Weekly Update

GBP/USD 1.5175:
Closing my previous call.
Unlike what I expected the British Pound managed to break the barrier of 1.50 to 1.5175  and as a result I will end my previous short call. However, this didn't change my long term view and should we see a new break below 1.50 this may trigger a new short call.

Oil 57.19:
The WT Oil behaved as I predicted and climbed all the way up from the mid 40's to 58 getting him closer to my profit target at 60. It may still fluctuate within the range of the 50's but I don't expect new lows.

Dow 18080:
No change in my view despite the Nasdaq's new highs.

EUR/USD 1.0863
No change in my view.

Last 10 Days in the Markets

Oil 56.14:
In my previous post from April 7, I wrote the following regarding Oil "I lean more towards a move up" as you can see on the chart below Oil managed to hold above the support level of 50 and climbed above 57 to close the week above 56 after coming all the way up from the low 40's as the model predicted. The days ahead will set the tone for further direction. 

Dow 17826:
As my Model predicted the Dow lacked the strength to hold above the 18200 level. No change from my previous posts and Model still signalling a Sell.

  

EUR/USD 1.0803:
No change from previous calls.

GBP/USD 1.4955:
Despite testing the 1.50 level again, The Cable couldn't manage to hold and fell back into the range. still in the making.

Bi-Monthly Updates on Oil, Dow, EUR/USD and GBP/USD

It's time for Updates on all of my model driven calls since I started this Blog back on February 9 this year.
In respond to readers request, I only post updates when I see it necessary due to changes in the market or serious moves in the positions I called. Otherwise, I find no reason to update even if days go by. As I wrote under my profile, my model isn't for day trading or short term trading. Although many times it may hit the profit target in matter of days as you can see from my past calls but the core of the model is price driven and not time driven.

Oil 53.25:
As mentioned on my previous posts, we saw a range from the low 40's to the low 50's which gave us the confidence to buy long from the low 40's. we also saw today a break above the 52 range up to 54.13. This works well if we entered from the low 40's which gave us a 1000 points move. however, my model is sending some confusing signals as to whether this will hold for additional move toward 60 and up or we will go back into the range of 50 and below. I lean more towards a move up but this isn't scientifically proven and I may be wrong in reading the signal here as there is definitely some resistance at this levels.

 

Dow 17875:
Model proved to be right on this one. we sold the market at 18200 and despite some moves in the recent days to the upper levels, so far it didn't hold and fell again. still in the range of 18200 to 17600.

EUR/USD 1.0810:
Model signaled a sell at 1.1340 and despite some attempts it didn't gain the strength to climb back to those levels. Our model is clear that the Eur/Usd is in a downtrend.

GBP/USD 1.4808:
The Model predicted back on March 19 that if it fails to move above 1.50 we can expect additional move to the downside of several hundreds points. As we can see on the chart it failed to make a move above 50 and so this move is still in the making.