Weekly Trading Forecasts on Major Pairs

  • Weekly Trading Forecasts on Major Pairs (August 31 – September 4, 2015)

    Here’s the market outlook for the week:

    EURUSD
    Dominant bias: Bullish
    Last week witnessed the greatest volatility in the markets since January 15, 2015. Between August 19 – 24, price went upwards by 680 pips, topping at the resistance line of 1.1700. Immediately the resistance line was tested, price began to retrace steadily and gradually. From the weekly high of 1.1700, price has gone downwards by 520 pips; thereby threatening the recent bullish bias. The threat to the bullish bias is so serious that a movement below the support line at 1.1100 would ultimately result in a bearish outlook.

    USDCHF
    Dominant bias: Bearish
    From August 19 – 24, this pair plunged by 500 pips in what can be called the biggest USDCHF move in the last few months. From August 25 till now, price has nevertheless, rallied by over 300 pips, which is another threat to the existing bearish outlook on the market. In case price goes above the resistance level at 0.9700, things would turn cleanly bullish; whereas failure to do that could strengthen the existing bearish outlook. Since the outlook on CHF is bearish for the month of September, bulls would be having some difficulties pushing USDCHF upwards.

    GBPUSD
    Dominant bias: Bearish
    When the hope of a weak GBPUSD was almost dashed for the month of August 2015, the pair eventually became weak. This formerly trudging pair managed to test the distribution territory at 1.5800 before bulls lost all their power. From that distribution territory, price nosedived by 450 pips, reaching the accumulation territory at 1.5350. This means that bears are the overall winners on GBPUSD in the month of August, since their action overturned all the bullish gains for the month. In September, we will see very serious volatility on GBPUSD (and of course on all GBP pairs), coupled with fast bearish and bullish movements.

    USDJPY
    Dominant bias: Bearish
    The expectation of a bearish USDJPY pair for the month of August eventually materialized; and so was the bearish outlook on some other JPY pairs. From August 19 – 24, price plummeted by 800 pips, going briefly below the demand level at 116.50. Since then, price has been making a noteworthy bullish recovery - a movement of 500 pips. Should the price move further upwards by another 200 pips this week, the bearish outlook would be rendered ineffectual. However, an upward movement of 200 pips could be difficult to achieve because it is expected that most JPY pairs would be bearish for most of the time in the month of September (with a few exceptions); and USDJPY would not be different.

    EURJPY
    Dominant bias: Bearish
    Owing to the strength in Yen, which was already anticipated, EURJPY fell sharply, resulting in a Bearish Confirmation Pattern. Though there is an ongoing struggle between bull and bear, price was able to attain the demand zone at 135.50 last week, in a downward movement of 300 pips. The demand zone at 135.50 was battered several times without being permanently penetrated. That demand zone ought to be breached this week or next so that the bearish bias can continue to make sense.

    This forecast is concluded with the quote below:

    “The market provides the greatest opportunity on earth for financial reward. It also teaches great lessons… It is the greatest game on earth.” – Mark Minervini (a trading legend)


    What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html
  • Weekly Trading Forecasts on Major Pairs (September 7 - 11, 2015)

    Here’s the market outlook for the week:

    EURUSD
    Dominant bias: Bearish
    Though EURUSD consolidated in the most part of last week, the bias on the market is bearish, for bullish pressure has seriously lost steam. The pair has consolidated to the downside and it might reach the support lines at 1.1100 and 1.1050. Nonetheless, bulls will make desperate effort to push the pair higher this week, and there is a high probability that their effort may yield some result. Any movement above the resistance line at 1.1350 would indicate that bulls have achieved their aim. Should EUR gain lots of stamina this week, the effect would be noticed on other EUR pairs.

