May 13, 2012

Forex Weekly Currency Forecast and Signal for May 14 - 18, 2012



Here is my forecast for this week on $EURUSD, $GBPUSD and $AUDUSD .

An ounce of action is worth a ton of theory.
Ralph Waldo Emerson


Good morning all! This is my Forex Weekly Currency Forecast for May 14-18, 2012. And forecast is on main currencies: EURUSD, GBPUSD and AUDUSD. Hope you'll find it useful.

$EURUSD



$EURUSD chart is pretty clear for now; After starting last week with a big gap, price moved downwards and now I'm thinking that it has a potential to continue it's movement lower. Therefore, my weekly currency forecast on forex market:

You can see the chart above. Here is clear that price will probably move to weekly support line. And then bounce. The strongest support/resistance levels are: 1.3180, 1.3150, 1.3100, 1.3020, 1.2970, 1.2950, 1.2840, 1.2800, 1.2690 and 1.2630 Watch my tweets for hourly forex market tips and signals. And always know that you make decisions on your own risk.
(Current Price: 1.2916)
The most significant news for this week: May 14-18, 2012

$GBPUSD



And what can I say on GBPUSD, And Forex Weekly Currency Forecast for this week is:
It is more probably to go down to about 1.6040 and bounce from strong trend line and fib 23.6 fib, and that's why I've added fib on this chart.  and then go down to about 1.5740 - fib 38.2 on 4H TF or lower. And the maximum of downwards move is 1.5650. Then if the price will reach it, it is more likely to go up for about 100 pips. The Support/Resistance levels are: 1.6190, 1.6120, 1.5990, 1.5840, 1.5730, 1.5640, 1.5550, 1.5430 and 1.5340 This is technical analysis and for getting more pips or to avoid loses watch to news, for this please watch the real-time news and follow me on twitter to catch some of fresh ideas and forex signals, and subscribe to my blog for daily currency forecast on forex market.
(Current Price: 1.5864)
The most significant news for this week: May 14-18, 2012

AUD/USD

My setup on $AUDUSD



USD/CHF

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For the most significant news for this week: May 14-18, 2012 go this link

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Have a nice day! Follow me on twitter for real-time updates and forex signals.



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