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analyst75

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  1. Weekly Trading Forecasts for Major Pairs (April 16 - 20, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Neutral Irrespective of the bullish attempt that was witnessed last week, the outlook on EURUSD remains neutral. The neutrality has been ongoing for over 2 months, and the bullish attempt that happened last week pales into insignificance when compared to the overall outlook on the market. Price currently oscillates between the support line at 1.2200 and the resistance line at 1.2400. There is a going to be a directional bias once that support line or that resistance line is breached. However, a breach of the support line at 1.2200 is much more likely. USDCHF Dominant bias: Bullish There is some form of bullishness in this market. Since the support level at 0.9200 was breached on February 16, price has moved upwards by 440 pips, closing above the support level at 0.9600 on Friday. This week is supposed to be bullish, because USD will likely gain some stamina against certain currencies like EUR, CHF, AUD and NZD (with the exception of GBP). The first object of attack this week is the resistance level at 0.9650. GBPUSD Dominant bias: Bullish The market gained 220 pips last week, almost reaching the distribution territory at 1.4300, and getting corrected lower, to close below the distribution territory at 1.4250. There is a Bullish Confirmation Pattern in the market, and price is supposed to go seriously upwards again, breaching the distribution territories at 1.4250, 1.4300 and 1.4350 to the upside. Short trades are not yet recommended. USDJPY Dominant bias: Bearish The trading instrument is bearish in the long-term, and bullish in the short-term. There is a weak short-term bullishness owing to the fact that price made some effort to go upwards last week, gaining only 80 pips. Price managed to briefly breach the supply level at 107.50, but it could not close above it on Friday (it closed below it). However, price would be able to go above the supply level at 107.50; even reaching other supply levels at 108.50, 109.00 and 109.50. EURJPY Dominant bias: Bearish This cross is bearish in the long-term, and now bullish in the short-term. It has gained roughly 250 pips this month, and it can gain another 250 pips before the end of the month. That is something that can bring about a long-term bullish outlook on the market as it goes through the supply zones at 133.00, 133.50 and 134.00, even exceeding those supply zones as price goes further and further northwards. GBPJPY Dominant bias: Bullish There is a Bullish Confirmation Pattern in the market. The market gained roughly 500 pips in March and it has gained over 400 pips this month, closing above the demand zone at 152.50 on Friday. The outlook on GBP/JPY and most other JPY pairs, remains bullish for this week. The price is expected to reach the supply zones at 153.00, 153.50 and 154.00: the targets that could even be exceeded. This forecast is concluded with the quote below: “The markets never reward desperation. They only reward clear thinking, discipline and courage.” – Louise Bedford Source: www.tallinex.com
  2. Weekly Trading Forecasts for Major Pairs (April 9 - 13, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The pair is bearish in the short-term, which is still a weak bias. Price went downwards last week, moving briefly below the support line at 1.2250, and closing above it on Friday. There are resistance lines at 1.2300, 1.2350 and 1.2400. Things will go bullish when the resistance line at 1.2400 is breached to the upside. There are support lines at 1.2250, 1.2200 and 1.2150. Things will go strongly bearish when the support line at 1.2150 is breached to the downside. USDCHF Dominant bias: Bullish The market remains bullish in the short-term (and its fate is largely subject to whatever happens to EURUSD). Price went upwards last week, almost reaching the resistance level at 0.9650, and then getting corrected lower. The short-term bullishness will be rendered ineffectual only when price goes below the support level at 0.9500. On the other hand, a movement above the resistance level at 0.9700 will result in a stronger bullish bias on the market. GBPUSD Dominant bias: Neutral The market is neutral because there was no significant directional movement last week. Price hovers between the distribution territory at 1.4200 and the accumulation territory at 1.3900. Price would need to go above that distribution territory or below the accumulation territory, for a directional bias to form, but that would require a big momentum to happen. A possibility of a movement to the upside is very strong because the outlook on GBP pairs is very bullish for this week. Therefore a rally is likely in the market. USDJPY Dominant bias: Bearish The trading instrument is bearish in the long-term, and bullish in the short-term. In the short-term, price gained 180 pips from the low of last week, reaching the supply level at 107.50. Then there was a slight bearish correction in the market, which would eventually turn out to be an opportunity to buy long at better prices. A rally is very likely this week, which would push price upwards by 200 pips. This movement would be strong enough to override the long-term bearishness in the market. EURJPY Dominant bias: Bearish This cross is bearish in the long-term, and rather neutral in the short-term. Another reality is that the market condition is currently choppy, but that might come to an end when a rally occurs in the market. There is a strong likelihood of a rally here, owing to a bullish expectation on JPY pairs for this week. The supply zones at 131.50, 132.00 and 132.50 could be reached when a bullish movement begins. GBPJPY Dominant bias: Bullish GBPJPY cross remains bullish, especially in the medium-term. The market gained roughly 500 pips on March and it has gained over 200 pips this month, closing above the demand zone at 150.50 on Friday. There is a Bullish Confirmation Pattern in the market, and thus, price is expected to continue going upwards this week, reaching the supply zones at 151.00, 151.50 and 152.00. The supply zone at 152.00 could even be exceeded. This forecast is concluded with the quote below: “You have what it takes to be a great trader! You may know this already or you may be curious to find out if you really do have what it takes.” – VTI Source: www.tallinex.com
