Weekly Trading Forecasts on Major Pairs (February 2 - 6, 2015) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The outlook on this market remains bearish. Price made serious bullish attempts, reaching the resistance line at 1.1400 and then consolidated till the end of last week; all in the context of a downtrend. This week, the downward trend can continue, enabling price to reach the support lines at 1.1200 and 1.1150 respectively. Only a break above the resistance line at 1.1450 could render the existing bearish outlook invalid. USDCHF Dominant bias: Bearish The long-term bias on USD/CHF is bearish, but in the near-term the bias is bullish. For the past two weeks, the market has been going upwards in a slow and steady manner as, forecasted earlier. Should this slow and steady bullish journey continue for the next few weeks, the overall bias could turn bullish. However, occasional but transitory pullbacks are expected in the journey to the upside. GBPUSD Dominant bias: Bearish On Cable, it can be seen that last week was characterized by a serious battle between the bulls and the bears, which resulted in serious swings in the market. Price reached a high of 1.5222 and a low of 1.4987 last week. There is a distribution territory at 1.5200; plus an accumulation territory at 1.5200. Further weakness can make Cable reach the accumulation territory at 1.5000 again. Overall, the outlook is bearish and it would remain so: unless the distribution territory at 1.5200 is breached to the upside and price is able to remain above it. USDJPY Dominant bias: Bearish There was no much activity in this market last week; except occasional short-term upswings and downswings in the market. This week, it is either the supply level at 119.00 is breached to the upside or the demand level at 117.00 is breached to the downside. A breach of the former would result in a new lease of bullish energy, and a break in the latter would result in a strong Bearish Confirmation Pattern in the market. But right now, this is an equilibrium market. EURJPY Dominant bias: Bearish Despite significant attempts from the bulls to push up the price last week, the outlook in the market is bearish. From the demand zone at 130.50, price went upwards, reaching the supply zone at 134.00. On Friday, January 29, 2015, price closed at 132.66, on a bearish note. The weakness in this cross is still in place - only a break above the supply zone at 135.50 could really endanger the extant bearish outlook. This forecast is concluded with the quote below: “Since the market provides us with an infinite number of opportunities—and will continue to do so as long as human nature remains what it is, only fill your bowl with what you can carry on each trade.”– Dr. Ken Long Copyright: Tallinex.com
Weekly Trading Forecasts on Major Pairs (February 9 - 13, 2015) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish In this market, the bullish effort last week was rendered useless when price headed back towards the support line at 1.1300, which was an important support line last week. This support line may be slashed this week; plus the target for the bears is located at the support line at 1.1200. Unless price breaches the resistance line at 1.1500 to the upside and closes above it, it would be assumed that bearish pressure remains in force. USDCHF Dominant bias: Bullish USD/CHF has been moving upwards slowly since January 15, 2015. The perpetual upwards movement has been strong enough to enable the bias to turn bullish. Although this pair is currently far from reaching the level it was prior to the January 15 magnificent earthquakes, price would continue its steady upwards journey. While journeying upwards, there would be occasional pullbacks, which would be transitory in nature. GBPUSD Dominant bias: Bullish From the accumulation territory at 1.5000, this pair went upwards, reaching the distribution territory 1.5350. This market movement of 350 pips has been significant enough to bring about a Bullish Confirmation Pattern in the market. The accumulation territory at 1.5000 has become a formidable defense for the bulls because price has been unable to go breach it successfully in the last few weeks. Although there is a slight bearish correction in the market, it is expected that further bearish attempts would be stubbornly challenged at the accumulation territory of 1.5000. USDJPY Dominant bias: Bullish This currency trading instrument experienced a northward breakout last week. Before this event, the market had been moving in a tight range for a few weeks, not being able to close below the level at 117.00 or above the level at 119.00. The upward break that occurred last week has enabled price to close above the demand level at 119.00 on Friday, February 6, 2015. Price closed at 119.15 and it could resume the northward journey this week, for the signal in the market is currently a “buy.” EURJPY Dominant bias: Bearish The uncertainties surrounding the Euro are one of the reasons why this popular cross has not gone seriously bullish, although the efforts of the bulls can be perceived in the market. The existing bearish bias is potentially in danger, for the outlook on most JPY pairs is now bullish. A break above the supply zone at 136.00 would mean the beginning of a smooth northward movement; otherwise things remain downbeat. This forecast is concluded with the quote below: “A consistent 12%-20% annual return will put you in league with some of the best money managers in the world.”- Steve Burns Copyright: Tallinex.com
