FOREX market review/prognosis from Forex Cloud – 09/30/12
I don’t want to brag, but the forecasts for the EUR/USD and AUD/USD pairs was 100% dead on, and brought me, my clients, and everyone else who listened to my suggestions, a minimum of one hundred pips from every pair.
The situation with the LONG position in the USD/JPY pair changed for the better, though the pair hasn't grown to the planned level. But if anyone, like me, added long positions while the pair was going down, it is possible to close them without a loss (I was able to make a small profit). I still do not believe that the pair will descend lower than 77.50, but it is still possible to test this level and I'm going to re-enter with a LONG position when the price will be closer to this level or (if the pair will go UP) when it will fix itself higher than 78.50.
A number of important events awaits us next week (decision-making for the rates of the banks of Australia, Europe, Great Britain and on Friday, the data on the labor market of the USA will be released) and it is possible the volatility will be raised. On the other hand, the main pairs are in the middle of their channels. In consequence of this, stating a forecast for the next few days is difficult, and it is better to wait after the market will select its direction after the news. However, I want the readers to pay some attention on the AUD/NZD pair, which is at the bottom border of its price range of the last two years. I think it is logical to expect a bullish move and look in the possibility to enter with a LONG position.
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