Weekly Trading Forecasts on Major Pairs by analyst75

[⭐ analyst75]

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

 

 

 

 

 

 

 

 

[⭐ analyst75]

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

 

 

 

 

 

[Guest andengireng]

 

EURUSD today, as we see here, EURUSD wants to break the resistance area at 1.23300 if EURUSD break it, you can start buy it with potential target up to 1.23880

[⭐ analyst75]

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

 

 

 

 

[⭐ analyst75]

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

 

 

 

 

[⭐ analyst75]

Weekly Trading Forecasts for Major Pairs (April 30 – May 4, 2018)       

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

This pair experienced a strong bearish movement last week, dropping 230 pips, and nearly reaching the support line at 1.2050. However, price closed above the support line at 1.2100, and that might be a good opportunity to sell short at a better price, for price may continue going downwards this week, because USD keep on being strong. The support lines at 1.2100, 1.2050 and 1.2000 are the next targets. EUR pairs will also experience strong volatility in May.  

 

 

USDCHF

Dominant bias: Bullish

This trading instrument went upwards last week (gaining 150 pips). Over 300 pips have gained in the last two weeks, and this is just the beginning, because the northwards journey would continue as a result of the stamina in USD. The resistance level at 0.9900 has been tested and it would be tested again, and get breached to the upside. That is when price would target additional resistance levels at 0.9950, and ultimately 1.0000.

 

GBPUSD

Dominant bias: Bearish

GBPUSD shed 250 pips last week, and it has shed more than 600 pips since April 17. There is a huge Bearish Confirmation Pattern in the market, which portends possibility of further southwards journey. The accumulation territories at 1.3750, 1.3700 and 1.3650 could be reached before the end of the week. The accumulation territory at 1.3750 was tested last week, and it would be tested again this week, for the outlook on GBP pairs remains bearish. GBP pairs will also experience high volatility in May.

 

USDJPY

Dominant bias: Bullish

Price started rallying last month, and it rallied considerably last week. The bias on the market has thus turned completely bullish as price neared the supply level at 109.50, and it is now close to the demand level at 109.00…  However, price may not be able to go protractedly upwards again, because there is a very strong bearish outlook on JPY pairs for this week, and for May 2018. Long positions should be liquidated because bulls will suffer seriously in May.

 

EURJPY

Dominant bias: Bullish    

This cross did not made any strong directional movement last week. Price made a weak bullish effort on Monday and Tuesday, consolidated on Wednesday and then got a bearish correction on Thursday and Friday. Although the ongoing bias is bullish, bulls are obviously getting weaker and weaker, showcasing their lack of interest in pushing price upwards. The recent bearish correction may eventually turn out to be something significant. A large movement is expected on EURJPY in May, and it would mostly favor bears.

 

GBPJPY

Dominant bias: Bearish

Just like EURJPY, albeit in a significant mode, this cross pair made a clear bullish effort on April 23 and 24, then ranged on April 25; only to dip on April 26 and 27. The dip on April 27 was strong enough to enforce a formation of a Bearish Confirmation Pattern in the market. Given the weakness in GBP and a bearish outlook on JPY pairs (Yen would become strong), this cross would continue to go further southwards, reaching the demand zones at 150.00, 149.50 and 149.00 this week.

 

This forecast is concluded with the quote below:

 

“What you need is the safety of a detailed trading plan: specific guideline to follow. Making a plan follows the wisdom of any job being 80% preparation and only 20% execution. The more clearly the plan is laid out, the easier it is to follow. And when the plan is easy to follow, it's likely that you'll stick with it. You'll be disciplined and in control of your emotions and thought processes.” – Andy Jordan (Source: Tradingeducators.com)

 

Source: www.tallinex.com

 

 

 

 

[Guest FXTechstrategy]

EURUSD: Remains Bearish But With Caution

EURUSD: The pair extended its weakness the past week though backing off mildly on Friday. On the upside, resistance comes in at 1.2150 level with a cut through here opening the door for more upside towards the 1.2200 level. Further up, resistance lies at the 1.2250 level where a break will expose the 1.2300 level. Conversely, support lies at the 1.2050 level where a violation will aim at the 1.2000 level. A break of here will aim at the 1.1950 level. Below here will open the door for more weakness towards the 1.1900. All in all, EURUSD faces further downside threats.
 

[⭐ analyst75]

Weekly Trading Forecasts for Major Pairs (May 7 - 11, 2018)       

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

EURUSD went downwards by 170 pips last week. It has gone downwards by 430 pips since April 19. There is a Bearish Confirmation Pattern in the market and it is supposed to continue going lower and lower, reaching the support lines at 1.1900, 1.1850 and 1.1800. USD is supposed to continue being strengthened, and so long trades are not currently recommended, until it is clear there is a change in the market.    