  3. Do you want to be a successful trader? Then you need to unlock your potential and develop the right habits and routines. Experience shows that people want to keep doing what they are doing, while expecting different results. In trading, that means they carry on trading in a certain way even when it brings poor results. Making a career out of trading means you have to identify what doesn’t work for you, and stop doing it. But that’s not easy – nobody likes being told they are wrong. Your mind is the biggest obstacle that you need to overcome. It prevents you from following trading plans and deceives you into disobeying winning rules because of a transitory setback, thus missing great opportunities to make decent profits. You can only unlock your trading potential through the realities of trading. This book explains the traps that your mind can fall into and the methods you should use to avoid them. The author talks about how to use trading strategies, how to stay disciplined, and the right attitude to take whether you win or lose a trade. He covers trading situations from the past, such as the Greek debt crisis and the Swiss franc/euro upheaval in 2015, and explains how he traded those opportunities. He also talks about position sizes, the right time to trade and what you need to know about drawdowns. Throughout the book, the author pinpoints ways in which bad habits can sabotage your trades, and how to prevent this happening and unlock your potential to become a great trader. Trading realities: http://www.advfnbooks.com/books/unlockpotential/index.html www.tallinex.com wants you to be a successful trader
  4. Weekly Trading Forecasts for Major Pairs (April 2 - 6, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Neutral The market went upwards last week, to test resistance line at 1.2450; a level from which a bearish correction was experienced. Price came down to test the support line at 1.2300, and then closed just above it. While the current bias on the market is neutral, it is expected that a rise in momentum will happen before the end of this week, which would most probably favor bearish, because the outlook on EUR pairs is strong bearish for the week. USDCHF Dominant bias: Bullish This bias on this pair is bullish – but it is currently not a strong bias. Since testing the support level at 0.9200 (February 16), price has managed to gain about 360 pips. Last week, it managed to stay briefly above the resistance level at 0.9550, after which it closed below it again. A rise in the market is expected this week, which would also be fueled by weakness in EURUSD. The resistance levels at 0.9550, 0.9600 and 0.9650 could be reached before the end of the week. GBPUSD Dominant bias: Neutral GBPUSD is bearish in the short-term, but neutral in the long-term. Last week, price nearly reached the distribution territory at 1.4250, after which it dived towards the accumulation territory at 1.4000. The outlook on GBP pairs is bearish for this week. However it is strongly bullish for April. While the general movement is expected to be upside in April, some selling pressure would be witnessed this week, which could propel price towards the accumulation territories at 1.4000, 1.3950 and 1.3900. USDJPY Dominant bias: Bearish The trading instrument is bearish in the long-term, and bullish in the short-term. There is a Bullish Confirmation Pattern in the market, at least on a short-term basis. Price rose 220 pips last week, to test the supply level at 107.00, and then retraced below the supply level at 106.50. The supply level at 107.00 has thus become a major barrier for any bullish effort, as price goes downwards towards the demand levels at 106.00, 105.50 and 105.00. EURJPY Dominant bias: Bearish This cross is bearish in the long-term, and rather neutral in the short-term. Price is currently choppy as things are now in a range. There is a supply zone at 132.00 and a demand zone at 130.00. As long as price saunters between these two zones, the short-term neutrality will hold. There is a higher probability that price will go southwards (in agreement with the long-term outlook) when a breakout does occur. GBPJPY Dominant bias: Neutral The market is choppy and without direction, although the long-term bias is bearish. In March, what generally happened could be called a rally in a context of a downtrend, as price moved from the demand zone at 145.00, to reach the supply zone at 150.50. The outlook on JPY pairs is bearish for this week, and for this month, which means long trades are not recommended (except in a very short-term context). There will be great volatility on JPY pairs, which would most probably favor bears. This forecast is concluded with the quote below: “It’s not about the system, it’s about the trader’s ability to execute the system.” - Curtis Faith Source: www.tallinex.com
  5. DO YOU WANT TO BE ENTERTAINED OR RICH?…IT’S YOUR CHOICE I came across this excellent chart the other day. It shows those times in history when the S&P 500 doubled over a ten year period and the trajectory that this doubling took. Please see here for a relevant chart: https://www.tradinggame.com.au/want-entertained-rich-choice/ Much commentary that followed on twitter related to the steady low volatility climb that characterised the latest run and how boring this was. One of the interesting thing about markets and money in general is that people betray their true desires and personality. Markets are the true window into the soul and in this instance what traders were actually saying is that they wanted to be entertained and not rich. The constant current moaning about the lack of volatility is little more than the plaintiff cries of children who bedevil their parents every school holidays with cries of …I’m bored. This lay observation tallies with what others have found. The seminal work in this field of trader immaturity is An Analysis of the Profiles and Motivations of Habitual Commodity Speculators by W.B. Canoles, S.R. Thompson, S.H. Irwin, and V.G. France. I have summarised their findings below and have added my own emphasis. “The typical trader assumes a good deal of risk in most phases of his life. He is both an aggressive investor and an active gambler. [He] does not