Weekly Trading Forecasts on Major Pairs (February 16 - 20, 2015) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish Although the recent bias on this market is bearish, it should be noted that bulls have been making effort to push price higher. Price consolidated last week and traded upwards a little, closing at 1.1390, on Friday, February 13, 2015 . The outlook for this week (and for the rest of the month) is bullish. A movement above the resistance line at 1.1500 would lead to a clean Bullish Confirmation Pattern in the market. USDCHF Dominant bias: Bullish This market is currently volatile as bulls and bears engage in power tussle, leading to a vivid equilibrium movement. The current bias is bullish but there is a probability that the pair would no longer trade upwards in a significant mode this week. This is because EURUSD may move north, and as a result of this, the negative correlation effect may pose a challenge to the bullish bias, causing some pullbacks in the market. GBPUSD Dominant bias: Bullish Cable - which assumed a bullish bias a few weeks ago – experienced a smooth bullish run at the latter end of last week. Price rose from the accumulation territory at 1.5200 and reached the distribution territory at 1.5400: a movement of 200 pips. The distribution territory at 1.5400 is currently being battered and it could give way for further northward trend. This week, price could challenge another distribution territory at 1.5500. USDJPY Dominant bias: Bullish Last week, USDJPY rose from the demand level at 118.50, almost reaching the supply level at 120.50 (another move of 200 pips). From around the demand level at 120.50, the pair has dived, thereby rendering the effort of the bulls useless. Between the supply level at 119.00 and the demand level at 118.50, price has become volatile. Only a break below the demand level at 118.00 could render the recent bullish bias invalid. Without that, price may rise upward from here. EURJPY Dominant bias: Bullish Indeed, this cross made some commendable effort to go upward last week. Short trades are not currently recommended in this type of market, because it is expected that the cross would continue to meander its way upwards this week and next week, although not without visible attacks from bears. This expectation is logical as long as price stays above the demand zone at 134.00. This forecast is concluded with the quote below: “A trader who feels serene and relaxed can focus on looking for the best and safest trades.”– Dr. Alexander Elder Copyright: Tallinex.com
Weekly Trading Forecasts on Major Pairs (February 23 - 27, 2015) Here’s the market outlook for the week: EURUSD Dominant bias: Neutral This market is not currently favorable for swing trading, except intraday trading or scalping. This is because the market has not moved protractedly in a vivid direction for weeks. There is a support line at 1.1300 and a resistance line at 1.1450, and a break below that support line or that resistance line would determine the next direction of the market, especially when price closes below the support line at 1.1300 or closes above the resistance line at 1.1450. A close above the resistance line at 1.1450 is more probable because there is a possibility that EUR would rally this week. USDCHF Dominant bias: Bullish The movement on this pair is more conspicuous than the movement on EURUSD. In order to see what this market is doing more clearly, it is better to use timeframes that are smaller than the daily chart and the 4-hour chart, like the hourly chart or the 30-minute chart. The bias on USDCHF is bullish in the near-term and price moved upwards by 200 pips last week, reaching the resistance level at 0.9500. From that resistance level, price experienced some bearish retracement of 140 pips, making it to close below the resistance level at 0.9400. Further southward correction could make the near-term bias on this pair turn bearish. GBPUSD Dominant bias: Bullish Although the bias on the Cable is still bullish, we may see some weakness in this currency trading instrument this week. On Friday, February 20, 2015, price closed at 1.5396, leaving a lower high formation in the market. While price may reach the distribution territory at 1.5500, the northward movement can be limited this week because a possibility of downward movement is greater. USDJPY Dominant bias: Neutral This market has not moved significantly recently and therefore, price is in an equilibrium phase; being swayed by alternating buying and selling pressure, which is invariably transitory. The demand zone at 118.00 remains a good challenge to southward attempt and there is a possibility that the market can go above the supply level at 120.00. EURJPY Dominant bias: Neutral This cross is also in an equilibrium phase. A price plunge on Friday was quickly followed by an ensuing rally. Price may continue going upward this week or next week, and a movement above the supply zone at 136.50 would result in a bullish Confirmation Pattern. This forecast is concluded with the quote below: “Few financial markets generate as much excitement and profitability as the Forex market does.”– Cornelius Lukas Copyright: Tallinex.com
