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Charmer Charts Weekly Track Record
Charmer Charts has a very strong track record of consistently and accurately forecasting the markets. Do you need to know where the markets are going?
Week commencing 17th May
German Bund
Our Forecast: 'Bunds continue to gain strength and this week does not seem to be any different. The strategy remains the same of buying into any short term weakness looking for the market to continue the upward trend. There is scope to exceed 128 this week and this would propel the market higher with 128.95 then looking to be your weekly upside objective. This should hold initial move higher.'
The Outcome: Bunds rallied from the start of the week, reaching our target of 128.95 on Friday which did indeed hold the move higher for the week.
EUR/USD
Our Forecast: 'Even with such severe oversold indicators there seems to be no let up in the downtrend we are experiencing and now we have broken through the 2008 lows we should attempt now the long term technical 50% fib level of 1.2140...If we can hold 1.2140 this coming week then we should be able to see a corrective rally back to 1.2600/25 possibly 1.27...'
The Outcome: EUR bottomed exactly at 1.2140 then rallied in to the rest of the week to a high of 1.2673.
FTSE 100
Our Forecast: 'FTSE held below the trend line last week and now looks set for losses this week. On the downside there is a gap to fill to 5084.'
The Outcome: FTSE Fell from a high of 5322 to fill the gap to 5084 and continued lower to 4940 on the week.
Eurostoxx
Our Forecast: 'We now look to fill last Monday’s gap down to 2463....'
The Outcome: Eurostoxx fell from 2688 down to a low for the week of 2476
Dax
Our Forecast: 'The failure to test this years highs however should keep sellers in control for this week. 6020/16 offer good support this week but a break below 6000 could see a test of 5912/08. Below 5887 sees sellers keeping the pressure up as they look to fill last week’s gap down to 5728. Good support from here down to 5685 may hold the downside this week...'
The Outcome: Dax fell from 6187 to a low of 5688. just 3 ticks from the predicted low.
UK Gilts
Our Forecast: '...These gains could be set to continue this week for a test of recent highs at 118.50. If this does not hold the market back look for 119.34 and then 119.78/95 this week. Good support is seen at 117.52...'
The Outcome: Gilts bottomed at 117.53 as expected to soar throughout the week to achieve our target of 119.95.
Week commencing Monday 04th May 2010
Dax
Our Forecast: ‘We posted a bearish key reversal week, closing lower than any of the last 5 weeks. This should at least signal the end of the rally with potential for a significant losses to follow as we have been suggesting all of last week. Last week’s low of 6032 is the level for sellers to look to break below this week and then below 5977 should see 5925/20 followed by 5865/40.’
The Outcome: The market feel from the start right throughout the week, reaching our target of 5840 and sinking further as we later predicted during the week.
Euro Stoxx
Our Forecast: ‘January’s key reversal month is having a continued negative effect on this market and a break below 2680 this week could lead to a test of 2597, the low for this year so far. There is good support from here down to 2550 and this should hold the downside this week. However if we were unable to hold above here we could see the market lose another 100 ticks before the end of the week.’
The Outcome: The Market plunged each day from the start of the week breaking 2550 to reach 2450 and then 2333.
FTSE
Our Forecast: ‘FTSE plunged last week as we had been warning it would and hit our weekly target of 5481 on Friday, stretching to 5454. Any recovery looks to be just a correction and losses should follow before too long. If we lose last week’s low of 5454 then we should see a test of excellent support at 5386. This is good enough to hold the downside for a while at least, if not the whole week. If we post a break below 5340 however further losses should than take the market down to 5270/40 before better support at 5150/30.’
The Outcome: FTSE fell each day, right from the start of the week to achieve our target of 5130 and fell further to 4801.
EUR/USD
Our Forecast: ‘1.3340/60 remains solid resistance in this market. So sellers are looking to be waiting here…Support located at 1.3220/17...Now if we break through 1.3215 you should see further selling pressure come into the market for 1.3116, last weeks lows…a break through this support sees the market deteriorate further with 1.3034 then the weekly objective.'