 

 

USDCHF

Dominant bias: Bullish

This pair has normally been going upwards as EURUSD is going downwards. Price has gained over 800 pips since February 16 (it gained 130 pips last week). The great psychological level at 1.000 has eventually been reached and a lot of activity has started around that level, as bears are struggling to prevent bulls from pushing price above the level. However, bulls will eventually win the struggle, and enable price to stay above the psychological level at 1.0000, as another resistance level at 1.0050. The USD reigns.

 

GBPUSD

Dominant bias: Bearish

Since testing the distribution territory at 1.4350 on April 17, Cable has nosedive, shedding 850 pips since then (including 250 pips that were shed last week). Price tested the accumulation territory at 1.3500 on Friday, but closed above it. The outlook on GBP pairs is bearish for this week, and thus Cable should continue its downwards exploration, reaching the accumulation territories at 1.3500, 1.3450 and 1.3400.

 

USDJPY

Dominant bias: Bullish

The bias on the market is bullish, but the trend is in a precarious position. Price did not go upwards significantly last week, neither did the bearish correction that followed help the matter. Once the supply level at 110.00 was tested, price got corrected by 100 pips, moving briefly below the demand level at 109.00 and then closing above it on Friday. Since the bullish bias is in a precarious situation, any movement below the demand level at 108.00 will result in a clear bearish signal.  A movement to the downside is very much likely this week.

 

EURJPY

Dominant bias: Bearish   

This trading instrument has dropped by 300 pips since April 26. Roughly 250 pips were shed last week, owing to the weakness in EUR and a show of energy in JPY. There is a huge Bearish Confirmation Pattern in the market, and price is expected to continue going southwards, owing to the bearish outlook on JPY pairs this week. The demand zones at 130.00, 129.50 and 129.00 would be reached.  

 

GBPJPY

Dominant bias: Bearish

A very weak GBP has met a strong JPY, and the result was that price went out of balance, in favor of bears. There is a huge drop in the market (nearly 300 pips), as the demand zone at 147.00 was nearly tested. There is a bearish outlook on this cross, and further southwards journey is expected. There could be transitory upwards bounces in the market, but they would serve as good short-selling opportunities.  

 

This forecast is concluded with the quote below:

 

“(Good) Trading happens outside your comfort zone… What I love about trading is the ongoing challenge and it makes me happy to know that I’m competing against some of the brightest minds on earth in the markets. They do what works.” - Marco Mayer

 

 

Source: www.tallinex.com

 

 

 

 

[⭐ analyst75]

Weekly Trading Forecasts for Major Pairs (May 14 - 18, 2018)       

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

This pair trended downwards last week, testing the support line at 1.1850. Several attempts to breach the support line to the downside were not successful, and as such price bounced upwards by 100 pips from the line. The upwards bounce is seen as an opportunity to buy at slightly higher prices because the outlook on the market remains bearish, and price may continue going further downwards, eventually breaching the adamant support line at 1.1850 to the downside.     

 

 

USDCHF

Dominant bias: Bullish

In the context of an uptrend this trading instrument went sideways last week, ranging between the resistance level at 1.0000 (previously a support level) and the resistance level at 1.0050. Eventually, price closed below the resistance level at 1.0000 on Friday, and it may even test the support levels at 0.9950 and 0.9900. However, price would rise again, possibly reaching the resistance level at 1.0000 and breaching it to the upside. 

 

GBPUSD

Dominant bias: Bearish

The current bearish trend started in April 17, and what happened last week was just a pause the bearish trend.  The pause was a consolidation throughout last week; thus a breakout is imminent, which would most probably favor bears. The accumulation territory at 1.3500, which had been tested before, would soon be breached to the downside, as price targets other accumulation territories at 1.3450 and 1.3400.

 

USDJPY

Dominant bias: Bullish

The bias on the market is bullish – and the trend is still in a precarious position. Price did not go in a strong directional movement last week. It only oscillated between the demand level at 109.00 and the supply level at 110.00. A breach above the supply level at 110.00 is anticipated this week, although bulls may not be able to enjoy that victory for a long time, because there is a possibility of a fall back towards the demand level at 109.00.

 

EURJPY

Dominant bias: Bearish   

In a bearish outlook, price trended downwards on Monday and Tuesday, and then started to make a rally effort. It managed to close above the demand zone at 130.50 on Friday, in the context of a downtrend. Unless the Euro gets strengthened considerably, there might be a reversal in favor of bears, which would enable the market to target the demand zones at 130.50, 130.00 and 129.50.

 

GBPJPY

Dominant bias: Bearish

This cross was characterized by a zigzag movement throughout last week, although that did not affect the current Bearish Confirmation Pattern in the market. This week, price is supposed to continue moving further and further south (as soon as the current short-term trendlessness ends).  The demand zone at 147.50 was tested last week, before price rallied a bit further. The demand zones at 147.50, 147.00 and 146.50 may be tested this week

 

This forecast is concluded with the quote below:

 

“Of course, most traders enjoy the process of building up profits, the satisfaction of adept trading, or simply outwitting the crowd. But it is not just the outcome that is important, it is also the process.” – Andy Jordan

 

 

Source: www.tallinex.com

 

 

 

 

[⭐ analyst75]

Weekly Trading Forecasts for Major Pairs (May 21 - 25, 2018)       

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

This pair trended downwards last week, testing the support line at 1.1750. The market went essentially sideways on Thursday and Friday, and may go below the support line at 1.1750, to target another support line at 1.1700. About 250 pips have been lost this month, and it just seems to be the beginning. The outlook on EUR pairs is bearish for this week (EUR would be seen going downwards versus major currencies).

