Wednesday, January 31, 2018

The correction wave for 2014 levels confirmed ... trading opportunities and targets for 2018

While traders in the currency markets are preoccupied with monitoring the expected levels of currencies and metals within a tight time frame, they do not look at the full picture that began to emerge about a year ago

It is strange that at the same time they do not look at pairs such as EUR / USD and GBP / USD only at the minimum levels achieved by these pairs during 2015 and 2016 and the cheap analysis that predicted that the EUR / USD exchange rate will reach a break point and that gold will fall to three 999 levels


While the clearer picture may give us a completely different view, a quick look at the charts for the period from the beginning of 2013 to 2016 may show that a downward correction wave that has been going on for more than three years seems quite clear, In Europe, the bankruptcy of Greece and some secessionist claims within the European Union

But the year 2017 saw cross-sectional trading as it started to form another correction wave targeting 2013 and 2014 levels

That wave found significant support from several factors:
Donald Trump in the US presidency
End of uncertainty in the EU
The British Brexit that brought the British economy back to the right direction

In Britain, the performance of the British economy has improved despite all the fears everyone has said, Britain seems more vital without the burden of immigrants, and looks less unemployment without the presence of these immigrants

Europe is finally using the German mark, which has turned over time to the Euro. The Euro does not seem to allow other members to emerge. It seems able to contain the problems. It has succeeded in Greece and seems to be successful with countries such as Italy and Spain.

Donald Trump needs a weak dollar to achieve his goals. This weak dollar will affect trading prices in the world. Donald Trump actually needs the levels of 2013 and 2014 and seems to be successfully moving that way solo without support from the US Fed but strongly supported by big companies in the United States of America

Japan does not stop intervening in the markets. Japan does not accept a trading rate of less than 101 yen against the dollar, but the dollar seems to be targeting that region but it will not reach it, so we may see trading within a wide range of 106 to 112 before Japan Yen hit 122 against USD and 142 against EURO

Now trading targets for the current year will be as follows:
AUD USD                  0.92511
EUR USD                   1.39297          
EUR JPY                    147.803
EUR AUD                  1.60000
EUR NZD                  1.78000
GBP AUD                  2.10000
GBP CAD                  2.00000
GBP JPY                    178.502
GBP USD                   1.70000
NZD USD                  0.85000
USD JPY                    121.347
GOLD VS EUR         1161.95
GOLD VS USD         1563.86

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