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analyst75

Weekly Trading Forecasts on Major Pairs by analyst75

46 posts in this topic

 

 

Here’s the market outlook for the week:

EURUSD

Dominant bias: Bullish

This pair assumed a bullish journey last week, going upwards 230 pips. Price topped at 1.1195, closing above the support line at 1.1150. There is now a bullish signal in the market, which shows the possibility of price going further upwards. As forecasted in the last article, major pairs (with the exception of GBPUSD) moved more strongly than they did between July 18 to 22. As long as USD remains weak, EURUSD would continue going upwards. In August 2016, EUR would rally against most major pairs, meeting possible challenges only against JPY and (possibly JPY).

 

USDCHF

Dominant bias: Bearish

Contrary to expectation, USDCHF declined significantly because USD lost stamina. Although price initially went up by over 90 pips, almost reaching the resistance level at 0.9950, it later suffered a setback. From the high of 0.9949, price move south 300 pips, reaching a weekly low of 0.9635. There is now a Bearish Confirmation Pattern in the market: Further bearish movement is possible this week, provided USD continues its weakness.

 

GBPUSD

Dominant bias: Neutral

Cable merely went sideways last week – which means the present tight equilibrium phase remains valid. A strong breakout would occur this week or next, which would result in an end to the current equilibrium phase in the market. Normally, there ought to be a movement of 500 pips to the upside or to the downside, for the equilibrium phase to end. In August, GBP would rally versus AUD and NZD, but may experience difficulties in doing so versus JPY (and possibly USD).

USDJPY

Dominant bias: Bearish

Just as it was forecasted, USDJPY went bearish, going down 450 pips last week. Bulls fought gallantly against the bearish trend that started at the beginning of last week, but they suffered ignominious defeat on Friday. Price is expected to reach the demand levels at 101.50, 101.00 and 100.50 this week, unless some opposition arises as a result of a possible stamina in USD. Selling pressure is also visible on other JPY pairs, and it is worth mentioning that the outlook on JPY pairs is strongly bearish for the month of August 2016.  

                                                                                                                               

EURJPY

Dominant bias: Bearish

Just like most other JPY pairs, this currency trading instrument went south on Monday and Tuesday, but bulls managed to halt further southward movement on Wednesday and Thursday. However, bulls gave in to bearish pressure on Friday as price nosedived by 250 pips, closing at 113.94 that day. There is a clean bearish outlook on the market and further southward journey is possible.  

This forecast is concluded with the quote below:

“Develop and adhere to a system, not random and erratic acts of inconsistent trading.” – Louise Bedford

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Here’s the market outlook for the week:

                                          

EURUSD

Dominant bias: Bullish

EURUSD went upwards 200 pips last week, testing the resistance line at 1.1350 before the current shallow retracement. Price may be able to target the resistance lines at 1.1400 and 1.1450 this week, but bulls might encounter some challenges doing this. There is a possibility of a pullback, which might bring another opportunity to go long at a lower price or bring an end to the current bullish outlook on the market.

 

USDCHF

Dominant bias: Bearish

USDCHF went in the opposite direction to EURUSD, moving briefly below the support level at 0.9550, and then closing at 0.9600 on Friday. There is a Bearish Confirmation Pattern in the market, which means it may continue trending downwards, on the condition that EURUSD would continue trending upwards; otherwise a rally would ensue. A show of weakness in EURUSD and CHF (for CHF could experience some weakness against the majors this week) would help to bring about a rally in USDCHF.    

 

GBPUSD

Dominant bias: Bearish

GBPUSD went upwards from Tuesday to Friday last week, pulling back by over 130 pips on Friday, and closing above the accumulation territory at 1.3050. The bearish outlook remains in place, unless price goes upwards by at least, another 300 pips from the current location. Without this condition being fulfilled, GBPUSD might experience a further pullback, which might possibly be aided by a bearish movement on GBPCAD (since CAD would rally against other pairs this week). GBPCAD and GBPUSD sometimes get positively correlated. At times, it is helpful to know how conditions surrounding other pairs and crosses affect the instrument we focus on.    

 

USDJPY

Dominant bias: Bearish

This pair declined 170 pips on August 15 and 16, and then moved sideways for the rest of the week, all in the context of a downtrend. The outlook on the pair, plus other JPY pairs, continues to be bearish (though CADJPY could rally when CAD gains stamina). This week, the demand levels at 100.00, 99.50 and 99.00 might be tested. The demand levels at 100.00 and 99.50 were tested last week, but price could not stay below them.   

