Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

analyst75

Weekly Trading Forecasts for Major Pairs

Recommended Posts

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

Last week, this pair moved largely sideways in the context of a downtrend. A break out of the sideways movement should happen before the end of this week (or next week), which would most probably favor bears. Although this pair is expected to continue its bearishness, especially in December, some bullish effort would take place, which may enable price to go upwards by 200 pips or more, before seeing another bearish correction, eventually. Time would tell whether EUR would reach parity with USD.

 

USDCHF

Dominant bias: Bullish

Just like EURUSD, USDCHF also consolidated throughout last week, in a context of an uptrend. A breakout should happen before the end of this week, ending the current consolidation. Price is supposed to target the resistance levels at 1.0200 and 1.0300. On the other hand, bullish effort on the part of EURUSD might force USDCHF to retrace temporally southwards, towards the support levels at 1.0100 and 1.0000.

 

GBPUSD

Dominant bias: Neutral

GBPUSD went flat throughout last week. The flat movement started about two weeks ago and it has resulted in a neutral bias in the near-term, while the major trend in the market remains bearish. A rise in momentum is expected this week, which would most probably favor the dominant bearish trend. The outlook on GBP pairs is bearish for this week, and thus, further southwards movement is expected on GBPUSD.

 

USDJPY

Dominant bias: Bullish

USDJPY is currently one of the strongest moving currency pairs. Price went upwards 310 pips this week, topping at 113.89, before getting corrected a bit lower on Friday. Since November 9, price has gone upwards by over 1200 pips; plus the outlook on the market is bullish for this week, again (the outlook is also bullish on other JPY pairs). Therefore, occasional pauses and corrections are supposed to be transitory this week, as price goes further north.

 

EURJPY

Dominant bias: Bullish

This is also a bull market – owing to the strong Bullish Confirmation Pattern present in it. Price went north 250 pips last week, after consolidating on Monday and Tuesday. The supply zone at 120.00 has been tested, and it might be broken to the upside this week, owing to the ongoing buying pressure in the market, brought about by persistent weakness in Yen. After the supply zone at 120.00 is overcome, the next targets would be the supply zones at 130.00 and 140.00.

 

This forecast is concluded with the quote below:

 

“Trading and markets have been a major part of my life for almost 60 years. Trading has been the means through which my family and I have received many blessings.” – Joe Ross

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

EURUSD consolidated throughout last week – in the context of a downtrend. A closer look at the market reveals that there has been some consolidation to the upside, and there would be some bullish attempt this week. EUR would rally versus most other major currencies, save USD, which is expected to continue strengthening this week. There are resistance lines at 1.0750 and 1.0800. There are also support lines at 1.0550 and 1.0500.

 

USDCHF

Dominant bias: Bullish

This pair also consolidated last week; while consolidation to the downside is revealed by a closer look. USD would remain strong this week, and would be seen going upwards against certain major currencies. The challenge is that CHF would also make some rally attempts this week, and thus, USDCHF may find it somewhat difficult to rally massively. There are resistance levels at 1.0150 and 1.0200. There are also support levels at 1.0050 and 1.0000.

 

GBPUSD

Dominant bias: Bullish

Cable ended a two-week equilibrium phase by breaking out significantly. The breakout was well anticipated and it ended up favoring bulls, as price went up 330 pips last week, slashing through the accumulation territory at 1.2700 and closing above it. This week, Cable would rally versus certain majors (like NZD and AUD), and of course, it is currently rallying against USD. This is something that may continue, but not without challenge from bulls.

 

USDJPY

Dominant bias: Bullish

This currency trading instrument experienced some bullish movement last week. Price went up 300 pips, testing the supply level at 114.50, and unable to go above that supply level. Price underwent some bearish correction on Friday, but the bullish outlook is far from over. In fact, the outlook on the market this week is also bullish, and further northwards journey is expected. Price would need to go above the supply level at 114.50, and then continue towards the supply levels at 115.00 and 115.50.

 

EURJPY

Dominant bias: Bullish

This cross underwent a smooth northwards movement last week, topping at 121.88, before closing below the supply level at 121.50. There is a Bullish Confirmation Pattern in the market and further bullish movement could be witnessed this week. There are possible bullish targets at the supply zones of 122.00, 122.50 and 123.00. On the other hand, the demand zones at 120.00 and 119.50 should try to hinder vivid pullbacks this week.

 

This forecast is concluded with the quote below:

 

“Over the coming weeks and months, many excellent short, medium and long-term trading opportunities for low risk Forex trades will present themselves. Now is the time to put together your game plan with multiple edges to profit from these trending currency pairs… Whether you want to open investment positions (using the weekly or daily chart), swing trade the 4-hour chart, or day trade the 5 minute charts, the opportunities are going to be plentiful. With these nascent trends, the leverage, the liquidity, and the 24-hour-trading the Forex market offers, you have to ask yourself: why aren’t you trading currencies yet?” - Gabriel Grammatidis (Source: Vantharp.com)

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

This pair made some bullish attempt in the first few days of last week. Price rallied 300 pips, testing the resistance line at 1.0850, before it began a serious bearish movement. The bullish gains that were initially made last week, were eventually lost as price plummeted, to close just above the support line at 1.0550, after testing it. The market outlook is bearish for this week, since EUR is expected to continue its weakness while USD would continue gathering stamina. There is a possibility that EUR would reach parity with USD in a foreseeable future.

 

USDCHF

Dominant bias: Bullish

Last week, USD/CHF moved sideways from Monday till Wednesday, and then started moving upwards on Thursday, in conjunction with the extant bullish bias. Price tested the resistance level at 1.0200, and later closed below it. The outlook on the market is bullish for this week; price could reach the resistance levels at 1.0250 and 1.0300. However, it would also be seen that CHF is rallying versus some major currencies, which may prove to be a challenge for the bullishness of USDCHF.

 

GBPUSD

Dominant bias: Bearish

Cable went upwards on Monday and Tuesday, reached the distribution territory at 1.2750. Price attempted to stay above that distribution territory, but the attempt was rejected as a southwards movement began, which eventually posed a threat to any bullish signal in the market. Price would move further southwards this week, going below one accumulation territory after the other. The outlook on GBP pairs is bearish for the week.

 

USDJPY

Dominant bias: Bullish

USD/JPY consolidated from December 5 to 7, and the rallied on December 8 and 9 (though the consolidation started earlier than that). Since the low of November 9, the market has gone up by 1400 pips, and this would continue. As it was forecast every week in the last three weeks, the outlook on this market, and as well as other JPY pairs, remains bullish. The supply levels at 115.50, 116.00 and 116.50 could be reached this week.

 

 

EURJPY

Dominant bias: Bullish

There is a conspicuous Bullish Confirmation Pattern on this trading instrument, albeit it is currently volatile. Price has recently swung up and down in the context of an uptrend, but the overall movement would be bullish. The targets for the week are supply zones at 122.00, 122.50 and 123.00, which were all tested last week. The major reason why price is generally bullish here is because there is a serious weakness in Yen, and as long as the weakness continues, EUR (which is weak on its own), would manage to keep on going upwards against it.

 

This forecast is concluded with the quote below:

“Trading and markets have been a major part of my life for almost 60 years. Trading has been the means through which my family and I have received many blessings.” – Joe Ross

 

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

EURUSD trended downwards last week, just as it was expected. Price moved sideways from Monday till Wednesday, when it started dropping further downwards. The support line at 1.0400 was tested, and although price closed above it, it would be tested again. The outlook on EURUSD is bearish for this week. So we may see further bearish movements which may enable price to break the support lines at 1.0400, 1.0350 and 1.0300 to the downside. Eventually, EUR might reach parity with USD.

 

USDCHF

Dominant bias: Bullish

In exact opposite manner to EURUSD, this market underwent a shallow bearish retracement within December 12 and 14. Price went up significantly on December 14, moving briefly above the resistance level at 1.0300, and later closing below it. USDCHF would continue to make rally attempts, though it would come across some challenges this week. While bearish corrections could be contained around the support levels of 1.0050 and 1.0000, the resistance levels at 1.0300 and 1.0400 would be the targets for this week.

