Weekly Newsletter from 30 – 3 November 2017
Small part of currency sections from last week letter…
CURRENCIES
Last week USD moved sharply higher against most of the currencies. Real, Rand, Peso and commodities currencies lost big value. Euro and Franc also lost big value. Euro is ready to test 1.1575 level which is the most crucial astro support level; after that we may see 1.1288 level. Euro and Franc’s weaker trend pushed USD towards 95.00 level. Our first target of 94.65 level got achieved.
This week we are still recommending selling Australian dollar, Canadian dollar, Euro and Franc on any rise. Wednesday will be the best day to sell most of the currencies and on Thursday and Friday once again USD will rise.
On Monday dollar may open higher but from the middle of the trading session we may see dollar losing some momentum. On Tuesday also dollar will lose some value and most of the currencies will gain value.
Emerging market currencies are trading negative, and still a weaker trend will continue from the middle of this week. On Monday and Tuesday the positive trend may remain in Rand, Real, Peso and Rupee.
Canadian dollar and Australian dollar are ready to fall further, we may see another 3% fall in both these currencies in the coming two weeks so hold sell positions or add more sell.
On the lower side 94.05 is a very strong support astro point in USD so buy aggressive positions if USD goes there. On the higher side if USD remains above 94.65 level for three days then the 96.55 level is possible.
Don’t buy any positions in Australian dollar. We recommended selling at 0.8088 level and our lower side target is 0.7511 level. In Canadian we recommended selling at 0.8200, and our lower side target will be 0.7615 level. Euro we recommended selling at 1.2088 level and lower side target is 1.1575 and 1.1288 level. If the equity market doesn’t fall then Franc may test 0.9615 level. We recommended selling Franc at 1.0555 level.
Pound we recommended buying at 1.21 with target of 1.3775, last month recommended closing all long and selling at 1.3755 with target of 1.3175 and in the worst-case scenario 1.2775 level.
Overall, most of our members who trade currencies praise our work and stated that soon I will be right on the market predictions.
On Tuesday we will put out our strategy on currencies markets; at this stage trade in emerging market currencies as mentioned above. For the last six week we have been stating: A Life time opportunity is selling in euro at 1.2088, France 1.0593, Australian dollar 0.8198, Canadian dollar 0.8283 and Pound 1.3775 is a great sell so it is free money in all these currencies.
Thanks & Bless
Mahendra Sharma