consider preservation of capital to be a very high trading priority. As a result, he rarely uses stop loss orders. He wins more frequently than he loses (over 51% of the time) but is an overall net loser in dollar terms. In spite of recurring trading losses, he has never made any substantial change in his basic trading style. To this trader, whether he won or lost on a particular trade is more important than the size of the win or loss. Thus he consistently cuts his profits short while letting his losses run. He also worries more about missing a move in the market by being on the sidelines than about losing by being on the wrong side of a market move; i.e., being in the action is more important than the financial consequences. Participating brokers confirmed that for the majority of the speculators studied, the primary motivation for continuous trading is the recreational utility derived largely from having a market position. Numerous indications in our survey indicate that they are not trading solely or even primarily for profit, but may be maximizing excitement or the number of winning trades.” So we come back to the original question. Do you want to rich or be entertained as the choice is entirely yours. Author: Chris Tate Article reproduced with kind permission of Tradinggame.com.au. The article is concluded by the quotes below: “It's in your best interest to focus on building your trading skills rather than on achieving a huge profit every month.” – Joe Ross “No matter how good you may think you are, nobody is bigger than the market and it will beat you to your knees if you don't treat it with the respect it deserves.” - Adrian Alberts “Trading does not have to be very difficult — what can be difficult is finding the right path early on and properly understanding the major impact of your mental state on your trading results” - Gabriel Grammatidis www.tallinex.com wants you to be a successful trader Trading realities: http://www.advfnbooks.com/books/unlockpotential/index.html
  6. Weekly Trading Forecasts for Major Pairs (March 26 - 30, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Neutral This pair has consolidated so far this month. Price has been ranging between the support line at 1.2250 and the resistance line at 1.2450. This week may see an end to the neutrality of the market, as price would either move above the resistance line at 1.2450 (staying above it); or it would move below the support line at 0.2250 (staying below it). However, a strong movement to the south is much more likely this week, owing to a bearish outlook on EUR pairs. USDCHF Dominant bias: Bullish In the short-term, this pair is bullish. Since the support level at 0.9200 was tested in February 16, 2018, price has rallied by over 350 pips, moving briefly above the resistance level at 0.9550. The market has been corrected lower since then, closing below the resistance level at 0.9500. A rally from here would save the bullish bias; while a plunge from here would render it invalid. Nonetheless, the market is more likely to go upwards as a result of a bearish outlook on EURUSD. GBPUSD Dominant bias: Bullish The bias on GBPUSD has become bullish again, for price went upwards by 250 pups last week. Even the movement this month has been largely bullish (price has gained a minimum of 400 pips). The distribution territory at 1.4200 was tested, but price closed below the distribution territory at 1.4100 on Friday. There is a Bullish Confirmation Pattern the market, which points to a possibility of further bullish journey, as price targets the distribution territories of 1.4150, 1.4200 and 1.4250. This, nevertheless, cannot rule out a possibility of a strong pullback in the market. GBP pairs will experience high volatility this week. USDJPY Dominant bias: Bearish The pair traded southwards last week, to corroborate the presence of bears. Since January 8, 2018, price has lost 830 pips. It lost 170 pips last week, after testing the supply level at 106.50. Since there is a huge Bearish Confirmation Pattern in the market, price can still reach the demand levels at 104.50, 104.00 and 103.50 before the end of this week. A rally may occur along the way, but it should not be something that would override the extant bearish outlook on the market. EURJPY Dominant bias: Bearish Although the market is choppy, the bearish trend has been maintained. Price has been going southward since February 5, having lost almost 800 pips since then. Last week, there was a rally attempt in the context of an uptrend, which was halted once the supply zone at 131.50 was tested. The market shed 250 pips following that, to test the demand zone at 129.00, and closed below the supply zone at 129.50. The expected weakness in EUR, as well as the bearish outlook on the market, may enable the demand zones at 129.00, 128.50 and 128.00 to be tested this week. GBPJPY Dominant bias: Bearish The cross is bearish in the long-term, but neutral in the short-term. This is a choppy market: An abortive bullish attempt was made last week, but that was rejected as the supply zone at 150.00 was tested. Price came down after that, thus cancelling the short-term effect of the bullish attempt. This week, there may not be any rallies that will cancel the existing bearishness in the market. Price could go further southwards, but it is not expected to go below the demand zone at 145.00, which is the ultimate target for the week. This forecast is concluded with the quote below: “Volatility is good for trading… Volatility can and should be used to a trader’s advantage. It all comes back to understanding and believing in your trading system.” - Jasper Lawler Source: www.tallinex.com
