18.02.08
I am sorry for a delay, there were problems with the internet
General view
It seemed that the last week behaved in such a way that should cause the dollar to continue its weakening. But as I repeatedly stated in my previous forecasts, that was nothing but a correction and the dollar will continue its growth as early as the European session opens on Monday. To tell the truth, dollar against euro will grow not as fast as against GBPUSD. This is caused by the picture over EURGBP: the pair intends to break the “triangle” shape at the daily graph and to go up to the level 0.7770. Gold with LS crude oil unambiguously show the descending movement, which is also in favor of dollar
EURUSD
H4
The pair is being traded in “a-a+” ascending correction channel. Bounce off the “X” trend line implies correction’s completion and, upon breaking the lower bound of “a-a+” trend, the beginning of a descending trend towards “M” trend line (the lower bound of the “triangle” shape). 1.4515 is the level of a minor resistance.
Daily
The pair is being traded within the “triangle” shape (“M-M+” channel), I expect its breaking downwards (breaking of “M” trend line). It’s clearly seen by looking through the candles that the current ascending movement from “Y” trend line is correctional. Bounce off “X” trend line implies correction’s completion and the beginning of a descending trend to “M” trend line (1.4430), and upon its breaking, to trend lines “W” and “Q” (1.4290).
Weekly
Owing to the support from the “Q” trend line, the “triangle” shape has been formed (“M-M+” channel). Its lower bound “M” has to be broken, leading to the breaking of “E-E+” ascending trend and the movement towards “N” trend line (1.34/1.33).
http://forexmillion.com/images/GRAPH...d%20weekly.gif - weekly
Monthly
The pair is over “Q” trend line, which, having offered support to the pair, gave a possibility for a turned “triangle” shape to be formed at the Weekly graph. Starting from the fact that at the Weekly graph a turned “triangle” shape has formed, and it has to be broken downwards, “E-E+” ascending trend will be broken also downwards and the pair will forward to “N” trend line (1.34/1.33). A correction to levels 1.42/1.43 is possible from this trend line. Further the descending movement will be amplified by relatively fine formed “double top” turned shape (“G-G+” channel). If this shape (“G” trend line) will be broken, EURUSD will go down to 1.1900.
http://forexmillion.com/images/GRAPH...%20monthly.gif - monthly
GBPUSD
H4
“a-a+” ascending correction trend was broken, so now the pair is on its way down to trend lines “N” and “Y” (1.9430).
Daily
The bounce off the higher bound of “C-C+ descending trend confirms the pair’s intentions to break “N” trend line and to continue the descending movement with the target 1.9076.
Weekly
The breaking of the lower bound of “E-E+” ascending trend implies breaking of the red “N” trend line and reaching the lower bound of “G-G+” channel (turned “double top” shape), the level 1.84/1.85.
http://forexmillion.com/images/GRAPH...d%20weekly.gif - weekly
Monthly
A turned “Wolf waves” model was formed (bounce off the 5th wave) with the target 1.7145. The breaking of the black “E-E+” ascending trend confirmed this model and the pair’s intentions to break “N” trend, as well as the lower bound of the turned “double top” shape (1.84/1.85), upon breaking of which the target of the 6th Wolf’s wave, the level 1.7145, will be reached.
http://forexmillion.com/images/GRAPH...%20monthly.gif - monthly
USDCHF
Н4
The breaking of “R” trend line (1.1090) will open the road of growth to the target 1.1270.
http://forexmillion.com/images/GRAPH...sdchf%20h4.gif - h4
http://forexmillion.com/images/GRAPH...hf%20daily.gif - daily
USDJPY
Н4
The pair has broken the “triangle” shape. Although it wasn’t really straight, nevertheless the breaking of this shape is a signal to the beginning of an ascending trend. “Y” trend line can offer some resistance, but the pair is aimed at the level 109.36.
http://forexmillion.com/images/GRAPH...sdjpy%20h4.gif - h4
Daily
The breaking of “C-C+” trend assumes the movement from “E+” trend line to 111.00.
http://forexmillion.com/images/GRAPH...py%20daily.gif - daily
Weekly
http://forexmillion.com/images/GRAPH...y%20weekly.gif - weekly
Monthly
The pair is being traded within a triangle. The level 106.20 is a very strong support, I expect the movement from it to 115.85.
http://forexmillion.com/images/GRAPH...%20monthly.gif - monthly
GOLD
Н4
The “triangle” shape is formed with “R-R+” bounds. The breaking of “R” trend line together with “Y” opens the road of lowering towards “E” trend line – the lower bound of the ascending weekly trend.
http://forexmillion.com/images/GRAPH.../gold%20h4.gif - h4
Daily
The turned “Wolf waves” model is formed with the target $860-870. The breaking of “Y” trend line will confirm the model and intentions of the descending movement. Upon breaking of the lower bound of “E-E+” ascending trend (which is supposed to happen) the pair will go down to the level $800.
http://forexmillion.com/images/GRAPH...ld%20daily.gif - daily
EURGBP
http://forexmillion.com/images/GRAPH...urgbp%20h4.gif - H4
http://forexmillion.com/images/GRAPH...bp%20daily.gif - daily
LS Crued oil
Н4
The bounce off “X” trend line occurred, what assumes the breaking of the lower bound of “a-a+” ascending correction trend and the movement towards the lower bound of “C-C+” channel ($89). The breaking of “C” trend will give the pair a chance to go down to “Z” trend line ($85-56).
http://forexmillion.com/images/GRAPH...20oil%20h4.gif - h4
Daily
We could suppose that the “double bottom” shape was formed, but it is impossible during the correction. That’s why I consider the bounce off “X” trend line as a sign of turn. From this trend line I expect lowering to “Z” trend line ($85-86).
http://forexmillion.com/images/GRAPH...il%20daily.gif - daily