                                                                                                                               

EURJPY

Dominant bias: Neutral

This cross has been consolidating for the last two weeks; an event which has brought about a neutral bias in the near term (although the bias is bearish in the long-term). Further sideways movement would continue to emphasize the neutral bias, until there is a breakout this week or next, which would most probably favor bears, as price goes towards the demand zones at 112.50, 112.00 and, especially 111.50.    

 

This forecast is concluded with the quote below:

 

“Now I am devoted to Forex and fully focused on developing my trading strategy to become a full-time trader.” – Lukasz (source: Tradimo)

 

Source: www.tallinex.com

 

 

 

 

 

 

 

 

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Here’s the market outlook for the week:

                                          

EURUSD

Dominant bias: Bullish

The bias on this pair is precariously bullish. Price came down 120 pips on Friday, in the context of a weak uptrend. A movement below the support line at 1.1100 would result in a clean Bearish Confirmation Pattern in the market, while a movement above the resistance line at 1.1350 would strengthen the ongoing bullish bias on the pair. This week would determine whether things would turn bearish or things would become more bullish in the market.

 

USDCHF

Dominant bias: Bearish

Just as it was prognosticated last week, a short-term weakness of CHF (which was weak versus other majors as well), coupled with a noticeable bullish effort on EURUSD, was able to cause a rally on USDCHF, which rallied 170 pips last week. USD also became strong in its own right, especially on Friday, August 26, 2016. Therefore, USDCHF would continue going up as long as the factors mentioned above continue to favor it, which might cause a Bullish Confirmation Pattern to form in the market; otherwise there would be a serious pullback.

 

GBPUSD

Dominant bias: Bullish

GBPUSD is bullish in the short-term and bearish in the long-term. Price went north 200 pips to test the distribution territory at 1.3250, before it experienced a pullback on Friday. However, the short-term bias remains bullish, provided that price does not go below the accumulation territories at 1.3000 and 1.2950. GBP pairs would undergo high volatility in September 2016: in contrast to lower volatility witnessed this month.      

 

USDJPY

Dominant bias: Neutral

This currency trading instrument is neutral in the short-term, but bearish in the longer term. The instrument underwent a very tight consolidation between Monday and Thursday, only to break upwards on Friday. The upwards break has not invalidated the neutral bias on the market, unless price goes above the supply levels at 103.00 and 103.50. There is also a possibility of a pullback to the demand levels at 101.00 and 100.50. The outlook on JPY pairs is bearish for the month of September, which means, bears are expected to be the overall winners in the month.    

                                                                                                                               

EURJPY

Dominant bias: Neutral

EURJPY is neutral in the near term and bearish in the long-term. The cross has been moving sideways for the past three weeks, while the trend on higher timeframes remains bearish. The bullish breakout that occurred on Friday could end up being a false breakout, should price fail to keep on moving north. Since the outlook on JPY pairs remains bearish, a pullback into the demand zone at 113.00 is possible, though strong selling pressures would be needed for the demand zone to be breached to the downside.

 

This forecast is concluded with the quote below:

 

“A seed was planted in my mind. It took a few years for it to grow. When it did, I realized that what I really love is trading — the pursuit of actively trying to beat the market. And so I guided my life into that role. It took a while, but finally I succeeded. For the past 15 years, I have been a full-time trader.” - Jim Totaro (Source: Collective2)

 

Source: www.tallinex.com

 

 

 

 

 

 

 

 

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Here’s the market outlook for the week:

                                          

EURUSD

Dominant bias: Bearish

EURUSD went bearish last week, closing at 1.1152 on Friday. Bulls made serious effort to push price upwards on Thursday and Friday, but bears came with stronger hands to effect a movement to the downside. There are support lines at 1.1100 and 1.1050, which may be tested this week. On the other hand, the resistance lines at 1.1300 and 1.1350 would oppose any meaningful rallies in the market. This bearish bias cannot be overridden until price goes above the resistance line at 1.1350.  

 

USDCHF

Dominant bias: Bullish  

USDCHF went bullish last week, closing slightly above the support level at 0.9800 (on September 2). Bears made serious effort to push price downwards on Thursday and Friday, but bulls came in to put a check on this, thereby preventing a serious decline. There are resistance levels at 0.9850 and 0.9900, which may be tested this week. Additionally, support levels at 0.9750 and 0.9700 would check any pullbacks that may occur in the week. This bullish outlook would remain valid as long as price does not go below the support level at 0.9700.

