[Basic Edition] Monthly Currencies Analysis – June 2018

This is a new monthly ezine that will be published every month. Its purpose is the give an overview of what we expect to happen during the month and beyond. It is NOT meant to give detailed in-depth trade SHORT TERM trade recommendations as in the SHORT TERM, market fluctuations must be updated on a daily basis if not hourly in order to capture SHORT TERM profits. That is not the intention of the analysis contained in this ezine. The aim is to provide you with a higher level overview of the possible market direction so that you can stay on the RIGHT SIDE of the trend….if there is one! As you know, the “TREND IS YOUR FRIEND” and you don’t want to be on the WRONG SIDE of a trend! Trade with the trend is the easiest, most pain-free way to trade! By being able to see things from the “top-down”, you are much better able to drill down to the shorter terms and look for trading opportunities GOING WITH THE OVERALL trend!

Of course, most all markets spend much more time in corrections than they do trending. Usually about 80% of the time is spent correcting! But there are trends within corrections as well! And using the analysis in this ezine, you can spot better trading opportunities available to you during the month!

Want the FULL Analysis on all these markets updated TWICE Daily? Markets are fluid and change all the time. The analysis you see here is based on current information. But we all know that things can change. Keep up with the latest changes and get the latest information, charts and trade recommendations! Subscribe for 50% off your first month!

USDJPY

Should See Another Mixed Bag But Should See Higher Prices This Month

Outlook: SHORT TERM BULLISH

Updated Weekly/Monthly Chart

There is a lot of bear/bull PA going on right now in between the 2 MAJOR TL’s and also that support zone. As bears and bulls fight it out, we are going to see swinging bars. The past 2 weeks say prices swing back down. And last week, we saw prices drop again to challenge that support zone just to be rejected again. What does this mean? It simply means that prices do not yet have enough momentum to break that support zone. The weekly bar from last week though does indicate that this week, we may see prices creep back up towards that red down trend MAJOR TL.

The action this month will take place mostly on the Daily and Hourly time frames as we see prices moving back and forth as it makes its way up to the MAJOR (red) TL. I’ll be looking for spiking action. Profits can be made in the short term but should not be looking for any extended impulsive waves unless looking in the hourly’s. Follow my Daily and Hourly charts as I update them everyday and twice a day for the Hourly charts for good profit opportunities.

 

AUDUSD

Could It Have Now Begun The Next Great Move?

Outlook: Bullish

This seems pretty obvious what SHOULD happen but then just when things seem SO OBVIOUS, many times, it just does the opposite! But in this case, you have to go with the obvious! What you see in my charts below is that prices are sitting on a lower tl of a rising channel. BUT what you MUST understand is that the lower tl is NOT SET! Is it technically correct to draw the tl as I have it now? Yes, It is. But without further PA to confirm that tl, we can’t be too confident about the way that tl is drawn yet. But nonetheless, the tl is there and on the monthly chart, you see we do have a bullish hammer that stands out and the low of the hammer is now the second anchor point for that lower tl.

 

Updated Weekly/Monthly Charts

 

Closeup on the Bullish Hammer

 

USDCAD

Outlook: Bearish

Clear Sailing Ahead. Still? But NOT The Way You Might Think!

If you look back at the May Monthly Currency Report, if you were paying attention, then you know that I was looking at this as heading higher in what could be a POTENTIAL Bat. Well, after some further re-analysis and looking at last month’s price action, I have reversed my outlook and now see this as BEARISH. Prices at this time are sitting right on the red MAJOR TL and also are retesting a former support zone that now is serving as resistance. Rejection by both the MAJOR TL and that resistance zone will send prices tumbling.

Updated Weekly/Monthly Chart

 

GBPUSD

Outlook: Unknown

Two Straight Months Of Declines. Will There Be A Third?

Prices have dropped powerfully in the past 2 months without first reaching the MAJOR TL (blue) as I had been projecting it would. What this means is that the MAJOR TL is still in play but not right now. Its influence is still there but not as strong as it was before and will become relevant again later. Maybe much later. For now, the drop in prices the last 2 months has brought it back down to where it is now retesting the broken red TL for the former downtrend. The drop in prices also broke the minor tl that defined the former uptrend. So given all this, I expect that this month we’re gonna see prices retrace back up by bouncing off that former downtrend tl and then retesting the minor uptrend tl before dropping yet again. Wave count-wise, All this movement should all be part of the current wave (2) or X wave.

 

EURUSD

Outlook: Bearish

Big Drop Last 2 Months Was Just A Preview Of Things To Come

In the past couple of months, EURUSD dropped significantly. Or so it seems that way. But if you know the character of EURUSD, then you know that when it starts to move in one direction, it tends to stay moving in that direction for awhile. And that direction right now is pretty clear. If the past is any indication, this current drop is just the beginning of a a MUCH, MUCH deeper drop.

 

USDCHF

Outlook: Unknown

Missed Out On The Recent SHARP Explosion Up? PART II: Be PATIENT And You’ll Get Another Chance!

Last month, I said you needed to be PATIENT if you want to catch the next BIG move up if you already missed that first one. Well, last month we saw USDCHF start to make a pullback of the big move up. I will say the same thing this month in that we still need to be PATIENT in order to catch the next move up. This month, we should probably still see more pullback before this reverses and start another big move higher.

 

NZDUSD

Outlook: Bullish

A Powerful Impulse Wave Is About To Come Cashing In!

Again, its looks so very obvious here that what is about to happen is an explosion upwards…..BUT, as always, the obvious is what gets most traders in deep trouble! Yes, it is a very good bet that this is heading higher in this month and probably in the coming months as well. However, there is still the MAJOR TL that is there and prices has not dropped to it….yet. I’m not saying it will but we still must be aware that its still a possibility. That being said, the risk you would need to take in taking the BUY side on this is very minimal.

What you just read was my high level overview of what I thing is about to happen in these markets. Following these analysis can get you in the right side of the markets BUT if you want to grab the pips and make the profits, you need to know the where and when. Get the FULL Analysis on all these markets updated TWICE Daily? Markets are fluid and change all the time. The analysis you see here is based on current information. But we all know that things can change. Keep up with the latest changes and get the latest information, charts and trade recommendations! Subscribe for 50% off your first month!

 

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