 

 

USDCHF

Dominant bias: Bullish

This trading instrument is bullish in the long-term, but neutral in the short-term. Price has been consolidating in the past two weeks; whereas that is not strong enough to render the recent bullish bias useless. There is going to be a breakout at last, but the movement to the upside will no longer be a serious thing. While USDCHF is supposed to go upwards, there would be a challenge to the upwards move, because CHF is expected to gain serious stamina this week (major currencies will drop versus it). This means that the coming strength in CHF may hinder USDCHF from getting seriously pushed further northwards. 

 

GBPUSD

Dominant bias: Bearish

The Cable is bearish in the long-term, but neutral in the short-term. The bearish movement that started last month, has continued this month (although price has been ranging in the short-term). There remains a valid Bearish Confirmation Pattern in the market, despite the fact that it has been ranging in the last two weeks. A breakout is imminent, which would most probably favor bears. The accumulation territories at 1.3450, 1.3400 and 1.3350 could be reached thus week.

.

USDJPY

Dominant bias: Bullish

The bullish movement that was witnessed last week has saved the ongoing bullish bias in the market. The bullish movement started in March 2018 and it has held out till now. The supply level at 111.00 was tested before price closed below it on Friday. This week, there is a high probability that the market would continue going upwards, reaching the supply levels at 111.00, 111.50 and 112.00.

 

 

EURJPY

Dominant bias: Bearish   

The bias on this cross is bearish, but it is a precarious bias. What the market did last week was a zigzag movement without a clear directional propensity. Price moved upwards, downwards, and upwards again, within the supply zone at 131.50 and the demand zone at 129.50. A 200 –pip movement to the upside or to the downside would easily change the bias to bullish or bearish, and that is exactly what is expected this week.

 

 

GBPJPY

Dominant bias: Bullish

The market is bullish, at least, in the very short-term. The current bullishness (which is not very strong), started on May 8, and it has been dragged on in spite of constant interferences from bears. Price succeeded in moving further northwards last week, almost reaching the supply zone at 150.00, before closing below it on May 18. This week, too much weakness in GBP could frustrate a clean bullish movement. Nevertheless, the supply zone at 150.00, might once again, be breached. 

 

This forecast is concluded with the quote below:

 

“According to Kermit the Frog, it’s not easy being green. For skillful traders, it’s not hard to be green. May your trades be green.” – attributed   

 

 

Source: www.tallinex.com

 

 

 

 

 

[⭐ analyst75]

Weekly Trading Forecasts for Major Pairs (May 28 – June 1, 2018)       

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

There is a very strong Bearish Confirmation Pattern on EURUSD. Price went southwards by 100 pips last week (it has gone south by almost 750 pips since April 19). The line at 1.1650 has been tested and breached to the downside, slightly. This week, further bearish movement is a possibility, and the support lines at 1.1600 and 1.1550 can be reached as well. However, there is also a possibility of a bullish reversal before the end of the week.

 

USDCHF

Dominant bias: Bullish

This trading instrument is bullish in the long-term, and bearish in the short-term. Last week, price turned southwards, testing the level at 0.9900 several times and eventually closing below it on Friday. One reason why the market became bearish in the short-term is the strength in CHF. CHF still strong, as evident on major CHF pairs. The market can thus reach the support levels at 0.9850 and 0.9800, thereby erasing the long-term bullish outlook on the market.

 

 

GBPUSD

Dominant bias: Bearish

This pair went southwards last week, closing below distribution territory at 1.3300 on Friday. Price shed almost 170 pips last week, and it has shed 1,050 pips since April 17 (an ideal market condition for trend followers).  The GBP remains very week, and it is not advisable to seek long trades here, except to go short on rallies. The market is expected to lose at least, additional 150 pips this week, reaching the accumulation territory at 1.3150.

 

USDJPY

Dominant bias: Bullish

The trend is also bearish in the short-term, but bullish in the long-term. From the high of last week, price went downwards by 230 pips, to test the demand level at 109.00, closing above it on May 25. Further bearish movement is expected this week, and this may affect the long-term bullish bias, as the demand levels at 109.00, 108.50 and 108.00 are aimed, for there is a considerable stamina in Yen.

 

 

EURJPY

Dominant bias: Bearish   

The downwards movement that happened last week has put an end to the recent sideways movement that was seen in the market. From May 9 to 22, the market consolidated in the context of a downtrend, and at last, there was a breakout in favor of sellers. This has really put more emphasis on the Bearish Confirmation Pattern in the market, coupled with the weakness in EUR. This week, the demand zones at 127.00, 126.50 and 126.00 may be reached.