    USDCHF
    Dominant bias: Bullish
    USDCHF went up by 150 pips last week, running into a barrier at a resistance level of 0.9750. Bulls made several abortive attempts to break that barrier before the market closed on Friday. For the bullish bias to continue making sense, the barrier at 0.9750 must be overcome. That mean price would need to target the resistance levels at 0.9800 and 0.9850. On this pair, there could be two possible obstacles to bulls’ interests: (1) Any rally on EURUSD could send USDCHF south. (2) In case CHF gains enough strength (which is possible this month), USDCHF would experience some difficulties going forward.

    GBPUSD
    Dominant bias: Bearish
    Since August 25, this market has dropped by 630 pips, following a test of the distribution territory at 1.5800. Price is now close to the accumulation territory at 1.5150; plus it could even reach other accumulation territories at 1.5100 and 1.5050. However, the market looks overbought, and while the aforementioned accumulation territories could be reached, a serious rally would not be a surprise (if it happens) this week. It should be noted that movements on GBPUSD (and other GBP pairs) would be significant this month, whether they go up or down.

    USDJPY
    Dominant bias: Bearish
    USDJPY went down by over 230 pips last week, closing at 118.97 on Friday. There is a Bearish Confirmation Pattern in the market – the bearish trend ought to continue. This week, price could attain the demand levels at 118.50 and 118.00, providing that JPY is able to maintain its current strength versus USD; otherwise there could be a bullish breakout.

    EURJPY
    Dominant bias: Bearish
    There was a strong bearish movement on this cross last week. From the supply zone at 136.00, price went down to reach the demand zone at 132.50. This is a movement of 350 pips. The bearish movement looks overextended, though there could be more bearish movement this week. On the other hand, there is also a possibility of a strong breakout to the upside before the end of the week.

    This forecast is concluded with the quote below:

    “When you make an unshakable commitment to a way of life, you put yourself way ahead of most others in the race for success. Why? Because most people have a natural tendency to overestimate what they can achieve in the short run and underestimate what they can accomplish over the long haul. They think they have made a commitment, but when they run into difficulty, they lose steam or quit. Most people get interested in trading but few make a real commitment. The difference between interest and commitment is the will not to give up. When you truly commit to something, you have no alternative but success. Getting interested will get you started, but commitment gets you to the finish line.” - Mark Minervini, a trading legend (Source: Tradersonline-mag.com)

    What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html
  • Weekly Trading Forecasts on Major Pairs (September 14 - 18, 2015)

    Here’s the market outlook for the week:

    EURUSD
    Dominant bias: Bullish
    As it was mentioned in the last forecast, bulls made effort to push EURUSD upwards, and they were successful in doing that. Before this, the market consolidated for the first few days of the last week and then broke upwards, giving the resistance line at 1.1350 a close marking. In case the resistance line is broken to the upside, the next targets for bulls are located at the resistance lines at 1.1450 and 1.1500.

    USDCHF
    Dominant bias: Bullish
    This currency trading instrument moved largely sideways last week, not going above the resistance level at 0.9800 or going below the support level at 0.9650. Bulls made futile attempts to go above the resistance level at 0.9800, and also, bears were unable to dominate the market. Looking more closely at the current price action, it can be seen that the market has started threatening to break down. Nonetheless, the impending breakdown would not be taken serious unless the support level at 0.9600 is breached to the downside. Two factors will determine the direction on this currency trading instrument this week: What happens to EURUSD (which will most probably move further north) and/or the situation around CHF (which could make it strong this month).

    GBPUSD
    Dominant bias: Bullish
    GBPUSD made sincere effort to go upwards last week – with a measure of success. It is possible that the pair would continue moving upwards this week, owing to the presence of a Bullish Confirmation Pattern in the market. The distribution territory at 1.5450 has already been tested and it could be broken to the upside. GBPUSD could move further north by at least, 200 pips this week.

    USDJPY
    Dominant bias: Neutral
    Apart from a slight upward movement, there was no clear direction on USDJPY last week. Price closed at 120.57 on Friday, in a consolidating mode; and there can be a breakout in any day of this week. Price would either break above the supply level at 121.50 or break below the demand level at 119.50. That is when there will be a directional movement.