 

GBPUSD

Dominant bias: Bullish

Cable consolidated in the first few days of the week, and then began moving upwards on September 1. The upwards movement was significant enough to result in a Bullish Confirmation Pattern in the 4-hour chart. Further upwards movement is possible, which might enable price to reach the distribution territories at 1.3400 and 1.3450 this week. We would continue to witness high volatility on Cable and other GBP pairs this week and this month.

 

USDJPY

Dominant bias: Bullish

USDJPY has been able to sustain the bullish movement it started on August 26, 2016. Since then, price has gone up 400 pips, assayed to stay above the supply level at 104.00, but closing below it on Friday. The outlook on the market, as well as other JPY pairs, has become strongly bullish, and that is the reality right now. This means that USDJPY is expected to continue going north until there is a significant change in the market situation.     

                                                                                                                               

EURJPY

Dominant bias: Bullish

As it was expected, the protracted equilibrium phase that occurred on this cross from August 8 to 26, 2016 has ended. Price has rallied by approximately 290 pips since then, currently making effort to settle above the supply zone at 116.00, which is trying to aid bears in their current losing battle. Bulls have to overcome that supply zone in order to effect further rally, which is anticipated for this week. Since JPY is now weak, any currencies (like GBP) which become strong would enjoy massive gains versus the Yen.

 

This forecast is concluded with the quote below:

 

“The world's most successful traders believe in themselves and their ability to win. In fact, many of them feel that they “own” the market. They are not necessarily being arrogant, but they are sure of themselves and that they are able to take profits out of the market.” – Andy Jordan

 

Source: www.tallinex.com

 

 

 

 

 

 

 

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Here’s the market outlook for the week:

                                          

EURUSD

Dominant bias: Bullish

This pair went upwards last week, testing the resistance line at 1.1300 and then getting corrected downwards. The bullish bias remains valid, though it looks like an unclear thing. Therefore, the pair is expected to trend further higher this week (for EUR would gain more stamina while USD would be weakened further), re-testing the resistance line at 1.1300, breaking it to the upside and heading towards another resistance line at 1.1350. Some EUR pairs have already started journeying upwards.   

 

USDCHF

Dominant bias: Neutral

There is yet no clear outlook on USDCHF, as price simply swung downwards and then upwards last week. There is going to be a directional movement this week, which would most probably be downwards. EURUSD could trend upwards (owing to an expected stamina in EUR), causing USDCHF to pull back. Other factors contributing to this are the coming further weakness in USD and a possibility of CHF strengthening (please watch CHF pairs). Bears would thus target the support levels at 0.9700, 0.9650 and 0.9600 this week.   

 

GBPUSD

Dominant bias: Bearish

GBPUSD is bearish in the long-term, though bulls are fighting against all odds, to effect a meaningful rally. Price moved upwards 140 pips in the first few days of the week and started coming downwards from Wednesday. A movement below the accumulation territory at 1.3100 would cause a very strong Bearish Confirmation Pattern to form in the market. On the other hand, a movement above the distribution territory at 1.3450 would result in a near-term bullish outlook.

 

USDJPY

Dominant bias: Bearish

Last week, this market trended southwards by 260 pips, moving briefly below the demand level at 101.50, before starting a 170-pip rally.  The supply level at 103.00 has been tested during the rally attempt. Further upwards movement is possible this week, which could bring an end to the current bearish outlook. In case this happens, the supply levels at 103.50 and 104.00 might be reached.    

                                                                                                                               

EURJPY

Dominant bias: Bullish

This currency trading instrument is bullish in the short-term and bearish in the long term. Bearish effort was rendered useless last week, as bulls came in to push price from the demand zone at 114.00 towards the supply zone at 115.50, thereby rendering useless the 200-pip pullback that was witnessed from Monday to Wednesday. Bulls would continue to push price upwards, owing to expectation of further weakness in the Yen. The outlook on JPY pairs is bullish for the week.

