EURUSD: Potentially making a temporary low in here before likely heading down to the 162% extension target are of 1.2815, after a very nice profitable short trade from 1.3192.

ACTION: Look to continue to sell rallies on intraday charts as long as the 60-240 minute trends are down. Expect a 2-3 day corrective rally before going lower, but since the larger trends are still heading down, it's best for most traders to wait any rally out and sell it as the price is cresting. Here's the chart with the analysis:

EURCHF: This pair is tightly wound up and getting ready for a breakout. Here are some potential trading opportunities:

Trade 1: BUY 1.20165 stop to open, use 1.2075 stop. Look for 30-90 pips profit

Trade 2: SELL 1.2053 stop to open, use 1.2023 stop. Look for 30-60 pips profit

See the daily chart of Euro-Swiss below:

EURJPY: Is oversold and on the Andrews Median Line, suggesting that a low is eminent, and that a nice pop up should begin between now and Tuesday. Yes, its possible to have one more low first, but the EURUSD is also looking like it's making a temporary low in here.

ACTION: Look to buy dips on intra-day charts once the 15-240 minute trends turn up. The chart is provided below:

AUDCHF: The weakest Aussie match up is the Aussie-Swiss Franc. Our trading system is already short. Considering aggressively selling intraday rallies in this pair down to our price target of .9160, as long as the 1-hour and 240-minute trends are heading lower. See the chart below with the analysis.

EURUSD: Expect a breakout within 24 hours followed by a 2-3 day thrust on the Euro. Here are two trade recommendations with multiple price targets, followed by the Euro price chart with the forecast:

TRADE 1:  BUY 1.3260 stop to open, use 1.3190 stop loss, move stop to break-even point at a price of 1.3323.

Target 1 = 1.3380

Target 2 = 1.3580

TRADE 2:  SELL 1.3192 stop to open, use 1.3250 stop loss, move stop to break-even at 1.3114.

Target 1= 1.3010

Target 2 = 1.2960

USDCHF: Dollar Swiss is in a very tight compression pattern (one of my favorites). Thus, we trade both upper and lower breakouts, with the upper breakout being slightly more risky. Consequently, consider these trade setups on this pair:

TRADE 1:  BUY at .9110 stop to open, use .9055 stop loss, move stop to break-even point at .9126.

Target 1 = .9187

Target 2 = .9245

TRADE 2:  SELL at .9060 stop to open, use .9110 stop loss, move stop to break even at .9009.

Target 1 = .8836

Target 2 = .8615

See the USDCHF chart below:

Analysis of Other Markets

DJI (Dow Industrials): LONG, hit our 1/3 profit target, stop is at break even now.

Crude Oil and Gold are both wound up fairly tightly on the weekly charts, and as such, should have nice breakouts this week, or at the latest next week. As a result, be watching these  markets as well. With global economies rolling over to the downside, it's hard to imagine a major rally, but, we always must be prepared for the less than obvious, just in case. However, the sell side looks a bit juicier for now…

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TRADE Recommendation: Buy 1.0366 limit, use 1.0244 stop loss, move stop to break even at 1.0424, Target 1 = 1.0580, Target 2= 1.0660.

See the daily Aussie-Dollar chart below with the forecast.

USDCAD: Canada finally broke below the range that I had been recommending to fade for weeks, and working. Look to sell intraday rallies in Dollar-Cad until .9680 target is reached, as long as the 60-240 minute trends are down. Also expect a wave 4 corrective rally as dictated by my wave counts and the automated forecast (see chart below). 

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Currency Market Analysis

AUDJPY: System is short and alread at the Andrews Median Line lower support fork. Sell rallies on intra-day charts unless 84.75 is exceeded, at which time you would likely want to be long or at least be buying the dips on Aussie-Yen.

AUDNZD: After a tremendous short trade on Aussie-Kiwi based on prior forecasts, we were looking for a more significant rally to the 1.2650 price area (h=1.2720). For now, look to continue to sell rallies until 1.2430 area is reached. See the AUDNZD analysis on the daily chart below:

Trade Recommendation: Sell at 1.2665 stop to open, use 1.2708 stop loss, move stop to breakeven at 1.2617 target 1.2430 or greater.

