http://forexmillion.com/ ru FOREXMILLION - forex forecast, trading signals DataLife Engine http://forexmillion.com/forex-forecast/gold/471-gold-forecast.html http://forexmillion.com/forex-forecast/gold/471-gold-forecast.html Today chart - Forecast of the week, 07/12–07/16 Rebound from key support level 1187, which was followed by moving above level 1202, speaks about development of an uptrend. This is due to the fact that as the gold rose above level 1202 it broke the neckline of “head and shoulders” figure, which cleared the way towards resistance level 1220. The current trend is technically an uptrend, although it still seems to be sideways as there is no good upside momentum so far. Such good upside momentum will emerge in case the gold rises above levels 1213 and 1220, which will be followed by an uptrend with the upside target seen at resistance level 1232. Otherwise, a downtrend will be started in case the gold retreats under level 1188 (and thus quits the sideways trend), which will be followed by moving down to support level 1169. If the gold keeps on moving down below that level, it will reach level 1114. Forecast monthly, June The market is trading along an uptrend; however signs of trend’s turn are present. That’s why we should not expect the uptrend to continue unless the gold confidently rises above resistance level 1232, which will be followed by moving up to level 1286. Otherwise, if the gold goes under level 1182, a downtrend will be started with the drop target set at support levels 1132–1114.   Forecast for the next quarter, April - June. Weekly graph (dated 05/10/10) The market is trading along the uptrend, namely in its 5th upwave, having the upside target seen at level 1400. A strong resistance is found at level 1280 and it is currently serving as the market’s local target. Upon touching that level, the gold will also need to get over level 1310 in order to make its way to 1400. Support is found at level 1188. In case the market goes below level 1137, downtrend development will come in action with the drop target set to support level 1150 (“K” trendline). If the gold drops further below level 1140, it will get to support 960 (“Z” trendline), which is the market’s drop target level. GOLD Kolganov Anton Wed, 14 Jul 2010 14:45:57 +0300 http://forexmillion.com/forex-forecast/gbp-usd/470-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/470-gbpusd-forecast.html Today chart - Forecast of the week, 07/12–07/16 Last week the pair quit from the uptrend boundaries (black dotted lines; the pair went below level 1.5030), which was supposed to provoke the market to drop to level 1.4600. The pair is currently trading at support level 1.4970. If it goes below level 1.4938, the downside momentum will grow stronger and the drop target will be set at support level 1.4835. Further drop below level 1.4820 will cause the downside momentum to grow even more upon the fact of quitting from another major uptrend (black dotted). And then the market will drop to support level 1.4600. Otherwise, an uptrend will be started in case the pair rises above level 1.5192, which will be followed by moving up to resistance level 1.5610. Forecast monthly, June After getting under level 1.4500 the pair went into the downtrend having the drop target seen at support level 1.4070. This trend remains in effect until the pair rises above level 1.4654. In case the pair rises above level 1.4654, an uptrend will be started having the upside target set at resistance level 1.5100, while intermediate support will be found at level 1.4654.   Quarterly forecast, May – July After touching key support level 1.4260 the pair is trading along the “E-E+” downtrend. That support level may become the endpoint of current downtrend, and even the starting point of an uptrend if the market rises above level 1.5450. Upon rising above level 1.5450, an uptrend will be developed with the upside target set at key resistance level 1.6900, from where a correction to support 1.5450 will be possible. Next, if the pair goes on above resistance 1.6900, the upside momentum will go stronger and the pair will head to resistance level 1.8530. Otherwise, if level 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, the downtrend will be resumed and the pair will get to support level 1.3230.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Wed, 14 Jul 2010 14:45:00 +0300 http://forexmillion.com/forex-forecast/eur-usd/469-eurusd-forecast.html http://forexmillion.com/forex-forecast/eur-usd/469-eurusd-forecast.html Today chart - Forecast of the week, 07/12–07/16 The pair is trading along an uptrend, bur all of the signs of potential turn are present. The most critical point is at rebound from key resistance level 1.2720, where the neckline of “head and shoulders” figure from monthly graph passes. In case the pair goes down after that and moves further below level 1.2540, a downtrend will be started with the drop target set at support level 1.2400. Next there will be two variants of events to develop: 1. If the pair keeps on moving down below level 1.2315, the downside momentum will grow stronger and the pair will reach support level 1.2010. 