My Daily Forex Prediction on Major Currencies

james78 · May 4, 2010, 2:06pm

Daily Forex Predictions for May 5, 2010
(update: 1:04am GMT+7)

EUR/USD
It is more likely to go down below 1.30 or may be 1.2950, and after that, it might have potentially to go up to around 1.31.
(Current Price: 1.3015)

GBP/USD
It is more likely to go down to around 1.5070, and after that, it might have potentially to go up to around 1.52.
(Current Price: 1.5164)

Enjoy !

Megaforex · May 4, 2010, 5:58pm

The euro is reaching the 1.2920 level the first support after it breaked the 1.2995 level, today, will see if it continue to reach the next support at 1.2895.

JCBABYPIPS · May 5, 2010, 12:59am

james78:

I would like to give my forex analysis to help fellow trader.

My Analysis is based on the forex strategy of market trending and other analysis formula that I got from my work place (I work in one of the famous forex analysis company in my country)
usually it can reach about 50 to 100 pips profit. Not bad

I will give the analysis straight to the point, means it is simple and also easy to understand, so you can use it as your second opinion before you decide to “Buy or Sell”

I hope my analysis can helpfull to make more profit in trading
and I will try to daily update it. (is it okay ?)

below is some of my analysis for May 4, 2009 that I got it at 2:23am GMT+7
(I know it is too late to post, but at least you can see their performance)

EUR/USD
It is more likely to move up to 1.3300 or even higher than 1.3400, and after that, it will potentially to go down.
(Current Price: 1.3263)

GBP/USD
It more likely to move up to 1.5050. But we suggest to entry buy at 1.4860.
(Current Price: 1.4911)

AUD/USD
We suggest to sell if it reaches near 0.7450 or even 0.7500. Profit Targets set to 50 pips, and stop at 50 pips too.
(Current Price: 0.7300)

USD/JPY
It is more likely to potential sell if it is still holds at 99.80 . With risk to 100.40.
(Current Price: 99.25)

I hope all of you can Enjoy it !

NOTE: use at your own risk

I suggest to use a SL and TP with ratio not more than 2:1.
example: if your TP is 50, your SL should not more than 100, but better if you can set the SL with 50 pips too.

if you need more analysis, don’t hesitate to contact me

James

Hello james,

I want to thank you for your daily predictions.
I am a newbie trading in a demo account. I am still in the learning process.
Hopefull i will do it for real very soon.

Keep up the great work.

Juan

james78 · May 5, 2010, 12:47pm

There are a lot of news today, so it is hard to predict and depends on the news result. But we predict that USD is still in Strong conditions.

EUR/USD
It is more likely to go down to around 1.28 or lower, and after that, it might have potentially to go up to around 1.29.
(Current Price: 1.2871)

GBP/USD
It is more likely to go down to around 1.5060, and after that, it might have potentially to go up to around 1.5180.
(Current Price: 1.5119)

Enjoy !

james78 · May 6, 2010, 8:16pm

Daily Forex Predictions for May 7 , 2010
(update: 7:14am GMT+7)

EUR/USD
It is more likely to go down to around 1.2560 or lower, and after that, it might have potentially to go up to around 1.2650.
(Current Price: 1.2645)

GBP/USD
It is more likely to go down to around 1.48, and after that, it might have potentially to go up to around 1.49.
(Current Price: 1.4902)

NOTE: Beware of Non Farm Payroll news today

Enjoy!

Johnnypipster · May 7, 2010, 6:49am

Thanks James - do you think 1.25 is the bottom?

james78 · May 9, 2010, 3:52pm

Yeah, I think so

but all of this are depends on the next news report

James

james78 · May 9, 2010, 4:14pm

Daily forex predictions for May 10, 2010
(update: 3:09am GMT+7)

EUR/USD
It is more likely to go up to around 1.28 or may be 1.29, and after that, it might have potentially to go down to around 1.27.
(Current Price: 1.2750)

GBP/USD
It is more likely to go down to around 1.47 or lower, and after that, it might have potentially to go up to around 1.49.
(Current Price: 1.4806)

Beware from the UK Interest Rate Statement at 18:00pm GMT+7

James

Kiwi_Candles · May 9, 2010, 5:00pm

so this statement came out a couple of hours ago?
The GBP is up over 70pips from where it closed over the weekend at the moment.

Johnnypipster · May 9, 2010, 7:12pm

probably more right than wrong. On Sunday’s the market tends to open aggressively in one direction then retrace. Not a given but more often than not. Check his E/U forcaste in a couple hours. I bet it is right.!

Thanks James… I think you are a harmonic trader??? I bet you are…

Johnnypipster · May 9, 2010, 7:18pm

I’ve changed my mind for the long term outlook. Still too much turmoil in western Europe. I bet we will see 1.00 on the E/U. Ya, the news will report band-aids but that is what they are. Until they have a real plan the masses are still going to riot. Kaos = sell offs.

Look forward to any feed back on this…?///???

Kiwi_Candles · May 9, 2010, 7:50pm

Yes some people swear by this Gap trading.
If you backtest it you can see where its possible to make an easy 20-30 pips often on some pairs where it closes the Gap.
It seems at least 8/10 to close the gap back to the weekend close levels.

I shorted the GBP as soon as the market opened and rode the short down movement for a $100 in 20 minutes.
Logged off and did my dayjob.

Apologies in advance if we shouldnt be posting in your predictions thread cluttering it up:o

I agree on shorting EUR as well Johnny

mathewbet1 · May 9, 2010, 8:17pm

Going to be volatile this week. GBP against the USD is going to take a battering untill the leadership is sorted. Heavy sell pound v USD.

Eurozone also in turmoil, expect USD to surge against euro also. Good early action potential on both.

Johnnypipster · May 9, 2010, 8:18pm

Exactly Kiwi! and the math on that is unbelievable. Do you know you can double your money in a year just by doing that? Find me a financial planner who can do that? My point is that with us educating ourselves in currencies and using risk management you could retire on a LOT less than analysis suggest. My two cents…

Kiwi_Candles · May 9, 2010, 8:54pm

Im just watching a 55 pip dump in the EUR right now on the 5min chart:cool:

Johnnypipster · May 9, 2010, 10:33pm

hold on partner … there is a lot more to come… I hear ya.

lasereyes · May 9, 2010, 10:48pm

well if your reffering to the continued decline of the euro then it will be most likely delayed by the current retracement that will most likely take the price above 1.31 and as high as 1.35.

james78 · May 10, 2010, 1:39pm

Daily Forex Predictions for May 11, 2010
(update: 00:29am GMT+7)

EUR/USD
It is more likely to go down to around 1.27 or may be 1.2650, and after that, it might have potentially to go up to around 1.28.
(Current Price: 1.28)

GBP/USD
It is more likely to go down to around 1.4730 or lower, and after that, it might have potentially to go up to around 1.48.
(Current Price: 1.4877)

Enjoy !

James

@All : Thanks for your appreciate to my predictions

edewor2009 · May 11, 2010, 5:50am

James78, am new to this forum but i have been following your predictions they have been so accurate, i really appreciate, thanks. But my time zone is GMT +1, i have been trying to know exactly when ou normally release your quotes and which of the markets do you trade? i will appreciate as you tell me, Thanks

edewor2009 · May 11, 2010, 8:54am

James 77, thanks alot for everything that you have been doin, please can you tell me the indicators do ou normally use and what time frame do you use for your trading analysis. what market do ou trade also,