 

 

GBPJPY

Dominant bias: Bearish

The bias on GBPJPY is bearish and it should continue to be bearish. GBP is weak and JPY is strong. Besides, there was a huge drop of over 450 pips last week, slashing more and more demand zones as bears rejoiced.   Since April 17, more than 800 pips have been shed, and this just seems to be the beginning, as stronger bearishness is anticipated. At least, another 200 pips would be shed this week.

 

This forecast is concluded with the quote below:

 

“…Trading appeals to so many of us. It generates a sense of freedom – a notion that we can do it from anywhere at anytime. The engagement with the market is at our own timing and on our own terms. We can in essence wander in and out whenever we want. Our movement is not at the behest of someone else and it not set according to their timetable. The nomad in us is fulfilled as a trader.” – Chris Tate

 

Source: www.tallinex.com

 

 

 

 

 

[⭐ analyst75]

Weekly Trading Forecasts for Major Pairs (June 4 - 8, 2018)       

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

The pair trended downwards in the first few days of last week, and then started a bullish correction on May 30. Price went upwards by 200 pips in the context of a downtrend, but the movement was not significant enough to override the extant bearishness in the market (except the resistance line at 1.1800 is exceeded). The outlook for EUR pair is strongly bearish for this week and for this month, and so bulls should be careful.

 

USDCHF

Dominant bias: Bearish

USDCHF has been moving downwards in the past few weeks; which was an unusual thing, considering the fact that it usually goes in a negative correlation with EURUSD. However, the situation will change this week, as USD is expected to begin gathering stamina at some point (before the end of the week). This would aid a strong bullish reversal in USDCHF and put more bearish pressure on EURUSD.

 

 

GBPUSD

Dominant bias: Bearish

Cable has been trending southwards for almost two months: Therefore the shallow rally that was seen on Friday is a totally insignificant thing. Price has dropped about 1,100 pips since April 17, and that is just the beginning. The outlook on GBP pairs is mostly bearish for June, and as a result, directional long trades may not make much sense this month. GBPUSD tends to go into positive correlation with EURUSD, and the accumulation territories at 1.3300, 1.3250 and 1.3200 would be reached before the end of the week.

 

USDJPY

Dominant bias: Bullish

This trading instrument is bullish in the long –term, but bearish in the short-term. Since March 26, a long-term bullish journey started, but short-term bearish effort was also started on May 21. The short-term bearishness is still in place and it is supposed to override the long-term bullish bias on the market. This is because there is a very strong bearish outlook on JPY pairs this month, and so, USDJPY would eventually become like other JPY pairs, which are already bearish.

 

 

EURJPY

Dominant bias: Bearish   

There is a Bearish Confirmation Pattern in this market, as a result of a vivid weakness that began in the market in April 16. Price has shed roughly 700 pips since then. Last week, the bearish journey continued as price rammed into the demand zone at 125.00, and then bounced upwards (300 pips), without being able to form a confirmed bullish bias. This week, a bearish reversal is expected, because of the weakness in EUR and owing to the bearish outlook on JPY pairs.

 

 

GBPJPY

Dominant bias: Bearish

In the first half of last week, this cross dropped and then started rising in the second half of the week. However, the major bias remains bearish and the rally that was seen was an opportunity to sell short dearly. Since GBP is weak and JPY is expected to gain further stamina, a bearish movement of at least 500 pips is expected in the month of June, and that may start before the end of this week. 

 

This forecast is concluded with the quote below:

 

“You have to study the markets and learn how to take out profits from the market action… You can build up your trading skills through practice and experience and feel good knowing that you have mastered a skill that few have developed.” – Joe Ross  

 

Source: www.tallinex.com

 

 

 

 

[⭐ analyst75]

Weekly Trading Forecasts for Major Pairs (June 11 - 15, 2018)       

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

This pair is bearish in the long-term, and bullish in a very short-term. Since May 30, price has been making a measure of bullish attempt (save the correction that was witnessed on Friday). A movement above the resistance lines at 1.1850, 1.1900 and 1.1950 will bring about a long-term bullish outlook on the market. On the other hand, a movement below the support lines at 1.1650, 1.1600 and 1.1550, will cancel the short-term bullishness in the market, while strengthening the major bearish outlook.

 

USDCHF

Dominant bias: Bearish

The market has been caught in a slow and gradual bearish movement since May 10 (over 230 pips). It is possible that the market would continue going further downwards (albeit slowly), especially when EURUSD gains a lot of stamina. The support levels at 0.9800 (which has previously been tested), 0.9750 and 0.9700, would be reached soon, and that might bring about a strong Bearish Confirmation Pattern in the market.