 

This forecast is concluded with the quote below:

 

“Success in the long run for me is defined as consistently positive returns with a consistency for never losing too much money when things go wrong. For those starting out I think it is very important to develop a trading strategy that will stand a very good chance in working through all business cycles. The world looks very different now to what it looked like in 2006, 1999, 1991, 1982 and is forever changing. Trading strategies that depend on a certain market environment will always get found out when the market environment changes. As a trader you want to be trading from now till the day you drop dead.” Anton Kreil (Source: Traders-mag.com)

 

Source: www.tallinex.com

 

 

 

 

 

 

 

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Here’s the market outlook for the week:

                                          

EURUSD

Dominant bias: Bearish

EUR/USD moved sideways last week, from Monday till Thursday, and then broke downwards by 85 pips on Friday. Had price failed to break downwards on Friday, the bias would have become neutral in the short-term. Now, the bias is bearish, and price might test the support lines at 1.1100 and 1.1050 this week. This bearish bias would be valid until the resistance line at 1.1300 is breached to the upside.     

 

USDCHF

Dominant bias: Neutral

Although this pair trended upwards on Friday, September 16, the movement was not significant enough to cause a clear bias on the market. Price has tested the resistance level at 0.9800, and it has almost breached it. A movement above the resistance line at 0.9850 would result in a bullish bias, and a movement above the resistance level at 0.9900 would result in a stronger bullish bias, although it would be a kind of difficult for bulls to move price above that level (0.9900). A movement below the support level at 0.9650 would cancel the neutral bias and result in a bearish signal.

 

GBPUSD

Dominant bias: Bearish

GBPUSD dropped 280 pips last week, closing below the distribution territory at 1.3000 on Friday. The bias on the market is bearish in the long-term and the short-term. There is a Bearish Confirmation Pattern in the market and price is expected to reach the accumulation territories at 1.2950, 1.2900 and 1.2850 this week (unless something fundamental changes the stance). GBP pairs, except EURGBP, are currently bearish.

 

USDJPY

Dominant bias: Neutral

This instrument moved within volatility contraction throughout last week, which has resulted in a neutral bias in the near-term. Price moved within the demand level at 103.50 and the supply level at 101.50. This week, the most probable direction is southwards, which would become visible as momentum increases in the market. There is a strong indication that JPY pairs would go bearish this week, just in conjunction with the long-term bearish outlook on them.

                                                                                                                               

EURJPY

Dominant bias: Bearish

This cross pair went down on Monday and went up on Tuesday. On Wednesday, price topped at 116.08, and began to move south from that day until the market closed on Friday. That was a southward movement of about 200 pips, which has brought about a bearish signal in the market. Since the outlook on JPY pairs is bearish for this week, it is possible that the demand zones at 113.50 and 113.00 would be tried this week.

 

This forecast is concluded with the quote below:

 

“It's tempting to tell ourselves that “it’s OK to wait” and “the market will always be there” – as we give ourselves excuses for not taking the next trade. But let’s face facts. If you sit on the sidelines for too long, you may just miss out on the opportunity that will double your trading equity.”  – Louise Bedford

 

Source: www.tallinex.com

 

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Here’s the market outlook for the week:

                                          

EURUSD

Dominant bias: Bullish

EURUSD is bullish in the short-term, but neutral in the long-term. Against the volatility contraction in the higher time-frames, bulls managed to push price above the support line 1.1200. The next targets are around the resistance lines at 1.1250 and 1.1300, which would require strong buying pressure to be breached to the upside. The support lines at 1.1150 and 1.1100 would act as barriers to bearish attempts along the way.     

 

USDCHF

Dominant bias: Bearish

This market is bearish in the short-term, but neutral in the long-term. Despite low volatility in the higher time-horizons, bears managed to push price below the resistance level at 0.9750, now close to the support level at 0.9700. The targets for this week are around the support levels at 0.9650 and 0.9600, which would require strong selling pressure to be breached to the downside. The resistance levels at 0.9750 and 0.9700 would act as barriers to bullish attempts along the way.    

 

GBPUSD

Dominant bias: Bearish

The dominant bias on GBPUSD is bearish. As it was mentioned in the last weekly forecast, price went down last week in spite of desperate opposition from bulls, who left their traces in the market. Short trades are not logical in this market because of the current price action, and because the outlook on GBP pairs remains bearish for this week. Thus, the accumulation territories at 0.2900, 0.2850 and 0.2800 could be tested before or by Friday. 

 

USDJPY

Dominant bias: Bearish

This instrument consolidated in the first few days of last week, dropped in the middle of the week and experienced a slight upwards correction around the end of the week. There is a Bearish Confirmation Pattern in 4-hour and daily charts, which signal further bearish movement. The demand levels at 100.50 and 100.00 could be tried this week. The bearish bias would hold out until the supply level at 104.00 is overcome – something that may not happen soon.

