Market Forecast for 10-25-12

The Aussie pairs behaved perfectly, selling off to the prior wave-4 areas, hitting targets, then resuming the uptrend (analysis and charts provided below).

Stocks hit their first support levels and profit targets from our very nice sell signals, and are now at support. Since they did not break support and tank lower, they should bounce or do better from here. However, breaking this 2-day low would likely accelerate the prior down move. Be short if it does. See S&P500, NASDAQ and DAX daily charts below:

s&p500 daily chart for october 25th, 2012

nasdaq daily chart 10-25-12

dax 30 chart with analysis for 10-25-2012

NZDUSD: We did get chopped on the short signal in the Kiwi, but, as suggested, placed the long trades and are now making up for the short loss. See daily Kiwi forecast chart below with:

kiwi nzdusd daily forecast chart for 10-25-2012

AUDCHF: The Aussie-Swiss is long with a nice profit and a stop and breakeven, as it approaches target 1. See daily chart below:

aussie-swiss daily chart for october 25, 2012

AUDJPY: Aussie-Yen pulled back to its wave 4 and has exploded higher. It is nearing the upper purple resistance band, which, looks like it will be reached on the upside. Stops are now locking in 50% of the profit. Automatic forecasts meet right where the resistance is, so look for a stall or retracement from that area. See AUDJPY 240-minute chart with analysis below:

audjpy 4-hour chart 10-25-12

EURAUD: This Euro cross is still short, stops at breakeven, and close to first target. See daily chart below:

euraud euro-aussie daily 10-25-12

EURJPY, EURCAD, AUDJPY: Crosses sold off to 4th wave of lesser degree which was out 4 hour price target, and have now continued their uptrend in system trades.

EURCAD had bounce from support target, but he other pairs have taken off to new highs. Therefore, this bounce may be just a corrective rally for the EURCAD. Caution if long off the lows. See the charts below for these currency pairs (AUDJPY chart provided earlier-see above):

eurjpy 240-min chart for 10-25-12

eurcad 240-minute chart for 10-25-2012

EURUSD: The Euro is less clear here, but so far, the predicted sell off looks like a corrective wave so it may try for another high. See the daily chart below:

euro daily chart for 10-25-2012

SGDJPY: The one stinker was the Singapore Dollar vs. the Japanese Yen, which sold off a bit, but the 60-minute trend stayed long, so it's not a big deal.

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