FOREX PRO WEEKLY June 02-06, 2014

[Videep]

GBPUSD is being surprisingly stubborn lol. I think it needs to move below at least 1.6715(.786 extension of AB leg) & later 1.6691(May low) to keep bearish hopes alive. Things could get interesting if it moves decisively above the MPP & gets back inside channel. Let's see..

 

[ochills]

I don't think butterfly buy is reliable on the top. interested with smaller butterfly though.

From my observation I believed smaller butterfly buy has failed, though It has attained it minimum target 0.382Fib level. Double bottom will be confirm soon because as am typing now a bearish bar is about to close on the 4HR chart. One interesting thing about the doble buttom is that it started it formation at the the minimum target of smaller butterfly, WPP, Fib extension & retracement levels. I think the next target now is 1.6664( WPS1 accompany with fib level and extension) this is the nearest resistance. Am afraid I will take my profit at Psychological level becos Jarrat Davist FPA Consultant have a different view and his upward turning point for BGP/USD is at 1.67000. I will go home with 56pips.

 

[minimax]

gbpusd

Cable & GB economy are one of biggest riddles to me..so far price behaved as I had expected..I think most probable is really developing wave XX with target 50% of last HH - LL at 1,6806, but this is just minimum..I think 1,6920 peak should remain in tact, at least this week...in case of surprise and drop into new LL I will change my count into 5 waves c of Flat correction with most probable target just below 1,65..we will see, soon, there are so many factors in play till the end of week..I only think ECB decision could impact bearish, but far away of impact to eurusd..

Good trading!

 

[minimax]

nzdusd

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!

 

[minimax]

gbpnzd

If kiwi will remain calm after ECB decision and gbp will be hit as EC currency, this development is probable..

Good trading!

 

[minimax]

eurcad

This pair has much cleaner patterns than eurusd..tomorrow everything should be totaly clear..

Good trading!

 

[Videep]

Possible butterfly buy on audusd?

 

[Lolly Tripathy]

finaly we will get a butterfly buy if price hold below 6780
GbpUsd

 

[Lolly Tripathy]

DollarIndex

1hr time frame

 

[minimax]

ECB

I think we get tremendous whipsaws on all eur pairs at the time of Draghi´s speach but as final outcome I expect eur weakness, very possible also gbp. I have no clue what will happen to aussie and kiwi, they might get stronger also because of carry trading. JPY could also be hammered because ECB decision should impact mostly to stock markets to the up side. Gold is also fragile, could drop or not. Big day ahead...good luck!


GBPUSD can first make harmonic to the upside, 60-80 pips are not a lot for it..

Good trading!