forecast for week Nov 10 - 14

eur/usd: weekly candle 3-7 Nov. This candle pattern marks the second week of correction of a down trend and is a doji. It signifies uncertainty but its high is lower than the previous week and the correction up is less. This leads me to continue to be bearish on the euro and give last week's levels of resistance (1.3275) and support (1.25 then on to 1.23).

forecast: the candles are coy yet whisper sell the unit against the buck




usd/jpy: weekly candle 3-7 Nov. This candle pattern is on the top of a correction of a down trend and is called doji. It signifies uncertainty and we should hold our horses. I anticipate support at 95.50 and resistance at 102.50.

forecast: the candles advise you to make yourself comfortable on that fence.






gbp/usd: weekly candles 27-31 oct & 3-7 Nov. This two-candle pattern is on the current down move and is called engulfing. In this position it is a strong bearish signal. Initial target/support at the tweezers (identified last week) at 1.5280 with resistance at 1.61.

forecast: the candles say that sterling is set to slide.





usd/chf: weekly candles 27-31 oct & 3-7 Nov. This two-candle pattern is on the current up move and is called engulfing. In this position it is a strong bullish signal and if we get a daily close above initial resistance at 1.18, next target is 1.19. Initial support at 1.16 with strong support at 1.1470.

forecast: the candles say that the dollar will rock as the swiss franc rolls.