be pretty fast till it reaches 0.73 support area.

 

[pro4Xtrader]

USOIL is in a strong uptrend that does not seem to be over yet. I’d expect a final swing up to 64 area. If it breaks above further extensions up might follow, if holds, correction should take place.

 

[pro4Xtrader]

I just analysed GBPUSD and from what it looks, could be a perfect sell entry point, although longer term it looks bullish, interesting to follow..

 

[pro4Xtrader]

Here is an alternative scenario for GPBUSD where it could continue rising without correction.

 

[pro4Xtrader]

AUDJPY is in a clear uptrend that has still some more upside potential. Then there could be a very nice drop

 

[pro4Xtrader]

EURCAD could have final drop from this point targeting 1.3350

 

[pro4Xtrader]

This is quite a long term outlook on Gold but still looks interesting. According to my cycles we could see a steady growth on gold for years from this point.

 

[pro4Xtrader]

With the beginning of a new cycle GBPAUD could have a strong rally up.

 

[pro4Xtrader]

There my latest version of the GBPAUD scenario, according to which it could have a swing up of over 600 points

 

[pro4Xtrader]

NZDUSD bouncing of the channel that could trigger another wave down, Next buying cycle in two weeks and I'd expect NZDUSD to hit 0.7280 by this time.

 

[pro4Xtrader]

What it seems to be that EURUSD is rejecting the ascending channel that could invite sellers in a short while. Cycles support the idea of the EUR being at or near the top of it's cycle. If we hold current resistance I'd expect EURUSD to return to the major technical as well as psychological support around 1.1000.

 

[pro4Xtrader]

GBPCHF bounced off the support at 1.4350 level, forming a local double bottom. Cycle analyses suggest that 3 SELLs could be followed by 3 BUYs. Currently pair is entering the first buying cycle.

 

[MajorMagnuM]

what ta are you using to base these forecasts?

 

[pro4Xtrader]

AUDCAD clearly moving within the ascending channel. Recent bounce of the top of the channel suggest a correction down towards 0.9525 area. Cycle analysis indicates that corrective wave could end on the 18th of May.

 

[pro4Xtrader]

USDJPY has rejected a long term uptrend trendline signalling on a potential strength. While 118 level is not penetrated, buyers will dominate, potentially pushing price once again up to form a triple top. Cycles suggest the beginning for the upswing in the next couple of days. At the same time our longer term view suggest a strong correction down once/if USDJPY reaches triple top area.

 

[pro4Xtrader]

If EURNZD manages to hold current resistance, with the weekly close below 1.5316, it is very likely correction down will follow. First target could be 1.5000 as a round psychological level. However there is technical resistance as fart as 1.4680 at the 23.6% level.

 

[pro4Xtrader]

While NZDCAD broke above the descending channel it could provoke another extension up towards 0.9070 area where the 23.6% fibs is crossing with the downtrend trendline. The trendline itself should act as a resistance. In addition, cycles point to the time where fibs and trendline is crossing.

 

[pro4Xtrader]

AUDCHF could be getting back to the significant support area near 0.7330. cycles suggest that the downside target could be reached as fast as tomorrow. Besides prise moves within the acceding channel without breakouts till this point.

 

[pro4Xtrader]

AUDUSD broke below the uptrend trendline suggesting further decline. Target is located near previous support as well as previous resistance near 0.7750 area.