Weekly Trading Forecasts on Major Pairs (March 2 - 6, 2015) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This market, which was in an equilibrium phase for a few weeks, experienced further weakness last Thursday. Price dropped by 180 pips, closing below the resistance line at 1.1200. While price might saunter into the territory below the resistance line at 1.1100, it may not be able to go down further from there. The outlook for the EUR is bullish for this week, and therefore, price may rally by 100 – 200 pips any day in the week. USDCHF Dominant bias: Bullish One would expect that USDCHF would go northward seriously, just as EURUSD went southward seriously. However, the bullish movement on USDCHF has been limited, for bears are making effort to drag the pair lower. Should price fail to go above the resistance level at 0.9550, it may experience some bearish correction which may take the price lower towards the support levels at 0.9500 and 0.9450. GBPUSD Dominant bias: Bullish The outlook on Cable is bullish and it went upwards at the beginning of last week, reaching the distribution territory at 1.5550. Price failed to close above that distribution territory and got corrected downwards, testing the accumulation territory at 1.5400. There is a possibility that Cable may test the accumulation territories at 1.5300 and 1.5250 this week, thus rending the Bullish Confirmation Pattern in the market useless. USDJPY Dominant bias: Neutral This currency trading instrument has not moved upwards or downwards in a significant mode so far. Price gallivants between the demand level at 119.00 and the supply level at 120.00. One thing is noteworthy: this instrument may trend higher from here, breaking the aforementioned supply level to the downside, and thus targeting another supply level at 130.00. The outlook for all JPY pairs for this week and for the rest of the month of March 2015, is bullish. EURJPY Dominant bias: Bearish Owing to the recent weakness on EUR, this cross experienced a moderate bearish trend. Price moved downwards but further downwards movement was rejected at the demand zone of 133.50. On Friday, February 27, 2015, price closed at 133.93, making a weak bullish effort. As it has been mentioned before, Yen is supposed to be weak this week (and for the most part of this month). Short trades are not recommended on JPY pairs – including EURJPY. A rally is expected on this cross any day. This forecast is concluded with the quote below: “Obviously, I need to do something with regards to the markets. That's my passion. Trading is the best way to be connected with the market…”- Julian Marchese
Weekly Trading Forecasts on Major Pairs (March 9 - 13, 2015) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The bullish expectation on EURUSD has not materialized, for price dropped by over 300 pips. Indeed, last week saw the weakest movement on EURUSD since February 2015. Price has closed below the resistance line at 1.0850 and it could even reach the support lines at 1.0800 and 1.0700. Unless EUR is fated to reach parity with USD, the worst case-scenario on this market should not take it below the great support line at 1.0500. This week, bulls may make some effort to halt or reverse the current bearish trend. USDCHF Dominant bias: Bullish This currency trading instrument moved upward by over 300 pips last week, owing to the weakness in CHF and the strength in USD. Price was able to move above the resistance level at 0.9850 and stays there, threatening to go towards the resistance level at 0.9900. Even the resistance level at 0.9950 is not safe from bullish attacks, because the bulls still have lots of energy left in them. The only thing that can change the course of the battle is an exponential stamina in EURUSD. GBPUSD Dominant bias: Bearish GBPUSD, which is positively correlated with EURUSD, also fell southward last week, going below the distribution territory at 1.5050. A movement of 380 pips in one week is not something to be ignored, since this has resulted in a strong Bearish Confirmation Pattern in the chart. While the bearish movement is according to expectation, there may be some rally this week. The accumulation territories at 1.5000 and 1.4950 are being watched, and the distribution territories at 1.5100 and 1.5200 may be potential targets in case of a rally in this week. USDJPY Dominant bias: Bullish As it was forecasted, this pair broke upwards, following the recent consolidating movement in the market. The price moved upwards from the demand level at 119.50, slashing through the supply level at 121.00, but failing to close above it. As long as Greenback holds onto its bullishness, the bias on this pair is bullish. The current price action and candlestick formations on 4-hour chart all point to further northward journey. EURJPY Dominant bias: Bearish This is a bear market, which moved strongly towards the price zone around 131.00. This movement is contrary to the expectation, and therefore, long trades are currently not considered here. We should no longer expect any meaningful rally on this cross unless EUR gains a considerable amount of stamina. Then, we would want some confirmation of a trend reversal before long positions are sought. This forecast is concluded with the quote below: “I have found that when my primary goal is to trade well, I regularly experience moments of flow. I have also found that when my primary goal is to simply trade well, my results are better as a consequence.”– Dr. Ken Long
