I called the double bottom/top pretty nicely last week, they all bounced accordingly. AUD/USD even had another reason to bounce as well, the monthly trendline was a good launch pad. Anyways, since I didn’t make any forecasts last week, there’s nothing to talk about here. Let’s get on with this week’s forecasts, which will basically just be continuation of the bounces from the double top/bottoms.
Mixed – Monthly Chart
Mixed – Weekly Chart
Mixed – Daily Chart
Mixed – H4 Chart
Commentary/Technical Forecasts:
Basically, all FX pairs are continuing the bounce from their respective double tops and bottoms. Pullbacks are obviously healthy in any run, so the late week pullback is not surprising whether it originated from employment data or not. The technicals are good for a double top/bottom bounce play for weeks to come. Also, it was time for the trend to change directions anyways.