Hello Traders!
I’m going to keep this short since it’s a busy weekend, four birthday’s are coming up this week in my family (including my own). Plus based on what happened in the markets this week, I’m not sure about the forecasts anyways.
As you might’ve noticed, the excel spreadsheet this week contains [?] beside each forecast. This is the new format for my “unsure” forecasts, so regardless of what the markets turn out. I just write off this week like I have in the past for other “unsure” forecasts. But instead of writing unsure, I’ve decided to “guess” a direction just to see what happens. In addition, as usual, the H4 chart will contain projections so use those to figure out why I’ve “guessed” these forecasts.
Monthly Chart
Weekly Chart
Daily Chart
H4 Chart
Commentary / Technical Forecasts:
USD/CAD went up and GBP/USD went down, so those were fine. But then both AUD/USD and EUR/USD went up as well, so WTF happened? Could be the US elections or the European banking thing (haven’t read up on either one, but it appears both are “hot news” right now. So based on the weird price movement of AUD/USD and EUR/USD, I’m not sure how markets will react to possibly “correct” itself next week, so that’s why I’m unsure with my forecasts this week.
Until next week, Good Luck Trading!
Brian