Weekly Trading Forecasts on Major Pairs (March 16 - 20, 2015) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This market currently is one of the weakest among the majors, making lower highs and lower lows. The market proffers short opportunities with any short-term rallies that occur in it. The great support line at 1.0500 is being battered heavily by furious bears, and it may be breached to the downside, while price goes towards the support lines at 1.0400 and 1.0300. There is no big deal in EUR reaching parity with USD. If CAD, CHF and AUD could reach parity with USD, then why not EUR? Unless the resistance lines at 1.0700 and 1.0800 are overcome, the outlook this week is bearish. USDCHF Dominant bias: Bullish The outlook on this pair is bullish – as long as EURUSD is weak. There is a Bullish Confirmation Pattern in the market, since price stays above the psychological support level at 1.0000. There is another important support level at 0.9900, and as long as price stays above these two important support levels, short trades would be irrational. The targets for buyers this week are located at 1.0150 and 1.0200. GBPUSD Dominant bias: Bearish Last week, Cable dipped by over 300 pips, testing the accumulation territories at 1.4750 and 1.4700. Further bearish run is possible, which may make the market reach another accumulation territory at 1.4600. However, there could be a probable rally before the end of this week, which could be significant enough to jeopardize the existing bearish bias, especially in the near-term. USDJPY Dominant bias: Bullish In spite of insignificant movement on this currency instrument, especially in recent times, the trend is still bullish. It is expected that there could an increase momentum in the market before the end of this week or early next week, which would favor bulls. Most JPY pairs could also experience the same upward movement within the stipulated period. USDJPY could thus reach the supply levels at 122.00 and 123.00. EURJPY Dominant bias: Bearish Owing to the great weakness in the EUR, this cross also dropped further downwards last week. On Friday, March 13, 2015, price closed at 127.43, in the context of a downtrend. While the demand zones at 127.00 and 126.00 could be tried, there is also a rational possibility that the cross would rally before the end of this week. This forecast is concluded with the quote below: “I integrate trading as a part of my life. Trading doesn’t stress me out, so I don’t medicate the stress in any way. Trading actually promotes my health. It satisfies certain feelings in me that other activities do not.” – Mike Melissinos Copyright: Tallinex.com
Weekly Trading Forecasts on Major Pairs (March 23 - 27, 2015) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish Without events, there cannot be history. The even that happened last week shows that EUR may not reach parity with USD soon. In fact, it is no longer rational to seek short trades on this pair, for the outlook on it has already turned bullish. As it was mentioned in the past analyses, the great support line at 1.0500 did a good job in preventing further southward plunge in the market, and since then price has skyrocketed by more than 300 pips. The bullish spike on Wednesday, March 18, 2015, was the strongest – in which price shot upward by over 450 pips in a single day, and later got corrected downwards. The support lines at 1.0700 and 1.0600 should do a good job in frustrating the efforts of the bears while price could go further upwards gradually this week. USDCHF Dominant bias: Bearish As it was expected, only a strong rally in EURUSD was able to bring about the reversal in USDCHF, and that is exactly what happened? The former rallied, the latter dipped. The former got corrected lower, the latter bounced upward; and vice versa. There is now a clean Bearish Confirmation Pattern on the USDCHF, and price may reach the support levels at 0.9700 and 0.9600 this week. GBPUSD Dominant bias: Bearish What happened here last week has posed a formidable challenge to the recent bearish bias. Cable was nearly replicating what EURUSD was doing; making price actions on the two markets look nearly similar. After all, both pairs are positively correlated. The expected movement on Cable this week should be favorable to the bulls, for the market would continue its upwards journey towards the distribution territories at 1.5050 and 1.5150. By then, the bias would have turned completely bullish. USDJPY Dominant bias: Bearish The incipient selling pressure on this currency trading instrument has made it become weak. Price can test the demand levels at 119.50 and 119.00, but it is unlikely that it would breach those demand levels to the downside because there is a high probability that this instrument may rally this week. EURJPY Dominant bias: Bearish Although the bias on this cross is bearish, the bias has almost been rendered invalid. Last week, the general movement on this cross was bullish, enabling price to close above the demand zone at 129.50. The market can move upwards by more than 150 pips this week: an action that would be the final blow for the currently precarious bearish bias. This forecast is concluded with the quote below: “The search for low-risk trading ideas has always been the most important task for traders and investors. That hasn’t changed much. The main goal is to find situations where rewards exceed risks considerably.”– Gabriel Grammatidis Copyright: Tallinex