    EURJPY
    Dominant bias: Bullish
    This EURJPY cross is now one of the most predictable instruments among the majors which moved in a directional mode last week. The EURJPY cross moved north by 400 pips, now close to the supply zone at 137.00. Given the ongoing weakness in Yen and strength in EUR, there is a high possibility that the uptrend would continue, enabling the supply zone at 139.00 to be attained before the end of this week.

    This forecast is concluded with the quote below:

    “I have everything that I need to live well, that is true, but I enjoy the mental stimulation and the challenge [trading offers]. I can see myself still trading when I turn 100.” – Paul Nojin

    What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html
  • Weekly Trading Forecasts on Major Pairs (September 21 - 25, 2015)

    Here’s the market outlook for the week:

    EURUSD
    Dominant bias: Bullish
    Though this pair was trendless in the first few days of last week, it was characterized by high volatility on Thursday and Friday. Price moved upwards On Thursday and got corrected downwards on Friday. However, the outlook on the pair is bullish: we may witness further bullish journey this week (which may also happen on most other EUR pairs). Price could reach the resistance lines at 1.1450 and 1.1550 this week.

    USDCHF
    Dominant bias: Bearish
    USDCHF also consolidated in the first few days of last week, broke down on Thursday and bounced upwards on Friday. The overall bias remains bearish, nonetheless. As long as EURUSD is strong and CHF refuses to yield to gravity in a significant mode, it would be difficult for USDCHF to experience any meaningful rally. The resistance level at 0.9800 is a strong barrier to the bulls.

    GBPUSD
    Dominant bias: Bullish
    From the accumulation territory at 1.5350, this currency trading instrument moved upwards by 300 pips, testing the distribution at 1.5650. From that distribution territory, the trading instrument has been corrected lower by 110 pips. Price could find it difficult going further upwards this week, but the uptrend would be valid as long as the accumulation territory at 1.5350 is not broken to the downside.

    USDJPY
    Dominant bias: Neutral
    There is no yet a clear direction on USDJPY, for price did not make any large directional movement last week. There can be a serious breakout this week; which would most probably favor the bears, owing to a measure of weakness in USD and a bearish expectation on certain JPY pairs. There are demand levels at 119.00 and 118.50. There are also supply levels at 121.50 and 122.00.

    EURJPY
    Dominant bias: Bullish
    In spite of the bearish correction that occurred on Friday, there is still a Bullish Confirmation Pattern in the market, which would not be violated until price crosses the demand zone at 134.50 to the downside. For the EURJPY to trend upward this week there must be an exceptional stamina in EUR as well as a measure of weakness in JPY – otherwise a serious bearish movement could start before the end of the week.

    This forecast is concluded with the quote below:

    “Yes, my profits and losses are ultimately nothing more than a “productivity report.” – Dan Gamza

    What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html
  • Weekly Trading Forecasts on Major Pairs (September 21 - 25, 2015)

    Here’s the market outlook for the week:

    EURUSD
    Dominant bias: Bullish
    Though this pair was trendless in the first few days of last week, it was characterized by high volatility on Thursday and Friday. Price moved upwards On Thursday and got corrected downwards on Friday. However, the outlook on the pair is bullish: we may witness further bullish journey this week (which may also happen on most other EUR pairs). Price could reach the resistance lines at 1.1450 and 1.1550 this week.

    USDCHF
    Dominant bias: Bearish
    USDCHF also consolidated in the first few days of last week, broke down on Thursday and bounced upwards on Friday. The overall bias remains bearish, nonetheless. As long as EURUSD is strong and CHF refuses to yield to gravity in a significant mode, it would be difficult for USDCHF to experience any meaningful rally. The resistance level at 0.9800 is a strong barrier to the bulls.

    GBPUSD
    Dominant bias: Bullish
    From the accumulation territory at 1.5350, this currency trading instrument moved upwards by 300 pips, testing the distribution at 1.5650. From that distribution territory, the trading instrument has been corrected lower by 110 pips. Price could find it difficult going further upwards this week, but the uptrend would be valid as long as the accumulation territory at 1.5350 is not broken to the downside.

