Weekly Trading Forecasts on Major Pairs (December 8 - 12, 2014) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This is a weak market, and the broke below the line at 1.2400 (which is now a resistance line) led to the strengthening of the bearish bias as price went further downwards, closing below the resistance line at 1.2300. The target for next week is at the support line of 1.2200, which would be tested with the continuation of the weakness in this market. Any rallies, whether shallow or significant, should be seen as opportunities to sell short. As long as the rally does not take price above the resistance line at 1.2500, it cannot render the bearish bias invalid. USDCHF Dominant bias: Bullish USD/CHF was able to close above the target at 0.9750, which is now a support level. Price was able to close above that level as it moves very close to the resistance level at 0.9800. The resistance level could be breached to the upside as price goes for another target at the resistance level of 0.9850. Could USD reach parity again with CHF? Only time will tell. However, if that would happen, it could be in this month. GBPUSD Dominant bias: Bearish This currency trading instrument is also weak. It was able to break below the price territory at 1.5600, which had been a great hurdle for the bears for a few weeks. The great barrier has been overcome and the instrument has closed below that territory. Should price go further downwards, it would reach the accumulation territory at 1.5500. The distribution territory at 1.5600, which is now a great barrier, should do a good job in resisting possible rallies along the way. Any rally that is strong enough to break that distribution territory to the upside could be strong enough to threaten the existence of the extant bearish outlook. USDJPY Dominant bias: Bullish The Bullish Confirmation Pattern on this pair is stronger than ever – because of a great strength in USD and a great weakness in JPY. The supply level at 121.50 is under siege and it would be broken to the upside. On the other hand, there could be a large pullback while the bulls are making effort to push price further north, as it is may be true of other JPY pairs. The possible pullback would be contained at the demand levels of 120.50 and 119.50. EURJPY Dominant bias: Bullish This cross moved upwards by roughly 200 pips this week (USDJPY moved by 300 pips). Price ought to target the supply zone at 150.00, but the possibilities of bearish retracements cannot also be ruled out; though the retracements should be halted at the demand zones at 148.50 and 147.50. The bias remains bullish. This forecast is concluded with the quote below: “Trading is a matter of probabilities. We find a method that has a statistical edge and use that method over and over so that the law of averages will work in our favor.”– Joe Ross Copyright: Tallinex.com
Weekly Trading Forecasts on Major Pairs (December 15 - 19, 2014) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This market moved upwards by over 210 pips this week, after testing the support line at 1.2250. All indication points to the fact that short trades are no longer logical in the near-term. It is possible that the bears would gain control again before the end of this year, but right now, the outlook is bullish. A Break above the resistance line at 1.2500 would mean a stronger formation of the current bullish action. USDCHF Dominant bias: Bearish The weakness in the USD has enabled this pair to go downwards this week. Price tested the resistance level at 0.9800, but it could not close above it. From that resistance level, the pair trended downwards by around 160 pips, going below the resistance level of 0.9650. From here, the pair may reach the support level at 0.9600, and should the support level get broken to the downside. It would mean that the bulls have become powerless for now. GBPUSD Dominant bias: Bullish Cable went bullish this week, moving upwards in a slow and steady manner, and then moving sideways until the close of the market. Price closed at 1.5715 on Friday, December 12, 2014; above the accumulation territory at 1.5700. The distribution territory at 1.5750 has been tested and it could be tested again. With more strength in the market, another distribution territory at 1.5800 could be tested eventually, for that is the target for the bulls in the short-term. One thing, however, should be noted: Cable could become weak again before the end of this year. USDJPY Dominant bias: Bearish USDJPY managed to go above the supply level at 121.50, but further bullish movement was rejected as price dived by more than 400 pips, testing the demand level at 117.50. It may look as though the bearish effort has been rejected at that demand level; nevertheless, the level could be tested again. It could even be breached to the downside. EURJPY Dominant bias: Bullish The situation on this cross is currently dicey. EUR is making effort to go bullish and JPY is nether weak. The market dropped seriously, which was contained at the demand zone of 146.50. From that demand zone, price has gone upwards by 150 pips, besieging the supply zone at 148.00. It is very much likely that the supply zone would give way, thus enabling the market to go towards another supply zone at 149.00. This forecast is concluded with the quote below: “People often underestimate their ability and their right to be a trader… It is about a state of mind. Having the belief you can win in trading and controlling your emotions to think clearly even when things are going against you, this makes a professional trader.” – Steve Ruffley Copyright: Tallinex.com