The Outcome: The market fell everyday to reach 1.2521.
GBP/USD
Our Forecast: ‘(We could head higher to the)….1.5370/1.5400 region initially with potential for last weeks highs of 1.5500. This should be the top of any rally as we are below a major trendline here and sellers are looking to be waiting at these highs to drive the market lower. Only above 1.5525 negates further downside moves. If we lose support at 1.5220 then we should be able to come lower with 1.5050/20 then looking to entice. We need this support to hold to stop further downside moves to the long term uptrend from weekly charts evident at 1.4903.’
The Outcome: The market topped at 1.5336 on Monday and fell to 1.4596 by Friday.
10 Year German Bund
Our Forecast: ‘…if we can hold 124.21 then we have capabilities of trading higher again this week with 125.51/57 once more looking to be the weekly objective.’
The Outcome: The market bottomed at 124.27 on Monday and hit a high of 125.57 on Tuesday before continuing is climb in to the end of the week.
Week commencing Monday 26th April 2010
AUD/USD
Our Forecast: ‘Now if this week we do lose 9170 there is scope for pullbacks to trendline support at 9120/9100. Once more buyers are going to be waiting at these lower levels. It is only a loss of 9095 that would make this look weaker this coming week.’
The Outcome: The market fell below 9170 on Tuesday and fell to 9084 before bouncing to a high of 9280 later in the week.
CAD/USD
Our Forecast: ‘Short term we have resistance at 10016/22….If we do lose 9995 support look for the daily uptrend line of 9820 once more to entice.’
The Outcome: The market topped out at 10029 on Monday to fall to a low of 9805 on Wednesday.
Eurostoxx
Our Forecast: ‘This market continues to look weak with the uptrend broken and bearish patterns formed. A break below 2811 sees 2781/76 as your next stop. Profit taking on shorts advisable here initially as buyers look for this to hold for a bounce but a break later in the week is possible and below 2770 then risks a slide to 2740/34.’
The Outcome: The market fell from Tuesday, to reach our target of 2734 and then bottomed on Wednesday at 2686.
Dax
Our Forecast: ‘…pressure will remain to the downside. A break of April’s low at 6145/39 would signal the completion of the topping pattern and lead to initial losses to 6096 then 6055/50.’
The Outcome: The market fell from 6339 on Tuesday to a low of 6032 for the week.
WTI Crude Oil
Our Forecast: ‘However we have reached the trend line and also 75% retracement of the drop so 8550/61 will be an important level for this week. If we hold below here then bears will feel they are gaining the upper hand and try to capitalise on the weekly over bought stochastic. Even if we make it through 8561 we run straight in to the highs of the correction at 87.09.
Failure at these resistance levels invites sellers to establish shorts and pressure down to 8290/50 then 8165 and 8058/53.’
The Outcome: The market topped out at 85.63 on Monday, falling to a low for the week of 81.29 before bouncing back to 87.15.
FTSE
Our Forecast: ‘The market does appear to be making a top and a break below 5604 support will have sellers gaining momentum as they push for 5559/50 but a break below 5534 will then signal further losses to our target for the week of 5481.
If we can hold above 5604 then there is a chance for bulls to look for a test of April’s highs of 5796. This is solid resistance and is likely to hold us back this week.’
The Outcome: The FTSE topped out for the week at 5761 and fell to our target of 5781 and then a little further to a low of 5453.
Week commencing Monday 19th April 2010
CAD/USD
Our Forecast: ‘…we need to trade and hold back above 1.3535 to escape from a further barrage of selling pressure this coming week. Technically the market is overbought on the daily charts and this is not helping the bullish cause. A loss of 1.3410 would prove to be another stumbling block and we should then go down and re-visit the lows of 1.3280/65.’
The Outcome: High for the week seen at 1.3523 before plunging to our target of 1.3265 and then a low of 1.3202
FTSE
Our Forecast: ‘After stalling again at 5796 the market came sharply lower, breaking through to the daily uptrend of 5682. Today this uptrend is at 5688. Now this is good support, and if we lose this support we are looking at the uptrend being in danger. Losses would likely then take this lower to 5637 to 5624 before we could see a small recovery.’