AUDUSD: Aussie-Dollar is consolidating on the weekly basis (see weekly AUDUSD forecast chart below) , and likely to go lower on daily charts. Use the two-week high and low as breakout points for longer-term buy and sell points and to help determine the trend for the next two weeks. This should be a real mover once the breakout occurs.

EURAUD: The low we were looking for on Euro-Aussie occurred.

Trade Recommendation: LONG @ 1.2755, use 1.2675 stop loss, move stop to breakeven point at 1.28, target 1.29 or grater. BUY DIPS on intraday charts, as long as 60-minute trend is up. See the daily chart with the currency analysis below:

EURGBP: Daily/weekly trends on popular Euro-Pound cross are down, but getting oversold so expect a 1 to 3 day rally soon. However, continue to sell raliies as long as 60 minute trend is down. Downside target still .8100. Weekly forecast chart on EURGBP is below.

EURUSD: Euro may have had a 5th wave low followed by and ABC corrective rally that may have been completed on Friday, but with the outside chance of a move up to 1.3280 first. 

Trade Recommendation: SELL Euro at 1.3128 stop to open, use 1.3180 stop loss, move stop to breakeven at 1.3081, target 1.3056.

EURJPY: Bounce towards 107.50 to 108 (108.001) occurred, so short-term Forex traders should be short and continuing to sell rallies on Euro-Yen unless 107.83 is exceeded. EURJPY analysis on daily chart below.

USDCAD: Continues to be in channel or wedge formation as stated previously. Continue to SCALP Dollar-Cad within formation until a breakout above or below trendlines occurs.

USDCHF: Trends on the dailies are still down but we also have a potential buy if Friday's high is exceeded on Dollar-Swiss. Prefer to trade the Aussie crosses for more direction until perhaps Tuesday.

USDJPY: Low that we were looking for to buy dips occurred on Dollar-Yen. Now, system is short again. Action: sell rallies until .8100 is reached, for a possible support area. See the Yen forecast chart below.

Other Market Forecasts

GOLD-XAUUSD: Looks like Gold  may also roll over to the down side after being in an narrow range for 4 weeks.

Trade Recommendation: SELL at 1621.65 stop to open, use 1654 stop loss, move stop to breakeven if price reaches 1592. Target 1421.

S&P500 Stock Index: topping action that was expected in ND (NASDAQ), SP and DJI (Dow Jones Industrials) occurred and a nice sell off that was expected unfolded, with what looks likely only an ABC corrective rally as drawn out on previous charts. Continue to short rallies for now. Monday should be lower, so looked to get short on any index rallies, as long as 60-minute trends remain down.

Trade Recommendation: SELL at 12837 stop to open, use 12960 stop loss, move stop to 12900 if 12790 is reached, target 12050 or greater.

Cycles suggest that we could see some fireworks lower into May 20th to possibly June 15th. Stay tuned. See daily Dow analysis below:

Crude Oil: Look to sell rallies as long as 60-minute trend is down unless 104.30 is broken on the upside.

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USDCHF: Trends on the daily charts of the US Dollar-Swiss Franc currency pair are down, but we also have a potential wedge breakout trade to the upside to consider:

TRADE 1 BREAKOUT Up = Buy USDCHF at .9230 stop to open, use .9140 stop loss, move stop to break even once price goes up to .9260, price target 1 = .9295, price target 2= .9420.

TRADE 2 SELL RETRACEMENT RALLY = Sell USDCHF at .9140 stop to open, use a stop loss of .92, move the stop to break even when the price drops to .9110, price target 1 = .9050,  price target 2 = .82.

See the daily and weekly chart analysis for Dollar-Swiss below:

Stock Market Analysis

S&P500: The US stock market index fell perfectly as suggested and guided by both the manual and computer generated forecasts, Andrews lines and trend channels. Look for a 1-2 day bounce, then a 5 wave low to complete wave (1) down, followed then by a 8-13 day rally, before a potential larger move to the downside. Larger wave count on the stock indexes still unclear, with the possibility of a small market crash into mid may. However, the wave patterns off the October 2011 lows still hold the possibility of one more high before a crash unfolds. We will keep you posted.