2. If the pair rebounds from level 1.2400 and moves up above level 1.2565, an uptrend will be started with the upside target set at level 1.3150. Otherwise, if the pair won’t manage to go from current levels to area below level 1.2540 and will rise above resistance level 1.2720, an uptrend will be started with the upside target set at level 1.3150. Forecast monthly, June The pair is trading along the downtrend having the drop target set at level 1.1000. If it goes under level 1.1645, the downside momentum will grow stronger. An uptrend will be started in case the pair rises above level 1.2400, which will be followed by moving up to resistance level 1.2720. If the pair keeps on rising above that level, it will reach level 1.3450.   Quarterly forecast, May – July The pair dropped below level 1.2700, where the neckline of a “head and shoulders” trend-turning figure resided. That caused the downside momentum to grow stronger. The drop target is currently seen at level 1.1655. If the market goes below that level, it will reach level 1.000. An uptrend may be started upon the pair’s rising above level 1.3100. Then the market will go up to resistance level 1.4630 (“Q” trendline).   Yearly forecast, 2010 – 2011. The pair dropped below level 1.2700, where the neckline of a “head and shoulders” trend-turning figure resided. That caused the downside momentum to grow stronger. The drop target is currently seen around 0.9890 – 1.0200. Current downtrend is in effect until the pair rises above 1.3100. Intermediate resistances are currently seen at levels 1.1655 and 1.000. The figure will be cancelled and an uptrend will be started in case the pair rises above 1.3100. Then the upside target will be set at resistance level 1.4630.   EUR/USD Kolganov Anton Wed, 14 Jul 2010 14:42:16 +0300 http://forexmillion.com/forex-forecast/gold/468-gold-forecast.html http://forexmillion.com/forex-forecast/gold/468-gold-forecast.html Today chart - Forecast of the week, 07/05–07/09 The gold is trading along a downtrend in the form of 5-waved Elliot model. Current location is at the 4th correctional wave. Current downtrend may be expected in case the market drops below level 1203, which will be followed by reaching the 5th wave’s target and also getting to support at level 1177 / 1169. In case the market rises above level 1216 we may speak about extension of development of the 4th correctional wave. In such case the gold may rise up to resistance level 1237. However, if it successfully gets above that level we may speak about cancellation of the downtrend and beginning of an uptrend with the upside target set at resistance 1258. If the gold will keep on rising above that level, it will reach resistance 1289. Forecast monthly, June The market is trading along an uptrend; however signs of trend’s turn are present. That’s why we should not expect the uptrend to continue unless the gold confidently rises above resistance level 1232, which will be followed by moving up to level 1286. Otherwise, if the gold goes under level 1182, a downtrend will be started with the drop target set at support levels 1132–1114.   Forecast for the next quarter, April - June. Weekly graph (dated 05/10/10) The market is trading along the uptrend, namely in its 5th upwave, having the upside target seen at level 1400. A strong resistance is found at level 1280 and it is currently serving as the market’s local target. Upon touching that level, the gold will also need to get over level 1310 in order to make its way to 1400. Support is found at level 1188. In case the market goes below level 1137, downtrend development will come in action with the drop target set to support level 1150 (“K” trendline). If the gold drops further below level 1140, it will get to support 960 (“Z” trendline), which is the market’s drop target level. GOLD Kolganov Anton Tue, 06 Jul 2010 14:49:50 +0300 http://forexmillion.com/forex-forecast/gbp-usd/467-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/467-gbpusd-forecast.html Today chart - Forecast of the week, 07/05–07/09 The pair is trading along an uptrend. Level 1.5125 is a strong support, and so we may expect a strong rebound from that level with consecutive development of an uptrend. Further uptrend will be confirmed in case the pair rises above resistance level 1.5200. This will be followed by moving up to resistance 1.5340, and if the pair goes on rising above, it will then reach resistance 1.5500. A downtrend will be started in case the market drops below level 1.4960, which will be followed by mowing down to support level 1.4770. If the pair will keep moving down below that level, it will get to level 1.4360. Forecast monthly, June After getting under level 1.4500 the pair went into the downtrend having the drop target seen at support level 1.4070. This trend remains in effect until the pair rises above level 1.4654. In case the pair rises above level 1.4654, an uptrend will be started having the upside target set at resistance level 1.5100, while intermediate support will be found at level 1.4654.   Quarterly forecast, May – July After touching key support level 1.4260 the pair is trading along the “E-E+” downtrend. That support level may become the endpoint of current downtrend, and even the starting point of an uptrend if the market rises above level 1.5450. Upon rising above level 1.5450, an uptrend will be developed with the upside target set at key resistance level 1.6900, from where a correction to support 1.5450 will be possible. Next, if the pair goes on above resistance 1.6900, the upside momentum will go stronger and the pair will head to resistance level 1.8530. Otherwise, if level 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, the downtrend will be resumed and the pair will get to support level 1.3230.