 

GBPUSD

Dominant bias: Bearish

This market consolidated on Monday and Tuesday, to drop southward on Wednesday, according to forecast last week, in the context of a downtrend. The accumulation territory at 1.2400 has been tested again and again, but there is a considerable amount of opposition to the bearish movement, around the accumulation territory. Price would go below it this week, owing to the fact that the bias on GBPUSD (as well as some GBP pairs), remains bearish for this week and for the rest of this month. Price would still go downwards by a minimum of 300 pips before the end of this year.

 

USDJPY

Dominant bias: Bullish

According to last week analysis, this trading instrument went upwards 300 pips last week, after moving sideways on Monday and Tuesday. Since November 9, price has trended northwards more than 1700 pips; and the northward movement could continue this week. There is Bullish Confirmation Pattern in the market and the supply levels at 118.50 and 119.00 may be tested this week. As from now on, the movements on JPY pairs would be determined by strength of individual currency, not the weakness in Yen. This means USDJPY could rally further while GBPJPY could plummet.

 

EURJPY

Dominant bias: Bullish

There are going to be serious movements in the JPY markets this week (while next week would be quiet), and EURJPY would not be an exception. This is a bull market, and while there may be occasional pauses and consolidation along the way, there could be further bullish movement. However, the ongoing weakness in EUR could scuttle this expectation. As long as price does not cross the demand zone at 121.00 to the downside, the bullish bias would hold.

 

This forecast is concluded with the quote below:

 

“In order to taste success in the trading market, you'll need to develop really simple strategies. You're likely to take trading decisions in a more confident way, remain headstrong and gain more winning opportunities when you follow some really simple strategies.” - Sean Lee

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

This pair trended downwards on Monday and Tuesday, and then began to make some bullish attempt, all in the context of a downtrend. A strong movement is not anticipated this week (although it is a possibility), for the market may not do more than it did last week. No matter what happens, there is not going to be an end to the current bearish outlook this year. In fact, price may test the support lines at 1.0400 and 1.0350.

 

USDCHF

Dominant bias: Bullish

USDCH merely zigzagged throughout last week, with no directional movement. The overall bias is bullish, and thus, when momentum returns to the market, it may be in favor of the bias. Just like EURUSD, strong movement is not expected this week (but it can happen). There are resistance levels at 1.0300 and 1.0350. As long as price does to go below the psychological level at 1.0000, the outlook on the market would remain bullish.

 

GBPUSD

Dominant bias: Bearish

GBPUSD dropped 250 pips last week, giving more and more emphasis on current weakness in the market. Price closed below the distribution territory at 1.2300 on Friday, targeting the accumulation territories at 1.2250, 1.2200 and 1.2150. There are huge Bearish Confirmation Patterns in the daily and 4-hour charts, which make long trades illogical at the present. A very strong bearish movement may be witnessed on GBPUSD before the end of the year.

 

USDJPY

Dominant bias: Bullish

The market consolidated throughout last week. The major bias is bullish, and that is supposed to continue till the end of this year. There may be a rise in momentum, which may push price towards the supply levels at 117.50, 118.00, and 118.50. These supply levels were previously tested this month, and they could be tested again. Only a movement of about 200 pips to the south could threaten the current bias.

 

EURJPY

Dominant bias: Bullish

This currency instrument trended downwards on Monday and then moved sideways till the end of the week, closing at 122.515 on Friday. There would soon be a directional movement in the market, but right now, it is better to stay away until that happens (unless scalping is being done in the market). A movement below the demand zone at 120.50 would end the bullish bias, while a movement above the supply zones at 123.50 and 124.00 would strengthen it.

 

This forecast is concluded with the quote below:

 

“[in trading] I choose joy over disappointment and contentment rather than instant gratification.” - D. R. Barton, Jr.

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

EURUSD moved upwards by about 100 pips last week, now testing the resistance line at 1.0700. The upwards movement last week was not strong, but it was noticeable enough to show that the recent bullishness in the market remains a valid thing. This week, the resistance lines at 1.0750, 1.0800 and 1.0850, may be attained, as long as EUR continues to be stronger than USD in the near-term.

 

USDCHF

Dominant bias: Bearish

USDCHF went down lower and lower last week, continuing the bearish journey that started early this month. The great psychological level at 1.0000 was tested again and again, but price could not breach it to the downside (staying below it). Price has repeatedly bounced off the psychological level, but as the bias is bearish, upwards bounces would only provide good short-selling opportunities. As long as EURUSD goes up, USDCHF would go down, and the psychological level at 1.0000 would end up being breached.

 

GBPUSD

Dominant bias: Bearish

GBPUSD began the last week on a bearish note (other GBP pairs gapped down and then started trending upwards). Price moved up by more than 410 pips, reaching the distribution territory at 1.2400. However, the strong rally was not enough to overturn the recent bearish outlook on the market. For the bearish outlook to be overturned, price would need to go upwards by at least, another 300 pips this week; otherwise, the rally that happened can eventually turn out to be a temporary rally that later confirms bears’ supremacy.

 

USDJPY

Dominant bias: Bearish

This pair went downwards on Monday and Tuesday and then started to go upwards from Wednesday to Friday. There is still a Bearish Confirmation Pattern in the 4-hour chart. Unless price is able to stay above the supply level at 117.00 - which would require a serious rally - the bearish outlook would remain logical. There are demand levels at 114.00, 113.50 and 113.00, which may be tested again, in case price comes down.

 

EURJPY

Dominant bias: Neutral

This cross pair briefly ended its sideways movement when it assumed a southward journey on January 9. Price attempted to go further downwards last week, but further downwards movement was rejected before it reached the demand zone at 120.50. And since price has gone upwards on January 18 and 19, it has been forced back into a neutral region. This week, a serious northwards movement would bring about a “buy” signal; while a southward movement would simply bring back the recent “sell” signal in the market.

 

This forecast is concluded with the quote below:

 

 

“What I do believe, most of the time, are the numbers on the statement of my trading account. If they are getting bigger, then I am winning.” – Joe Ross

 

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

This pair went flat from Monday to Wednesday, not being able to stay above the resistance line at 1.0750. Price then declined a bit, in the context of an uptrend. Price has been going upward gradually since the beginning of this year, and this has led to a bullish bias, which would, however, be challenged in February. The downtrend may even start this week, as EUR is expected to become weak versus other currencies (except JPY) in February.

 

USDCHF

Dominant bias: Bearish

USDCHF went sideways throughout last week – slightly below the resistance level at 1.0000. Price may temporarily go above that resistance level, but it would later journey further south. Apart from the sideways movement that was seen last week, price has been coming down gradually since the beginning of this year, and this has led to a bearish bias on the market. The bearish bias should continue in the month of February, owing to expected stamina in CHF. A bearish journey in EURUSD may help bring about some transitory rallies on USDCHF, but the overall movement would be bearish in February.

 

GBPUSD

Dominant bias: Bullish

Cable rallied 280 pips last week, topping at the distribution territory of 1.2650, before the shallow retracement that started on Thursday. Since the low of January 16, price has moved upwards by 650 pips, but the bullish bias that has resulted from that may end soon, as a result of a bearish outlook on the Cable (and some other GBP pairs) in the month of February. While, price could test the distribution territories at 1.2700, 1.2750 and 1.2800, it might not be able to go very far, as chances of serious bearish movements are very high in February.

 

USDJPY

Dominant bias: Bearish

This trading instrument has been coming down gradually since early January, and that has led to a Bearish Confirmation Pattern in the market. On Thursday, price began to rise and later on Friday, it closed above the demand level at 115.00. Further movement may take price towards the supply levels at 116.00, 116.50 and 117.00; and that may end up invalidating the recent bearish bias. Generally, the outlook on USDJPY for February is bullish.

 

EURJPY

Dominant bias: Bullish

This cross pair is bullish in the short-term and neutral in the medium-term. Price managed to journey northward last week, creating a short-term bullish signal. In February, the only factor that would help this cross further upwards is the expected weakness in Yen (which would also help most other JPY pairs to rally). In February, an overall movement of at least, 500 pips, is expected in favor of bulls. Nonetheless, there may be some serious but shallow pullbacks along the way.