  7. A TRUE LIFE STORY OF A VETERAN TRADER We were in a midst of a popular monthly traders’ forum when an elderly man on a wheelchair was helped into the hall. The moderator asked us to stand up for the man, whom he called “a soldier on the battlefield of the financial markets.” As the forum was about to be concluded, someone suggested that we allow the professional on a wheelchair to give a short speech. A mic was given to him. He held the mic and said: “My fellow traders. Thank you for standing up for me, and thank you for giving me a privilege to talk in this forum. I started trading 12 years ago. And I am still trading. I will trade for as long as I breathe. I am one of the most popular Forex traders in this country. Sadly, the one who coached me for Forex trading stopped trading in 2008, because of subprime crises and market crashes. He lacked risk control skills. I pressed on, to become a regular columnist in a popular newspaper, writing about Forex trading on daily basis. I also provided trading signals for people, as well as trading my personal accounts. I have 2 powerful manual strategies that I use. I developed the strategies based on my many years of experience. Trainees who apply my strategies have been sharing wonderful testimonies since. A few years ago, I fell ill. Diagnosis revealed that I had cancer of the bone marrow. I required surgery in a foreign hospital. I gathered all the funds I could gather, and well-wishers and friends also contributed what they could. I was transported to a foreign country (I was already paralyzed). Luckily, the surgery was successful. I can say, partially successful, for the paralysis was partially corrected. I can now speak and use my hands. I can also stand up, but I cannot walk. While I was on a hospital bed and my legs were tied. I was trading profitably on mobile devices. I was even providing trading signals and mentorship to people online. Then, a client couldn’t believe I was providing services to clients on a hospital bed until we connected on Skype, doing video calls. I was seen trading on a bed, while I was strapped to the bed. Several months ago, I came back to my country, and I have continued trading, training and providing signals since then. [He burst into tears]. Traders. Let me tell you this. Online trading remains the best tool for financial freedom. Please do anything possible to become a winning trader. Look at my condition now. I am advanced in age. I can only stand up, but I cannot walk. I need crutches and a wheelchair to move about. Imagine. If I was someone who did 9.00 A.M – 5.00 P.M. work, what would be my lot now? My employers would have laid me off. If I was fortunate enough to get anything from them, it could have been exhausted by now. I would have become a beggar by now. Or what makes me special when compared to other handicapped persons who have now become beggars? Clearly, online trading makes the difference! Imagine. If I go to Mr. Henry to beg for $30, I would finish spending it. If I go to Mr. Johnson to beg for $20, I would finish spending it. If Mr. Johnson was kind enough to give me $20 three times. He would eventually stop giving me more money because he got his own responsibilities. He might not pick my calls again; or he would instruct his folks to tell me he is not at home, when I visit him next (to beg for money). This is a lesson you must learn. Please learn from my story. I trade on a wheelchair, and I make money from signals provision, coaching and trading. I can sustain myself, my wife, my 3 kids and my aged mother.” He dropped the mic. And the forum ended. I conclude this articles with the 3 quotes below: “You must be disciplined in following the plan of your trade religiously. Once you have closed your position, you should record everything about the trade. Write down where you wanted to enter the trade, what you expected out of the trade, and what you actually did get out of the trade. Make sure to include notes that will help you learn from the trade, reasoning what actually took place once you entered the trade. Explain why the trade was a winner or a loser. If you keep detailed records, you can learn from past trades and increase your chances of recognizing your strengths and weaknesses. Build on your strengths and stay away from trades you have demonstrated weakness in.” – Andy Jordan (Source: Tradingeducators.com) “Humans are an error based machine, we make mistakes and perfection is never really on our radar despite our best efforts. The realisation that mistakes are at the core of good trading is hard for many to accept as they are locked into the belief that you cannot make money if you get trades wrong. Fortunately there is no nexus between making money and being right. Many, many years ago i discovered that the fewer fucks I gave the more I made. To revert to a past life choice of mine – you could never be a fighter if your expectation was that you would never be hit.” – Chris Tate “Avoid illiquid markets. Be sure to check volume. How much is it on average and is it steady day after day. And perhaps the greatest lesson of all should you happen to leap before you look--never, ever trade on hope or stay in a trade based on hope. If you are wrong, get out. If you don't have the discipline to do that, you shouldn't be trading.” – Joe Ross Traders’ realities: http://www.advfnbooks.com/books/unlockpotential/index.html Source: www.tallinex.com
  8. Weekly Trading Forecasts for Major Pairs (March 19 - 23, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Neutral The market is generally, neutral. It initially made bullish effort last week, reaching the resistance line at 1.2400, and then retraced towards the south. Price is now below the resistance line at 1.2300, going towards the support lines at 1.2250 and 1.2200. Any rallies could be contained at the resistance line at 1.2400. There will not be much movements across the markets this week. However, next week will witness a strong volatility. USDCHF Dominant bias: Bullish In the medium-term, this market is bullish. Since the support level at 0.9200 was tested in February 16, 2018, price has rallied by over 300 pips, closing above the support level at 0.9500 on Friday. There is a tendency for the market to continue going upwards, especially when EURUSD shows signs of further weakness. Thus the resistance levels at 0.9550, 0.9600 and, ultimately 0.9650, could be reached this week. GBPUSD Dominant bias: Neutral Cable has become neutral, particularly since a few weeks ago. Last week, price rose above the accumulation territory at 1.3900, and then moved sideways throughout the week. There is a distribution territory at 1.4050, which must be broken to the upside, for a bullish bias to form. There is also an accumulation territory at 1.3800, which must be broken to the downside, to form a bearish bias. USDJPY Dominant bias: Bearish Since January 8, 2018, this trading instrument has dropped 750 pips, testing the demand level at 105.50 several times. Price has not been able to stay below that demand