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Tue, 06 Jul 2010 14:48:38 +0300 http://forexmillion.com/forex-forecast/eur-usd/466-eurusd-forecast.html http://forexmillion.com/forex-forecast/eur-usd/466-eurusd-forecast.html Today chart - Forecast of the week, 07/05–07/09 The pair is trading along the uptrend having the upside target set at level 1.2730 (the neckline of “head and shoulders” figure at monthly graph). Current level 1.2530 belongs to the red weekly downtrend’s higher bound, and now the pair is striving to rise above it. In case the market gets over level 1.2580, the upside momentum will grow stronger and the pair will reach level 1.3150. However if it fails rising above 1.2730, the pair will have a good chance to develop a correction towards support level 1.2350. The downtrend will be started in case the pair retreats below level 1.2505, which will be followed by moving down to support 1.2290. After reaching that level there will be two variants of events to proceed. The first and the basic variant is further downside, yet we can’t exclude the alternative variant: 1. In case the pair goes under 1.2290 and then under 1.2200, downside momentum will grow stronger and the drop target will be seen at level 1.1930. 2. In case the pair rebounds from 1.2290 and consequently rises above level 1.2460, an uptrend will be started with the upside target set at 1.2730. Forecast monthly, June The pair is trading along the downtrend having the drop target set at level 1.1000. If it goes under level 1.1645, the downside momentum will grow stronger. An uptrend will be started in case the pair rises above level 1.2400, which will be followed by moving up to resistance level 1.2720. If the pair keeps on rising above that level, it will reach level 1.3450.   Quarterly forecast, May – July The pair dropped below level 1.2700, where the neckline of a “head and shoulders” trend-turning figure resided. That caused the downside momentum to grow stronger. The drop target is currently seen at level 1.1655. If the market goes below that level, it will reach level 1.000. An uptrend may be started upon the pair’s rising above level 1.3100. Then the market will go up to resistance level 1.4630 (“Q” trendline).   Yearly forecast, 2010 – 2011. The pair dropped below level 1.2700, where the neckline of a “head and shoulders” trend-turning figure resided. That caused the downside momentum to grow stronger. The drop target is currently seen around 0.9890 – 1.0200. Current downtrend is in effect until the pair rises above 1.3100. Intermediate resistances are currently seen at levels 1.1655 and 1.000. The figure will be cancelled and an uptrend will be started in case the pair rises above 1.3100. Then the upside target will be set at resistance level 1.4630.   EUR/USD Kolganov Anton Tue, 06 Jul 2010 14:47:05 +0300 http://forexmillion.com/forex-forecast/gold/465-gold-forecast.html http://forexmillion.com/forex-forecast/gold/465-gold-forecast.html Today chart Forecast of the week, 06/21–06/25 The market has been trading along the uptrend for a rather long time now. And after it got over level 1255, the upside intention grew stronger. The gold’s current target is set at resistance level 1288 (see forecast monthly). A downtrend may be started in case the gold retreats below key support level 1255, followed by drop to intermediate support 1231 and then to major support 1220 (the “F-F+” uptrend’s lower bound). Forecast monthly, June The market is trading along an uptrend; however signs of trend’s turn are present. That’s why we should not expect the uptrend to continue unless the gold confidently rises above resistance level 1232, which will be followed by moving up to level 1286. Otherwise, if the gold goes under level 1182, a downtrend will be started with the drop target set at support levels 1132–1114.   Forecast for the next quarter, April - June. Weekly graph (dated 05/10/10) The market is trading along the uptrend, namely in its 5th upwave, having the upside target seen at level 1400. A strong resistance is found at level 1280 and it is currently serving as the market’s local target. Upon touching that level, the gold will also need to get over level 1310 in order to make its way to 1400. Support is found at level 1188. In case the market goes below level 1137, downtrend development will come in action with the drop target set to support level 1150 (“K” trendline). If the gold drops further below level 1140, it will get to support 960 (“Z” trendline), which is the market’s drop target level. GOLD Kolganov Anton Wed, 23 Jun 2010 13:04:20 +0300 http://forexmillion.com/forex-forecast/gbp-usd/464-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/464-gbpusd-forecast.html Today chart Forecast of the week, 06/21–06/25 The pair is still trading along an uptrend having the upside target seen at resistance levels 1.5000/1.5065. The market has reached resistance 1.4926 by now, and relative support is found at level 1.4832. If the pair goes on rising above 1.4926, the upside momentum will grow stronger. Otherwise, we should expect a downtrend to develop in case the pair goes below support level 1.4804, followed by further drop to support 1.4510. After that the pair will find an intermediate support at level 1.4698. Forecast monthly, June After getting under level 1.4500 the pair went into the downtrend having the drop target seen at support level 1.4070. This trend remains in effect until the pair rises above level 1.4654. In case the pair rises above level 1.4654, an uptrend will be started having the upside target set at resistance level 1.5100, while intermediate support will be found at level 1.4654.   