Weekly Trading Forecasts on Major Pairs (March 30 – April 3, 2015) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish EURUSD, which has been making some bullish attempt since a few weeks ago, is now above the support line at 1.0850. On the downside, there are support lines at 1.0800 and 1.0700. On the upside, there are resistance lines at 1.1000 and 1.2000. It is expected that price will oscillate between the resistance line at 1.2000 and the support line at 1.0700 in the week. Only a significant movement will make price go above that resistance line or below that support line. USDCHF Dominant bias: Bearish This pair remains bearish in spite of some faint attempts by the bulls, to halt the situation. There are support levels at 0.9450 and 0.9400. There are also resistance levels at 0.9750 and 0.9800; plus price is supposed to move to and fro between the resistance level at 0.9800 and the support level at 0.9400. There must be a very strong momentum in the market before price can breach that resistance level to the upside or that support level to the downside. GBPUSD Dominant bias: Bearish The movement on Cable for the last week was flat, and should the market remain flat for this week, the overall bias would turn neutral. The recent bias is bearish and the current price action shows a serious tug of war between the bull and the bear. For the price to move seriously (to go out of balance), either the bull or the bear must dominate, for price will remain flat as long as the bull and the bear appear to have equal strength. Whether this week or next week, there would be a rise in momentum, which may force the price below the accumulation territory at 1.4750 or above the distribution territory at 1.5050. However, it is more likely that Cable would rally, meaning that the expected increase in the momentum will likely favor buyers. USDJPY Dominant bias: Bearish USD/JPY is currently weak. Price tested the demand level at 118.50 last week and it could even test another demand level at 118.00. However, there is a possibility that there would be a bullish breakout this week or next week, especially on an occasion of a serious weakness in Yen. EURJPY Dominant bias: Bullish The bias on this cross is bullish and it may continue to be bullish on the condition that it does not go below the demand zone at 128.50. Any bullish continuation this week may enable this cross to reach the supply zones at 131.00 and 131.50. Generally, some weakness is expected in JPY (this week or next week), and this may allow some JPY pairs to rally. This forecast is concluded with the quote below: “The markets always offer opportunities, but to capture those opportunities, you MUST know what you are doing. If you want to trade these markets, you need to approach them as a trader, not a long-term investor.”– Dr. Ken Long Source: Tallinex.com
Weekly Trading Forecasts on Major Pairs (April 6 - 10, 2015) Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair first traded downwards last week, reaching the support line at 1.0750. Around that support line, further bearish movement was rejected and price rose by 250 pips. There is now a clean Bullish Confirmation Pattern in the chart: there is a possibility that the resistance lines at 1.1050 and 1.1100 could be challenged this week. The support lines at 1.0950 and 1.0800 should try to resist possible bearish plunges along the way. USDCHF Dominant bias: Bearish Greenback is weak and Swissie is strong – hence the current bearish outlook on USD/CHF market. Price tried to rally last week, reaching the resistance level at 0.9750, but further rally was rejected there and price nosedived. The bears are now testing the support level at 0.9500; they might push the price towards the support levels at 0.9450 and 0.9400. With more intense bearish pressure, the price might even go beyond those support levels. GBPUSD Dominant bias: Neutral Last week, price on GBPUSD moved between distribution territory at 1.4850 and the accumulation territory at 1.4750, before a breakout to the upside occurred. In spite of the bullish breakout, which happened on April 3, 2015, the market is generally trendless. The market is now above the accumulation territory at 1.4900, and things would turn bullish as soon as the distribution territory at 1.5000 is overcome. Any movement below the accumulation territories at 1.4850 and 1.4800 will simply reinforce the existing neutral bias. USDJPY Dominant bias: Bearish All bullish effort on this currency trading instrument has been rendered useless. In fact, long trades are no longer sensible here, for the trend has turned bearish. Generally, the outlook on JPY pairs for the month of April is bearish and the weakness may start before the end of this week or next week. The next barrier the bears will have to overcome is the demand level at 118.50, which is currently an obstacle to the bearish outlook. EURJPY Dominant bias: Bullish One of the factors that account for the strength in this market is the fact that EUR is strong. It is probable that the strength will continue, which may make the market go further upwards. Therefore, the supply zones at 131.50 and 132.00 could be attained. One thing should be noted: the outlook on JPY pairs for this month is bearish and this cross would go up only as long as EUR is stronger than Yen. Whenever Yen becomes stronger than EUR, the cross would plummet. This forecast is concluded with the quote below: “…Look at what the market is doing right now. When it’s going up, then buy. When it stops going up, then sell. And when it’s going down, go short or stay out. It’s that simple.”– Dr. Van K. Tharp Copyright: Tallinex.com