                                                                                                                               

EURJPY

Dominant bias: Bearish

This cross pair dropped significantly last week, moving briefly below the demand zone at 112.50 before the recent bullish effort in the context of a downtrend. The bullish effort could be seen as another opportunity to sell short at slightly higher prices (since the outlook on the cross pair is bearish). The demand zones at 113.00, 112.50 and 112.00 could be tried this week or next. The only thing that can overturn the current bearish outlook is a 300-pip movement to the upside.  

 

This forecast is concluded with the quote below:

 

“I read charts like some people read the newspaper. My world revolves quite a bit around what I see on the charts.” – Joe Ross

 

 

Source: www.tallinex.com

 

 

 

 

 

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Here’s the market outlook for the week:

 

                                          

EURUSD

 

Dominant bias: Neutral  

This pair did not do anything significantly last week, save moving briefly above the resistance line at 1.1250 and testing the support line at 1.1150. The bias has become neutral in the short and long terms, and this is supposed to continue until price goes out balance, which should happen before the end of the week or next. The outlook on EUR pairs is bearish for the month of October (except in a few cases), therefore, EURUSD could be seen going lower in the month.      

 

 

USDCHF

Dominant bias: Bearish

This currency trading instrument is bearish in the short-term, but neutral in the long-term. Bulls made visible effort to push the instrument upwards but bears did not allow this to happen. Although the outlook is bearish in the short-term, price did nothing more than testing the resistance level at 0.9750 and support level at 0.9650. There should be a rise in momentum this week, and USDCHF would rally only when EURUSD falls sharply.

 

 

GBPUSD

Dominant bias: Bearish

GBPUSD is bearish in the long and short terms. Price simply moved sideways last week, although Bearish Confirmation Patterns are still visible in the 4-hour and daily charts. Further bearish movement is anticipated this week, which should drive price towards the accumulation territories at 1.2900, 1.2850 and 1.2800. Rallies in this market would invariably turn out to be traps for bulls; and of course, good short-selling opportunities. The accumulation territory at 1.2950 is currently doing a good job preventing further downside move: though it could give way very soon. In the month of October, the outlook on GBP pairs is strongly bearish, and large downside movements would be witnessed, except in a few cases.

 

 

USDJPY

Dominant bias: Neutral

USDJPY is neutral in the short-term. In fact, the overall condition on the market has been a kind of consolidation throughout September 2016. Further sideways movement would result in a neutral bias in the long-term as well, but there is a  high possibility that price may start trending seriously before the end of this week, which could result in a bearish or bullish signal forming in the 4-hour chart.

 

                                                                                                                               

 

EURJPY

Dominant bias: Neutral  

The condition on EURJPY is quite similar to the condition surrounding USDJPY. Price consolidated between the demand zone at 112.50 and the supply zone at 114.00, throughout last week. This week, a rise in momentum is expected which would take price above the aforementioned supply zone, or below the demand zone, resulting in a bearish or bullish bearish in the short-term.

 

 

This forecast is concluded with the quote below:

 

 

 

“I am now doing things I have a passion for and am full time trading.” – Stefan Carling

 

 

 

Source: www.tallinex.com

 

 

 

 

 

 

 

 

 

 

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Weekly Trading Forecasts on Major Pairs (October 10 - 14, 2016)      

                                        

 

Here’s the market outlook for the week:

 

                                          

EURUSD

 

Dominant bias: Neutral  

This pair remains neutral in spite of strong volatility witnessed on other pairs and crosses last week.  Price simply went below the support line at 1.1150 and then moved towards the resistance line at 1.1200, closing at 1.1200. The neutral bias would persist for some time, but a strong momentum is expected soon. Price needs to go above the resistance line at 1.1350, or below the support line at 1.1050, before it could be said that the neutral bias is over. This week, the most probable direction for EURUSD and some other few EUR pairs, is downwards.     

 

 

USDCHF

Dominant bias: Bullish

This currency trading instrument is neutral in the long term, but bullish in the short-term. Price went upward on Monday and Tuesday, nosedived on Wednesday, and went upwards again on Thursday and got corrected again on Friday.  While it is possible for this instrument to go further upwards, the movement would be limited, because it is unlikely that price would be able to go above the resistance level at 0.9900.