 

This forecast is concluded with the quote below:

 

 

“It's time to tap into your inner conquistador and become a winning trader.” – Trading Educators

 

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

The bias on this pair is currently bullish. Price managed to go upwards last week, reaching the resistance line at 1.0800, but not able to stay above it. Several failed attempts were made, to breach the resistance line to the upside, and the goal must be achieved to save the current bullish bias. A movement above the resistance line at 1.0800 would reinforce the bullish bias – and failure to do that would eventually bring about a large pullback in the market.

 

USDCHF

Dominant bias: Bearish

This market has been trudging south since the beginning of this year. From early January till now, price has gone down roughly 350 pips. As long as EURUSD goes north, USDCHF will continue to go south, for only a serious pullback on EURUSD can bring a meaningful rally on USDCHF. CHF is expected to become strong this month; plus the resistance level at 1.0000 would endeavor to impede rallies in the market. It would be difficult for a strong rally to take place.

 

GBPUSD

Dominant bias: Bullish

GBPUSD made attempt to go upwards last week, but further upwards movement was rejected at the distribution territory at 1.2700. From there, price got corrected by over 200 pips, to close above the accumulation territory at 1.2450 on Friday. An upward movement from here would save the recent bullish bias, while a downwards movement from here would render the bullish bias invalid. Generally, GBP pairs are supposed to trend seriously upwards this month.

 

USDJPY

Dominant bias: Bearish

The current bias on this currency trading instrument is bearish, because price has been trending downwards since the beginning of this year. Price has come down more than 500 pips since January, and it is approaching major demand levels. The demand levels at 112.00 and 111.00 could be tested on breached, temporarily. There is a strong possibility that JPY pairs would rally this week (most probably within Monday to Wednesday), and should that happen, USDJPY would rally seriously.

 

EURJPY

Dominant bias: Neutral

The bias on this cross pair is essentially neutral, though there are bearish signals in small timeframes. The neutral bias can be ended by the expected rally on JPY pairs, which would also carry this cross pair along. Price might temporarily reach the demand zones at 121.00, 120.50 and 120.00. On the other hand, a serious rally would push price upwards by a minimum of 200 pips this week.

 

This forecast is concluded with the quote below:

 

“Don't let another year go by where you aren't inspired to cash in on everything the markets have to offer.” – Louise Bedford

 

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

This pair trended downwards last week, going below the resistance line at 1.0650. The movement so far this month is essentially bearish and there is a possibility that further bearish movement would continue to hold out, as the support lines at 1.0600, 1.0550 and 1.0500 are targeted this week. There is a need for price to go above the resistance line at 1.0800 before the current outlook can be rendered invalid.

 

USDCHF

Dominant bias: Bearish

USDCHF is bearish in the medium-term, and bullish in the short-term. In the short-term, price has moved from the support level at 0.9900, towards the resistance level at 1.0050. This has already generated a short-term bullish signal, and a movement above another resistance level at 1.0150 would result in a Bullish Confirmation Pattern in the market. It is important to note that price has succeeded in breaching the great level at 1.0000 to the upside, making more bullish movement very likely.

 

GBPUSD

Dominant bias: Neutral

GBPUSD is currently in an equilibrium phase – having moved generally sideways last week (though price was volatile on February 7). While the market could remain in the equilibrium phase, there is going to be a serious breakout this week or next, which would most probably favor bears. The outlook on GBP pairs for this month remains bearish and heavy selling pressure could start anytime.

 

USDJPY

Dominant bias: Bearish

The bullish expectation for JPY pairs did not materialize last week, save a weak rally that was seen on Thursday. The bias on the market is still bearish, and price could attempt to test the demand levels at 112.50 and 112.00. On the other hand, the bullish expectation on JPY pairs are still in place: JPY pairs could assume strong rallies any day this week or next; with USDJPY being caught in a strong buying pressure.

 

EURJPY

Dominant bias: Bearish

From Monday to Wednesday, this cross pair went down 180 pips, testing the demand zone at 119.50. Price has been making some negligible bullish attempt since then, rallying by 170 pips and getting corrected lower on Friday. This kind of alternative but transient victories between the bull and the bear would continue until there is a protracted, directional movement, which is expected to be in favor of the bull. Short trades are may not be held onto for too long.

 

This forecast is concluded with the quote below:

 

“By the way, the absolute best trading opportunities these days are in Forex.” – Dr. Van K. Tharp

 

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

From Monday to Wednesday, this pair went downwards, moving below briefly below the support line at 1.0550. Price then rallied above the resistance line at 1.0650, before getting corrected lower on Friday. The outlook on the market is bearish, and further bearish movement is expected this week, as price targets the support lines at 1.0550 (which was tested last week), 1.0500 and 1.0450.

 

USDCHF

Dominant bias: Bearish

Oddly enough, the current outlook on USDCHF is bearish, just like the outlook on EURUSD. One of the reasons behind this is occasional bouts of stamina in CHF, which sometimes put checks on USDCHF bullish ambitions. The market level at 1.0000 has now become insignificant, since price just goes above and below it at will. For example, price went below it on February 16, only to go above it on February 17. Only a very strong bearish plunge on EURUSD would help push USDCHF upwards considerably.

 

GBPUSD

Dominant bias: Neutral

GBPUSD has been moving sideways for at least, two weeks. The market did nothing noteworthy last week. This directionless movement would soon end, and a strong momentum would rise, pushing price in a clear direction. A closer look at the market shows that bears’ hands are currently stronger than bulls’ hands, and following the ongoing impasse, price could plunge southwards. The outlook on GBP pairs remains bearish.

 

USDJPY

Dominant bias: Bearish

In the context of a downtrend, price moved upwards from February 9 – 15, and then began to pull back from that day. On February 17, price closed below the demand level at 113.000, leading to a Bearish Confirmation Pattern in the market. The targets for this week are the demand levels at 112.50, 112.00 and 111.50. This, however, does not rule out a possibility of a strong rally before the end of the month.

 

EURJPY

Dominant bias: Bearish

This cross is bearish in the long-term and neutral in the short-term. The market consolidated from Monday to Friday and then started moving downwards as it plunged by over 120 pips that day. This is in agreement with the southward movement that was started in the beginning of this month; plus further southward movement is possible. On the other hand, a possibility of a serious rally still remains… on JPY pairs.

 

This forecast is concluded with the quote below:

 

“For some traders, commitment to success is not optional but mandatory.” – Joe Ross

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

This pair went south last week, testing the support line at 1.0500, and then bouncing upwards on Thursday and Friday. The upwards bounce would turn out to be a good selling opportunity because price is expected to trend further downwards this week, reaching the support line at 1.0500 again and breaking it to the downside. The outlook on EURUSD (as well as other EUR pairs) is strongly bearish for this week and the month of March.

 

USDCHF

Dominant bias: Bullish

There is a weak bullish signal on USDCHF. The signal is weak because price has moved upwards only by about 200 pips in the whole of February. There was an upwards movement last week, which pushed price briefly above the resistance level at 1.0100, before the correction that was witnessed in the last two trading days of the week. There is still a tendency for price to continue going upwards, as long as EURUSD journeys southwards.

 

GBPUSD

Dominant bias: Neutral

For at least, three weeks, Cable has been moving sideways, hence the neutral bias on the market. Price has only oscillated between the accumulation territory at 1.2350 and the distribution territory at 1.2600. There is a need for price to go above that distribution territory, staying above it; or below that accumulation territory, staying below it, before the neutral bias can be considered as being over. Until this happens, the bias would remain neutral. There is a possibility that GBP pairs would go considerably bearish in March, though they would make some attempt to rally around the end of that month.

 

USDJPY

Dominant bias: Neutral

This trading instrument is neutral in the medium-term and bearish in the short-term. Price consolidated last week, and then trended downwards on Thursday and Friday. This is an action that has led to a Bearish Confirmation Pattern in the short-term, which may enable price to reach the demand levels at 111.50 and 111.000. This does not rule out a possibility of a rally, since some serious bullish effort is expected on most JPY pairs in March.

 

EURJPY

Dominant bias: Bearish

There is a strong bearish signal on this cross, which has moved downwards by 350 pips so far this month. The market went southwards 150 pips this week, closing below the supply zone at 118.50. The demand zones at 118.00 and 117.50 could also be tested this week. On the other hand, a serious weakness in Yen may cause price to jump upwards, which is something that would possibly happen in the March.

