EURUSD Forex Forecast (May 7-11, 2012)

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EURUSD forex trading forecast for next week: May 7-11, 2012, in accordance with the rules and graphical analysis of forex strategies forex this site

As always, we analyze closing prices of the previous trading week, with respect to important levels of resistance to movement of the price + closing consider the priorities of candles.

1) Closing the month of April on Monday — a candle with a small black body at the top and bottom of a long tail. But note that the closing of the month was below the candle to close last month, which also suggests a possible roll back down, or moving down, which in principle is already happening now.

2) Closure of the week — the candle closed the sale of a confident, almost to the minimum of a week.

3) Closure of the candles on Friday — just confident enough to sell (the black candle without a tail from the bottom), moreover there was a census supposedly sliding door stop up the candles on Thursday, which means only one thing — strength of the trend down.

Last week, the priority has been a downward spiral, although the price and moved in a triangle. At this moment the price comes to the bottom line of the triangle, so its bottom line will determine the fate of future movements — will hang up or down sample.

In my view the priority of selling certainly present, but as the price approaches the trend line of brown, which can also provide resistance for the sales, but this time whether it will — we’ll see next week.

From that day on forex EURUSD forecasts will be brief, with only a description of important resistance levels for the price indicated by arrows on the chart the priorities for the sales and purchases, as well as a detailed forex videos prognosis.

This is due to start forex forum on the site, which also will try to provide forex forecasts and possibly on other currency pairs, at least in the form of MT4 templates, and possibly with video projections.

Now more about the important lines of resistance for the price, from which it is possible to conclude the transaction.

If the price moves upwards, it meets the following resistance from which can be regarded as a sale and purchase:

1) The red line down a small channel (on the motion last week) — as a possible hang down, and struck up a retest and possibly punctured channel + important Fibonacci level of the upward movement — a good place to buy.

2) level of 38.2% from the last downward movement (at the close of the market), if the minimum of change, the need to restructure and Fibonacci. + Dotted red line priority — selling

3) level of 61.8% from the last downward movement of the last week + gray trend line or + top line of the triangle. Priority — Sale

4) The top line is the background of the triangle. You can sell, but if the movement will be quite sharp up, the priority for shopping!

5) The top blue line of the channel long-term. Priority — both sides. If you punch up and closed above the day, and if possible place it retest the top-down — it’s very good for shopping.

6) The Brown Line Channel + it is possible the green channel. Priority for sale at the approach to the lines. Just about at this level is the level of 61.8% from the last movement in the triangle + false breakdown of the triangle

7) The projection of the red line of the channel (built on a minimum 13 March) 76.4% + level of the last movement in the triangle + false breakdown of the movement of at least

Then next week I think the price will not go the fastest.

If the price goes down after all, it meets the following resistance from which can be regarded as a sale and purchase:

1) The price has almost come to a brown trendline (third contact) + almost brown aka Canal + about the bottom line of the triangle + price moves in the red channel and on its lower border as possible to hang up. If the price breaks sharply on Monday and returned to the lines above them — you can review and purchase at the close of the candle lights out H4 or D1. If the price breaks through these lines slowly throughout the day and maybe even on Tuesday, the fastest sales will continue. While it is possible to hang from the bottom line of the red channel. to retest a broken line of the triangle.

Again retest — it’s a good point for making deals to sell.

With further downward movement of the resistance raises the following:

2) The red line of the channel (nearly horizontal, constructed on a minimum 13 March) + census 2 — the last minimum. There may be a purchase on the rebound (time and up to retest the triangle), and sales, again to retest after a bottom-up breakdown

3) level of 61.8% with a minimum of 16 January 2012

4) First + 2nd + 3rd line of purple + extensions 138.2, 161.8% of the recent upward movement of the triangle and the level of 76.4% of the upward movement of paragraph (3), depending on the time of approach to these price levels and lines trend.

5) The trend line is a red long-term trend

That’s all price levels of resistance.

Stop-loss will not describe, but they are set for the following levels of resistance or Fibonacci levels. Profits — similar to the following levels.

I think the principle of trading forex strategy is clear to almost all readers of my forex forecasts, who do not understand — this forex strategy is described in detail in the video course «Safe Forex» or view past predictions on this site:

An important trend lines, the breakdown of which is necessary to pay attention to (my personal opinion) — is the top line of the blue channel, and long-term bottom line of the triangle! I personally think that it is the breakdown of these lines and closing the day above or below them and will indicate the future prospects of the currency pair EURUSD. All that is between the lines — just a prolonged correction, the output of which can be quite dramatic and long …

To install the template MT4, you need to unzip it! If you «get off» the trend line, the line channels on the forex market open on Monday — to tinker with their own, according to the image in the forex forecast forex and video projection.

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