Forecasts Price Movement of Seven Major Currencies
Traders can use the forecast directional bias as the expected market trend for the day. The bias often highlights the potential target for the day and, if that breaks, the next target level. Medium term traders can use the bias to assist them in understanding how the daily picture fits into the larger trend.
An overall General Outlook page provides a broad view of current forex market movements and how these should progress. It enables traders to understand what the author considers to be the vital elements to watch for, clues to identify movements that could trigger larger moves.
Provides Daily Bullish & Bearish Scenarios
Explains in full the expected daily move with important price levels that should be monitored as price targets or break levels. Medium term analysis places the daily comments in the context of the anticipated direction for the coming days.
Since currency prices can and do move in unexpected ways, both a bullish and bearish scenario are included. That way, guidance is provided on what to do when the market does not perform as expected. If the daily bias proves incorrect then traders can switch to the alternative view in order to understand how the likely price movement from that point on.
Key S/R Levels using Fibonacci & Elliott Wave
Highlights six key support and six key resistance levels for use during the day. Green highlights levels from which price may experience a more significant reaction or correction. Support and resistance levels can assist traders in identifying trading entry and exit points.
Pro Commentary support & resistance levels should be used in conjunction with Pro Charts live trading indicators. A correlation of indicator movements at these price levels can provide trade decision support.
Cycle Analysis for Market Direction
Momentum Analysis to confirm Market Moves
Cycle and momentum information is listed next to the analysis comments. Cycle analysis helps forecast the timing of potential market reversals. Momentum indicates the strength and acceleration of price moves.
The daily, weekly and monthly cycles and momentum sections anticipate when a cycle high or low will be reached. Provides traders with a greater understanding of how long directional movements may last.
Uses Proprietary FX-Strategy Indicators
An hourly chart displays the recent movement along with FX-Strategy proprietary indicators. The FXS Pivot Cloud shows a dynamic approximation of market equilibrium and which can display broad support and resistance. The FXS Trailing Stop indicators the direction and strength of the trend. The Schaff Trend Cycle and FXS RSI show proprietary indications of momentum. When the indicators provide supporting information for the analysis this will be referred to in the commentary text.
Elliott Wave Chart shows Wave Count & Alternative
An eight-hour chart shows the favored Wave count and alternative.The expected move is drawn in green; the next favored forecast is drawn in blue.
Price develops in a recognizable sequence of waves. Elliott Wave organizes these sequences by labeling them with numbers and letters in a type of code. Understanding this code gives information on how price is expected to develop next.
Daily Elliott Wave Comment
Next to the Elliott Wave Chart is a description of how the author has organized the waves and what Fibonacci or harmonic ratio has been used. The targets and retracements correspond with the daily and medium term bullish and bearish analysis.
The Elliott Wave Comment area can provide traders with early recognition of price trend and when they may be breaking down. Describes the wave count and structure with calculations of retreacement and projections. May also provide levels which, if broken, would cause the count to be invalid and the expected impact on price.