 

 

GBPUSD

Dominant bias: Bearish

There is a strong Bearish Confirmation Pattern on GBPUSD market, and most other GBP pairs. As it was predicted last week, price dropped sharply by 880 pips, reaching a low of 1.2031. This is a persistent bearish trend. After that, price bounced back by 420 pips, to close at 1.2421. What next? Well, the forecast for this week is that, GBPUSD would be bullish (which is also true of a few other GBP pairs). Price would go visibly upwards this week, but that would not be significant enough to override the currently long-term bearish outlook on the market.

 

 

USDJPY

 

Dominant bias: Bullish

As it was anticipated, USDJPY broke upwards last week, ending the recent equilibrium phase in the market. Price shot skywards by 280 pips, testing the supply level at 104.00 and the getting corrected by 100 pips. Price closed below the supply level at 103.00 on Friday, and that could be a good opportunity to seek long trades when things are on sale, and in the context of an uptrend. The outlook on JPY pairs remain bullish for this week, so price could go upwards again by at last, 150 pips this week.

 

                                                                                                                               

 

EURJPY

Dominant bias: Bullish   

Just like USDJPY, EURJPY went upwards seriously last week, testing the supply zone at 116.00 pips, before getting corrected by 90 pips. There is a Bullish Confirmation Pattern on the market, and further upwards movement could happen this week, thereby ending the current bearish correction. From the current locating, price may go towards the supply zones at 115.50, 116.00, and 116.50.

 

 

This forecast is concluded with the quote below:

 

 

 

“I learned that the market truly is your greatest teacher and that trading is a skill you must nurture and develop. The more time you spend in the market, the better you are able to understand market movements.” - Michael Patak

 

 

 

Source: www.tallinex.com

 

 

 

 

 

 

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     Weekly Trading Forecasts on Major Pairs (October 17 - 21, 2016)

                                        

 

Here’s the market outlook for the week:

 

                                          

EURUSD

 

Dominant bias: Bearish  

This pair trended downwards by 220 pips last week – just as it was expected. Price closed below the resistance line at 1.1000, going towards the support line at 1.0950. Bears may eventually target the support line at 1.0900, but they would meet some opposition at that place.  The bias on the market is bearish, and any rallies seen here should be taken as opportunities to sell short at better prices.  

 

 

USDCHF

Dominant bias: Bullish

USD/CHF was able to trend higher last week, managing to reach the resistance level at 0.9900. Based on the prognosis last week, bulls were unable to push price beyond the resistance level, though they may be able to do that this week, due to the perceived buying pressure in the market. The current price action shows that price is almost above that resistance level. Once price goes above the resistance level, next targets would be other resistance levels at 0.9950 and 1.0000. Once again, it is unlikely that price would go above the psychological level at 1.0000, though USDCHF would remain bullish as long as EURUSD remains bearish.

 

 

GBPUSD

Dominant bias: Bearish

Cable plunged last week, reaching the low of 1.2088 on October 11. Price then consolidated till the end of the week. The bias on the market is bearish in the short and long-terms, and thus, it is logical to anticipate another bearish journey once this consolidation ends. This does not rule out a possibility of a rally, which cannot be significant enough to threaten the current bearish bias. The movements on GBP pairs this week would not be as strong as the movements that would be witnessed next week.

 

 

USDJPY

 

Dominant bias: Bullish

This market has managed to maintain its bullish stance; as price continued to trudge northwards. The supply level at 104.50 has been tested and it would be tested again. Some bearish forces would attract the current short-term uptrend, but unless USD itself experiences loss in stamina, the bias would not turn bearish. The bullish outlook would remain as long as price does not breach the demand level at 102.00 to the downside.

 

                                                                                                                               

 

EURJPY

Dominant bias: Bearish   

EURJPY has not moved significantly in the short-term, though a closer look at the market reveals that bears have upper hands over bulls. As long as EUR is somewhat weak, price may face some difficulties in going up. Price is currently below the supply zone at 114.50, and it may test the demand zones at 114.00 and 113.50 this week. On the other hand, a movement above the supply zone at 116.00 would result in a clear bullish signal.

 

 

This forecast is concluded with the quote below:

 

 

 

“My belief is that the markets are a very friendly place. Whatever you want in life, the markets will find a way to give it to you. I’m not being facetious here.” – Dr. Van K. Tharp

 

 

 

Source: www.tallinex.com

 

 

 

 

 

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Weekly Trading Forecasts on Major Pairs (October 24 - 28, 2016)      

                                        

 

Here’s the market outlook for the week:

 

                                          

EURUSD

 

Dominant bias: Bearish  

EURUSD dropped by over 100 pips last week. Price has dropped by more than 300 pips since October 10, resulting in a Bearish Confirmation Pattern in the market. The outlook on EURUSD (and other EUR pairs) is bearish for this week. Therefore, slow and steady downward movement is expected on EURUSD and the support lines at 1.0850 and 1.0800 could be tested this week. Rallies would proffer opportunities to sell short at better prices.   