level, but that does not rule out the possibility of testing it again. The demand level at 105.50 would offer a stiff resistance to further bearish movement. That means a strong selling pressure would be needed for the demand level to be breached to the downside. Otherwise, a rally will surface. EURJPY Dominant bias: Bearish The market has been in a vivid bearish mode since February 2. The demand zone at 129.50 was tested, and further bearish movement was restricted. A period of consolidation and bullish attempt were witnessed, but price is currently pointing southwards, now close to the demand zone at 130.00, which would be breached to the downside as price goes towards another demand zone at 129.50, where bears will encounter fierce opposition. GBPJPY Dominant bias: Bearish From the low of March 2, price has risen by roughly 450 pips. However in the past few days, price has been coming downwards gradually. Further downwards movement could result in confirmation of a new bearish outlook. There are demand zones at 147.00, 146.50 and 146.00. The demand zone at 146.00 may do a good job in preventing more southwards journey. A very strong rally is expected before the end of this week. This forecast is concluded with the quote below: “Good trading times may be just ahead. Are you ready? It's times like these when the right mental edge can make all the difference…. It's vital that you approach trading with the proper mindset. Be ready to work hard and do whatever it takes to come out a winner. You can trade profitably if you put in the time and effort. Think optimistically, work hard, and take home the profits!” – Joe Ross Source: www.tallinex.com
  9. Weekly Trading Forecasts for Major Pairs (March 12 - 16, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Neutral The market did not do anything significant last week. In fact, the market has generally been choppy since February 2018. There is a support line at 1.2150 and a resistance line at 1.2450. As long as price moves within the aforementioned support and resistance lines, the neutrality in the market will continue. Ultimately, price will either go below the support line at 1.2150 to form a bearish bias; or it may go above the resistance line at 1.2450 to form a bullish bias. USDCHF Dominant bias: Bullish In the short-term, the market is bullish. However, it is neutral in the medium-term and bearish in the long-term. Now, in the short-term, price moved sideways from Monday to Wednesday and then rose on Thursday, becoming bullish. From the support level at 0.9350, price rose above the support level at 0.9500, closing above it on Friday. There could be further upwards movement, but it will not last long because a considerable amount of pullback is expected this week, owing to a bullish outlook on CHF, which may cause other CHF pairs to go bearish (and USDCHF included). GBPUSD Dominant bias: Bearish Cable is bearish in the long-term, but neutral in the short-term. What happened last week is best called consolidation, because there was no strong directional movement in favor of the bull or the bear. A directional movement is supposed to happen this week, as GBP rises against some currencies like USD, but it may drop versus other currencies like NZD. There are accumulation territories at 1.3800, 1.3750 and 1.3700. Likewise, there are distribution territories at 1.3900, 1.3950 and 1.4000. USDJPY Dominant bias: Bearish The outlook on this pair remains bearish, but some bullish effort was made last week. For instance, price rose from the demand level at 105.50, to test the supply level at 107.00. This kind of price action can only threaten the extant bearish bias when price gains additional 150 pips, from here. There are demand levels at 106.50, 106.00 and 105.50. Likewise, there are supply levels at 107.00, 107.50 and 108.00. EURJPY Dominant bias: Bearish Price moved sideways on March 5, rose upwards later that day and on March 6, but then consolidated throughout last week. The consolidation can continue this week, but a rise in momentum is also expected. When a breakout occurs, it will most likely be in favor of the bear, because the outlook on JPY pairs is bearish for this week. Therefore, initial targets may be put at the demand zones of 131.00, 130.50 and 130.00. GBPJPY Dominant bias: Bearish The market is bearish, but it made bullish effort throughout last week. Last week, it rose from the demand zone at 145.50, to test the supply zone at 148.50 (over 300-pip movement). The upwards movement was considerable enough, but that may turn out to be an opportunity to go short when price rises in the context of a downtrend. The outlook on JPY pairs is bearish for this week. Within this week and next, the market is expected to drop at least, 300 pips. The demand zone at 145.50 is the initial target and that may be exceeded eventually. This forecast is concluded with the quote below: “Try to be humble, honest, and ready to face your own shortcomings as a trader. If you can do, you will have a better chance to be consistently profitable.” – Andy Jordan Source: www.tallinex.com
  10. Weekly Trading Forecasts for Major Pairs (March 5 - 9, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The market is bearish, and the bearishness has been in place since February 16. Last week, price moved briefly below the support line at 1.2200, and then rallied in the context of a downtrend. Unless the rally enables price to overcome the resistance lines at 1.2400 and 1.2450, it would merely turn out to be another short-selling opportunity. The support lines at 1.2250, 1.2200 and 1.2150 could be reached this week. USDCHF Dominant bias: Bullish This pair is bearish in the long-term, neutral in the short-term, and it is quite choppy at the present. The bearishness in the market has been in place since early November 2017; plus last week was rough. Price rose from the support level at 0.9350, went above the resistance level at 0.9450, only to drop towards the support level at 0.9350 again. A breach of the support levels at 0.9350, 0.9300 and finally, 0.9250, would bring about a bearish outlook on the market. A movement to the upside would save the extant bullish bias. GBPUSD Dominant bias: Bearish This trading instrument dropped steeply last week, losing 300 pips from the high of Monday. The movement on Friday was somehow flat, but price is