Weekly Trading Forecasts for Major Pairs

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

Although the bias on this pair is bullish, bulls are getting tired of pushing price upwards. Price consolidated last week, moving between the resistance line at 1.1200 and the resistance line at 1.1300, before it closed below the resistance line at 1.1200 on Friday. The outlook on EUR pairs is bearish this week, and that may cause the market to assume a bearish journey, as the support lines at 1.1150 and 1.1100 are targeted.

 

USDCHF

Dominant bias: Bearish

USD/CHF moved between the resistance level at 0.9700 and the support level at 0.9600 last week. On Friday, an attempt was made to go above the resistance level at 0.9700, but price was forced to close below it. In spite of a faint rally that was seen last week, the dominant bias on the market remains bearish. Further bearishness is expected this week, as USD would be weak against some currencies like CHF, NZD and AUD. The only factor that could cause a noteworthy bullish run in the market is a major pullback on the EURUSD.

 

GBPUSD

Dominant bias: Bearish

It was formerly forecast that the outlook on GBP pair is bearish for June. GBP pairs went through major pullbacks last week as EURGBP shot skywards. That event was what put an end to the short-term neutrality on GBPUSD, which has been moving sideways before the pullback that happed on June 9. That event has caused a Bearish Confirmation Pattern to form in the market as price lost more than 200 pips (the initial loss was about 300 pips but price bounced upwards). This week, the bearish outlook on the market remains valid as further bearish movement is anticipated.

 

USDJPY

Dominant bias: Bearish

This trading instrument went downwards on Monday and Tuesday; and then made effort to go upwards on Wednesday, Thursday and Friday. All this happened in the context of a downtrend, which is expected to continue this week, for the outlook on JPY pair is very bearish for the week. Thus, the demand levels at 109.50. 109.00, and 108.50 would be tested this week, as price goes southwards.

 

EURJPY

Dominant bias: Bearish

The EUR/JPY cross is bullish in the long-term (though the long term-bullishness is now being threatened), and bearish in the short-term. Price dropped 150 pips last week, to test the demand zone at 123.00, after which it moved sideways for the rest of the week. Things are currently volatile, but further bearish movement is anticipated (just like on other JPY pairs); and thus, the demand zones at 123.00, 122.50 and 122.00 could be breached.

 

This forecast is concluded with the quote below:

 

“If you have a strategy that works, stick to it.” – James Altucher

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

The market largely consolidated last week – in the context of an uptrend. A movement below the support line at 1.1100 could trigger a bearish signal, and that exactly is what is expected this week, for the outlook on EURUSD (and some EUR pairs) is bearish. The targets for the week are located at the support lines of 1.1050 and 1.1000. However, there would not be a real threat to the current bullish outlook until the support line at 1.1100 is breached to the downside.

 

USDCHF

Dominant bias: Bearish

Despite the little bullish effort that was made in the last few days of last week, the bias on USDCHF is essentially bearish. The bias would, nevertheless, turn bullish, once the resistance level at 0.9900 is breached to the upside. That is a huge possibility this week, because EURUSD is expected to trend south (thereby helping USDCHF upwards), and CHF is also expected to be somewhat weak, which would enable USD to rally versus it.

 

GBPUSD

Dominant bias: Neutral

This is a volatile market, which has put the recent bullish outlook in a precarious situation. A protracted directional movement is needed before a new bias can be determined in the short-term. There is a need for the accumulation territory at 1.2600 to the breached to the downside before the bias can turn bearish, and there is a need for the distribution territory at 1.2900 to be breached to the upside before the bias can turn bullish. Until one of these two things happen, the bias would remain neutral.

 

USDJPY

Dominant bias: Bearish

This trading instrument is trying to make some bullish effort in the context of a downtrend. Last week, price consolidated and then made a faint bullish effort on Thursday and Friday, as it closed above the demand level at 110.50 on Friday. The outlook on JPY pairs is again, bearish for this week, and as a result of this, any rallies perceived in the market should be disregarded, since they would turn out to be short-selling opportunities.

 

EURJPY

Dominant bias: Bullish

The bias on EURJPY remains bullish, although that may change at any time. Price closed above the demand zone at 124.00 and it may hit the supply zones at 124.50 and 125.00, before turning south. Any gains in the Yen would cause JPY pairs to tumble, and EURJPY is no exception. Nevertheless, there is a need for price to go below the demand zone at 121.00 before the bias can really turn bearish.