 

 

GBPUSD

Dominant bias: Bearish

Although there is currently a bearish trend in the market, price made faint effort to go upwards last week. It is much more likely that the faint bullish effort will eventually translate into a significant rally this week, because the outlook on GBP pairs is bullish. The distribution territories at 1.3450, 1.3500 and 1.3550 would be reached. This will eventually invalidate the bearish bias on the market, as everything turns bullish.

 

USDJPY

Dominant bias: Bullish

This trading instrument is bullish in the long-term, but neutral in the short-term. In the last two weeks, price has generally oscillated between the demand level at 108.50 and the supply level at 110.50. As long as price continues to oscillate between those demand and supply levels, the short-term bias would be neutral. A break above the supply level at 110.50 will result in confirmation of the existing long-term bullish outlook while a break below the demand level at 108.50 will result in a clean bearish outlook.

 

 

EURJPY

Dominant bias: Bullish    

The bias on the EURJPY has just turned bullish.  Since May 30, price has rallied by 500 pips, reaching the supply zone at 130.00, before the current bearish correction (which happened on June 8). A test of the demand zone at 127.50 will threaten the new bullish bias on the market; while a movement towards the supply zones at 129.50, 130.00 and 130.50 will strengthen it. There will be a measure of volatility in the market this week.

 

 

GBPJPY

Dominant bias: Bullish  

Although a bearish correction was experienced on Thursday and Friday, the bias on the market remains bullish.  A sideways movement throughout this week will bring about a neutral bias on the market. A drop of 150 – 200 pips will result in a bearish signal, while a movement towards the supply zones at 147.50, 148.00 and 148.50, will save the ongoing bullish outlook on the market. It is much more likely that bulls would be able to hold out this week.

 

This forecast is concluded with the quote below:

 

“Once you know how to trade, no-one and nothing can sweep aside your skill. It’s something you can do no matter how old you are. As long as you have a dream in your heart that you yearn for, the sun never has to set on your identity as a ‘trader’.” – Louise Bedford

 

Source: www.tallinex.com

 

 

 

 

[⭐ analyst75]

Weekly Trading Forecasts for Major Pairs (June 18 - 22, 2018)       

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

The market began the current strong bearish movement in April. This month (especially from early June), price consolidated till June 14, before the large pullback we are currently witnessing. The large pullback has put more emphasis on the dominant bearish bias; thus price is expected to go further southwards this week, reaching the support lines at 1.1600 (an easy target), 1.1550 and 1.1500.

 

USDCHF

Dominant bias: Bearish

This pair is bearish in the long-term, but bullish in the short-term. It is somewhat weird that both USDCHF and EURUSD have been bearish for some time, but the situation seems about to change. On June 14, there was a sudden bullish breakout, which was strong enough to bring about a short-term bullish signal. There is a possibility that price could keep on going northwards this week, reaching the resistance levels at 1.0000 (an important level), 1.0050 and 1.0100. However, an exceptionally strong buying pressure would be needed for the resistance level at 1.0100 to be reached.

 

 

GBPUSD

Dominant bias: Bearish

In the first week of June, Cable consolidated in the context of a downtrend. The same thing happened last week…. before the bearish movement that occurred on Thursday, which points to bears’ supremacy. The weakness in the market is currently visible and since the outlook on GBP pairs is bearish for this month, further southwards movement is expected, which would enable price to reach the accumulation territories at 1.3250, 1.3200 and 1.3150.

 

USDJPY

Dominant bias: Bullish

USDJPY managed to go upwards last week, and it was able to close above the demand level at 110.50 on Friday. There is a Bullish Confirmation Pattern in the market, which points to the possibility of price going towards the supply levels at 111.00, 111.50 and 112.00. Nonetheless, the further northwards the market goes, the greater the potential of a strong pullback, which can happen before the end of the week.  

 

 

EURJPY

Dominant bias: Bearish   

The pullback that occurred on April 14 points to the fact that bears are still a force to reckon with. The major bias on the market is bearish, and since EUR is currently weak, price is supposed to continue moving downwards. The outlook on JPY is bearish for this week – another factor that may contribute to continuous weakness in the market. The next targets are the demand zones at 128.00, 127.50 and 127.00.

 

GBPJPY

Dominant bias: Bullish  

This trading instrument simply moved in a range last week. Price ranged between the supply zone at 148.00 and the demand zone at 146.00. This week, either the supply zone or the demand zone would be breached forcefully as price assumes a strong, directional movement. The most likely direction is bearish (which may invalidate the extant bullish bias), and that may enable price to reach the demand zones at 146.50, 146.00 and 145.50.

 

This forecast is concluded with the quote below:

 

“Trading is a process-oriented endeavor for those who are serious about becoming and remaining a consistently successful trader.” – Dr. Woody Johnson, not used

 

Source: www.tallinex.com

 

 

 

 

[⭐ analyst75]

Weekly Trading Forecasts for Major Pairs (June 25 - 29, 2018)       

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

The market swung upwards and downwards last week, without a directional movement. Nevertheless, the major bias remains bearish, and the outlook on EUR pairs is mostly bearish for this week. It is possible that price will test the support lines at 1.1600, 1.1550 (which were previously tested last week). Price may also reach the support line at 1.1500, and possibly breach it to the downside. But that will require a heavy selling pressure.