    USDJPY
    Dominant bias: Neutral
    There is no yet a clear direction on USDJPY, for price did not make any large directional movement last week. There can be a serious breakout this week; which would most probably favor the bears, owing to a measure of weakness in USD and a bearish expectation on certain JPY pairs. There are demand levels at 119.00 and 118.50. There are also supply levels at 121.50 and 122.00.

    EURJPY
    Dominant bias: Bullish
    In spite of the bearish correction that occurred on Friday, there is still a Bullish Confirmation Pattern in the market, which would not be violated until price crosses the demand zone at 134.50 to the downside. For the EURJPY to trend upward this week there must be an exceptional stamina in EUR as well as a measure of weakness in JPY – otherwise a serious bearish movement could start before the end of the week.

    This forecast is concluded with the quote below:

    “Yes, my profits and losses are ultimately nothing more than a “productivity report.” – Dan Gamza

    What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html
  • Weekly Trading Forecasts on Major Pairs (September 21 - 25, 2015)

    Here’s the market outlook for the week:

    EURUSD
    Dominant bias: Bullish
    Though this pair was trendless in the first few days of last week, it was characterized by high volatility on Thursday and Friday. Price moved upwards On Thursday and got corrected downwards on Friday. However, the outlook on the pair is bullish: we may witness further bullish journey this week (which may also happen on most other EUR pairs). Price could reach the resistance lines at 1.1450 and 1.1550 this week.

    USDCHF
    Dominant bias: Bearish
    USDCHF also consolidated in the first few days of last week, broke down on Thursday and bounced upwards on Friday. The overall bias remains bearish, nonetheless. As long as EURUSD is strong and CHF refuses to yield to gravity in a significant mode, it would be difficult for USDCHF to experience any meaningful rally. The resistance level at 0.9800 is a strong barrier to the bulls.

    GBPUSD
    Dominant bias: Bullish
    From the accumulation territory at 1.5350, this currency trading instrument moved upwards by 300 pips, testing the distribution at 1.5650. From that distribution territory, the trading instrument has been corrected lower by 110 pips. Price could find it difficult going further upwards this week, but the uptrend would be valid as long as the accumulation territory at 1.5350 is not broken to the downside.

    USDJPY
    Dominant bias: Neutral
    There is no yet a clear direction on USDJPY, for price did not make any large directional movement last week. There can be a serious breakout this week; which would most probably favor the bears, owing to a measure of weakness in USD and a bearish expectation on certain JPY pairs. There are demand levels at 119.00 and 118.50. There are also supply levels at 121.50 and 122.00.

    EURJPY
    Dominant bias: Bullish
    In spite of the bearish correction that occurred on Friday, there is still a Bullish Confirmation Pattern in the market, which would not be violated until price crosses the demand zone at 134.50 to the downside. For the EURJPY to trend upward this week there must be an exceptional stamina in EUR as well as a measure of weakness in JPY – otherwise a serious bearish movement could start before the end of the week.

    This forecast is concluded with the quote below:

    “Yes, my profits and losses are ultimately nothing more than a “productivity report.” – Dan Gamza

    What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html
  • Weekly Trading Forecasts on Major Pairs (September 28 – October 2, 2015)

    Here’s the market outlook for the week:

    EURUSD
    Dominant bias: Bearish
    This pair fell 200 pips last week, almost touching the support line at 1.1100. Afterwards, price bounced upwards by 180 pips and then got corrected lower. The price action in the market reveals that bulls are still making noticeable effort to push the price upwards, all in the context of a downtrend. This week, serious volatility would be witnessed as bulls continue to make more bullish effort, which would not jeopardize the extant bearish bias until the resistance line at 1.1300 is overcome.