 

This forecast is concluded with the quote below:

 

“A good plan will include a well-tested strategy, a trading method, or a setup. Having a positive expectation should allow you to have the confidence to start trading your plan.” – Andy Jordan

 

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

EURUSD went downwards last week, tested the support line at 1.0500, and then rallied significantly on Friday. Actually, the Friday rally might end up being a good opportunity to sell short at better prices (unless the resistance line at 1.0700 is breached to the upside, which would result in bullish signal). This week, price could test the support lines at 1.0450, 1.0400 and 1.0350; for the outlook on EURUSD is bearish.

 

USDCHF

Dominant bias: Bullish

There is still a weak bullish outlook on this pair, though it is currently showing some weakness. Price is now above the support level at 1.0050, and as long as EURUSD continues going downwards, USDCH would continue trudging upwards, possibly reaching the resistance levels at 1.0100 (which was actually tested and breached temporarily last week), 1.0150 and 1.0200. On the other hand, a movement below the support level at 1.0000 would result in a bearish outlook.

 

GBPUSD

Dominant bias: Bearish

GBPUSD dropped 200 pips last week, briefly moving below the accumulation territory at 1.2250, before bouncing upwards from there. The upward bounce is something that is supposed to be transitory, for the outlook on the market is bearish for this week. The targets to be possibly reached are located at the accumulation territories at 1.2250, 1.2200 and 1.2150. Some other GBP pairs like GBPNZD and GBPAUD might also be seen going bearish this week.

 

USDJPY

Dominant bias: Bullish

There is a bullish bias on this trading instrument, but this is nothing yet over-the-top. Price went upwards from the demand level at 112.00, reaching the supply level at 114.50 (a northwards movement of 250 pips). Since there is some kind of weakness in JPY, it is possible that the supply levels at 115.00, 115.50 and 116.00 would be attained this week. Should that happen, the bullish bias would simply become stronger.

 

EURJPY

Dominant bias: Bullish

This cross went north by 270 pips last week. Price rose from the demand zone at 118.50, and closing above the demand zone at 121.00 on March 3. There is a strong Bullish Confirmation Pattern in the market. Since the outlook on JPY pairs is bullish for this week, it is anticipated that this EURJPY would continue going upwards, reaching the supply zones at 121.50, 122.00 and 122.50 before the end of this week.

 

This forecast is concluded with the quote below:

 

“Traders, by their very nature, are optimistic risk takers. We believe we can make money. We say ‘Yes’ to risk. We say ‘Yes’ to learning about how to trade effectively. We say ‘Yes’ to a brighter future for ourselves and our family.” – Louise Bedford

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

This pair trended downwards from Monday to Thursday and then rallied significantly. This has resulted in a bullish bias on the market, as price nearly reached the resistance line at 1.0700. This week, further rally is anticipated because the outlook on Greenback is bearish for the week: a factor that may be favorable to EURUSD. The first target for the week is the resistance line at 1.0700, and then followed by the resistance lines at 1.0750 and 1.0800.

 

USDCHF

Dominant bias: Bullish

There is still a weak bullish outlook on this pair, though it is currently showing some weakness. As long as EURUSD goes upwards, USDCHF would find it very difficult to go upwards. Price was corrected lower on Friday, and since USD is expected to be weak this week, the support levels at 1.0050 and 1.0000 could be tested. Attempts to breach the resistance level at 1.0150 has already failed and that resistance level would serve as a strong barrier to any bullish effort this week.

 

GBPUSD

Dominant bias: Bearish

GBPUSD went south by 140 pips last week. Price has trended downwards by 310 pips since February 27, 2017, resulting in a clear Bearish Confirmation Pattern in the market. There is now a bearish siege at the accumulation territory of 1.2150, which has been battered without any success. While GBP could fall further versus other currencies like CHF, AUD and NZD, it may not fall further versus USD, since USD may experience some weakness this week, coupled with strong obstacles at the accumulation territories of 1.1250 and 1.1200. There is a logical expectation of some rally in GBPUSD.

 

USDJPY

Dominant bias: Bullish

The market managed to go upwards last week after moving sideways in the first few trading days of the week. The bias is bullish, though not a strong one. Price closed below the supply level at 115.00 on March 10, and it might make effort to go upwards from there. This week, the outlook on JPY pairs is bullish, but the expected weakness in USD might scuttle bullish effort in the market. There are supply levels at 116.00, 115.50 and 115.00. There are also demand levels at 114.50, 114.00 and 113.50.

 

EURJPY

Dominant bias: Bullish

Just like USDJPY, this cross pair moved sideways in the first few days of the last trading week, and then broke upwards in agreement with the recent bullish outlook on the market. From the weekly low of 120.01, price went north by 280 pips, and closed at 122.51 on Friday. There is a Bullish Confirmation Pattern in the market, and since the outlook on JPY pairs is bullish for this week, further movement is expected on EURJPY (a movement of at least, 200 pips). EUR is currently strong in its own right and this is a factor that could help the cross pair upwards.

 

This forecast is concluded with the quote below:

 

“Trading is a business.” – Joe Ross

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

This pair trended downwards on March 13 and 14, testing the support line at 1.0600. From the support line, price rose by 180 pips, going briefly above the resistance line at 1.0750 and then closing below it on Friday. The bullish signal is still in place, and further rise in price may be witnessed this week, which would enable price to go above the resistance line at 1.0750 again. However, it is also possible that EURUSD would trend downwards before the end of this week.

 

 

USDCHF

Dominant bias: Bearish

As it was forecast last week, the weakness in greenback has caused USD/CHF to fall (as well as the bullishness of EURUSD). Price consolidated from Monday to Wednesday, and later plummeted on that day, to form a strong Bearish Confirmation Pattern in the market. The support level at 0.9950 has already been tested. As long as EURUSD is going up, USDCHF would be going down. On the other hand, whenever EURUSD showcases conspicuous weakness, USDCHF would rally seriously (something that may happen this week or next).

 

GBPUSD

Dominant bias: Bullish

The main reason why Cable was able to rally last week was because USD became week. Before that, bears had met some impediment at the accumulation territory of 1.2150; a territory from which price rose 250 pips to test the distribution territory at 1.2400. There is already a bullish outlook on the market – which would continue to hold out as long as USD is weak enough to allow further rally. Any show of strength in USD would send Cable tumbling.

 

USDJPY

Dominant bias: Bearish

In the last weekly forecast, it was mentioned that any show of weakness in USD would render bullish effort invalid in this market. That was exactly what happened: From the beginning of the week till March 15, price was consolidating. However, price began to trend downwards as USD became weak. There was an overall bearish movement of almost 250 pips last week, between the supply level at 115.00 and the demand level at 112.50. This week, further downwards movement is possible, but not without a possibility of a rally this week or next.

 

EURJPY

Dominant bias: Neutral

Last week, this cross moved slightly southward by some 150 pips. This contrasted with the recent bullish bias, thus creating a short-term neutral bias on the cross. On Friday, the cross closed around the demand zone at 121.00. Further southward effort may bring price towards another demand zones at 120.50 and 120.00. But it should be noted that the outlook on JPY pairs is bullish, and they would rally before the end of March 2017, especially when JPY itself becomes weak.

 

This forecast is concluded with the quote below:

 

“Isn't it time you took control of your own trading? Somewhere inside you there is a brilliant trader wanting to come out.” – Louise Bedford

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

EURUSD managed to hold out its bullishness last week, in spite of the current short-tern consolidation in the market. Price reached the resistance line at 1.0800 and moved sideways till Friday. Many unsuccessful attempts were made to overcome the resistance line at 1.0800, but price could not stay above it. This week, that resistance line could possibly be overcome as another resistance line at 1.0800 is possibly targeted. However, there is also a strong possibility of weakness in the market; unless USD continues to be weak versus EUR.

 

USDCHF

Dominant bias: Bearish

Price dropped 70 pips last week, testing the support level at 0.9900. Attempts to breach that support level have not been successful, but that could happen this week, as selling pressure continues in the market. Since price has already gone below the psychological level at 1.0000, it would not be easy for it to go above that level again. There are potential targets at the support levels of 0.9850 and 0.9800 this week, which could be reached as long as USDCHF continues its weakness.

