Eurjpy Crested & 15700 Near Term Target; Euraud Edifice Is Establishing Not A Nadir Yet.

The week started almost with no major exchanges distances between supports and resistances, and constraints in risk-reward ratio did not allow exploitation for entering trades with major pips allocation. As such, forex average closing trades were ±20 pips this week. Not that satisfactory, and even with those major events this week market was preoccupied with dullness till Thursday.


As strange as it may sound, this is the first week in 2007 where ForexSurvivor shares out so many signals with very few allocated pips, not mentioning repeating some signals twice or more.


CRUDE OIL was the best performer this week with ForexSurvivor Signals followed by commodities (aud or nzd); while Yen was poorly performing and might be due to Reversal tactics where squeezing the price towards the best of the bottom was an approach.


Pecuniary resources was the Kiwi trade which was strategically set as a counter trend signal since April 10, and target achieved 30 days later. Reminder of the ‘completed’ signal: Short nzdusd @ 7330 in an uptrend, targeting 7275.


Last week, prepared sundries emphasized the writing-off the top of the Aussie, and AUD stratagem data charted gimmickry within rollercoaster behaviour to annul the concept of no top formation. Of help, was the whopping New Jobs Data that spurs AUD higher, and puts a rate rise back on the call by June/July. Any setback should not keep the AUD from a solid demand targeting 8500 by then.


Oldies Kryptonite:

Only EURJPY angled a new yearly top, while other crosses remained below yearly high for a second week. Monthly May Candle’ tail is being on the built and the near term proviso is to trade below today’s closing week. Strong Divergence is not supporting the uptrend. Allow final up tick before a vicious tumbling.

This week: Finally, after the Golden Week was over, Asian currencies adopted the awaited bullish Yen retracement momentum.


USDCAD has been in major downtrend, and it is incomplete. Allow some major choppy trades ahead of 11220. Target is heading towards 10700 the least, and to conclude in the long run towards 1.0000. Will usdcad applies the trading credence ‘Sell in May & Leave?’

This week: CAD strength continues and the move is adopting a small retracement for further strength.