expected to resume its southwards journey this week. The outlook on GBP pairs is bearish for the week, and thus, this instrument could go towards the accumulation territories at 1.3750, 1.3700 (which has been previously tested), and 1.3650. USDJPY Dominant bias: Bearish This pair consolidated from Monday to Thursday, and then began to come downwards (to place more emphasis on the bearishness of the market). Price has gone below the supply levels at 106.50, and 106.00; and it may test the demand levels at 105.50, breaching it to the downside as another demand level at 105.00 targeted. On the other hand, a strong reversal could occur, which would result in a threat to the current bearish bias. EURJPY Dominant bias: Bearish It is interesting to see EURJPY being engaged in a long, protracted bearish movement. Since the beginning of February, at least, 700 pups have been shed. In the past few weeks, short-term rallies have been invariably followed by further southwards movements. Price would continue moving downwards towards the demand zones at 130.00, 129.50 and 129.00. Nonetheless, a strong rally is in the offing, as the outlook on EUR pairs is bullish for this week. GBPJPY Dominant bias: Bearish The recent price movement on GBPJPY is similar to that of EURJPY, except the fact that GBPJPY moves faster than EURJPY. For instance, since testing the supply zone at 156.50 on February 2, price has gone downwards by more than 1,100 pips, reaching the demand zone at 145.00. More than 450 pips got dropped last week alone! All this has brought about a Bearish Confirmation Pattern in the market, which points to the possibility of price reaching other demand zones at 140.00 and 139.50. However, there could also be a strong bullish reversal in the market. This forecast is concluded with the quote below: “A strategy is a definitive set of rules that specifies the exact conditions under which trades will be established, managed and closed.” - Jean Folger Source: www.tallinex.com
  11. Weekly Trading Forecasts for Major Pairs (February 26 – March 2, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The market is bearish in the short-term. Since testing the resistance line at 1.2550 on February 16, price has gone south by more than 250 pips (now barely below the resistance line at 1.2300). This week, the outlook on EUR pairs is bullish. While the support lines at 1.2250 and 1.2200 could be tested, it is expected that a considerable rally will start before the end of the week, and that is something that could overturn the current short-term bearish bias. USDCHF Dominant bias: Bullish The pair is bullish in the short-term. After the support level at 0.9200 was tried on February 16, the market gained 200 pips. It tested the resistance level at 0.9400 on Thursday, and then retraced a bit. The resistance level at 0.9400 could be tested again, and even another resistance level at 0.9450. However, an eventual rally on EURUSD would force the current upwards movement to reverse, thus threatening the short-term bullish bias. GBPUSD Dominant bias: Neutral There was no strong directional movement here last week. Since February 16 price has been going gradually lower (rendering the bullish outlook that was formed before February 16 invalid). Since the downwards movement is not strong, the market has essentially become neutral in the near-time. However, the neutrality would soon become a thing of the past, because a strong momentum is expected in the market, which would most probably favor bulls. The outlook on GBP pairs is mostly bullish for March 2018, although that does not rule out bearish corrections in certain cases. USDJPY Dominant bias: Bearish The market was bearish in the long-term. A rally happened last week from Monday to Wednesday, but it was checked by the bearish correction that took place on Thursday and Friday. There are support levels at 106.50, 106.00 and ultimately at 105.50. These support levels will try to prevent further bearish correction, and that is something that could bring about another rally in the market, which would become considerable this time. EURJPY Dominant bias: Bearish This cross is strongly bearish, going downwards in a steady manner since February 2, and losing at least, 600 pips since then. Nonetheless, the southwards journey will soon be over, as a strong rally is expected, which would eventually remove the current Bearish Confirmation Pattern in the market. The outlook on JPY pairs is bullish for this week, and for the month of March. So, short trades are not advisable. GBPJPY Dominant bias: Neutral This trading instrument is bearish in the long-term, but neutral in the short-term. The market has gone bearish by 700 pips since February 2 – but it has only moved sideways in the last two weeks. Since the low of 148.00 was tested, price has failed to go significantly lower. A base has already been formed and price could be seen moving upwards, away from the base. This month, the market is expected to go upwards by at least, 500 pips, and that will effectively bring about a bullish bias. This forecast is concluded with the quote below: “True trading is actually speculation (managed risk). The speculator is willing to accept the risk of price fluctuation in return for the greater leverage that comes with that risk in the hopes of earning a greater profit.” – Andy Jordan Source: www.tallinex.com
  12. Weekly Trading Forecasts for Major Pairs (February 19 – 23, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish Last week, this pair rose from the support line at 1.2250 and tested the resistance line at 1.2550 (a movement of 300 pips). After the resistance line at 1.2550 had been tested, price got corrected by 140 pips, closing below the resistance line at 1.2450 and now very close to the support line at 1.2400. The current bias on the market is bullish, but that can change this week, because there is a strong likelihood that EUR pairs would become very weak this week. Rallies would be contained at the resistance line at 1.2550, and price could drop towards the support lines at 1.2350 and 1.2300 this week. These targets could even be exceeded. USDCHF Dominant bias: Bearish USDCHF remained under strong bearish pressure last week. Price consolidated on Monday, and started coming downwards on Tuesday, to reach the demand level at 0.9200 on Friday. The upwards bounce