Forex Market forecast yields more than 70 pips profit

00:15GMT EUR/USD 1.3245

According to our previous forecast, buyers emerged upon the strong support between the 3177-97 suggested level for a nice 70 pip thrust. (The wedding and reception has ended now let’s see how everyone feels). Price is now strongly converged and as suspected last night – I felt the bag holders were drafting bulls into the thrust to the 3380 resistance listed BUT then we saw a massive run down through the stop levels. Typical reception after the wedding…….

I still have a good deal of chaotic support below 3177, sprayed out nicely as Gann would approve. I have much less slope northward but the resistance appears clean versus the chaotic support below. I am still looking for some fundamental event needed to completely bridge the sprayed-out support for any type of clean and safe bear trade. On the other hand, the currency this week has traveled the route of least resistance, north.

The recent scenario as described in our forecasts has been breaking resistances listed, re-tapping back down to confirm new support – then thrusting to the next resistance level.

The battle this immediate moment is at 3240/13.

Resistance is at:

3248, 3293, 3363-89 and then that roof appears wide open

Support is sprayed-out at:

3220, 3183/67, 3132 to3097 then 3043

The blush of this chart shows bullish pressure that I think is waning near the current level; previously mentioned exhasution may set in for tests of the choppy support. I do not use classic technical indicators; I measure price action with timing. I like sharing forecasts and sometimes in a forecast I can make a clear opinion of what I would do at certain levels. Better yet is to issue a real-time trade alert. This is best left to match up with my timing alert posted earlier.

http://forexforums.dailyfx.com/blogs/britt-maras/2228-fx-market-timing-alert-eur-usd-may-1.html

For the past month I have not been working my normal schedule but that should change so I hope to be able to offer alerts more often. Follow the price action, stay with the map of levels and good trading to you.

Britt Maras – Senior Currency Strategist

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Forex Traders may consider this market timing price action forex trading signal

05:00 -05:40 GMT for 3.5 hours duration with semi-strong price action

This Alert may have a starting time and duration deviation of  +/- 25 minutes

Price action ratings are low, moderate and strong; this alert is ’semi-strong’

I know I cannot be perfect but I strive to provide the best detail for these forex signals. I may not have time to offer a new forecast or trade alert but I will if possible; in the midst of some busy developments.

Good trading to you and kind regards

Britt Maras — Senior Currency Strategist

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