 

USDCHF

Dominant bias: Bearish

Price went sideways from Monday to Wednesday, and fell on Thursday and Friday, corroborating the outgoing bearish outlook on the market. Both USDCHF and EURUSD are currently bearish: But protracted bearish pressure on the latter may help a bullish signal to be generated on the former. There are support levels at 0.9850 and 0.9800. There are also resistance levels at 0.9900 and 0.9950.

 

GBPUSD

Dominant bias: Bearish

In the context of a downtrend, price went further southwards, shedding 160 pips and almost testing the accumulation territory at 1.3100. There was an upwards bounce on Thursday, but that would be an opportunity to sell short at higher prices (unless the distribution territory at 1.3400 is breached to the upside). GBP pairs (as well as other major pairs) will experience high volatility this week, and also in the first week of July.

 

USDJPY

Dominant bias: Neutral

The long-term bias is bullish, but the short-term bias is bearish. Throughout last week, price meandered between the demand level at 109.50 and the supply level at 111.00. Should price continue to move within the confines of the aforementioned demand and supply levels, the short-term bias would remain neutral. Once the confines are breached, a directional movement will resume, and it could most likely favor bulls.

 

EURJPY

Dominant bias: Bearish   

Just like its USDJPY counterpart, this cross mostly ranged last week (though the recent bias on the market is bearish). For the ranging movement to end, it is either price will breach the demand zone at 127.00 to the downside (going further downwards), or price would need to breach the supply zone at 129.00 to the upside (going further upwards). One of these conditions must be met for the bearish bias to be supported or invalidated; otherwise the trend would become neutral.

 

GBPJPY

Dominant bias: Bearish  

This cross underwent a heavy selling pressure on July 18 and 19, but bulls pushed price upwards on July 20 and 21. There remains a Bearish Confirmation Pattern in the market, and it would be invalidated only when price moves upwards by 500 pips from here. On the other hand, price could continue falling towards the demand zones at 145.00, 144.50 and 144.00. Price could even go further downwards than that.

 

 This forecast is concluded with the quote below:

 

“Trading is a process-oriented endeavor for those who are serious about becoming and remaining a consistently successful trader.” – Dr. Woody Johnson

 

 

Source: www.tallinex.com

 

 

[Guest FXTechstrategy]

EURUSD: Sets Up To Strengthen Further

EURUSD: The pair rejected lower prices to close higher the past week. On the upside, resistance comes in at 1.1700 level with a cut through here opening the door for more upside towards the 1.1750 level. Further up, resistance lies at the 1.1800 level where a break will expose the 1.1850 level. Conversely, support lies at the 1.1600 level where a violation will aim at the 1.1550 level. A break of here will aim at the 1.1500 level. Below here will open the door for more weakness towards the 1.1450. All in all, EURUSD faces further upside pressure but with caution  of a recovery.
 

[⭐ analyst75]

Weekly Trading Forecasts for Major Pairs (July 2 – 6, 2018)       

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

The market is bearish, but price was not able to go downwards seriously last week. Thus the market is bearish in the long-term, but neutral in the short-term. A strong opposition was particularly met at the support line at 1.1550, after which price bounced off the support line. However, that would turn out to be an opportunity to go short at a better price, for the outlook on EUR pairs is bearish for this week. One major task for bears is to break the support line at 1.1550 to the downside, as price goes further downwards.

 

 

USDCHF

Dominant bias: Neutral  

The bias on this pair has become neutral, especially in the face of the fact that USDCHF was characterized by trendlessness throughout June. Last week, price went upwards, to move above the resistance level at 0.9950, and then moved below that resistance (now close to the support level at 0.9900). As long as EURUSD remains weak, there will not be a significant bearish movement on USDCHF pair this week (although the pair will eventually give way to bearish pressures before the end of July).

 

GBPUSD

Dominant bias: Bearish

The market went smoothly downwards, testing the accumulation territory at 1.3050 (over 200 pips of bearish movement). After testing the accumulation territory at 1.3050, price rallied seriously and closed above the accumulation territory at 1.3200. The outlook on GBP pairs is bearish for this week, so a movement towards the accumulation territories at 1.3200, 1.3150 and 1.3100 are highly anticipated. There could even be a movement below the accumulation territory at 1.3100.

 

USDJPY

Dominant bias: Bearish

A Bullish Confirmation Pattern is present on the USDJPY. In the short-term, price rallied from the demand level at 109.50, to close above the demand level at 110.50 on Friday. This week, there could be further upwards movement towards the supply levels at 111.00 and 111.50. However, price is not expected to go further upwards than that because the outlook on certain JPY pairs is bearish for the month of July.

