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Automated Trading

Black box systems, strategy automation, algorithmic trading, etc...

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    • ANNUAL FORECAST FOR EURJPY (2022) EURJPY Annual Forecast – Price Is Set to Scale New Heights With a Bullish Flag Formation The annual forecast for EURJPY is for it to scale new heights, having conformed to a bullish flag formation. The bullish flag formation, an offshoot of the triangle pattern, began towards the tail end of 2020 as bulls began to exercise dominance in the market. The market began to recover from the 116.910 support level in May 2020. It pulled back when it first hit the upper border of its triangle pattern and surged through it at the second time of asking, thereby leading to the creation of the flag pattern. EURJPYJPY Significant Zones Supply Zones: 134.150, 140.650, 149.010 Demand Zones: 113.920, 116.910, 127.630 EURJPY Long Term Plan: Bullish A bearish impact is visible annually in the market, notably since 2013. Every time EURJPY makes a bullish move, the move is cut off prematurely and it always leads to a plunge back around the 113.920 demand level. This happened from 2013 to 2016, and then from 2017 to 2020. The result is a triangle-tapered market structure. By June 2020, the price hit the 116.910 demand level and began another ascent, but this time, it eventually broke the triangle pattern on 2021 New Year’s Day. The flag pole was formed as the price surged from 120.920 and was stopped abruptly at 134.150. Subsequently, EURJPY began cranking through a downward channel. This continued into the year 2022. The market forecast is for an upward liquidity flow. The upward signal of the MA Cross is still very valid. Meanwhile, the Moving Average Convergence Divergence indicator is showing dwindling bullish bars. This is due to the downward ranging in the market. Its signal lines remain above the zero level. EURJPY Medium Term Plan: Bearish In early 2022, prices are set to drop after hitting the upper border of the ranging channel. The MA Cross is directed down-sideways to show the undulating nature of the current market. The same can be said for the MACD indicator. The annual forecast is towards the end of the year 2022 into early 2023 when the bullish flag pattern is anticipated to drive the market upward towards 140.650. Source: https://learn2.trade 
    • ANNUAL FORECAST FOR GBPJPY (2022) GBPJPY Annual Forecast – Bulls Have the Bias in a Ranging Market The annual forecast for GBPJPY points to a bias in the bulls’ favor. The market has been in a ranging pattern as bulls and bears tussle for preeminence. Despite the bears’ being more aggressive, bulls are favored to gain preeminence. This is chiefly due to a very strong support level, which is at 132.980 and extends to 128.620. Currently, the price has risen from the support level to test the 157.000 resistance level, intending to break through it. GBPJPY Significant Levels Resistance Levels: 157.000, 174.770, 193.610 Support Levels: 149.260, 132.980, 128.620 GBPJPY Long Term Plan: Bullish Sellers effected a correction to the bullish rise that happened from mid-2012 to mid-2015. The market got rejected at 193.610 and it took about a year to fall back to the 132.980 strong support zone. A bullish bounce occurred after that, but a limit was placed on the market at 157.000. This helped the seller to keep pounding against the strong support unsuccessfully. The bulls have stepped back to lift the market to 157.000. The market rose from the support level in November 2020 and violated the 144.110 middle-range line. By May 2021, the price had touched below the 157.000 resistance and was rejected. Price, however, keeps recovering from the 149.260 level to retest the resistance. This continues into the year 2022. The RSI (Relative Strength Index) influences the annual forecast in the bulls’ favor as it has remained above the mid-level since 2020. GBPJPY Medium Term Plan: Ranging On the weekly chart, the market is essentially in equilibrium, as shown by the EFI (Elders Force Index) power line, which is almost parallel with the zero line. The RSI indicator still predisposes the market in the bulls’ favor as its line remains in the bulls’ half. The market is set to drop to 149.260 again to continue ranging, but the forecast is that GBPJPY will eventually break upward towards 167.830.   Source: https://learn2.trade   
    • Date : 14th January 2022. Market Update – January 14 – USD longs trimmed positions. The market has well priced in elevated inflation and an all but assured March rate liftoff, hence taking in stride a record clip in core PPI at 8.3% y/y and the drop in continuing jobless claims to 1,559k, the lowest since before the pandemic. Markets trimmed long positions and deemed, for now, that several US rate hikes this year are fully priced in.   USD (USDIndex 94.73) – found a floor above 94.50. US Yields 10-yr has lifted 2.0 bp to 1.72% overnight, as hawkish Fedspeak continued to fuel tightening speculation. – Fed Brainard acknowledged that she too could vote for a March rate hike. The Bank of Korea added to the hawkish tone by hiking the key rate to 1.25% from 1.00% and signalling that more moves could be on the way. Bank of Japan is deliberating how it can start telegraphing an eventual rate hike. – Yen on bid. China’s trade data showed a marked slowdown in both export and import growth. Equities – tightening speculation has put pressure on stocks. GER30 and UK100 are down -0.4%. USA100 dropped -2.5%, JPN225 corrected -1.3%. UK economy stronger than expected before Omicron. Monthly GDP data for November were a positive surprise, with a rise of 0.9% m/m that compensated somewhat for the disappointing October reading. USOil – at 81.68 after 80.75 bottom, amid concerns on Chinese fuel demand & whether US government will act to cool oil prices. Gold & Silver – best weekly rise since November – remains however below the key $1835 barrier. FX markets – EURUSD at 1.1482, USDJPY down at 113.63, Cable at 1.3725. European Open: The March 10-year Bund future is down -6 ticks, broadly in line with moves in Treasury futures, while both the Schatz and the 30-year futures outperformed. The UK already signalled that virus measures will be relaxed further in coming weeks, which will add to the arguments of the hawkish camp at the BoE. Today –Headlining is the ECB Lagarde speech and US December retail sales report. Biggest FX Mover @ (09:30 GMT) AUDJPY (-0.40%) breaks below 20-day SMA at 82.60 (50-DMA). Fast MAs aligned lower, with MACD lines negatively configured, RSI at 36 but stochastics pointing higher suggesting correction. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • If you can, day trade USD/JPY between 12:00 and 15:00 GMT. London and New York are open most of the time during this period. Even if Tokyo doesn't open, the three-hour window usually presents the biggest price action of the day.
    • When it comes to its web platform, Forex.com may suit a beginner's needs: user-friendly. Good customizability (for diagrams, workspaces). Various order types. Overall, this platform is probably the best option for beginners.
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