Charts with forecasts are provided below for July 5th, 2012.
I hope you are paying attention and following our recos and charts. We are consistantly mapping out the major moves in advance. See charts below from July 5th's for breakout points, targets and likely paths.
Forex Market
Included Markets: EURUSD, USDCHF, NZDUSD, CHFJPY, GBPUSD.
The EURUSD collapses and is getting a bit oversold again, but I am looking for 1.2264 for this wave's low, so consider selling intra-day rallies until 1.2265 area for now. We appear to be in Wave 3 of larger wave (5) in this leg down.
The AUSSIE and the NZDUSD are both flying (showing lessening confidence in the USA). They are getting overbought so I expect a quick pullback if the sideways 2-3 day low is broken, and enough of a move to make some money before another long trade set up. Any pullback (if it happens) is likely to be a subdivided ABC correction, so don't necessarily be temped to buy the first pullback. I hope to reco the low leg at the right time-price. The pairs may just go sideways and attempt to make one more quick high. Either way, no huge move from here is expected, so get in and out fast with 150-200 pips of profit.
Stock Market
Included Markets: Dow, S&P500.
Consider selling the US stock market on a breakout below the two or three day low, and selling intra-day rallies. They are at or near our posted resistance levels.
Metals
Included Markets: Gold (XAUUSD), Silver (XAGUSD).
Consider buying silver above the two-day high of 28.45, for a corrective bounce to 30.15-30.75. Bracket the two-day high and low in gold. Either directional breakout will likely provide a nice profit.
For breakout trades on our daily charts, we suggest that you move stops to breakeven at 60% of risk on the trade from the breakout point (not for intraday signals).