 

EURJPY

Dominant bias: Bearish   

This cross is bearish in the long-term, and bullish in the short-term. In short-term, a movement above the demand zone at 129.00 has resulted in a ‘buy” signal, which could enable price to reach the supply zones at 129.50 and 130.000, However, any movement to the upside would be limited, partly because of the ongoing weakness in EUR, which means price could also be retraced lower before the end of this week.

 

GBPJPY

Dominant bias: Bearish  

Owing to the present Bearish Confirmation Pattern in the chart, the bias on this trading instrument is bearish, but the strong bullish surge that was witnessed on Friday has posed a threat to the bearish outlook. On Thursday and Friday, price gained 250 pips, after testing the demand zone at 144.00. Should price gain another 200 pips this week, things will turn completely bullish. On the other hand, a downward movement from here would save the bearish bias.

 

 

 This forecast is concluded with the quote below:

 

 

“There are opportunities… It’s a matter of seeking them out, in the biggest playground of all... the markets.” – Louise Bedford  

 

Source: www.tallinex.com

 

 

 

[⭐ analyst75]

Weekly Trading Forecasts for Major Pairs (July 9 - 13, 2018)       

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

The market is bearish in the long-term, and bullish in the short-term. Last week, after testing the support line at 1.1600, price went upwards by 150 pips, to test the resistance line at 1.1750. Price can still go further upwards towards the resistance lines at 1.1800 and 1.1850. However, a strong buying pressure is needed to reach the resistance line at 1.1850. A southwards movement from here would render this expectation invalid.

 

 

USDCHF

Dominant bias: Neutral  

The market is virtually flat. Since the past two weeks, price has moved between the support level at 0.9850 and the resistance level at 1.0000. As long as price moves between the aforementioned support and resistance levels, things will remain neutral. This week, it is not likely that price would break the support level at 0.9850 to the downside; or break the resistance level at 1.0000 to the upside, because much volatility is not expected in the market this week. However, before the end of the month, a rise in momentum is expected, which would create a directional bias.

 

 

GBPUSD

Dominant bias: Bearish

GBPUSD Is bearish in the long-term, and bullish in the short-term, just like EURUSD. Since testing the accumulation territory at 1.3100, price has gone upwards by roughly 200 pips, closing above the accumulation territory at 1.3250 and aiming the distribution territory at 1.3300. Nonetheless, the major outlook remains bearish, which means the market needs to gain, at least, another 300 pips, before the bias can turn bullish.

 

USDJPY

Dominant bias: Bullish

Since March 26, the market has been going northwards slowly and gradually. Right now, the bullish bias is weak, although bears have not been able to push price lower significantly. There was an attempt to go south last week, after the supply level at 111.00 was tested. Price closed slightly below the supply level at 110.50, and it may go towards the demand level at 110.00, where bearish effort should be contained, just for the bullish bias to be saved.

 

EURJPY

Dominant bias: Neutral  

This cross is bullish in the short-term, and neutral in the long-term. Some bullish effort started around the end of June, and it has been upheld till now. In the short-term, price could move upwards and downwards, within the supply zone at 131.00 and the demand zone at 128.00. Price may not be able to go beyond these boundaries because much volatility is not expected this month, unless some fundamental figure causes a radical change in the market.

 

GBPJPY

Dominant bias: Bullish

Since June 28, this trading instrument has been going upwards, leading to a bullish bias in the short-term (a Bullish Confirmation Pattern). Last week ended on a bullish note and it is probable that price would continue going upwards, reaching the supply zones at 147.00, 147.50 and 148.00. There would be a reversal along the way, which would, nevertheless, not be serious enough to invalidate the ongoing bullish bias.

 

 

 This forecast is concluded with the quote below:

 

 

“But in trading, often the best solution is the simplest...” - Michael Carr

 

Source: www.tallinex.com

[⭐ analyst75]

Weekly Trading Forecasts for Major Pairs (July 16 - 20, 2018)       

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

In the long-term, the pair is bearish, and last week was bearish too. Price dropped by 140 pips, moved briefly below the support line at 1.1650, and then closed above it. This week, there could be a test of the support lines at 1.1650 and 1.1600, but they may not be broken to the downside because price has a high probability of going northwards, reaching the resistance lines at 1.1700, 1.1750 and 1.1800.

 

 

USDCHF

Dominant bias: Bullish  

Last week, owing to a sudden surge of stamina in USD, the pair skyrocketed, reaching the high of 1.0066. The test of that high is significant because the last time price reached that level was May 2017. Since the high of the year (1.0066) was tested, price has shown a sharp reversal, shedding 60 pips and closing at 1.0002 on July 13. Price might attempt to go further upwards, but it would encounter stiff opposition around the high of 1.0066. Even there will be stiffer opposition above the high of the year, like the resistance levels at 1.0150, 1.0200 and 1.0250. Movement towards the south may be more visible this week.