The Outcome: FTSE held a low of 5688 exactly on Monday and broke lower on Tuesday to a low for the week of 5608 on Wednesday.
Euro Stoxx
Our Forecast: ‘ The plunge on Friday took us to our longer term 50% Fib level of 2866 which held and this may set us up for a recovery in the first half of the week. However the bearish weekly reversal and potential head & shoulders pattern indicates a top in place so selling in to rallies at 2920/33 and 2950/56 is the preferred strategy with stops above 2965.
If a break below 2866 is seen this week then sellers will be encouraged to add to short positions and pressure the market lower to a target of 2818/15. Here profit taking is expected and buyers will try their luck as this could mark the low for the week.’
The Outcome: The market rallied on Monday and Tuesday to a high for the week of 2927. The Euro Stoxx then fell to a low of 2811 for the week.
10 Year German Bund
Our Forecast: ‘Bunds doubled based at 122.07 last week, and closed higher on Friday…suggesting that we can go higher. However we are looking to correct first before this can happen.
123.37/27 is looking to be quite a good retracement target, with the weekly pivot being 123.17. Buyers should be looking to come back in the market on any dips to these lower levels.
123.76/78 is the contract highs. If we break above here then…look for further strength to emerge with 124.53/55 then targeted.’
The Outcome: Bund bottomed for the week at 123.37 on Wednesday to reach a high of 124.31 the following day.
Week commencing Monday 12th April 2010
CAD/USD
Our Forecast: ‘Resistance remains 10022/30. Initially buyers may look to take profits, but they will be reminded of the uptrend and they should continue to buy on any dips to stated support levels.
Support remains at 9938/30. Only a loss of 9890 would see the med term uptrend broken and leave us liable to pullbacks. However any pullback looks limited to 9830 and buyers will once more be out defending this support zone.’
The Outcome: 10047 marked the high for the week before falling to a low of 9836.
Eurostoxx
Our Forecast: ‘Nearby resistance located at 2942/44…2856 offers a good correction point and buyers are looking to re-invest on any weakness to these lower levels.’
The Outcome: Euro Stoxx topped out for the week at 2956 with a low point of 2865.
Week commencing Monday 29th March 2010
10 Year German Bund
Our Forecast: ‘...the topside is looking slightly more limited this week with 123.36/39 looking to be the top. Sellers will be in at these higher levels and they will hold unless we break 123.54.’
The Outcome: The market rallied each day of the week to reach a peak of 123.52.
WTI Crude Oil
Our Forecast: ‘Oil can trade higher this week… up to 83.30/50 and possibly the Dec highs of 8395. So be careful of going short at these current levels…above 84.00 where problems lie for the sellers. Buyers would then have the upper hand and 85.00 would be a blink away.’
The Outcome: Oil rallied steadily from 80.18 at the start of the week to a high of 85.22 at the end.
Dax
Our Forecast: ‘Dax broke above 6100 and this leaves us looking stronger this week with a target of 6250. Support this week is seen at 6092/87’
The Outcome: The Dax dipped to a low of 6115 in the middle of the week and then turned higher to achieve a high of 6249.
Week commencing Monday 22nd March 2010
GBP/USD
Our Forecast: ‘1.4780/70 is where Cable is looking to head to this coming week. Daily stochastic has turned negative, and for the time being this is a case of selling short term strength looking for a move lower. 1.5080/1.5110 offers good re-entry point for shorts and you will find other sellers coming forth to instate shorts on any rallies to these higher levels.’
The Outcome: GBP saw a high for the week of 1.5113 and then turned lower to a low point of 1.4798
UK 10 Year Gilts.
Our Forecast: ‘A break below 114.88/86 however breaks the short term uptrend and could take us back to 114.38 before a slide to 113.97/88. This could hold the downside but failure to do so sees 113.38.’
The Outcome: Gilts throughout the week to a low point of 113.94 and rallied in the week that followed.