 

GBPUSD

Dominant bias: Bullish

GBPUSD went upwards last week, reaching the distribution territory at 1.2500; and then consolidating till the end of the week. There is a strong Bullish Confirmation Pattern in the market, and the outlook on GBP pairs continues to be bullish, and further bullish movement is expected on GBPUSD this week. The pair would go upwards by a minimum of 150 pips, testing the distribution territories at 1.2550, 1.2600 and 1.2650.

.

USDJPY

Dominant bias: Bearish

This pair dropped 160 pips last week. Since March 10, price has dropped 430 pips, leading to a strong bearish bias on the market, which would continue as long as USDJPY is weak. The demand level at 111.00 was tested several times last week, but price managed to close above it. This week, further southwards movement would happen, once the demand level at 111.00 is breached to the downside. However, there is an indication of probable rallies on JPY pairs before the end of the month, which would also affect USDJPY.

 

EURJPY

Dominant bias: Bearish

Last week, there was some downwards movement on this cross, which dropped 180 pips to test the demand zone at 119.50. Since March 13, price has dropped 310 pips. There is currently a “sell” signal in the market, which may enable the demand zones at 119.00 and 118.50 to be reached. On the other hand, there could be a rally in the market before the end of the month. This is also expected on other JPY pairs.

 

This forecast is concluded with the quote below:

 

“It is critical to develop a well thought out and organized trading plan. It is then important to have the discipline needed to follow it… Trading should bring fulfillment of your business and personal goals.” – Andy Jordan

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

This pair went upwards early last week, tested the resistance line at 1.0900 and then nosedived by almost 250 pips. Price is now very close to the support line at 1.0650, which would be breached to the downside as price goes towards another support lines at 1.0600 and 1.0550. The outlook on EURUSD, as well as other EUR pairs, is mostly bearish for this week and for this month; though there would be some visible rally attempts in the market.

 

USDCHF

Dominant bias: Bearish

USDCHF went upwards last week. Price first moved briefly below the support level at 0.9850 and then rose upwards for the rest of the week, closing above the support level at 1.0000. A movement above the resistance level at 1.0050 would pose a threat to the recent bearish bias; while a movement above the resistance level at 1.0100 would result in a bullish bias. This week and this month, the movements on USDCHF would be largely determined by whatever happens to EURUSD.

 

GBPUSD

Dominant bias: Bullish

GBPUSD first moved upwards last week, testing the distribution territory at 1.2600 and then went south, reaching the accumulation territory at 1.2400. Price made several futile attempts to breach that accumulation territory, and later rose up towards the distribution 1.2550. The distribution territories at 1.2600 and 1.2650 could be tested this week, as the market goes further upwards. There would be very strong bearish and bullish movements on GBPUSD this month (which is true of other GBP pairs).

 

USDJPY

Dominant bias: Bearish

USDJPY went upwards throughout last week, but that was not significant enough to override the current bearish bias. Price reached the supply level at 112.00 and later closed below the supply level at 111.50. There was an expectation of a very strong bullish movement last week: The market did move upwards but it was only a movement of roughly 170 pips. Price may move further upwards, but that movement would not be strong. The outlook on JPY pairs is bearish for April 2017.

 

EURJPY

Dominant bias: Bearish

The market consolidated for most of last week, in the context of a downtrend. The consolidation started on March 22 and ended on March 31, when price broke southwards, closing below the supply zone at 119.00. There are immediate targets at the demand zones of 118.50 and 118.00, but the targets may be exceeded. The outlook on JPY pairs is bearish for the month of April, and as EUR becomes weaker in itself, the market would continue to journey southwards.

 

This forecast is concluded with the quote below:

 

“A trading strategy is defined by a set of rules. It is following these rules that give the system it’s ‘edge’ over a period of time. This edge produces a result that is better than random, and most importantly produces a profit.” - Jasper Lawler

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

In the context of a downtrend, this pair moved sideways from Monday till Friday, trending south on Friday. Price closed below the resistance line at 1.0600, going towards the support lines at 1.0550. Rallies in the market are supposed to be temporary in most cases. There remains a bearish Confirmation Pattern in the market, and there are additional bearish targets at the support lines at 1.0500 and 1.0450.

 

USDCHF

Dominant bias: Bullish

USDCHF consolidated in the first few days of last week and then trudged northwards. Price moved upwards 80 pips last week (having gone upwards by 270 pips since March 27). The support levels at 1.0050 and 1.0000 might try to impede short-term pullbacks as price noses towards the resistance levels at 1.0100 and 1.0150 this week. There cannot be a change in the trend unless EURUSD trends upwards significantly.

 

GBPUSD

Dominant bias: Neutral

The market did not make any directional movement last week, save a shallow bearish movement that was seen on April 7. The market would remain in this newly established equilibrium phase as long as it moves between the accumulation territory at 1.2300 and the distribution territory at 1.2600. A movement above the aforementioned distribution territory or below the accumulation territory would mean a beginning of another bias on the market. However, the most likely movement is towards the north. It is borne in mind that the outlook on GBP pairs is strong bullish for this week – so a bullish breakout may be witnessed on this market before the end of the week.

USDJPY

Dominant bias: Bearish

This trading instrument also consolidated throughout last week, neither moving above the supply level at 111.50 nor moving below the demand level at 110.00. The bias on the market is bearish; plus the outlook on JPY pairs remains bearish for this week and this month. Therefore, when momentum rises in the market, it would most possibly be in favor of bears. Most probably, price would move further downwards once the demand level at 110.00 is breached to the downside.

 

EURJPY

Dominant bias: Bearish

EURJPY dropped 110 pips last week, testing the demand zone at 117.50 (which was tested several times, though without success). Since March 13, price has dropped roughly 500 pips, and more decline is anticipated this week. One factor aiding the bearishness in this market is the weakness in EUR itself. Once the demand zone at 117.50 is breached to the downside, price could make effort to reach other demand zones at 117.00, 116.50 and 116.00 this week.

 

This forecast is concluded with the quote below:

 

“At the moment I am able to live from my trading income and I hope I can do this for the longer term.” - Matthias Knopf

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

EURUSD consolidated from Monday to Friday, save a faint rally that was witnessed on Wednesday. The bearish bias on the pair still holds, though another week-long consolidation would lead it into a neutral zone. This week, attempts would be made to push price upwards, and that would be something that cannot override the current bearish bias unless price goes above the resistance line at 1.0800. Until that resistance line is broken to the upside, any rallies seen here should be taken as good “sell” signals.

 

USDCHF

Dominant bias: Bullish

Just like EURUSD, USDCHF consolidated last week, in a context of an uptrend (albeit some shallow bearish correction has been witnessed on smaller time horizons). Price has been able to stay above the support level of 1.0000; for a movement below that support level would result in a bearish bias. Price could reach the resistance levels at 1.0100 and 1.0150 within the next several trading days. This week, the movement on USDCHF is subject to whatever happens to EURUSD.

 

GBPUSD

Dominant bias: Bullish

Cable went up by 190 pips, testing the distribution territory at 1.2550, before a shallow correction that was witnessed at the end of last week. The outlook on Cable remains bullish (and some bullishness would be detected on GBP pairs as well). The distribution territory at 1.2550 would be tested again and most probably, breached to the upside, as price then goes on towards other distribution territories at 1.2600, 1.2650 and 1.2700.

 

USDJPY

Dominant bias: Bearish

As it was predicted, USDJPY went south by nearly 290 pips last week, thus ending the flat movement that happened in the market between April 3 and April 7. There is a clean Bearish Confirmation Pattern in the market and the outlook on it remains bearish for this week and this month (an outlook that is also true of other JPY pairs). This week, bears would make attempt to push price below the demand levels at 108.50, 108.00 and 107.50.

 

EURJPY

Dominant bias: Bearish

Our bearish targets for this market were exceeded last week, since price closed below the supply zone at 115.50., now aiming at the demand zone at 115.00. Price dropped 270 pips last week – having dropped roughly 730 pips since March 13, 2017. Further and further bearish movement is envisaged as price goes towards the demand zones at 115.00, 114.50 and 114.00. These are initial targets for the next several trading days, as they could be exceeded. Temporary bullish attempts could also be witnessed this week.