Quarterly forecast, May – July After touching key support level 1.4260 the pair is trading along the “E-E+” downtrend. That support level may become the endpoint of current downtrend, and even the starting point of an uptrend if the market rises above level 1.5450. Upon rising above level 1.5450, an uptrend will be developed with the upside target set at key resistance level 1.6900, from where a correction to support 1.5450 will be possible. Next, if the pair goes on above resistance 1.6900, the upside momentum will go stronger and the pair will head to resistance level 1.8530. Otherwise, if level 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, the downtrend will be resumed and the pair will get to support level 1.3230.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Wed, 23 Jun 2010 13:02:25 +0300 http://forexmillion.com/forex-forecast/eur-usd/463-eurusd-forecast.html http://forexmillion.com/forex-forecast/eur-usd/463-eurusd-forecast.html Today chart Forecast of the week, 06/21–06/25 After rising above level 1.2323 (over the higher boundary of B-B+ downtrend) the pair is now trading along an uptrend having the upside target seen at resistance level 1.2700, and intermediate resistance at level 1.2579. Current trend/forecast remains in effect until the market goes under support level 1.2323. In case the pair goes below level 1.2323, a new downtrend will start to develop with the drop target set at support level 1.2112. Forecast monthly, June The pair is trading along the downtrend having the drop target set at level 1.1000. If it goes under level 1.1645, the downside momentum will grow stronger. An uptrend will be started in case the pair rises above level 1.2400, which will be followed by moving up to resistance level 1.2720. If the pair keeps on rising above that level, it will reach level 1.3450.   Quarterly forecast, May – July The pair dropped below level 1.2700, where the neckline of a “head and shoulders” trend-turning figure resided. That caused the downside momentum to grow stronger. The drop target is currently seen at level 1.1655. If the market goes below that level, it will reach level 1.000. An uptrend may be started upon the pair’s rising above level 1.3100. Then the market will go up to resistance level 1.4630 (“Q” trendline).   Yearly forecast, 2010 – 2011. The pair dropped below level 1.2700, where the neckline of a “head and shoulders” trend-turning figure resided. That caused the downside momentum to grow stronger. The drop target is currently seen around 0.9890 – 1.0200. Current downtrend is in effect until the pair rises above 1.3100. Intermediate resistances are currently seen at levels 1.1655 and 1.000. The figure will be cancelled and an uptrend will be started in case the pair rises above 1.3100. Then the upside target will be set at resistance level 1.4630.   EUR/USD Kolganov Anton Wed, 23 Jun 2010 13:00:14 +0300 http://forexmillion.com/forex-forecast/gold/462-gold-forecast.html http://forexmillion.com/forex-forecast/gold/462-gold-forecast.html Today chart Forecast of the week, 06/07 – 06/11 The market is trading along sideways trend and the market direction is unclear until a certain level is broken. In case the gold rises above level 1214, it will start ascending to the target resistance level 1233. In case it goes below level 1204, a downtrend will be started with the drop target set at support level 1192. If the gold keeps moving down below that level (namely, level 1182 and down), the downtrend will be continued and the drop target will be seen at level 1168. Resistance level 1233 is the market’s key resistance. Thus, if the gold rebounds from it and then moves down below level 1218, a downtrend will be started with the drop target set at level 1168. However, if the gold manages to rise above key resistance level, an uptrend will be started with the upside target set at level 1286. Forecast monthly, June The market is trading along an uptrend; however signs of trend’s turn are present. That’s why we should not expect the uptrend to continue unless the gold confidently rises above resistance level 1232, which will be followed by moving up to level 1286. Otherwise, if the gold goes under level 1182, a downtrend will be started with the drop target set at support levels 1132–1114.   Forecast for the next quarter, April - June. Weekly graph (dated 05/10/10) The market is trading along the uptrend, namely in its 5th upwave, having the upside target seen at level 1400. A strong resistance is found at level 1280 and it is currently serving as the market’s local target. Upon touching that level, the gold will also need to get over level 1310 in order to make its way to 1400. Support is found at level 1188. In case the market goes below level 1137, downtrend development will come in action with the drop target set to support level 1150 (“K” trendline). If the gold drops further below level 1140, it will get to support 960 (“Z” trendline), which is the market’s drop target level. GOLD Kolganov Anton Thu, 10 Jun 2010 10:10:48 +0300