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XAUUSD - Gold in a up-trend but limited upside?

Hi community members,
Background: this forecast base on balanced distribution (supply vs demand; price oscilator and median). Because the technical contest is to predict price on 1st of June, so I use weekly chart for trend and range forecast; daily chart for price point forecast.
Weekly chart: the chart below shows price has gone up since last December. Price is winthin balance area (ichimoku cloud) of weekly chart and may be difficulty to go up futher at least in the next month. 130x and 1246 …
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Update 1: Price falling in three week to 1240 from 1295. Demand for gold reduce after FOMC statement and FED fund rate released. Now price around 1240 level, can this support level hold? It would be chance to buy gold again as expect politics event surprise.

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Update 2: Prices fall sharply from 1295 level. Demand for safe asset reduce and risky asset as Nikkei, Dax, US500, US30 ... rise quickly. Gold price can bounce back 1240.

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Update 3: It's seem that Gold has found strong support at around 1215 and price bounced back to 1230 as of writing. Gold decreased as market expect Fed hike rate and reduce balance sheet as good economic data released (non-farm employment data) that make increase inflation expectation, bond yield rise and reduce gold demand. About technical view: Gold price is rebalancing and bounced back 1230 and this process could continue up to above 1240 level.

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USDNOK - Visit 8.7 level again!

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Background: this forecast base on balanced distribution (supply vs demand; price oscilator and median). Because the technical contest is to predict price on 1st of June, so I use weekly chart for trend and range forecast; daily chart for price point forecast.
Weekly chart: Price has moved inside 8 ~ 8.7 range for a years and median price area is thin now, supply and demand are balance in small price range and waiting fundamental data (US economy, monetary policy and oil pri…
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Update 1: Prices continue to rise slowly but stable and can hit target 8.7 in few days ahead. Oil price falling and stand near support level now. I expect commodity currency such as AUD, NZD, CAD and NOK continue are weak.

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Update 2: Prices visited 8.7 last week and fall quickly from high level on last friday but  prices still be in uptrend, it's just correction. I'm not surprise if prices move up above 8.7 again.

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Update 3: NOK demand is supported by increasing oil prices. The pair USD/NOK still be an uptrend and oscilating inside range 8.5 ~ 8.7. USD/NOK is trading at 8.55 as of writing, it will be too early to expect prices decline futher more from this level.

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USDSGD - Can break support level at 1.39?

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Background: this forecast base on balanced distribution (supply vs demand; price oscilator and median). Because the technical contest is to predict price on 1st of June, so I use weekly chart for trend and range forecast; daily chart for price point forecast.
Weekly chart: Price is near balance area in weekly chart and testing 1.39 support level. If price break lower can visit 1.38 (fibonacci 61.8%). Otherwise support hold price can bounce back and establish balance area 1.…
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Update 1: price is in small range now and it's seem that supply vs demand are balanced inside range. There is not yet signal for buyer go into the market. Market is less volatility so wait and see mode are appropriate.

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Update 2: It's seem that 1.39 level is hard to break. Prices has just moved up above 1.4 level but I don't think that path go up is not easy. I watch closely bottoming distribution progress of this pair.

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Update 3: Prices bounced back quite strong at the begin of this month and value area is 1.392 ~ 1.412 now. I expect the pair USD/SGD will consolidate inside this area before decide new direction.

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AUDUSD - a bearish month in May

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Background: this forecast base on balanced distribution (supply vs demand; price oscilator and median). Because the technical contest is to predict price on 1st of June, so I use weekly chart for trend and range forecast; daily chart for price point forecast.
Weekly chart: shows persistent supply above 0.77 level, price still is in small range on the weekly chart. But median price in smaller time-frame is decreasing. I expect sell power stable and price can break lower in t…
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Update 1: We have a very nice week for bear. Prices fall freely the same way with copper price. The next support level may be 0.733.

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Update 2: Prices was in a down-trend. Market is rebalancing after fall sharply last week with the same direction of commodity prices. I wait new bear power after rebalance process finish.

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Update 3: Prices fall quickly to my target at 0.733 and bounced back to 0.74 in a consolidate process. My strategy is sell on rally with medium-term target is 0.72 and long-term even below 0.7 level.

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NZDUSD - Another bearish month is expected?

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Background: this forecast base on balanced distribution (pure technical view). To simplified: I use monthly chart to forecast trend and daily chart to predict price on 1st of June!
Monthly chart: It's clear there are three months price has been decreasing, it's simple that I expect we will have one more month to decrease.
Daily chart: Price is fluctuating around decreasing median. It need time for market distribute goods and service around the mean so I don't think price wi…
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Update 1: Price is going on the right track of forecast. Balanced area continue to go lower, there are a lot of space ahead so I expect price will decrease on remain days of the month.

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Update 2: prices still be in small range and has not yet break the old range but median prices in daily is decreasing.

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Update 3: The pair NZD/USD still be on the way to my target 0.67. I think that current situation is good for Bear and prices is below sma (50, 100, 200) and median price is decreasing stable.

