Trading opportunities: Since forex trading ideas 2013 a high of 67. 70 USD, the market has transitioned into a phase of downwards movement.
Cycles and calculations suggest that the drop from the 13th of February isn’t complete. I reckon that this downwards correction will continue through the 11th of April and stop at around 57. We expect to see 2 upwards corrections over the course of the next 40 days. If the daily bar closes above 67.
Trading opportunities on the currency pair: On the back of declining oil prices, I’m expecting to see the formation of a W-model with targets of 1. The case for growth will disappear if the weekly bar closes below the A-A channel. Trading opportunities on the currency pair: last week, this cross declined by 293 pips to reach 1. This resulted in a double top formation, which will be confirmed should the pair drop below 1. My forecast has the price breaking out of the B-B channel downwards, followed by a further drop to 1.