Weekly Trading Forecasts on Major Pairs (December 22 - 26, 2014) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair tested the resistance line at 1.2550 before further upward movement was rejected. From that resistance line, price went down by over 300 pips, closing below the resistance line at 1.2250. This has resulted in a strong Bearish Confirmation Pattern in the market and price is supposed to continued going further downwards this week, possibly reaching the support lines at 1.2200 and 1.2150 respectively. USDCHF Dominant bias: Bullish USDCHF broke below the support level at 0.9600; but it was unable to stay below that support level. Price moved upwards significantly, moving far above the support level at 0.9800. This has resulted in a strong Bullish Confirmation Pattern in the market and price is supposed to continued going further upwards this week, probably challenging the resistance levels at 0.9850 and 0.9900 successively. GBPUSD Dominant bias: Bearish This is a very volatile market, caused by the ongoing struggle between the bears and the bulls. Looking at the market more closely, it would be seen that the bears are winning the battle gradually and they can maintain their subtle supremacy within the next several trading days. The accumulation territory at 1.5550 is a formidable barrier to the interests of the bears. However, with a continuation of the strength in Greenback, that accumulation territory could be breached to the downside. USDJPY Dominant bias: Bullish This currency trading instrument dipped seriously at the beginning of last week, going below the demand level at 116.00. After that, the bulls came in with fury and drove price northwards, making it to go above the demand level at 119.00. The supply level at 119.50 is currently being battered and there is a high chance that it would be breached to the upside, for price might target another supply level at 120.50 this week or next week. EURJPY Dominant bias: Bearish This cross should normally go upwards; nevertheless, the weakness in EUR is too much to allow any significant bullish movement. In spite of desperate effort by the bulls, the outlook remains bearish. The demand zone at 145.00 has a high chance of being challenged, even if there would be a rally after that. This forecast is concluded with the quote below: “How do you make money in the market? It’s not by predicting. Instead, it’s by watching what the market is doing and then going with the flow.”– Dr. Van K. Tharp Copyright: Tallinex.com
Weekly Trading Forecasts on Major Pairs (December 29, 2014 – January 2, 2015) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish EURUSD trended downwards last week, closing below the resistance line at 1.2200. Since the recent bullish attempt was rejected at the resistance line of 1.2550, price has dived by over 360 pips, resulting in a very strong Bearish Confirmation Pattern in the market. The bearish bias may continue till the end of this year, enabling price to test the support lines at 1.2150 and 1.2100 respectively. USDCHF Dominant bias: Bullish This pair has continues its upward journey in a slow and gradual manner (thanks to the ongoing strength in Greenback). Since the recent bearish pull was rejected around the support level at 0.9550, price has skyrocketed by more than 320 pips, closing above the support level at 0.9850 last week. The next victim of the bulls’ assault is the resistance level at 0.9900, which could even be breached to the upside as price can target another resistance level at 0.9950, especially with the continuation of the strength of the USD. Could the USD ultimately reach parity with the CHF? This seems likely. GBPUSD Dominant bias: Bearish This is also a bear market. It fell towards the accumulation territory at 1.5500 before the current upward bounce happened in the market. Price is currently hovering around the distribution territory at 1.5550, not being able to go far above it at the present. Price may go south from here, testing the accumulation territory at 1.5500 again. Technically, further upward bounce may be rejected at the distribution territory of 1.5600. USDJPY Dominant bias: Bullish This is a strong currency trading instrument, supported by the Bullish Confirmation Pattern in the market. Price trended upwards last week and consolidated till the end of the week. Being above the demand level at 120.00, further northward movement is expected here – which can continue into January 2015. EURJPY Dominant bias: Bearish This cross ought to be bullish just like some other JPY pairs, but the weakness in Euro is still very much. In spite of the effort by the bulls, the bears still flex their muscles conspicuously. Price is currently threatening to go down, with the possibility of testing the demand zone at 146.00. Should the bears lose out suddenly, price can try the supply zone at 148.00. This forecast is concluded with the quote below: “One thing that never changed was my need for inner freedom. I believe to this day that trading is the most interesting vehicle to enjoy ultimate freedom. I am not only talking about financial freedom. That’s a mere bagatelle in comparison to the emotional freedom I received as a present along the trading way.”- Mercedes Oestermann van Essen Copyright: Tallinex.com