that is in place was made possible by a sharp pullback on EURUSD. Bearish attempts would be halted at the support level of 0.9200; while price targets the resistance levels at 0.9300, 0.9350 and 0.9400. However, there could be a limited bullish movement because USD would not be very strong this week. GBPUSD Dominant bias: Bearish Cable is not currently in a bullish mode. The rally that was witnessed last week might have led to a bullish bias if not for the pullback that occurred on Friday. Price rose indeed – from the accumulation territory at 1.3800, nearly reaching the distribution territory at 1.4150, but further northward journey was halted. The distribution territory at 1.4150 has already become a barrier to further bullish movement: The market is supposed to move downwards this week. The outlook on GBP pairs is somewhat bearish for this week. USDJPY Dominant bias: Bearish USD/JPY was engaged in a smooth, clean bearish movement last week. Since January 9, the market has gone downwards by 720 pips (losing at least, 300 pips this month alone). There is a strong Bearish Confirmation Pattern in the market, it is expected that price should be able to go below the demand levels at 106.00, 105.50 and 105.00, and remain below it… The outlook on JPY pairs remains bearish. EURJPY Dominant bias: Bearish From the top of 137.50, this cross has nosedived by at least, 550 pips. Last week, the movement of the market was a kind of choppy and sideways (in the context of a downtrend), but bears were able to pull their weight, since price closed below the supply zone at 132.00. The outlook on the market remains bearish, and that might even be aided by a weak EUR. The demand zones at 131.50 and 131.00 are the initial targets for the week. GBPJPY Dominant bias: Bearish On February 2, the market reach the monthly high of 156.50, and it has dropped 800 pips since then, reaching a low of 148.00. Although the market movement is rough, the bearishness in the market is clearly visible. This week, the market should continue moving southwards, but not without attacks from bulls (which could cause temporary upwards bounces in). The targets for the week are located at 148.50, 148.00 and 147.50. This forecast is concluded with the quote below: “A trading edge is created by a harmonious combination of choices made by each trader to exploit recurring market inefficiencies and thereby create a long-term mathematical advantage. The unique objectives, beliefs, and skills of each trader are key to all edge choices and to integrating the edge into an effective trading methodology.” – VTI Source: www.tallinex.com
  13. Weekly Trading Forecasts for Major Pairs (February 12 - 16, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair is bearish in the short-term, for price went southwards throughout last week, moving downwards from the resistance line at 1.2450, and nearly touching the support line at 1.2200. The support line would be breached to the downside, as other support lines at 1.2150 and 1.2100 are aimed at. The outlook on EUR pairs is bearish for this week, and so, the probability of a southwards movement is very high. USDCHF Dominant bias: Bearish The outlook on the market is bearish – even in the long term. Throughout last week, there were rally attempts in the context of a downtrend. The current bullish effort may be temporary, because price may drop from here, to test the support levels at 0.9350 and 0.9300 (this week). However, a movement above the supply level at 0.9500 could result in a nice bullish outlook on the market. GBPUSD Dominant bias: Bearish This market shed 300 pips last week, closing below the distribution territory at 1.3800. Price has gone downwards by over 430 pips since February 2, creating a Bearish Confirmation Pattern in the market. The outlook on GBP pairs is bearish for this week (save EURGBP, which is expected to be going upwards), and thus the accumulation territories at 1.3750, 1.3700 and 1.3650 could be reached this week. USDJPY Dominant bias: Bearish USDJPY is bearish – though the market environment is quite choppy. After several tests, price was able to go below the supply level at 108.50, and it is currently targeting the demand level at 108.00, which could be breached to the downside, as price goes further southwards. The bearish outlook would be intact as long as price does not go above the supply levels 110.00 and 110.50, which could, however, be tested. EURJPY Dominant bias: Bearish Last week, there was a massive drop on this cross. Price went southwards by 500 pips, reaching the demand zone at 132.00. On Friday, there was an upwards bounce in the market, which should turn out to be temporary, because this cross ought to continue its southwards journey this week. The demand zones at 132.00, 131.50 and 131.00 could be breached to the downside. Rallies in the market could this be ignored. GBPJPY Dominant bias: Bearish Amid high volatility, the bias on GBPJPY has turned bearish. The bearishness started as a minor bearish correction on February 2, and later became something serious last week. Price plummeted by 600 pips, testing the demand zone at 149.00. The upwards bounce in price, which occurred on Friday, February 10, should be disregarded, because price is most likely go further southwards (owing to the weakness in GBP and a bearish expectation for JPY pairs). The market can shed another 300 pips this week. This forecast is concluded with the quote below: “It simply doesn't make sense to trade just one market and to hope that one is going to be the big winner of the year. That's why trading multiple markets is so important and one of the key principles to successful trading in the long-term.” - Marco Mayer Source: www.tallinex.com
