Sunday, 18 November 2012

Weekly Forecast 19/11/2012

Key levels to watch for in the coming week (19/11/2012)

Pair
Price levels
Bias
Comments
AUD/CAD
1.027, 1.0386
Neutral
Break back below 1.0386. Consolidation bias.
AUD/JPY
83.563
Bull
Clear break and hold of 83.563.
AUD/NZD
1.269, 1.28090
Bull
Watch for rotation back into resistance turned support @ 1.269
AUD/USD
1.03238, 1.04091
Neutral
Consolidation between 1.03238 and 1.04091
NZD/USD
0.81019, 0.83551
Neutral
Bullish pin at the bottom of the range.
EUR/USD
1.25907, 1.2696, 1.2803
Bear
Break of double top pattern. Test of support turned resistance last week @ 1.2803. Short term consolidation.
EUR/GBP
0.79527, 0.80038, 0.80578, 0.81136
Neutral
Consolidating in range.
EUR/CAD
1.26, 1.28
Bear
Test and rejection at 1.28037.
EUR/JPY
102.2719, 103.849
Neutral
Test of resistance at the top of the trading range.
EUR/AUD
1.217, 1.2374
Bear
Tested previous support turned resistance @ 1.2374
GBP/USD
1.5757, 1.59134, 1.59774
Bear
Slight bounce last week. First resistance @ 1.59134, then 1.59774.
GBP/AUD
1.5277, 1.54658, 1.5634
Bear
Small bounce in the previous week. May consolidate between 1.5277 and 1.54658.
GBP/JPY
125.66, 127.011, 128.177, 129.458
Bull
Break of resistance at 128.177 in the previous week. Targeting 129.458.
GBP/CAD
1.57797, 1.59528
Bull
Currently consolidating between 1.57797 and 1.5972.
USD/CHF
0.94176, 0.95116
Neutral
Successful test or resistance support @ 0.94176.
USD/JPY
79.273, 80, 80.541, 81.683
Bull
Huge run targeting next resistance @ 81.683.
XAU/USD
1672.5, 1698.3, 1736.05
Bull
Consolidating in range between 1698.3 and 1736.06.

My setups to start off the week

Pair
Setup
Trend Direction
Comments
AUD/USD
Pin Bar
With
1.03185 LE
1.02804 Stop
1.0410 Limit
Risk to Reward: 1/2
EUR/CAD
Pin Bar
With
1.2793 SE
1.28371 Stop
1.26 Limit
Risk to Reward: 1/6

Sunday, 11 November 2012

Weekly Forecast 12/11/2012



General Commentary


SPX 500 in decline. Clean break of 1400 level off the previous week’s pin.
USDOLLAR index still at the top of the current range after a test of the range bottom.
Pair
Price
Bias
Comments
AUD/CAD
1.027, 1.0386
Bull
Break and hold of 1.0386. Inside day closing out the week.
EUR/AUD
1.22259, 1.2374
Bear
Inside day. Watch for rotation back into 1.2374.
GBP/AUD
1.53109, 1.54658, 1.5634
Bear

AUD/JPY
81.969, 82.959, 83.563
Range
Pin bar at Friday close.
AUD/NZD
1.269
Bull
Watch for rotation back into resistance turned support @ 1.269
EUR/USD
1.25907, 1.2803
Bear
Break of double top pattern, targeting 1.25907.
NZD/USD
0.81019, 0.83551
Range
Ranging market.
AUD/USD
1.03238, 1.04091
Range
Price action closing back into the range.
USD/CHF
0.93915, 0.94301, 0.94704
Bull
Tentative break of previous resistance at 0.94704
GBP/USD
1.5757, 1.59134, 1.59774
Bear
Accelerated losses below 1.59774. Looking to target 1.5757.
USD/JPY
79.273, 79.65
Bear
Friday pin bar close off key support level.
EUR/GBP
0.79527, 0.80038
Bear
Watch for retest of 0.80 level.
GBP/CAD
1.57797, 1.59528
Bear
Engulfing bearish candle on Friday.
EUR/CAD
1.26, 1.28
Range
Price action consolidating between 23.6% and 38.2% Fib.
EUR/JPY
-
Bear

XAU/USD
1713
Bull
False break of 1698.3. Price action pushing back through 1725.