Yearly Trading Forecasts on Major Pairs (2015) Here’s the market outlook for the year 2015: EURUSD Long-term trend: Bearish This pair trended southward for most of last year. In May 2014, price topped at 1.3993 and since then, it started moving south (a movement of around 1890 pips). Last year, price closed at the low of 1.2101, challenging the support line at 1.2100. From here, price could go further south a little before it turns bullish. Should this become true, the bullish run may last till the end of February 2015. In March and April, serious volatility is expected in the market, but the bears may gain upper hands from May till August; though the bearish pressure may be punctuated with occasional rallies. There is a possibility that the bearish pressure would thin out in November, enabling price to go upwards before the bears start to fight for dominance again around December. USDCHF Long-term trend: Bullish This market trended seriously upwards last year, closing at 0.9936 at the end of the year. The last year’s close was above the support level of 0.9900, while price has already gone upwards above the psychological level at 1.0000, enabling USD to reach parity with CHF. Looking at the historical data, the current uptrend started in March 2014 and gained a serious momentum a few months later. From the support level at 0.8700, price skyrocketed by roughly 1240 pips. This bullish bias has potential to continue briefly, but the risk of a large pullback is now very high. Price may become very weak at any time. Nevertheless, the outlook may become bullish again in April and May 2015, while the bears and the bulls would continue their power tussle till September. That is the month in which the bears may likely gain upper hands (also in October). The market may become seriously bullish again in November, which is a situation that could hold out till the end of the year. GBPUSD Long-term trend: Bearish The long-term bias on GBPUSD is also bearish, just like EURUSD. Price trended upward from the beginning of the year 2014 until the end of July: reaching a high of 1.7197. From that distribution territory, price nosedive for the rest of that year. It nosedived by about 1650 pips. Closing at 1.5580, the bearish movement still has much room to continue seriously till the end of February 2015, though the possibilities of transitory rallies cannot be ruled out on the way. Price may rally in March and remain so till early May; after which a period of high volatility will follow. There might also be another run of a dominant bullish bias in September and October, before another serious selling pressure resumes and stays till the end of the year. USDJPY Long-term trend: Bullish This currency trading instrument has had one of its strongest rallies in recent times. The last significant rally started in August 2014 and held out till the end of that year: while dips in price offered novel opportunities to go long. Generally the uptrend that started in August enabled price to move upwards by over 1.900 pips, as price reached a yearly high of 121.83. From that point, further northward movement has become a kind of difficult, for price experienced large pullbacks in December 2014 (closing at 119.79 in that month). This year, the bullish trend would continue till the middle of April 2015, albeit not without threats from the bears. This trading instrument could become weak from the middle of May till early October – causing high momentum and significant movement. Price would, however, rally again before the end of December this year. EURJPY Long-term trend: Bullish Like other JPY pairs, this cross also trended upward last year. The upward trend was the strongest in the months of October and November 2014. In December, price was unable to trend upwards significantly and as a result of that, the outlook has become bearish in the near-term. One cause of this is the weakness of the EUR itself. Price now has a good probability of going bullish from now till April 2015, and it may become weak between July and October of this year (with the bears and the bulls engaging in a cut-throat struggle for supremacy in May and June). The rest of the year would then be subjected to the strength of JPY itself. Strength in JPY may result in a vivid downtrend; and vice versa. This forecast is concluded with the quote below: “We have a brain in our heads. I think we should use it to apply a little discretion and common sense to our trading.” – Dave Landry Copyright: Tallinex.com
