Hello Traders!
Welcome back to another week of FX Analysis!
I’m not sure with this week’s forecast, so all of the forecasts have [?] beside them. 3 of the pairs are currently at higher timeframe critical points.
We’re closing in on the end of the year so within a few weeks, I’ll stop making forecasts temporarily anyways. December 2nd will the last forecast I make for 2012 then I’ll take a month off (as most traders do due to winter holidays, liquidity is gone) and will be back on January 6th in the new year.
Monthly Chart
Weekly Chart
Daily Chart
H4 Chart
Commentary / Technical Forecast
Given that I have a busy day and I’m unsure with my forecasts this week, I have nothing much to say except to point out the levels to watch for.
USD/CAD [Short (?)]: It already flirted with the weekly trend line this week, waiting to see what happens going forwards.
AUD/USD [Long (?)]: This is simply correlated to the other pairs but is unsure as well given the other 3 are near higher time frame lines. But it’s coming up on the weekly trend line within 200 pips as well.
EUR/USD [Long (?)]: Already flirted with the daily support level, waiting to see what happens going forwards.
GBP/USD [Long (?)]: Coming up on the daily trend line, waiting to see what happens going forwards.
PS: Last week’s projections were pretty decent with the exception of AUD/USD, the other 3 took one of the projected paths that I drew….
Until next week, Trade Safe and Good Luck Trading!
Brian