EURUSD Forex forecast (18 — 22 June 2012)

Dealing Center NordFX

EURUSD forex trading forecast for next week: 18 — 22 June 2012, according to the rules and graphical analysis of forex strategies forex this site

First of all, analyze the closure last week about important price levels and the support and resistance lines:

1) Sunday closed candle with a small black body and long tail from the bottom, indicating that the priority for the transactions for the purchase.

2) Still got close below the red trendline long term, although it is already on the retest took place last week.

3) closed Friday, though a white candle, but still more resembling a candle uncertainty.

Conclusion: still considered as an option sales next week, and shopping!

First of all, before you describe the major resistance levels for the price of EURUSD next week, we determine the underlying trend and the main line of resistance, release from which the highest priority:

1) First of all, the price is still to be adjusted downward movement in the background, blue downlink.

2) There is a pink background correction in the channel.

These channels are most important at this time.

3) It is also the highest priority is the bottom line of green and red channel long-term long-term trend line, from which a retreat last week, has already occurred, but because the price is still below this line, then the deal is still up for sale has priority!

Since we are interested in additional signals at important levels of resistance rates, such as Fibonacci and so.

All the other trend lines, channels, forex, Fibonacci levels are minor and they can be considered only short-term deal.

Now let’s look at the important resistance levels for prices above the closing price of the Week

1) On Friday, the price went up to the maximum of the week (red long-term trend line + level at 38.2% Fibonacci retracement), but never copied it. It is therefore possible that the price will try to break through the red trend line upwards. On this basis, the breakdown of this line and closing the H4 candle minimum, and D1 is better to talk about a possible move up at least to the level of 1.2740 (38.2% Fibonacci).

If the price is still fighting off the red trend line downward to retest the blue channel and closed at least H4 candle below this line — you can consider selling. Or just may sell if the price breaks the red line up and fighting off the 1.2740 level (38.2% Fibonacci) and not only daily candle closes below it. And if it happens more and retest after a bottom-up — it’s a very good option for the transaction to sell.

2) The level of 1.2740 (38.2% Fibonacci) — can rebound, but if the day closes above the red long-term, the priority is still to buy. And the next goal rebound — the red trendline and retest the top-down. Next we look at the closing date with respect to long-term trend of the red line, paragraph (1) above.

3) If the price is still exceed the level (2), the next resistance level — the blue trend line is probably the top line + pink background channel. At that point it is quite possible the equality movement formed in the pink channel and figure out a pattern reminiscent of FLAG. If so, and will then hang down quite possible with the immediate goal — minimum Census June 1, 2012.

If the price breaks the trendline still blue, then retest it from top to bottom — buying with the immediate goal — 1.29.

4) Well, the next resistance level — the top line of the long-term blue channels + 61.8% Fibonacci (1.3020). Reject down quite possible, but if the price breaks through and closes his day above this line the channel and it is retest — shopping!

Below the closing price of the week we are interested in the following levels of resistance and how to behave in the price are:

1) 38.2% Fibonacci (1.2579) + bottom line is the background of pink channel. If there is a breakdown of the channel bottom, then retest it as a bottom-up — see as a sell signal.

2) Another important Fibonacci level of congestion (38.2% + 61.8%) at this point — 1.2526. From this level it is possible to hang up if the maximum of the last week will not be overwritten.

3) The lower orange line channels — it will be a third approach to it and are interested in how close the H1-H4 candle about it. Its bottom-retest upward important Fibonacci level, for example — a signal to sell.

4) 1.2433 — Fibonacci 61.8% (if the maximum of the last week will not be overwritten).

5) long-term Green Line Channel + Census minimum June 1, 2012.

Here is next week, I think the price will not go …

Stop losses and profits (or at least partial) we set the following levels, according to the forecast. Just do not forget to follow their own schedule during the week and do graphical representations and to find more forex signals.

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