    USDCHF
    Dominant bias: Bullish
    USDCHF moved upwards in a directionally mode last week, breaking above the resistance level at 0.9800, but closing below it at the end of the week. The short-selling that occurred on September 24, 2015 simply provided an opportunity to go long at better prices. Unless EURUSD experiences a significant bullish movement, USDCHF cannot plunge significantly. So whatever would happen to USDCHF this week would be determined by the movement of EURUSD.

    GBPUSD
    Dominant bias: Bearish
    Last week, this pair dropped almost 400 pips, testing the accumulation territory at 1.5150. Last week, it was mentioned that the pair would have difficulty going upwards: That statement is also valid for this week. Any rallies that happen on this pair would be good opportunities to sell short at better prices. Another southwards movement of at least, 200 pips, is expected this week. So that accumulation territories at 1.5100 and 1.5000 are potential targets.

    USDJPY
    Dominant bias: Neutral
    There is not yet any directional movement on this currency trading instrument and it would be nice for swing and position traders to stay away from it until there is a strong breakout. However, this instrument is currently great for scalpers and intraday traders. Before a breakout can be termed as being strong here, there must be a bearish or a bullish movement of at least, 300 pips. Most of the month of September 2015 has been trendless.

    EURJPY
    Dominant bias: Bearish
    EURJPY cross first moved downwards 200 pips, and then started going upwards gradually on September 23. There is still a Bearish Confirmation Pattern in the market, which cannot be violated as long as the cross is unable to go above the supply zone at 136.00. Once that supply zone is overcome, then things would be bullish; but until that is done, this is a bear market. Any rally that is seen could thus be deceptive.

    This forecast is concluded with the quote below:


    “I do not trade for sport or hobby. I trade for a living. So it is important for me to quantify trading opportunities and determine that I do in fact have an edge before I enter a position.” – Rob Hanna

    What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html
  • Weekly Trading Forecasts on Major Pairs (October 5 - 9, 2015)

    Here’s the market outlook for the week:

    EURUSD
    Dominant bias: Bearish
    EURUSD was volatile for most past of last week, and there is not yet a strong directional movement, though the bias is bearish. Even the bullish breakout that was performed on Friday could prove to be a false breakout unless the resistance lines at 1.1350 and 1.1400 are overcome. On the other hand, there are strong support lines at 1.1150 and 1.1100. This month, there could be some selling pressure on EURUSD as a result of an expected strength in USD.

    USDCHF
    Dominant bias: Bullish
    In spite of the large pullback that was seen on October 2, this pair remains a bull market. For the bull market to be rendered illogical, there is a need for the pair to breach the support levels 0.9600 and 0.9550 to the downside, staying below them. It would not be easy for bears to achieve this aim because the outlook on USD is bright for the month of October (and so is the outlook on CHF). What can be a noteworthy challenge for the bullish bias on USDCHF is the expected stamina in CHF itself, which would be visible on certain CHF pairs within the last two weeks of this month. In addition, a significant rally must happen on EURUSD before USDCHF can go south protractedly. Unless that happens, USDCHF would remain bullish, meaning that the last pullback might be another opportunity to join the uptrend.

    GBPUSD
    Dominant bias: Bearish
    The rally that happened on this currency trading instrument last Friday was not strong enough to jeopardize the existing bearish trend in the market. There is still a Bearish Confirmation Pattern in the market and there is a possibility that price could continue going south. Since the outlook on USD is bright for the month of October, price would find it somewhat difficult to make a protracted northward journey. Large movements are expected this month.

    USDJPY
    Dominant bias: Neutral
    There is not yet any directional movement on this currency trading instrument. This is a choppy market and it would be prudent to stay away from it until there is a directional movement. For this currency pair to go into a trending mode, price must either close above the supply level at 121.50 or below the demand level at 118.00. Without this happening, the market would remain choppy and trendless. One thing is sure: There would be an end to the present consolidation in this month.