 

 

GBPUSD

Dominant bias: Bearish

In the long-term, Cable is bearish, and last week was bearish too. From the distribution territory at 1.3350, price dropped by 250 pips, and almost touched the accumulation territory at 1.3100, and then closed above the accumulation territory at 1.3200. This week, there could be a test of the accumulation territories at 1.3200 and 1.3150, but they may not be broken to the downside because price has a high probability of going northwards, reaching the distribution territories at 1.3250, 1.3300 and 1.3350.

 

USDJPY

Dominant bias: Bullish

Last week was bullish. In fact, the market has been going upwards since March 26, and it has gained close to 800 pips. A clean bullish run has taken price towards the supply level at 112.50 and there is a lot of trading activity around that level, as bears are making attempt to effect a bearish reversal. There are demand levels at 112.00, 111.50 and 111.00. However, price could go upwards to reach the supply levels at 113.50, 114.00 and 115.00.

 

EURJPY

Dominant bias: Bullish  

This cross has become a bull market in the medium-term. Price gained 180 pips last week (it has gained over 650 pips since May 25), and managed to closed above the demand zone at 131.00. Short trades are not recommend in this market, owing to the Bullish Confirmation Pattern in it, and owing to the bullish outlook on EUR for this week and next. Price is thus expected to continue going upwards, reaching the supply zones at 131.50, 132.00 and 132.50.

 

GBPJPY

Dominant bias: Bullish

GBPJPY is a volatile market, though with a Bullish Confirmation Pattern present in it. This month has been bullish so far (the bullish movement started late June and it has been upheld till now). Having gained 500 pips since June 28, there is still much room for bulls to shine. This week, another 200 pips can be gained amid high volatility. Nonetheless, this does not rule out possibility of bears overpowering bulls along the way.  

 

 

 This forecast is concluded with the quote below:

 

“You should not draw the conclusion that winning traders are reckless. They aren't. They approach trading systematically. They develop clearly defined trading plans and they trade them. They wait for market conditions that increase their odds of success. But most of all, they have a positive attitude. They know that if they do their homework and make enough trades, they will take home a profit.” – Joe Ross

 

 

Source: www.tallinex.com

 

 

 

[⭐ analyst75]

Weekly Trading Forecasts for Major Pairs (July 23 - 27, 2018)       

 

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Neutral  

Price made a bullish attempt on Monday, but started coming down afterwards. The support line at 1.1600 was tested and price bounced off it, closing above another support line at 1.1700. The market is neutral, and that status will continue as long as price oscillates between the support line at 1.1550 and the resistance line at 1.1800. However, the neutrality in the market will soon end, and ensuing movement could most probably favor bulls. This means a break above the resistance line at 1.1800 is possible before the end of the week.

 

USDCHF

Dominant bias: Neutral

This pair also went downwards at the beginning of last week, and then rallied around the middle of the week, only to come downward again at the end of the week. Price closed below the resistance level at 0.9950, threatening to go further downwards. The bias on the market is eventually neutral, and it would remain so until the support level at 0.9850 is breached to the downside. The most probable direction is southwards.

 

GBPUSD

Dominant bias: Bearish

GBPUSD is a weak trading instrument. Since April 14, price has been going downwards. Price moved briefly below the accumulation territory at 1.3000, and then rallied by 170 pips, almost reaching the distribution territory at 1.3150. The bias remains essentially bearish (but perpetual bullish effort could threaten the bearish bias). There are additional distribution territories 1.3200, 1.3250 and 1.3300.

 

USDJPY

Dominant bias: Bullish

After testing the supply level at 113.00 several times, a bearish correction was started, which made the price close below the supply level at 111.50 on July 20 (a drop of 150 pips). The bias is bullish in the long-term, but going bearish in the short-term. Things will go completely bearish when price moves further downwards by another 200 pips, reaching the demand levels at 111.00, 110.50 and 110.00, and going further downwards.

 

EURJPY

Dominant bias: Bullish  

The market had been going upwards since June 28 until recently. The recent bias is bullish but there is a high possibility of price going bearish. Price has made a bearish U-turn, after almost reaching the supply zone at 132.00. It is expected that price will continue to go downwards this week, thereby rendering the recent bullish bias invalid and reaching the demand zones at 130.00, 129.50 and 129.00. Those demand zones may even be exceeded before the end of July.

 

GBPJPY

Dominant bias: Bearish

There is a Bearish Confirmation Pattern in the market, as a result of a drop of 300 pips last week. The drop has already generated a bearish signal in the market, brought about by the perceived weakness in GBP, and the strength in JPY. This week (even till the end of July), the outlook on JPY pairs is bearish, and that means GBPJPY also will experience further bearish movement, which would enable it to reach the demand zones at 145.50, 140.00 and 135.50.   

 

 

 This forecast is concluded with the quote below:

 

“A surprising insight for me in Jack Schwager’s Market Wizards was that most of the top traders he interviewed are 1-trick ponies: they do one thing — and they do it very well. Their success was built upon their ability to discover what others overlooked. I concluded that ‘doing one thing well’ would immediately simplify my trading life and could eventually evolve one thing into an important trading edge.” – VTI

 

Source: www.tallinex.com