My forecasts by EURUSD, GBPUSD, USDCHF, USDJPY, GOLD - page 8
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hi
I like those pattern ,it's jackpot pattern
I think to make it clear to see the pattern We can use HL zigzag with parameter set to 1
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Forex Indicators Collection
EUR/USD forecast
H4 graph
The pair is being traded in the "a-a+" half-side half-ascending trend. A trading range 1.2604 - 1.2755 has been formed by numerous resistances from above
and supports from below. I can't say that the pair has an ascending intention right now, because the higher bound of the side daily trend - "B+" trend line -
is crossing the level 1.2770. This trend line will hold up all ascending attempts until it gets broken.
Analyzing the present picture, three variants of events to develop are seen:
1. continuation of trading in the side trend, in 1.2604 - 1.2755.
2. by breaking the lower bound of "a-a+" trend ("a" trend line) the pair heads to the "Z" trend line - level 1.2430 (if the pair drops below 1.2600).
3. by breaking "B+" trend line the pair heads to the level 1.3110 (if the pair rises above 1.2820).
Daily graph
The pair is being traded down the "B-B+" side descending trend, which has a potential to carry the market up to the level 1.2320. I can't tell about a clear
development of any picture unless the pair exits from this trend by breaking its higher bound "B+". If "B+" will get broken and the pair goes above level
1.2840, then reaching of the support at 1.3300 is guaranteed.
EUR/USD
H4 graph
The pair had passed the "R" resistance trend line (level 1.3480) and now it's being traded along an ascending trend with the target of growth to level 1.3750. The support is found at level 1.3455; intermediate resistance is at 1.3570. If the pair goes below level 1.3350, an ascending trend is supposed to be replaced by a descending one
Looks trading signals
Daily graph
An ascending trend having the target of growth to the resistance level 1.3750 had been developed at H4 graph. Upon reaching the stated level, there are 3 scenarios of events to follow:
1. If the pair rises above level 1.3800 (breaks the "Y" trend line), then target 1.4360 will be reached.
2. If the pair bounces off level 1.3750 ("Y" trend line), a "double top" turning figure will be formed having its basis at level 1.3112. Upon the bounce off 1.3750 the following is supposed to happen: "M" trend will get broken, figure's basis level and then the support at 1.3112 will be reached, after that the pair will bounce again and grow to level ~1.3650, then break the "Y" trend line and reach level 1.4360.
3. If after the bounce off 1.3750 and reaching the figure's basis at level 1.3112 the pair goes under this level, it will reach an intermediate support and then the main support at 1.2500 ("U" trend line) - the lower bound of the "triangle" figure from weekly graph
Weekly graph