 

 

USDCHF

Dominant bias: Bullish

Bulls laid a decisive siege at the support level at 0.9900 (formerly a resistance level) from October 12 to 20. It was already forecast that bulls would not find it easy to break the level at 0.9900 to the upside. On October 20, bears gave way to the persistent bullish pressure, partly due to existing stamina in USD. Price was able to close above the support level at 0.9900 after testing the resistance level at 0.9950, and retracing. This week, further bullish movement is possible in the market, because USD is strong and because CHF would be weak this week. Some currencies would rally versus CHF and this would help USDCHF to go more northward, though a significant bullish movement is not likely.

 

 

GBPUSD

Dominant bias: Bearish

GBPUSD made a shallow rally attempt from Monday to Wednesday and then consolidated till the end of the week. As it was hinted in the last forecast, this week would witness more volatility on GBP pairs when compared to last week. This means the present consolidation on GBPUSD would end as momentum rises, though the outlook on GBP pairs is bullish for this week. In case GBPUSD rallies, we would not anticipate a serious threat to the extant dominant bias in the market.  

 

 

USDJPY

 

Dominant bias: Bullish

USDJPY went sideways throughout last week – a situation that could be termed a sideways movement in the context of an uptrend. The outlook on JPY pairs is bullish for this week, and USDJPY might be able to rise towards the supply levels at 104.50, 105.00 and 105.50. This is a situation that could lead to a strong Bullish Confirmation Pattern in the 4-hour chart. The supply levels at 103.00 and 102.50 would serve to restrict large pullbacks this week.  

 

                                                                                                                               

 

EURJPY

Dominant bias: Bearish   

There is a bearish signal on this trading instrument, as price dived by 170 pips last week. One great factor that has contributed to this bearish signal is the weakness in EUR itself, and the only factor that could effect any rally on this instrument is the fact that Yen could become weak (thereby causing JPY pairs to rally this week). In case EUR becomes weaker than Yen, price would fall further. A factor that causes Yen to become weaker than EUR would bring some rally in the market.

 

 

This forecast is concluded with the quote below:

 

 

"When you understand the rules of the game, you can play the game like a master..." – James Altucher

 

 

 

Source: www.tallinex.com

 

 

 

 

 

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Weekly Trading Forecasts on Major Pairs (October 31 – November 4, 2016)      

                                        

 

Here’s the market outlook for the week:

 

                                          

EURUSD

 

Dominant bias: Bearish  

This pair moved sideways last week, and then traded upwards on Friday. However, that was not significant enough to result in any bullish signal. The bias on the market remains bearish, and what happened on Friday could turn out to be a short-selling opportunity. The outlook on EUR pairs is bearish for this week, and therefore EURUSD would keep on being bearish. Price may thus test the support lines at 1.0900, 1.0850 and 1.0800 this week. The only thing could help bulls here is a large pullback on USDCHF, which is not likely this week.     

 

 

USDCHF

Dominant bias: Bullish

This trading instrument has managed to climb above the resistance level at 0.9900, before bears pushed back the price below it. The market has been consolidating for two weeks, though the bullish outlook remains valid. The outlook on USD is bullish for this week and this month, which means most major currencies would be weakened against it. USDCHF would make bullish attempts but there is a very difficult resistance level at 1.0000, which would require lots of buying pressure to breach. Should bulls fail to breach that resistance level, a pullback may materialize.

 

 

GBPUSD

Dominant bias: Bearish

Cable has been moving sideways for two weeks, which has resulted in a neutral bias in the short-term. The long-term bias is bearish, and when momentum rises, it may favor bears. The outlook on the market is bearish for this week, and rallies should be disregarded, for they would be transitory and cannot be significant enough to bring an end to the current long-term bearish outlook. In November, large movements would be witnessed on GBP pairs, and they would undergo bearish movements in most cases.  

 

 

USDJPY

 

Dominant bias: Bullish

As it was mentioned in the last forecast, USDJPY has become bullish. Price moved upwards by 170 pips last week, to test the supply level at 105.50. The bearish correction that was seen on October 28 was just another opportunity to buy long when things are on sale, in the context of an uptrend. The most probable movement for JPY pairs is bullish for this week, though the situation may change before or by the end of November.