 

This forecast is concluded with the quote below:

 

“It feels good when I look at returns of big hedge funds, and see that I beat many of them almost every year.” - Roland Manuhutu

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

This pair trended upwards last week, briefly went above the resistance line at 1.0750, and then retraced southwards. There are support lines at 0.0700 and 0.0650, which may attempt to impede any bearish attempts this week. The bearishness in the market still holds, until price goes above the resistance line at 1.0800, which is supposed to happen this week. The outlook on EURUSD and other EUR pairs, is bullish for this week.

 

USDCHF

Dominant bias: Neutral

This month, USDCHF has generally moved between the support level at 0.9900 and the resistance level at 1.0100, having brought about a neutral bias on the market. Movements above the level at 1.0000 would cause short-term bullish signals, and movements below the level would cause short-term bearish signals, while the long-term bias remain neutral. Price is expected to go south this week, reaching the support level at 0.9900. Protracted selling pressure would be needed to break that support level to the downside.

 

GBPUSD

Dominant bias: Bullish

As is was anticipated, GBPUSD went significantly upwards last week; and so were other GBP pairs (EURGBP went south). Price skyrocketed by 370 pips, reaching the distribution territory 1.2900. Price has moved sideways since then – in what could be called a pause in the northward journey. This week, the outlook on GBPUSD, as well as other GBP pairs, remains bullish. So, when momentum returns to the market, it would most probably favor bulls. Price may target the distribution territories at 1.2850, 1.2900 and 1.2950 this week.

 

USDJPY

Dominant bias: Bearish

This trading instrument consolidated throughout last week, in a context of a downtrend. A movement above the supply level at 111.00 would result in a bullish signal, as the current bearish bias is overridden. A movement below the demand level at 108.00 would result in a clear Bearish Confirmation Pattern in the market, as price goes further south. The outlook on USD/JPY is bearish for this week. Therefore, southward a southward movement is more likely.

 

EURJPY

Dominant bias: Bearish

This cross pair made effort to go up last week, rising from the demand zone at 115.00, and reaching the supply zone at 117.50 (a movement of 250 pips). The bullish effort was not strong enough to override the extant bearish outlook on the market. Price was engaged in some bearish correction on Friday; plus the last week rise in price may turn out to be a good opportunity to sell short at better prices. The outlook on other JPY pairs is also bearish for this week.

 

This forecast is concluded with the quote below:

 

“If we have trained properly, if we understand our planning, if we have done our preparation, our system execution should be a matter of routine.” – Ken Long

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

Last week, this pair opened with a massive gap-up, which also happened on other EUR pairs. Price managed to reach the resistance line at 1.0950, and then consolidated till the end of the week. The gap-up has forced a bullish bias to appear, but this may not last long because EURUSD are expected to become weak this week. While there are resistance lines at 1.1000 and 1.1050, the support lines at 1.0900, 1.0850 and 1.0800 could be tested this week.

 

USDCHF

Dominant bias: Bearish

USDCHF is in a short-term bearish mode, and price consolidated last week in the context of that short-term bearish mode. Within the last several days, price has not been able to move above the resistance level at 1.0000 or below the support level at 0.9900. A movement above the resistance levels at 1.0000 and 1.0100 would result in a Bullish Confirmation Pattern, while a movement below the support levels at 0.9900 and 0.9800 would reinforce the existing bearishness in the market.

 

GBPUSD

Dominant bias: Bullish

Last week, price consolidated from April 24 to 26 and then resumed its upwards journey, which was started on April 10 (although the most significant bullish movement occurred on April 18). The distribution territory at 1.2950 was tested on Friday before the market closed. Since April 10, price has gone upwards by 570 pips, and this is just the beginning, because there is a strong Bullish Confirmation Pattern in the market, and because the outlook on GBP pairs is also bullish for May. There may be some bearish attempts, but the bullish bias might survive till the end of May.

 

USDJPY

Dominant bias: Bullish

USDJPY also opened with gap-ups at the beginning of last week, just as other JPY pairs did. The gap-up forced a bullish signal to form as price went further upwards, testing the supply level at 111.50. The bullish bias might hold for a few more days, (reaching the supply levels at 112.00, 112.50 and 113.00 at most), but the outlook on USDJPY is bearish for this week and this month. A major pullback would eventually happen.

 

EURJPY

Dominant bias: Bullish

Last week, the market opened with an upward gaps, which was not filled because price even went further upwards on Tuesday, almost testing the supply zone at 122.00 and consolidating till the end of the week. This cross might go upward a bit further; though there is a high probability of strong selling pressures occurring this week and this month, which would override the current bullish signal. The outlook on JPY pairs is seriously bearish for May.

 

This forecast is concluded with the quote below:

 

 

“Today, I am a full-time active private trader and I am thankful that trading has eliminated the need for me to re-enter the corporate world. I’m also a full-time Mum to two fabulous kids who are benefiting from the time I’m now able to spend with them every single day… Really, this is a profession you can enter regardless of your educational background.” – Louise Bedford

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

This pair went sideways from Monday to Wednesday, and then started rising upwards on Thursday, in the context of an uptrend. Price is now very close to the resistance line at 1.1000. This week, it is possible for the market, and other EUR pairs, to open with gaps, owing to the events surrounding French presidential election. Should gaps occur, they would be followed by high volatility and strong movements. While the resistance lines at 1.1000, 1.1050 and 1.1100 could be tested, chances of considerable pullbacks within the next several days are increasing.

 

USDCHF

Dominant bias: Bearish

USDCHF went lower last week, moving between the resistance level at 0.9950 and the support level at 0.9850. The bias is bearish, and price could go lower as long as EURUSD goes upwards. Eventually, USD would manage to gain some strength, either before the end of the week or at the beginning of next week, which would reverse the movement of USDCHF (as EURUSD is weakened). There must be a movement above the resistance level at 1.0000 in order for the current bearish bias to be threatened.

 

GBPUSD

Dominant bias: Bullish

In the context of an uptrend, Cable consolidated from the beginning of last week, till Wednesday, and then trended further upwards on Thursday and Friday. Price closed above the accumulation territory at 1.2951, going towards the distribution territory at 1.3000. Once that distribution territory is breached to the upside, other distribution territories at 1.3050 and 1.3100 would become next targets, because the outlook on the market remains bullish for this week.

 

USDJPY

Dominant bias: Bullish

USDJPY went upwards by more than 140 pips last week. Since April 24, price has gained more than 300 pips, which has resulted in a clean Bullish Confirmation Pattern in the market. The supply level at 113.00 has been tested and it would be re-tested, as price goes above it, targeting another supply level at 113.50 and 114.00. In May, JPY pairs could turn bearish, and that happens, the current bullishness in the market would be gotten rid of.

 

EURJPY

Dominant bias: Bullish

Last week, this cross moved upwards by 250 pips. Price has gained 500 pips since April 24; plus the supply zone at 124.00 is currently under siege. Once the supply zone is breached to the upside, price would go towards the supply zones at 124.50, 125.00 and 125.50. There would be temporary pullbacks along the way, which should not overturn the current bullish bias, unless the pullback makes price lose at least, 300 pips.

 

This forecast is concluded with the quote below:

 

“I trained myself to think of trading as an endeavor in which I strive to make points. Only later are those points translated to dollars. In that sense, for me trading is making point.” – Joe Ross

 

Source: http://www.tallinex.com

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

This pair is bullish in the medium-term, but neutral in the short-term. Price tested the support line at 1.0850, closing above the support line at 1.0900 on Friday. A movement above the resistance line at 1.1000 would strengthen the existing bullish bias, while a movement below the support line 1.0700 would threaten it. This week, further pullback is possible, but EURUSD would not go really bearish until the support line at 1.0700 is breached to the downside.

 

USDCHF

Dominant bias: Neutral

USDCHF moved upwards by 230 pips last week, almost testing the resistance level at 1.0100, and then pulled back towards the support level at 1.0000. The upwards movement of the first few days of last week has overridden the last short-term bearish signal, and the pullback that was seen on Friday has scuttled the bullish effort of last week. Both the bull and the bear would not gain upper hand until price goes seriously out of balance. A protracted movement is needed to form a directional outlook.