Weekly Trading Forecasts on Major Pairs (January 12 - 16, 2015) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish EURUSD assumed its southward journey on January 2, 2015, going further and further south in the following week. Price went below the support line at 1.1800, and then consolidated until the end of the week. There is now a slight rally, which could portend the start of buying pressure when price crosses the resistance line at 1.1900 to the upside, going towards another resistance line at 1.2000. The support lines at 1.1800 and 1.1700 remains a barrier to further southward movements. USDCHF Dominant bias: Bullish Since USD reached parity with CHF, this pair has moved further upwards by 200 pips, enabling price to test the resistance level at 1.0200. There is a minor pullback in the market, which could mean the beginning a near-term bearish run, provided that the great support level at 1.0000 is unable to contain more bearish correction. On the other hand, a break above the resistance line at 1.0200 could mean the continuation of the existing bias. GBPUSD Dominant bias: Bearish The market is bearish, going downwards by over 200 pips on January 2, 2015, and going further downwards by over 200 pips last week. The accumulation territory 1.5050 was tested before the current upwards bounce in the market. The upwards bounce has taken price above the accumulation territory at 1.5150. While it is possible for price to reach the distribution territory at 1.5250, the probability of pullbacks reaching the accumulation territory at 1.5050 again exists. USDJPY Dominant bias: Bearish USD/JPY remains volatile, with short-term victories of the bulls and the bears. In the past few weeks, this pair has been unable to remains above the supply level at 120.50, and as a result of this, the near-term bias has become bearish. In the face of the recent swings in the market, the demand levels at 118.00 and 117.50 could be tested. The supply levels at 120.00 and 120.50 should also act as impediment to rallies in the market. EURJPY Dominant bias: Bearish Since the beginning of this month, this current trading instrument has moved south by more than 450 pips, which contributed to the strong Bearish Confirmation Pattern in the market. On Friday, January 9, 2015, price closed at 140.32, on a bearish note. Since it closed below the supply zone at 140.50, it may be easier for the demand zone at 139.50 or 139.00 to be tested, although there could be a strong rally after that. This forecast is concluded with the quote below: “Realize that there is no holy grail and that a simple approach with proper money management can actually work.”– Dave Landry Copyright: Tallinex.com
Weekly Trading Forecasts on Major Pairs (January 19 - 23, 2015) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair moved downwards by over 300 pips last week, reaching a low of 1.1459. There is a strong Bearish Confirmation Pattern in the market and price may test the support line at 1.1450, even if there would be an upwards bounce after that. On the other hand, there is a possibility that the resistance lines at 1.1700 and 1.1750 could be challenged. USDCHF Dominant bias: Bearish This is now an abnormal market, since the Swiss National Bank (SNB) removed the peg on EURCHF and cut their interest rate, which is currently negative. This happened on January 15, 2015 and it has had extremely huge impact on all CHF pairs, including USDCHF. For example, CHFJPY rose by over 2400 pips, reaching a high of 138.97; and USDCHF nosedived by over 2800 pips, reaching a low of 0.7309. This happened in one day, plus similar unusual volatility happened on all CHF pairs. These kinds of movements in a single day are extremely spectacular, and therefore, current CHF pairs’ prices are bound to get corrected in the long run and things would return to normal in a matter of weeks. For instance, when USDCHF dropped like a stone, EURUSD ought to spike skywards, since they are negatively correlated in a normal condition. The latter was not affected, and both pairs cannot remain bearish for a long time (and Greenback is strong in its own right). USDCHF would, therefore, move upwards by at least, 500 pips this week. GBPUSD Dominant bias: Bearish Cable made noticeable effort to go bullish last week, but further bullish effort was halted at the distribution territory of 1.5250, and since then, there has been a bearish retracement in the market. On Friday, January 16, 2015, price closed around the distribution territory at 1.5150. More bearish movement is expected this week; the price could reach the accumulation territories at 1.5100 and 1.5050. USDJPY Dominant bias: Bearish The general outlook on this currency trading instrument is weak – though price is making some effort to go upwards in a context of the downtrend. The demand levels at 116.50 and 116.00\ could be tested this week (whereas the same demand levels could defend further southerly thrust). Bullish effort could enable price to test the supply levels at 118.00 and 118.50. EURJPY Dominant bias: Bearish This cross dropped by over 400 pips last week, closing at 135.97 on Friday. Generally, it has dropped by over 1000 pips since the beginning of this year. The current shallow rally pales into insignificance when compared to the overall bias – bearish. The only thing that can change the situation is the weakening of the Yen, which could happen this week or next. This forecast is concluded with the quote below: “Trading wasn’t the hardest thing for me to learn. The hardest thing to learn by far was how to let go of the old patterns that had stopped serving me.”- Mercedes Oestermann van Essen Copyright: Tallinex.com
Thanks a lot for your effort. Personally, I always use my trading strategy for all major currencies very comfortably. Because, I get only one pip trading spreads for all major currencies. So I can make enough money by scalping. In addition, I like to trade in Gold. Actually, I always follow proper money management policy in my trading. Because, I need a consistent profit not sudden huge profit.