    EURJPY
    Dominant bias: Bearish
    The movement of this cross was somehow flat last week – all in the context of a downtrend. This cross, including other JPY pairs, would perform strong trending movements this month, and this week is likely to be bullish for some JPY pairs, including the EUR/JPY cross. There could be an upwards movement of 200 pips this week, which would lead to a brand-new bullish outlook, should it happen. A major factor in the direction of this cross in this week is the condition of Yen, which could be weak.

    This forecast is concluded with the quote below:

    “Trading can be an intellectual stimulation, as well as a way to make money…. A well-conceived and executed transaction is a thing of beauty, to be experienced, enjoyed, and remembered. It should have an essence transcending monetary reward.” - Mark Minervini (a trading legend)

    What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html
  • EXTREMELY THANKFUL SIR FOR YOUR ANALYSIS N GUESSES...THIS IS THE ONLY THING I wanted at treadimo......KINDLY ADD pair NZD/USD AND AUD/USD to YOUr analysis...AND PLS use EASY language.....UPWARDS AND DOWNWARDS insteada north n south.....MOREover pls tell us over all direction and tragets pls thanks
  • I GOt that its good to buy EUR/usd at 1.115 and 1.110 ...and good to sell it below 1.135...right
  • SIR would u recommend longs IN USD/chf this week? IS october GOOd moth for USD buying?
  • Hello Habibullah khan:

    Thanks for your comments. I may add analyses on NZDUSD and AUDUSD in a foreseeable future. USD might be strong for the month of October, plus NZD is also supposed to be strong. The strength on NZD has already started and may last till October 19. These statements are only educational guesses - there are no guarantees.

    I sent a signal to those on my email list about this direction, also posting it here: http://uk.advfn.com/newspaper/azeez-mustapha/37300/trading-signals-for-nzd-pairs-october-5-19-2015
  • THANKLS ALOT,,,i know these are educational guesses....and i am feeling my self these things..i like ur comments...PLS try to SHare good pairs to trade..LIKE IN previous day GBP/aud shorting was good trade?
  • THANKS ALOT THE LINK is very helpful
  • Weekly Trading Forecasts on Major Pairs (October 12 - 16, 2015)

    Here’s the market outlook for the week:

    EURUSD
    Dominant bias: Bullish
    EURUSD went north last week, closing above the support line at 1.1350. This seems to have ended the recent choppy movement in the market. By every indication, it is much more likely that the pair would continue going upwards this week, breaking above the resistance lines at 1.1400 and 1.1450. The support lines at 1.1300 and 1.1250 should try to defend the current bullishness in the market.

    USDCHF
    Dominant bias: Bearish
    This market has become bearish, dropping from the resistance level at 0.9750, and testing the support level at 0.9600. This has led to a bearish signal in the market, which might enable price to continue going further south. As long as EURUSD keeps on going up, USDCHF would be under selling pressure. The support lines at 0.9600, which has already been tested, could be re-tested. It could even be broken to the downside as price targets another support line at 0.9500.

    GBPUSD
    Dominant bias: Bullish
    Contrary to the sideways movement that was witnessed two week ago, GBPUSD performed some bullish movement last week. There is no longer a bearish outlook on GBPUSD. Price rose from the accumulation territory at 1.5150 and closed above the accumulation territory at 1.5300 (though it briefly went above the distribution territory at 1.5350). For this week, the outlook on the pair is bullish: something that is true of GBP pairs. We may thus see price attaining the distribution territories at 1.5450 and 1.5500.

    USDJPY
    Dominant bias: Neutral
    This currency trading instrument has not yet made any serious direction movement, except that price vacillates between the supply level at 121.00 and the demand level at 119.00. This has been going on for several weeks. However one thing is sure: There would be an end to the present consolidation in this month and it might happen this week. When a breakout happens, it would most likely favor bulls.

    EURJPY
    Dominant bias: Bullish
    The rally that happened on this cross has caused a nice Bullish Confirmation Pattern on it. On Friday, price closed at 136.58; on a bullish note. This means the cross is much more likely to continue going further upwards and thus, a northward movement of at least, 200 pips, could be witnessed this week. The outlook on JPY pairs is bullish for this week; partly owing to the ongoing weakness in JPY.

