FOREX PRO WEEKLY June 02-06, 2014

[minimax]

Gbpusd

So far so good...but spike to the upside is still in play but should be limited with 1,6812 as 3drive sell..

Good trading!

 

[Sive Morten]

I am looking for reaction at this level, we might get temporary kiwi strenght, maybe just until NFP..

Sive could check for diNapoli patterns in this zone, daily..

Good trading!

Hi Buddy, on daily I found nothing. On weekly - there was DRPO "Sell" but it already has reached the target -50% support, where market now is.
If you plan extended trade - be careful, since on monthly chart market has not quite reached yet all time AB=CD target and is forming huge bullish dynamic pressure. We've talked about it in our research dedicated to NZD. But I suggest that you probably trade intraday mostly...

 

[cosmos]

Double repo buy forming on the daily chart for the Euro if it closes above the 3x3?

 

[Lolly Tripathy]

GbpUsd

 

[minimax]

usdjpy

Constructions of waves makes my count as big Flat...I expect reaction between 102,13 and 50% but move should not exceed last HH 102,786..NFP could push price lower into wave c & 3ED..

Good trading!

 

[minimax]

Gbpusd

I do not like current leg up! If I close one eye I could treat it as normal single corrective pattern (if I close both it is perfect, hehe) so I would not be surprised that at NFP we get whipsaw down to 50% at least and new high, then I might claim it as flat..maybe I exaggerate and complicate..we will see.
For 3Drive price must stay in channel.

Good luck and happy trading!

 

[Kleinerbroker]

NFP and other passed & not much more news to come this week .Bullish momentum disappeard GBPUSD and EURUSD , I will enter short but with care, could end up in weekend positions . KB