 

GBPUSD

Dominant bias: Bullish

The outlook on the Cable remains bullish, though price consolidated throughout last week. Further consolidation could result in a neutral outlook. The accumulation territory at 1.2850 has been tested and it may be breached to the downside. The current price action shows more and more noticeable weakness in the bullish trend, thereby increasing chances of a large pullback this week, especially when the accumulation territories at 1.2850 and 1.2800 are breached to the downside.

 

USDJPY

Dominant bias: Bullish

This trading instrument initially went upwards last week, briefly going above the demand level at 114.00. Price got corrected lower by 80 pips on Thursday and Friday. The bias on the market is bullish, and it would remain so as long as price does not go below the demand level at 112.00. There is a possibility that the supply levels at 113.50, 114.00 and 114.50 would be targeted this week.

 

EURJPY

Dominant bias: Bullish

EURJPY went sideways last week, in the context of an uptrend. There was a movement between the demand zone at 123.00 and the supply zone at 124.50. A rise in momentum is anticipated this week, which would emphasize the current Bullish Confirmation Pattern in the market, especially when the supply zone at 125.00 is overcome. The bullish bias would be jeopardized when price goes below the demand zone at 122.00.

 

This forecast is concluded with the quote below:

 

“I’ve always believed that on every trader's journey, emotions are nice companions but lousy guides…This phrase is meant to remind us that life would be pretty darned boring if we never experienced any emotions. But more importantly in trading, decisions made when we are in a non-productive emotional state will likely produce results we don’t like. That’s where a great trading system comes to the rescue. It gives us a framework to calmly and coolly evaluate situations and make the right moves…” - D.R. Barton, Jr.

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

This pair went upwards by 290 pips last week, putting greater emphasis on the recent bullish bias that has formed this month. Price closed slightly above the support line at 1.1200 on Friday. The bullish momentum is currently strong, and the resistance lines at 1.1250, 1.1300 and 1.1350 may be tested this week. This however, does not rule out possibilities of pullbacks in the market, because EUR would rise against some currencies while falling against others.

 

USDCHF

Dominant bias: Bearish

USDCHF plummeted last week, losing 280 pips and closing below the resistance level at 0.9750. Price has fallen by 340 pips since May 12, and further fall is expected this week. The support levels at 0.9700, 0.9650 and 0.9600, may be tested this week, owing to the Bearish Confirmation Pattern in the market. USDCHF would continue to trend southwards as long as EURUSD journeys northwards.

 

GBPUSD

Dominant bias: Bullish

GBPUSD was able to maintain its bullishness last week. The market closed above the accumulation territory at 1.3000 on Friday, going towards the distribution territory at 1.3050 (which may be tested or even breached to the upside). On the other hand, there is also a possibility of a deep bearish correction this week, because bearish movements may occur on certain GBP pairs, and the ripple effect may affect GBPUSD.

 

USDJPY

Dominant bias: Bearish

The market went bearish last week, thus invalidating the bullish signal that was formed earlier this month, and creating a new short-term bearish signal. Price has dropped roughly 290 pips last week, slashed the demand level at 110.50, and closed above the demand level at 111.00. The demand levels at 110.00 and 109.50 may try to reject any meaningful bearish movement, for the outlook on JPY pairs is bullish for this week. Some form of reversal may be witnessed in the market.

 

 

EURJPY

Dominant bias: Bullish

This cross pair is still bullish, while being volatile in the long-term. Price has formed a zigzag pattern in the market: It went up on Monday and Tuesday, came down on Wednesday and Thursday, and then went upwards again on Friday. The present “buy” signal can push price towards the supply zones at 125.50, 126.00 and 127.50. These targets might even be exceeded, especially given the expected bullish movements on JPY pairs.

 

This forecast is concluded with the quote below:

 

“New and creative trading ideas are important for a trader to be able to stay ahead of the crowd, so doing whatever you can to prepare your mind to consider new ideas will help to develop creative trading strategies that are essential to profitable trading.” – Joes Ross

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

This pair consolidated last week, moving between the resistance line at 1.1250 and the support line at 1.1150. The resistance line at 1.1250 was tested several times, but it could not be broken to the upside, owing to the ongoing consolidation. A breakout is anticipated before the end of the week, which would most probably favor bulls as the resistance line at 1.1250 is broken to the upside, but the outlook on the market is bearish for June 2017. It should be noted that certain EUR pairs may not go bearish in June.

 

USDCHF

Dominant bias: Bearish

This pair went sideways last week, in the context of a downtrend. Price oscillated between the support level at 0.9700 and the resistance level at 0.9800. The support level at 0.9700 was tested several times and it could not be breached to the downside – and that is exactly what would happen this week – a breakout to the downside. This week, the Greenback would be weak while the Swissie would be strong: Hence further bearish movement in the market as the support level at 0.9700 is broken to the downside. This trend would reverse when EURUSD plummets in June.

 

GBPUSD

Dominant bias: Bullish

GBPUSD is bullish in the long-term, but bearish in the short-term. The market was caught in an equilibrium phase from Monday to Wednesday, and then went southward on Thursday and Friday, dropping 200 pips from the distribution territory at 1.3000 to the accumulation territory at 1.2800 (a well-anticipated occurrence). The outlook on GBP pairs is bearish for this week and for the month of June. Markets would generally be quiet in June, but GBP pairs would trend seriously, going bearish in most cases.

 

USDJPY

Dominant bias: Neutral

The market is neutral in the long-term, but bearish in the short-term. There was no significant movement last week, but things could become significant before the end of this week. The demand level at 111.00 was tested many times last week, and without success. The most probable movement is southwards, as the demand levels at 111.00, 110.50 and 110.00 are breached to the downside.

 

EURJPY

Dominant bias: Bullish

There was no significant movement on EURJPY last week, save price went slightly bearish on Friday, in the context of an uptrend. The markets would generally be quiet in June 2017, while JPY pairs trend seriously nonetheless (just like GBP pairs). The outlook on JPY pairs is bearish for June; plus the most probable direction is southwards. EUR/JPY would go downwards by at least, 300 pips within the next two weeks, and that would lead to the end of the current bullish bias.

Share this post


Link to post
Share on other sites

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

This pair consolidated in the first few days of last week, and then went slightly upwards. On Friday, price closed above the support line at 1.1250, targeting the resistance line at 1.1300. The outlook on EUR pairs, however, is bearish for this week, which means that EURUSD could experience a serious pullback before the end of the week. Before that happens, price would continue making some visible bullish effort.

 

USDCHF

Dominant bias: Bearish

USDCHF went bearish last week, losing at least, 110 pips. The market has lost 460 pips since May 11, and that has caused a Bearish Confirmation Pattern to form in the chart. On June 2, price closed below the resistance level at 0.9650, going towards the support level at 0.9600, which is the first target for the week. The second target is the support level at 0.9550. The market is expected to continue going further and further southward, until EURUSD would experience a clear pullback, something that would cause USDCHF to spring upwards.

 

GBPUSD

Dominant bias: Bullish

GBPUSD is bullish in the long-term, but neutral in the short-term. In the short-term, price simply fluctuated without taking a specific direction. The situation may change this week as price goes above the distribution territory at 1.3050 to continue the long-term bullish bias; or goes below the accumulation territory at 1.2700, to form a new bearish bias. Price must thus go above the aforementioned distribution territory (1.3050) or accumulation territory (1.2700) before a directional bias can occur.

 

USDJPY

Dominant bias: Bearish

There is a bearish signal on this currency trading instrument, and price may continue going downwards to test demand levels at 110.00, 109.50 and 109.00. Price went sideways last week, but became conspicuously bearish on Friday. Rally attempts may happen along the way, but they are expected to be transient (not being able to form a bullish bias on the market), because the general outlook on this trading instrument, as well as other JPY pairs, is bearish for June.

 

EURJPY

Dominant bias: Bullish

The EUR/JPY cross is bullish in the long-term, and neutral in the short-term. Price generally went upwards in May; though it is yet to do anything noteworthy this month. The demand zone at 123.50 was tested last week before price went upwards by 180 pips, going above the demand zone at 125.00 briefly and then closing below it on Friday. As long as EUR is strong in itself, this cross would maintain some form of bullishness; otherwise it would eventually tumble.

