High Probability Market Forecast

[pro4Xtrader]

Hello fellow traders!

This is my first post and I would like to start a trade journal where I can share my trading ideas where I am always open for any comments, feedback and suggestions.

The reason this thread called "high probability" is because I'll try to share only cherry picked setups here.

Hope this will be a hot and friendly thread!

Regards,

 

[pro4Xtrader]

Ok, lets get started... Today I am looking for continuation of the move down on NZDUSD, it yet to hit my downside target and could provide a lot sell opportunities in the next 7 days.

 

[pro4Xtrader]

Lets look now on the EURUSD

Very bullish in my opinion and it has more less same downside potential, 200 pips. That would make a target around 1.0440 before/if it finally reverses up for mid/long term.

 

[pro4Xtrader]

Another interesting idea is on NZDCHF

It could either move down very fast or take time. Both scenarios are displayed on the chart.

 

[pro4Xtrader]

The lastes idea is on CHFJPY it appear to have some upside potential along with all JPY pairs, especially USDJPY

 

[pro4Xtrader]

The EURUSD looks very bearish and it just hit previous support area which is now should act as a strong resistance. Overall I’d expect it to drop to 1.0434 by 23th of April

 

[pro4Xtrader]

Clearly there is a long term uptrend on GBPAUD that appears to be still valid. I am expecting rate to continue rising targeting 1.9737. Target should be reached either by 7th of May or 7th of June.

 

[pro4Xtrader]

Although GOLD long term uptrend could have started, on the smaller timeframe it looks like it should correct back to 1168.

 

[pro4Xtrader]

US Oil – WTI just hit my upside target at 56 USD for a barrel. Not its an interesting level that should be monitored. Breakout above should trigger further extensions up while if rejected correction will take place.

 

[pro4Xtrader]

NZDCHF after forming a double top has very high probability of correcting down. I think we’ll hit 0.7235 by 23rd of April… yea we could see pretty fast drop.

 

[pro4Xtrader]

According to my analisys USDJPY eventually should move lower. However at the same time while the new cycle begins it could trigger a correctional move up for about 200-300 pips. Need to watch current support.

 

[pro4Xtrader]

Interesting setup on NZDJPY.
The long term picture looks pretty bearish, while in short term pair facing no resistance, while the support has been rejected. It could be a good long trade for approximately 100 pips potential gain. Soon we’ll find out.

 

[pro4Xtrader]

GBPUSD did break the support that implies that it will move lower eventually. However the cyclic analysis warns on the potential move higher first. So there are two trade setups, buy and sell … will be interesting to follow.

 

[pro4Xtrader]

For now USDJPY should continue moving up towards our target at 120.20. When/if hit I’d start looking for mid/long term sell opportunities as most pairs signaling on potential weak USD and strong JPY in the next weeks/months to come.

 

[pro4Xtrader]

Across the board AUD could be losing value, fast. This would establish trend on most AUD pairs, especially GBPAUD, EURAUD and AUDJPY. But in this particular case here is EURAUD likely scenario… quite large upside potential.

 

[pro4Xtrader]

NZDJPY just hit my downside target and closed above it. In addition a new cycle begins suggesting continuation of the trend up and potential double top before the big fall down.

 

[pro4Xtrader]

Crude Oil established a key support level at 54 Dollars for a Barrel. While at this stage new highs can be expected in the mid/long term, it is very likely that 54 level will be tested once again.

 

[pro4Xtrader]

NZDUSD in my view has confirmed the mid/long term downtrend. But now with the new cycle I think it will correct up slightly before the rally down begins. I’d be looking for selling opportunities around 0.76 area.

 

[pro4Xtrader]

The EURUSD just formed a double top that is confirmed by cyclic analysis. Next cycle should be down, ending on 14th of May and targeting rate of 1.0440.

 

[pro4Xtrader]

There is very similar picture on GBPUSD if compared with EURUSD. Also formed a double top and also with the new cycle. GBPUSD should target 1.4830, with the cycle ending on 5th of May.