S G6 Digest - Prices For The Week Ahead

Below is a brief recap of last week’s price projections and the price targets for next week.

The Euro continues trading in a narrow range and after reaching the weekly upside target reversed and broke below the CIT Cloud. Average up/down swing duration 5/3 days. The trend remains neutral and the projected price range for next week is 1.218 - 1.245:

Similar to the Euro, the Pound reversed course after reaching the weekly upside target. Average up/down swing duration 5/4 days. The CIT Channels projected trading range for next week is: 1.386 - 1.422: 

 

The Yen bounced off channel support, narrowly missing the weekly downside projection, and staged a sharp counter-trend rally which fizzled at the second upside target of 107. The daily trend has turned neutral. Average up/down swing duration 4/5 days. The projected trading range for next week is: 105 – 107.5:

Support for the USD against the CAD held and the range-bound trading action, which has been in place since March, continues. Average daily swing duration is 5/7 days. Currently, the USD finds itself in the middle of the projected trading range for next week: 1.275 – 1.301:

Although the uptrend which started in February is technically still in place, the USD/CHF bullish momentum seems to be weakening.  As a result, the USD narrowly missed both the upside and downside range projections.  Average daily swing duration is 4/5 days.  Projected range for next week: 0.9425 – 0.965:

The slide of the Aussie dollar continues. It missed the upside target by 5 pips but found support exactly at the lower projected range.  Average daily swing duration is 6/4 days.  Projected range for next week: 0.757 – 0.775:

 

 

 

 

 

 

 

Disclaimer:Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that ...

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Wendell Brown 4 years ago Member's comment

Nice, but charts are a bit too small.