 

This forecast is concluded with the quote below:

 

“If you haven’t already experienced sideways market types for yourself, you will soon discover that they occur a lot more frequently and go for longer periods of time than most new traders realize. If you know how to trade in sideways conditions, you will find plenty of opportunity and you’ll also dramatically boost your chances for long term trading success.” – Dr. Van Tharp

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date : 12th December 2019. Lagarde prepares ECB debut – 12th December 2019.   Policy unchanged Projections unlikely to change much Clues about review sought Style in focus Presiding over her first presser of the European Central Bank today, Lagarde is expected to confirm once again the current policy setting, giving time to ECB to focus on the planned review of its overall policy framework.Final Eurozone GDP and PMI readings broadly supported this neutral picture, while the confidence that a deep recession can be avoided is strengthening (Figure 1) despite the fact that German manufacturing and production numbers still look weak. The exports and the overall trade are actually holding up much better than expected, which together with still strong labour markets is underpinning hopes the net exports and consumption will continue to support growth not just in Germany.Figure 1 : December German ZEW investor confidence outcome, end the year firmly in positive territory at the highest level since February 2018.As there is nothing in the data really to challenge the ECB’s overall policy stance, the focus firstly turns into the tone and presentation style that President Lagarde will have. The “risk” is that the presser will be equally uneventful as her testimony before the European Parliament. Lagarde’s team building exercise seems to have worked and at least in public there has been a pretty consistent message since she took over, which is very likely to be confirmed today. Additionally it will be interesting to see whether she will back fully Draghi’s package.Citi Bank: All key interest rates will likely be left unchanged, and the forward guidance reaffirmed. The main interest at this meeting will be the new Eurosystem staff projections, extended to 2022, to gauge whether the September package will be sufficient to bring inflation back into line with the ECB’s target over the forecast horizon. If not, investors’ attention will quickly turn to the ECB’s toolbox and what instruments the Governing Council would be willing to use and when, in order to defend its credibility in the absence of large fiscal support. The upcoming strategic review of monetary policy will also likely be the focus of many questions.Hence as reported by Citi, other than Lagarde’s style, ECB projections could also monopolize the attention. Even though, the ECB remains ready to act again and tweak all its measures if necessary, it has already done a lot and now needs to keep an eye on the side effects of the very expansionary monetary policy, while politicians need to do their bit to support the economy.The central bank won’t be reducing the degree of stimulus any time soon with many analysts supporting that this will continue until mid-2020 unless there is a major change in circumstance.Central bankers will be conducting a comprehensive review of the policy framework, however, with a special focus on the inflation target. A more symmetric definition, which stresses that the ECB can see through lengthy inflation overshoots as well as periods of too low headline rates is likely to come in the first quarter of next year. The inclusion of owner-occupied housing costs into the HICP number also remains a challenge especially as house prices are rising rapidly in some centres, also thanks to the low interest rate environment.Bund yields have nudged higher over the past week, but the German 10-year so far failed to move lastingly above -0.3%. Uncertainty on trade and Brexit are keeping a lid on yields, although there is the risk that if things go the way markets want and a phase one trade deal is confirmed and in the UK PM Johnson gets his majority, there could be a sharp rise in yields, if markets price out further easing and start to look ahead to central banks removing some of the stimulus.However this is far away for now, while central bankers are not looking eager to add further easing.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.
    • USDJPY Remains Biased To The Downside   USDJPY faces further price weakness despite its price hesitation on Tuesday. On the upside, resistance comes in at 109.00 level. Above this level will turn attention to the 109.50 level. Further out, we expect a possible move towards the 110.00 level on a break of that area, A cut through here will open the door for more gain towards the 110.50. On the downside, support lies at the 108.00 level where a break will target the 107.50 level. Below that level will turn focus to the 107.00 level and then lower towards the 106.50 level. On the whole, USDJPY faces further downside threats.        
    • Sterling Advances Barely Hours To UK Elections As Latest Poll Predicts Conservatives Win In just two days from now, a major event that will set the trend for the currency market for the year 2020, the UK elections will be held. In the face of a Brexit extension, UK prime minister had pushed for an earlier election in the hopes of having a majority conservatives win in the parliament which will make the Brexit deal pass through easily. As the clock ticks, with barely less than 48 hours to this epochal event, the newest poll by Survation conducted for ITV’s good morning Britain show predicts a Boris Johnson win by 14 pts. ahead of Jeremy Corbyn‘s Labour party. The Brexit deal seemed to give the conservatives an edge as it accounted for 32% of the vote decision while NHS gave Labour party a slight edge. On the overall, a majority vote of 42% was predicted for the conservatives while Labour had 28%. Market Reaction as the Clock Ticks Optimism looms in the market as the prediction of a conservatives win will ease Britain’s exit from Europe by January 31 deadline. The EUR/GBP pair continued to fall till the early hours of today breaking the 0.8411 trend line targeting the 0.8149 resistance level. GBP/USD pair rebounded to consolidate briefly targeting 1.3381 resistance levels. Technical analysis within a 4-hour MACD shows that both pairs may likely touch down. CAD edged slightly higher advanced by USMCA news but yet to consolidate gains. The USD against a basket of five major currencies held steady awaiting FOMC’s minutes due out tomorrow. Against a basket of currencies, NZD’s dominance is the highest. Sterling also gained momentum firmed up by approaching UK elections. The safe-haven, the Japanese yen, and Swiss franc remain pressured as major events that will shape the market for 2020 are been anticipated. On the Asia side, significant market activity wasn’t recorded as most currency pairs held steady within a day’s range. In the Asian stock market, not so much activity was recorded being weakened by recently released Chinese PMI numbers. Most of the indexes closed a little lower while US stocks rose swiftly after Friday’s release of US non-farm payroll reports. The outcome of the December 15 deadline set by the US for the signing of a preliminary trade pact will determine the week’s direction and even further into the year 2020. Also due out later in the week is UK GDP figures and ZEW released out of Germany.
    • Date : 11th December 2019. FOMC Preview – 11th December 2019. FOMC Preview No policy changes or surprises are expected with today’s announcement (19:00 GMT) and Chair Powell’s press conference 30 minutes later. It will be interesting to see if, as expected, the voting is unanimous this time round. The FOMC members have expressed significant differences of opinion during 2019 as three rate cuts were implemented.  The apparent paradox of low unemployment and low inflation, the new “norm”. The two-digit unemployment rate (U-3) in November edged down to 3.53% from 3.56% in October, and a 3.52% cycle-low in September, all below the 3.58% prior cycle-low in April and a 4.00% rate at the beginning of the year. Current readings remain much lower than the 4.2% long-run unemployment rate projection noted in the September SEP, it is expected that this estimate will be trimmed today. Headline CPI rose 0.4% in October while the core index rose by 0.2%, for respective y/y gains of 1.8% and 2.3%, versus September figures of 1.7% and 2.4%. Today the November headline is expected to fall again to 0.2% and the core remains flat at 0.2% too. The Fed’s favoured inflation gauge, the PCE chain price measure, rose 1.3% y/y in October and expectations are for an uptick to 1.4% in November. The core PCE chain price measure rose 1.6% y/y in November, versus 1.7% in September, and expectations are for the pace to hold at 1.6% in November. The FOMC’s latest median estimates for 2019 inflation are 1.5% for the headline and 1.8% for the core. Hence, the focus will be on the Fed’s new quarterly forecasts, with expectations raised and likely to be mostly bullish results with a bump up in the median growth projection and a drop in the median dot to reflect a steady stance through 2020. However, the individual dots are likely to show both, forecasts for cuts and hikes. Chair Powell is expected to reiterate the US economy and policy are in a “good place,” (a phrase he has used a number of times lately) and could sound a little more upbeat after the strong jobs report. But, he will continue to warn of downside risks. The FOMC isn’t likely to announce any new measures on reserve management operations (QE?) or a repo facility. All steady into 2020 and beyond. USDIndex remains biased to the down side but has support around 97.40 and the 200-day moving average. A breach of this key support zone brings in 97.00 and the October low of 96.85. A break over 97.80 (the confluence of the 20 and 50-day moving averages) and 98.00 would be required before a re-test of the recent high at 98.50 could be considered. 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. Stuart Cowell Head 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.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.