So look for small bounce, one more low, then a bit bigger rally before a bigger move down is likely, or the one additional rally high, then a crash. See the daily S&P chart below for forecast and visual clues.

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Currency Market Analysis

AUDJPY: TOPPED as called for in prior market forecasts and headed down hard after the wave 5 top of the recent rally, likely a larger wave (3) crest. Look for buying opportunities between 83.75 and 82.50. Short-term Forex traders trade on the short side until 15-60 minute trends turn up. See the weekly and daily charts below with the analysis.

AUDNZD: Super short trade on the Aussie-Kiwi currency pair continues working out…Move stops to 1.2600. Look to continue to sell rallies until 1.2530 price target area, THEN, once 60 minute trends turn up, consider buying short-term pullbacks until 1.2600 to 1.2650 is hit, where I would then expect wave 5 lower to begin. We have provided the AUDNZD forecast below:

EURAUD: Possible low for now on Euro-Aussie. Looking for a breakout move, perhaps to the upside. See the EURAUD daily and 4-hour MT4 charts below with the analysis:

TRADE Recommendation: Buy 1.2755 stop to open, use 1.2675 stop loss, move stop to break even at 1.28, target 1.29 or greater.

EURCHF: The breakout lower from the long, sideways consolidation movement has occurred as suggested. Daily trends are down, so look to sell rallies as long as 60-minute trend is down. If short, keep a fairly tight stop based on 240 minute or daily charts until we get a bounce and further follow through to the downside to confirm the downside breakout. Careful with this one…See the forecast charts below (weekly and daily) generated from the MetaTrader 4 platform.

EURGBP: A breakout lower from a weekly triangle consolidation has occurred on Euro-British Pound. Daily trends are down, so look to sell raliies as long as 60-minute trend is down. Downside target is .8100.

EURUSD: Breakout lower from sideways consolidation pattern has occurred as suggested for the Euro. Daily trends are now down, so look to sell raliies as long as 60 minute trend is down. However, if a price of 1.3168 is exceeded, then a larger rally will likely unfold. See the weekly and daily Euro analysis below:

TRADE Recommendation, (daily charts): Buy 1.3168 stop to open, use 1.3035 stop loss, move stop to break even at 1.3230 target 1.33 or greater.

EURJPY: TOPPED as prior market analysis predicted and headed down hard after the wave 5 top, hitting the computer forecast target on the downside. Sell rallies after a bounce towards 107.50 to 108. Short-term FX traders can look to catch a dead cat bounce once 15-60 minute trends turn up; otherwise wait for bigger sell opportunities after a brief rally in this pair. Euro-Yen analysis on a daily MT4 chart is provided below:

NZDUSD: Stopped out with .20 to .25 profits on Kiwi-Dollar.

USDCAD: Is in a channel or wedge formation. Forex scalpers look to trade within this formation until a breakout above or below trendlines occurs.

USDJPY: Topped then sold off as expected in the analysis over the past two weeks. Look to buy dips once 81 to 80.00 low area is reached, but wait for 60-minute trends to turn up once in bounce area of 81. to 80. After a a potenial bounce, computer Forex forecasts suggest further downside to 78 to 77.75 is possible.

Market Analysis – Stocks and Oil

SP500 Stock Index: Topping action that was expected in ND (NASDAQ), SP (S&P500) and DJI (Dow) markets occurred and a nice sell off that was expected is unfolding. Continue to short rallies for now…Cycles suggest that we could see some fireworks lower into mid May or so. Stay tuned.

OIL: Crude oil traders who shorted oil at 105, should have moved stops to 104.30 to lock .70 profit. Still could see 99.00 on downside. Look to sell rallies as long as 60-minute trend is down and until 99 is reached.

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EURJPY: Likely topping on daily and weekly charts after a 5 wave advance.

We should now look for an ABC pullback of 38-62% of the bull move up. Look to sell rallies if the 15 to 240 minute trends are heading down. See the weekly forecast chart for the Euro-Yen below:

The chart below provides the daily analysis on the currency pair.