    This forecast is concluded with the quote below:

    “The most important thing is to understand that the “holy grail” in trading is the combination of discipline and a strategy with a positive expected value. Once you have that, you just have to be successful.” – Oliver Klemm

    What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html
  • Welldone. So far your analysis is going well for the currency pairs I am trading.
  • Weekly Trading Forecasts on Major Pairs (October 19 - 23, 2015)

    Here’s the market outlook for the week:

    EURUSD
    Dominant bias: Bullish
    This pair initially moved upwards last week, but it could not reach the resistance line at 1.1500 before it got corrected downwards. On Friday, price closed at 1.1348, though the bias is bullish. The bullish bias will remain valid as long as the support line at 1.1250 is not broken to the downside. Any bearish attempts that are seen here should be interpreted as an opportunity to go long, unless the aforementioned support line is broken to the downside.

    USDCHF
    Dominant bias: Bearish
    As long as EURUSD makes visible bullish effort, USDCHF would not perform any meaningful rally. Price went south last week, testing the support level at 0.9500 many times without being able to close below it. On Friday, price closed below the resistance level at 0.9550. There is a need to breach the support level at 0.9500 to the downside so that the bearish trend could continue. There are resistance levels at 0.9600 and 0.9650, which should try to defend the current bearish bias.

    GBPUSD
    Dominant bias: Bullish
    This currency trading instrument went sideways on Monday. It went south on Tuesday, but rallied seriously on Wednesday in conformity to the existing bullish outlook. Price headed into the distribution territory at 1.5500; being unable to break above it. That distribution territory is now a challenge to bulls – they must overcome it so that the current bullish outlook could continue to make sense. The pair is supposed to continue moving upwards.

    USDJPY
    Dominant bias: Neutral
    USDJPY experienced a bearish breakout last week, and price went down 200 pips as a result of that. This would have led to a Bearish Confirmation Pattern in the market, but the upwards bounce that happened after that has pushed back the price into the recent neutral territory. Price bounced upwards by 150 pips, just before the demand level at 118.00 could be tested. The condition for the end of the current neutral bias is this: Price must either close above the supply level at 121.00 or below the demand level at 118.00. That condition can still be fulfilled this month.

    EURJPY
    Dominant bias: Bullish
    This cross moved sideways from Monday till Wednesday (October 12 - 14), and then performed a large pullback on Thursday, testing the demand zone at 135.00. Unless the demand zone at 134.50 is breached to the downside, EURJPY the uptrend would be rational. It is likely that EURJPY would go up this week or next week. Most JPY pairs could also go up before the end of the month.

    This forecast is concluded with the quote below:

    “Your best bet is to think like a four-year-old. When prices go up, I am bullish, and when they go down, I am bearish.” – Dennis Gartman

    What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html
  • Weekly Trading Forecasts on Major Pairs (October 26 - 30, 2015)

    Here’s the market outlook for the week:

    EURUSD
    Dominant bias: Bearish
    This pair traded in a tight range from Monday to Wednesday and then broke out southwards on Thursday. The southward break was strong enough to cause a new bearish outlook on EURUSD (plus most other EUR pairs), which would continue for the rest of this month. Last week, price fell 350 pips, testing the support line at 1.1000. That support line is a psychological level – a breach of it to the downside would result in further southward movement.

    USDCHF
    Dominant bias: Bullish
    In most cases, the movement on USDCHF is largely determined by whatever happens to EURUSD. As long at the latter had stamina in it, the former was under bearish pressure. As soon as EURUSD broke down, USDCHF skyrocketed, rising from the support level at 0.9500; with price almost reaching the resistance level at 0.9800. This is a movement of roughly 300 pips, and it has resulted in a Bullish Confirmation Pattern in the market. Further upward journey is expected this week: The resistance levels at 0.9850 and 0.9900 are potential targets.