 

                                                                                                                               

 

EURJPY

Dominant bias: Bullish   

In spite of the weakness in EUR, the EURJPY cross rallied by 230 pips last week. Price closed at 115.11 on Friday, after forming a clear Bullish Confirmation Pattern in the 4-hour chart. The current price action shows that bulls are still willing to push price further north, which may make price to reach the supply zones at 115.50, 116.00 and 116.50 this week. After all, it is expected that JPY pairs would make some bullish attempts in the week.  

 

 

This forecast is concluded with the quote below:

 

 

 

“Earning a trading income compared to earning an occupation income is just so damned rewarding!” – Louise Bedford   

 

 

 

Source: www.tallinex.com

 

 

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Weekly Trading Forecasts on Major Pairs (October 21 - 25, 2016)      

                                        

 

Here’s the market outlook for the week:

 

                                          

EURUSD

 

Dominant bias: Bearish   

This pair went downwards last week, going below the resistance lines at 1.0650 and 1.0600. Since November 9, price has come down more than 700 pips, leading to a very strong bearish bias on the market. There is a possibility of further downwards movement, which could enable price to reach for the support lines at 1.0550, 1.0500 and 1.0450. This expectation would hold only as long as USD does not showcase any noticeable weakness.

 

 

USDCHF

Dominant bias: Bullish

USDCHF moved upwards by 215 last week. Price managed to go above the psychological level at 1.0000, now at the resistance level of 1.0100. Price has gone upwards reluctantly so far, and there is a possibility that it would make further bullish effort this week. There is another potential target at the resistance level of 1.0200, but the further the market goes upwards, the higher the chances of a large pullback. The bullish bias would hold as long as USD does not lose stamina.  

 

 

GBPUSD

Dominant bias: Bearish

GBPUSD underwent a vivid bearish correction throughout last week – an action that has resulted in a bearish signal in the short and long terms. Long trades are currently not prudent in this market, unless price action reveals that things are conspicuously bullish. Right now, the market is in a downtrend, and only short trades should be sought. Rallies would offer opportunities to go short at better prices.

 

 

USDJPY

 

Dominant bias: Bullish

There is a strong Bullish Confirmation Pattern on USD/JPY. Since the low of November 9, the pair has shot skywards by over 960 pips. Apparently, this is one of the strongest directional movement in recent months, and the supply levels at 111.00, 111.50 and 112.00 could be attained this week. The outlook on JPY pairs remains bullish for this week (just as bullish movements were forecast for most JPY pairs last week).

 

                                                                                                                               

 

EURJPY

Dominant bias: Bullish   

This cross also went bullish last week, fuelled by the buying pressure in the market, and as a result of weakness in Yen. Because Yen is so weak that, even weak currencies like EUR and GBP could manage to rally versus it. In case a currency is strong in its own right, just like the case of USD, the rally against Yen would be strong and fast indeed. As long as Yen does not become strong conspicuously, the northward movement on EURJPY would continue. The supply zones at 118.00 and 118.50 are being watched this week.

 

 

This forecast is concluded with the quote below:

 

 

“YOU are the biggest factor in your trading success…” – Dr. Van. Tharp

 

 

 

Source: www.tallinex.com

 

 

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Weekly Trading Forecasts on Major Pairs (November 28 – December 2, 2016)      

                                        

 

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: www.tallinex.com

 

 

 

 

 

 

 

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     Weekly Trading Forecasts on Major Pairs (December 5 - 9, 2016)

                                        

 

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: www.tallinex.com

 

 

 

 

 

 

 

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Weekly Trading Forecasts on Major Pairs (December 12 – 16, 2016)      

                                        

 

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: www.tallinex.com

 

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     Weekly Trading Forecasts on Major Pairs (December 26 - 30, 2016)

                                        

 

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: www.tallinex.com

 

 

 

 

 

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Weekly Trading Forecasts on Major Pairs (January 23 - 27, 2017)

 

 

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: www.tallinex.com

 

 

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Weekly Trading Forecasts on Major Pairs (January 30 – February 3, 2017)

 

 

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: www.tallinex.com

 

 

 

 

 

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Weekly Trading Forecasts on Major Pairs (February 6 - 10, 2017)

 

 

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: www.tallinex.com

 

 

 

 

 

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