DJI (DOW): At least for now, the US stock indexes are confirming their tops. Sell rallies!

If stocks go down, so too may oil, gold, silver, etc, since they have all been running correlated for a long time now.

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AUDNZD: Super short trade on the Aussie-Kiwi currency pair continues working out… 

Move stop down to 1.2635 to lock in 160 pips, target still around 1.2530, but may have a bigger rally soon, so instead, get out and resell if rally takes us out.

NZDUSD: Long from .82, move stops up to .8225 on at least 50% of position on NZDUSD to lock in profits. Move stop on remaining position to .8210 with upper price target still .8280.

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AUDCAD: Bottoming action in the Aussie-CAD currency pair that was expected has occurred. Those that bought early dip from short-term change in trend to the upside have likely been handsomely rewarded. Look to continue to buy dips as long as the 15-60 minute trends (or higher) are heading up.

Again, expect an initial pop up (in progress), then a pullback (pending within 48-72 hours), then a more serious rally, as suggested by the computer generated forecasts.

AUDJPY: FX Analysis of weekly chart pattern still suggests a top between the recent high at .88 to the the upper trend-line in RED at .91 area (see previous forecast). Ideally it would pull back a bit first to the purple automated midline, then rally once again. Until we know for sure, daily trend in AUDJPY is down, looking for a possible low around .83. For now, it is a toss-up as to whether it will rally first, then head down, or bounce just a bit, not make a new high, then pullback to the .8360 price area before any potential for a highter top is realized.

AUDNZD: Super short trade continues working out on this pair…Look to continue to sell rallies. The expected pop rally occurred and was an outside day reversal lower. Now, expect a slightly bigger rally for another potentially nice short set up, for a final plunge to the 1.2530 area. If you are a short-term Forex trader, continue to hit the short side while scalping profits off the lower band lines that are containing the short moves.

EURUSD: The sideways movement has occurred, so keep looking for a breakout move. Daily trends are obviously up, so look to buy dips, unless the 15-60 minute time frames turn lower. FX Traders may may want to fade rallies should a breakdown occur, as it is also posible here and somewhat suggested by the computer forecasts after a brief rally in price.

NZDUSD: NZDUSD forecast chart suggests a breakout  to the upside is likely, but there is a tad bit of room on the downside until the lower Andrews Pitchfork Support line is reached, so use caution or stops that are a bit wider below the lower fork line. A stop at .8160 should keep us in a long trade if it breaks out to the upside above .8200.

FX Trade Recommendation 1: Buy NZDUSD @ .82 stop to open, use .8160 stop loss, target = 82.80.

FX Trade Recommendation 2: Buy NZDUSD @ .8180 Limit (or bettter), .8160 stop loss, target = 82.80.

See the NZDUSD Forex Forecast chart below:

EURCHF: Sideways movement then a big breakout, which may have started to the downside, with Friday's move lower, as the 15-60 minute trends turned lower. Consider fading (selling) rallies for a while as suggested by the computer forecast models.

USDJPY: Looks like one more rally before an intermediate top, but this could be tricky since we had a gap open Sunday. See the Dollar-Yen forecast below on the daily chart: 

FX Trade Recommendation: Buy USDJPY @ 82 or better (use some discretion on this on), use 81.20 stop, target 84.50.

Dow Jones Stock Index: topping action that was expected in ND (NASDAQ), SP (Standard & Poor's 500) and DJI (DOW) now appears to indicate that these market indexes may have finished the upside move for the time being. Look to short rallies for now…

DJI Trade Recommendation: Sell DJI 13150 or better, use 13220 stop loss, target 1 = 12880, target 2 = 12800. Long-term picture should clear up after the pattern of this sell-off confirms if it's bearish or just a correction lower before a final top.

Cycles suggest that we could see some fireworks lower into mid May or so. Stay tuned. See the Dow forecast charts below:

OIL: Crude Oil Traders short oil from 105, move stops to 104.30 to lock .70 profit. Profit targets are 100.90 and 96.75, so exit at least 1/2 of the position at 100.90 and trail stops down to 96.75 price area…

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