Trading opportunities: Since hitting a high of 67. 70 USD, the market has transitioned into a phase of downwards movement. Cycles and calculations suggest that the drop from the live forex trade ideas of February isn’t complete. I reckon that this downwards correction will continue through the 11th of April and stop at around 57.
We expect to see 2 upwards corrections over the course of the next 40 days. If the daily bar closes above 67. Trading opportunities on the currency pair: On the back of declining oil prices, I’m expecting to see the formation of a W-model with targets of 1. The case for growth will disappear if the weekly bar closes below the A-A channel. Trading opportunities on the currency pair: last week, this cross declined by 293 pips to reach 1. This resulted in a double top formation, which will be confirmed should the pair drop below 1. My forecast has the price breaking out of the B-B channel downwards, followed by a further drop to 1.
Short-term trading idea FX EURCHF – looking down: correction to the 38. Trading opportunities on the currency pair: since the euro’s collapse in 2015, it’s been trading within the boundaries of the 3-year B-B channel. Considering that the upwards impulse is running out of steam, my forecast is projecting an exit from the C-C channel and a decline to 1. I’m expecting a downwards correction amounting to 38. Trading opportunities on the currency pair: The price is moving according to plan. Buyers have overcome the resistance at 134.