  14. Weekly Trading Forecasts for Major Pairs (February 5 - 9, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair did nothing significant last week: It only moved sideways. However, the bullish bias on the market has been maintained because bulls have been able to their own weight, and when a breakout occurs, it would take price above the resistance lines at 1.2500 and 1.2550. Possible pullbacks may not take price below the support lines at 1.2300 and 1.2250; otherwise a bearish bias would form. USDCHF Dominant bias: Bearish USDCHF also consolidated last week, not going downwards significantly and not going upwards either. The bias on the market remains bearish, and there is a possibility that the support levels at 0.9200, 0.9150 and 0.9100 could be tested this week (when volatility arises). The resistance levels at 0.9400, 0.9450 and 0.9500 should hinder any serious rallies that may happen. Any breach of the resistance level at 0.9500 would result in a bullish bias. GBPUSD Dominant bias: Bullish Cable moved downwards on Monday and Tuesday, went upwards on Wednesday and Thursday, and then went downwards again on Friday. The outlook on the market is bullish, but the current strong pullback in the market has become a kind of threat to the bias. A breach of the accumulation territory at 1.3950 would result in a bearish signal, while a movement above the distribution territory at 1.4350 would help strengthen the current bullish bias. USDJPY Dominant bias: Bearish This trading instrument is bearish in the long-term, and bullish in the short-term. A short-term “buy” signal has been generated, because price has risen by 180 pips after testing the demand level at 108.50. This could be a start of a strong bullish journey, since price may rise further towards the supply levels at 110.50, 111.00 and 111.50. This even would result in an end to the current bearish bias. EURJPY Dominant bias: Bullish Price made some faint bearish effort on January 29 and 30, as it briefly went below the demand zone at 134.50. However, the situation changed as a strong rally began on January 30. Price gained 300 pips, bringing about a bullish signal, and ending the recent consolidation in the market. The possibility of price going further upwards is very high this week. The next targets are the supply zones at 137.50, 138.00 and 138.50. GBPJPY Dominant bias: Bullish There is a Bullish Confirmation Pattern on GBPJPY (although the market environment is quite volatile). In the first few days of last week, price took a dip, only to rally massively in the middle of the week. The pullback that occurred on Friday would turn out to be another opportunity to buy long and ride the market further north. It is important to note that the bias on JPY pairs is very bullish for this week – short trades are not currently advisable. This forecast is concluded with the quote below: “...Stay calm, try your best, and accept where the markets take you. Ironically, if you can identify and control what you can (such as risk management and a sound trading strategy), and accept what you cannot (the outcome of a trade), you will feel calm and be able to trade in a peak performance mindset. And the calmer you feel, the more open you will be to seeing the markets as they are, rather than what you want them to be.” – Joe Ross (Source: Tradingeducators) Source: www.tallinex.com
  15. Weekly Trading Forecasts for Major Pairs (January 29 – February 2, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This week, EURUSD assumed one of its strongest movements in recent times. Since December 18, 2017, price has gained 800 pips. It gained almost 600 pips in January 2108, and over 300 pips last week, almost reaching the resistance line at 1.2550 (and pulling backwards). The market may go further upwards, reaching the resistance lines at 1.2550 and 1.3000, but it would eventually start coming down before the end of this week. The outlook on EUR pairs is bearish for this week. USDCHF Dominant bias: Bearish Since November 2, 2017, this pair has lost more than 700 pips; whereas its most serious bearish movements within the past several months occurred in January 2018. Last week witnessed the strongest bearish movement, as price went south by 300 pips, testing the support level at 0.9300 and closing below the resistance level at 0.9350. Since the outlook on USD is bearish for this week and for February; and since the outlook on CHF is bright (bullish) for February, it is expected that USDCHF would remain under bearish pressures. Only a strong bearish movement on EURUSD can cause some rally on USDCHF, which may even be weaker than normal. GBPUSD Dominant bias: Bullish Last week price went upwards by 480 pips before the bearish correction that is currently in place. The distribution territory at 1.4350 was almost reached, before price pulled backwards. A strong bullish pressure is needed before the distribution territory at 1.4350 can be tested again, and breached to the upside. Nevertheless the 170-pip pullback that took place on Thursday and Friday, may harbinger a protracted bearish movement, because the outlook on GBP pair is bearish for this week and for February. Strong movement would be witnessed again on GBP pairs. USDJPY Dominant bias: Bearish The trend in the market is bearish – especially in January. Since the beginning of the year, price has come down by 420 pips, leading to a huge Bearish Confirmation Pattern in the market. Last week witnessed a movement of 240 pips, as price closed around the demand level at 108.50 on Monday. Further bearish movement may help price test the demand levels at 108.00 and 107.50. There could be instances of rally attempts this week, but they may be insignificant, owing to the weakness of USD. EURJPY Dominant bias: Neutral It is a surprise that EURJPY cross only went sideways last week, while most majors trended significantly. This is a sideways (neutral) market, which oscillates between the supply zone at 136.50 and the demand zone at 135.00 (though the demand zone at 135.00 was breached on Friday). Further sideways movement is possible, but there will eventually be a breakout in the market, which would favor bulls. GBPJPY Dominant bias: Bullish This is a volatile market. It has moved significantly upwards since January 11. However, there was a noteworthy pullback on January 25 and 26. Further pullback is possible, but may be contained at the demand zones of 153.00 and 152.00. Eventually, the recent bullish trend will continue because the outlook on certain JPY pairs is bullish for February, and GBPJPY is also included. This forecast is concluded with the quote below: “Trading requires an optimal mindset. When you are upset, tired, and emotionally distracted, you will have trouble following your trading plan. You must return to a calm, focused mindset, a mindset where you are attentive and alert, and can trade like a winner.” – Joe Ross Source: www.tallinex.com
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