Market Forecast 03-27-12

Currency Analysis – EURJPY and USDCHF

The EURJPY currency pair should be topping within 2-3 days maximum, as it completes a 5th wave rally for this leg. Look to sell once 15-60 minute trends turn lower. See the daily Euro-Yen forecast below.

EURJPY Euro-Yen Chart

 
The Dollar-Swiss (USDCHF) is trending lower into our first RED time-band for a low. However, price patterns suggest lower prices in the days ahead. Watch European stock markets lead the US market lower. Look to sell rallies for now. See the chart with the complete analysis below.
 
USDCHF Dollar-Swiss Analysis

Stock Market and Crude Oil

ND: NASDAQ is topping in an extended 5th wave advance that is quite clear. Expect this leg to reverse within 2-3 days maximum. Look to sell once 15-60 minute trends turn lower. See the ND stock market chart below.
 
NASDAQ Market Analysis on Chart
 
Crude Oil: Oil is triangle bound within a current uptrend, thus odds favor a breakout to the upside. However, as with any pattern like this, it is just a game of probabilities. Recommended trade based on the forecast is to buy a breakout above 108.05 or sell a breakout lower below 105.00; otherwise, scalp the price range until the breakout occurs off of those two price levels. Look at the daily crude oil chart below showing this analysis with the triangle labeled.
 
Crude Oil Analysis Breakout Trade Recommendation
 
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