Weekly Trading Forecasts on Major Pairs (January 26 - 30, 2015) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The EUR is now one of the weakest currencies among popular currencies, having dropped by roughly 900 pips since the beginning of this year. The support line at 1.1150 has already been tested and it would be tested again (it can even be breached to the downside), as it is supported by a vivid Bearish Confirmation Pattern in the market. The outlook for this week is bearish – continuous selling pressure is expected and there is a great possibility that EUR could reach parity with USD. USDCHF Dominant bias: Bearish The bias on USDCHF remains unchanged. On Friday, January 23, 2015, price closed at 0.8784. As EURUSD is weak, USDCHF ought to be strong, and the strength would continue to come gradually in the context of a bearish outlook. Price should continue to move upwards this week, in a slow and steady manner. GBPUSD Dominant bias: Bearish One nice thing about Cable is that it is now going in a clean positive correlation with EURUSD. The two pairs tend to go in positive correlation with each other – an established habit. Cable and EURUSD are both dropping, but the drop in the latter is more significant than the drop in the former. On Cable, further drop is expected this week, which may be more serious than the drop that was seen last week. USDJPY Dominant bias: Bearish When compared to the EURJPY, this pair did not move so much recently. Upswings are alternated by downswings, though the bears are able to make their presence felt. Price may be able to reach the demand level at 116.50, but there is possibility that the bulls would end up dominating the market before the end of this week. EURJPY Dominant bias: Bearish This currency trading instrument made some effort to rally last week. From the beginning of that week, price went upwards by 200 pips, reaching the supply zone at 137.50. However, further upwards movement was rejected at that supply zone, and price dived steeply, reaching the demand zone at 131.00. There is a negligible upward bounce in the market, which means almost nothing when compared to the overall bias. Generally, this instrument has dropped by over 1300 pips since the beginning of this year. Price may test the demand zones at 131.00 and 130.00, but it would go further below only in the face of continued weakness in the Euro, for there is a possibility that the yen would become weak before the end of this month. This forecast is concluded with the quote below: “In my opinion trading is the only way to protect and increase your capital in the long term. But I am not saying that you need to become a day trader. There are many and also long term ways to trade.”– Julian Komar
Weekly Trading Forecasts on Major Pairs (January 26 - 30, 2015) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The EUR is now one of the weakest currencies among popular currencies, having dropped by roughly 900 pips since the beginning of this year. The support line at 1.1150 has already been tested and it would be tested again (it can even be breached to the downside), as it is supported by a vivid Bearish Confirmation Pattern in the market. The outlook for this week is bearish – continuous selling pressure is expected and there is a great possibility that EUR could reach parity with USD. USDCHF Dominant bias: Bearish The bias on USDCHF remains unchanged. On Friday, January 23, 2015, price closed at 0.8784. As EURUSD is weak, USDCHF ought to be strong, and the strength would continue to come gradually in the context of a bearish outlook. Price should continue to move upwards this week, in a slow and steady manner. GBPUSD Dominant bias: Bearish One nice thing about Cable is that it is now going in a clean positive correlation with EURUSD. The two pairs tend to go in positive correlation with each other – an established habit. Cable and EURUSD are both dropping, but the drop in the latter is more significant than the drop in the former. On Cable, further drop is expected this week, which may be more serious than the drop that was seen last week. USDJPY Dominant bias: Bearish When compared to the EURJPY, this pair did not move so much recently. Upswings are alternated by downswings, though the bears are able to make their presence felt. Price may be able to reach the demand level at 116.50, but there is possibility that the bulls would end up dominating the market before the end of this week. EURJPY Dominant bias: Bearish This currency trading instrument made some effort to rally last week. From the beginning of that week, price went upwards by 200 pips, reaching the supply zone at 137.50. However, further upwards movement was rejected at that supply zone, and price dived steeply, reaching the demand zone at 131.00. There is a negligible upward bounce in the market, which means almost nothing when compared to the overall bias. Generally, this instrument has dropped by over 1300 pips since the beginning of this year. Price may test the demand zones at 131.00 and 130.00, but it would go further below only in the face of continued weakness in the Euro, for there is a possibility that the yen would become weak before the end of this month. This forecast is concluded with the quote below: “In my opinion trading is the only way to protect and increase your capital in the long term. But I am not saying that you need to become a day trader. There are many and also long term ways to trade.”– Julian Komar Copyright: Tallinex.com