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USDCHF - Limited down-side but difficult to go up!

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Background: this forecast base on balanced distribution (supply vs demand; price oscilator and median) and expectation that Fed rate hike and reduce balance sheet in this year. Because the technical contest is to predict price on 1st of June, so I use weekly chart for trend and range forecast; daily chart for price point forecast.
Weekly chart: Price hit 1.034x after Donal Trump win the election and has adjusted retracement since Jan 2017. Now price is near balance area in …
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Update 1: Price still within a small range and less volatility. Trend is still down but limited at 0.99 support level. I don't see bull power after FOMC statement and FED fund rate data released. Wait and see mode for this pair.

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Update 2: Prices was in a downtrend but path to go down is fighting with support level  at weekly chart. I expect supply and demand are balance now at this area before decide clear new direction.

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Update 3: There are two long bullish candles make prices increased from 0.985 to 1.01. I think it's not an up-trend stable for USD/CHF, it's just oscilate inside balanced range but it could be an early signal for Bull.

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GBPUSD - Short recovering continue!

Hi community members,
Background: this forecast base on balanced distribution. Because the technical contest is to predict price on 1st of June, so I use weekly chart for trend and range forecast; daily chart for price point forecast.
Weekly chart: There were a lot of Short GBP position follow by Brexit event but it's time for recovering short position after market denied 1.2 level twive times.
Daily chart: Price is rising and can visit 1.34 in near future. I expect price will move in range 1.28…
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Update 1: Rising momentum has slowed and bull power is loosing. It's could be time to correct and consolidate things gained before think about go far futher. I continue interested in long GBP but at lower price.

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Update 2: prices continue to go up and I expect 1.3 level in a few days ahead. Pound has three bullish week consecutive, uptrend is stable but I think prices will not move quickly.

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Update 3: Last week was a bearish candle, prices decreased to 1.284x level and bounced back to 1.292 level as of writing. The pair still be an up-trend but I'm asking myself that what thing will make price go up above 1.3 when momentum is weak.

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EURUSD - Visit 1.1 level after French predential election?

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Background: this forecast base on balanced distribution and politic event (2nd round of French predential election). Because the technical contest is to predict price on 1st of June, so I use weekly chart for trend and range forecast; daily chart for price point forecast.
Weekly chart shows market stop to sell EUR vs USD from last Dec 2016. I think it's base on fundament data (Inflation expectation, monetary policy from ECB and also politics event ... ) that would be very d…
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Update 1: This pair is quite boring after huge gap last week. It's seem that market is waiting new force from fundamental data and politic even at the end of this weekend.

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Update 2: My target hit on this monday after 2nd round of French presidential election finished. I expect prices will go around 1.1 level most of this week.

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Update 3: Prices was at 1.102 at the begin of last week after 2nd of French predential election finished with a victory of Emmanuel Macron, that was six months high level. Market was taking profit quickly and it make price deceased to 1.085 and found support at that level.

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USDCAD - Up-trend for this pair!

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Background for the technical contest base on balanced distribution. Because the technical contest is to predict price on 1st of June, so I use weekly chart for trend and range forecast; daily chart for price point forecast.
Weekly chart: weekly chart shows price just break and stand above resistance level 1.36. It could be a buy signal for price continue go up in some weeks ahead.
Daily chart: Price is finding a new balance area. Base on fibonacci level, I chose 1.383 level…
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Update 1: We have another bullish week, price break above 1.37 and stand stable on it. I expect commodity currency such as AUD, CAD, NOK ... are weak followed by decreasing price of oil or copper. I don't think that price will be stopped at here, it could go up futher upto 1.38 or 1.39

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Update 2: last week was a doji candle weekly chart. Prices increased at the begin and deacreased at the end of last week. That's price action. If prices continue to go down, 1.358 level will be good level for buy entry.

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Update 3: The H4 and daily chart show supply power stable above 1.37 and it could be signal of bearish correction for USD/CAD. Prices is falling as of writing at 1.363 and finding demand at low prices level. I think that 1.355~1.358 could be demand area and prices can stable at this area. I still expect uptrend for long-term.

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USDJPY - Inside range of down-channel!

Hi Traders,
Below is my technical view on USDJPY pair, this analysis base on balanced distribution. Because the technical contest is to predict price on 1st of June, so I use weekly chart for trend and range forecast; daily chart for price point forecast.
Weekly chart: Price is in down-channel from Jan 2017 from high level 118.xx, price just bounced back from 108.2x. Price is standing at balance area in weekly chart, I think market need several weeks or months to accumulate before break to upsid…
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Update 1: This pair was still in down-channel and stand at upper bound. I think that would be risk to buy at this level with expectation price will go higher. I wait and see price action at this level to make decision.

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U[date 2: USD/JPY is trading circa 112.8 as of writing. I'm waiting for sell signal from market to go entry.

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Update 3: JPY and Gold is very weak as demand for safe asset reduce and risky asset increase because US economy and inflation expectation are good.

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