    GBPUSD
    Dominant bias: Bearish
    There is a bearish signal on GBPUSD, owing to its inability to trend upwards. All previous northward attempts were foiled at the distribution territory of 1.5500, which is now a major barrier to the bulls. The bias on this market can never be bullish as long as price is under the distribution territory at 1.5500. In the last few trading days, price made a bearish move, now very close to the accumulation territory at 1.5300. Unless the distribution territory at 1.5500 is breached to the upside, short positions are recommended.

    USDJPY
    Dominant bias: Bullish
    As it was mentioned in the last week forecast, there has been an end to the recent equilibrium phase on USDJPY, which lasted for several weeks. One of the conditions for the end of the equilibrium phase has been met: A close above the demand level at 121.00. The current bullish journey began on October 15, but it was not counted as been significant until price closed above the demand level at 121.00, almost testing the supply level at 121.50. USDJPY now looks sexy (attractive) to swing and position traders. Price should continue its bullish journey for the rest of the month (even beyond October 2015).

    EURJPY
    Dominant bias: Bearish
    This cross initially made a faint bullish movement in the first few days of last week, as price moved above the supply zone at 136.00. However, the sudden loss of stamina in EUR caused the cross to tumble. The cross dived smoothly, reaching the demand zone at 133.50. The cross would find it difficult to rally when EUR remains very week, unless JPY itself becomes weaker than EUR. There is still some hope of JPY pairs strengthening before the end of this month.

    This forecast is concluded with the quote below:

    “Sit down, observe the markets and go trading!” – Marko Graenitz

    What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html
  • Weekly Trading Forecasts on Major Pairs (November 2 - 6, 2015)

    Here’s the market outlook for the week:

    EURUSD
    Dominant bias: Bearish
    This pair first moved sideways in the first few days of last week, and then price broke down again on October 28, reaching the support line at 1.0900. From that support line, price has bounced upwards a bit, testing the resistance line at 1.1050. The bias on this pair remains bearish and further downwards movement is possible in the month of November, principally because the outlook on USD is bright for the month.

    USDCHF
    Dominant bias: Bullish
    USDCHF went upwards smoothly last week, reaching the resistance level at 0.9950. However, bulls have been unable to push price above that resistance level, as price eased by almost 100 pips, testing the support level at 0.9850. USDCHF should continue its upwards journey this month, possibly reaching the great psychological level at 1.0000, which means USD could probably reach parity with CHF this month, given the bullish expectation on USD for this month.

    GBPUSD
    Dominant bias: Bearish
    GBP shall undergo strong and fast movements this month as bulls and bears struggle for supremacy, which would also be visible on GBP pairs. Price tested the accumulation territory at 1.5250 and then spiked upwards on Friday. In spite of the upwards spike, the bias is bearish. A movement above the distribution territory at 1.5500 could end the current bearish bias, and until that happens, long trades are not recommended.

    USDJPY
    Dominant bias: Bullish
    USDJPY did not make any serious directional movement last week, since there were transitory upswings and downswings in the market. Should this kind of price action continue throughout this week, the market could enter another equilibrium phase. Nonetheless, the bullish bias is supposed to continue this month (certain JPY pairs would make attempts to rally in November, except AUDJPY and NZDJPY, because the outlook on AUD and NZD is strongly bearish for the month of November).

    EURJPY
    Dominant bias: Bearish
    This currency trading instrument cannot make any significant bullish movement as long as Euro is very weak. There is still a Bearish Confirmation Pattern in the market: Long trades would be illogical unless the supply zone at 134.00 is overcome. Until that happens, rallies could be taken as short-selling opportunities. In case Yen becomes weaker than Euro, a meaningful reversal would be witnessed. Euro itself would make effort to rally against some currencies in this month, save Greenback.


    This forecast is concluded with the quote below:

    “Fortunately, the positive expectations of full time trading prove to be true. Every day is exciting and the world of trading never bores. There is always a lot going on in the financial markets and there is plenty to discover.” - Christiaan van der Meer


    What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html

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