June, 2012


24
Jun 12

FX Weekly Insight including Price & Time Projections

Hello Trader

The Weekly Insight will be suspended for July and August and return in September. There will be one more issue before the break.

Check out our daily analysis of 6 major currency pairs, FX NOW at http://cashmechanics.com/fx-now.html

Weekly Insight  (analysis by Al “Gunny” Davis) 

EUR/USD:  Week of 6/24/2012

REVIEW

At the time of last week’s analysis the EUR/USD was trading at 1. 26361.  Our bias called for a rally of the EURUSD towards the upper range of the 1.26630 – 1.27830 bullish target zone and potentially up to the target zone of 1.28577 – 1.28754 (Mnr Tgt Zn).  We anticipated a close & retest that stayed above these zones would open the way up towards the bullish target zone of 1.29370 – 1.29770.  Our exit strategy called for a decline of the EURUSD towards the bearish target zones of 1.24770 – 1.24170 and potentially down to the target zone of 1.23170 – 1.22817.  We anticipated a close & retest that stayed below these zones would open the way down towards the bearish target zone of 1.21929 – 1.21307 (MER 3). 

Our “Timing Projections” were 6/16/12 – 6/17/12 and 6/21/12 – 6/22/12.  On 6/18/12 the EUR/USD rallied to a high of 1.27468 and on 6/22/12 it declined to a low of 1.25191.  The EUR/USD closed the week at 1.25677.  There’s a factor of +/- 2 when using timing projections.

ANALYSIS

Our long-term price analysis still remains bullish as the waves appear to be unfolding in a larger degree corrective pattern (pennant, wedge or triangle).  A decline below 1.18758 would signal the EURUSD is trading within a flag or descending channel and not within a pennant, wedge or triangle.  We’re anticipating a long-term rally that will trade towards and potentially beyond the bullish target zone of 1.57770 – 1.60380.  Our bias calls for a decline of the EURUSD towards the bearish target zones of 1.24770 – 1.24170 and potentially 1.23170 – 1.22817.  We will then anticipate a retest of the “FCQ” & “FF” trendlines.  A close & retest that stays below these bearish target zones will open the way down towards the target zones of 1.22370 – 1.21170 and potentially 1.21929 – 1.21307 (MER 3).  Our exit strategy calls for the EURUSD to retest the “FCQ” & “FF” trendlines.  A close & retest that stays above these trendlines will open the way up towards the target zone of 1.28577 – 1.28754 (Mnr Tgt Zn) and potentially 1.29370 – 1.29770.

Our long & short-term momentum indicators are mixed and signal a potential sideways trading range is a possibility over the next few trading days.  The decline off of the 1.60380 high appears to be unfolding in a pennant, wedge or triangle shaped pattern.  These patterns are continuation patterns and support our long term bullish outlook.  A failure of this pattern would lead to much larger declines.  The pattern could also be forming a descending channel or bullish flag pattern.

TIMING

Our long term timing projections allow us to anticipate the potential of a significant swing point occurring between 6/24/12 & 6/28/12.  Our short term timing projections allow us to anticipate a minor swing point may occur between 6/27/12 – 6/28/12 and also between 7/2/12 – 7/3/12. 

Our timing projections have a factor of +/- 2 and allow us to anticipate potential turning points in the marketplace.

Come join us during our daily chat room sessions as well as our weekly webinar series and observe our methodologies and strategies that allow us to make these types of accurate projections. Register at http://www.cashmechanics.com/chat-room-pay.html and receive access and the Chat Room discussion schedule.

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Best regards,

Pat Arcadipane
Chief Executive Manager
Cashmechanics.com

 

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