 

This forecast is concluded with the quote below:

 

“I’ve reached the point where I can now support myself with my trading profits.” – Dr Jack Loftis

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Neutral

This market did nothing significant last week, save the movement between the resistance line at 1.1250 and the support line at 1.1100. The market has essentially become neutral, and that bias would hold out until the aforementioned resistance line is breached to the upside or the support line is breached to the downside. This is what is expected this week, for activity in the market would be greater than what was seen last week. Movement to the upside is more probable.

 

USDCHF

Dominant bias: Bearish

USD/CHF also did not do anything significant last week, tough the bearish bias still exists, most importantly in the long-term. Price tested the resistance level at 0.9750 and later closed below the resistance level at 0.9700 on Friday. Further bearish movement is anticipated this week, especially when EURUSD goes northward (which is a possibility). There are possible targets at the support lines of 0.9650, 0.9600 and 09550.

 

GBPUSD

Dominant bias: Bearish

The bearish signal that started on June 9 has lasted till now. Last week, price went downwards to test the accumulation territory at 1.2600, and later bounced upwards, to close above the accumulation territory at 1.2700. In spite of the upwards bounce, the outlook on GBPUSD remains bearish for this week (plus on certain other GBP pairs). Price could reach the accumulation territories of 1.2700, 1.2650 and 1.2600 - all of which were tested last week.

 

USDJPY

Dominant bias: Neutral

This currency trading instrument is currently in a neutral mode, owing to the tight consolidation that took place on it last week. A bullish signal was generated on June 15, but that was rendered ineffectual owing to the bull’s inability to push price protractedly northwards. In fact, the inability of the trading instrument to go more upwards may eventually result in a smooth bearish run before the end of this week, since the outlook on JPY pairs is bearish for the week.

 

EURJPY

Dominant bias: Bullish

This cross has been able to retain its bullishness so far, despite many odds against it. In most part of last week, price oscillated between the demand zone at 123.50 and the demand zone at 124.50 (formerly a supply zone). Since price was able to close above the demand zone at 124.50, an imminent bullish intent has been revealed. However, price may not move seriously upwards, because of the possibility of bearish movements, which can happen on JPY pairs.

 

This forecast is concluded with the quote below:

 

“Regular and honest self-assessment of your trading performance is crucial to your long-term success… It’s never comfortable to review a scenario and admit your mistakes, but doing so leads to massive personal growth as a trader — and in life too.” - Deron Wagner

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

Last week, a bullish breakout in this market put an end to the neutral bias on it, which was in place from June 12 to 23. Price gained more than 250 pips, almost reaching the resistance line at 1.1450, but closing above the support line at 1.1400. There is a huge Bullish Confirmation Pattern in the market, which means that further bullish movement is a possibility. Nevertheless, the outlook on EUR pairs is bearish for this week; just as it was previously announced that the movements on EUR pairs would be bullish last week. We might see a meaningful bearish run on EURUSD before the end of this week.

 

USDCHF

Dominant bias: Bearish

This pair dropped precipitously last week, almost testing the support level at 0.9550 before closing near the resistance level at 0.9600. The bias on the market is currently bearish, but that may change once EURUSD drops before the end of this week. There are support levels at 0.9550 and 0.9500, which may be tested. An upwards movement may enable price to test the resistance levels at 0.9600, 0.9650 and 0.9700.

 

GBPUSD

Dominant bias: Bullish

GBPUSD, which normally gets positively correlated with EURUSD, also went upwards by 310 pips last week, closing above the accumulation territory at 1.3000 on Friday. There is a possibility of further upwards movement, but the movement would be limited since the outlook on this market, and certain on GBP pairs, is bearish for this week. This means that there could be a serious bearish correction before the end of the week. As usual, there would be strong volatility on GBP pairs in July.

 

USDJPY

Dominant bias: Bullish

USDJPY moved slowly northward last week, testing the supply level at 112.50, but being unable to close above it. Since June 14, the market has gained about 340 pips while moving northwards slowing and gradually. The trend in the market is bullish, but that may soon be put to an end, for the outlook on the market is bearish for this week and for this month. JPY pairs are also expected to go bearish this week and in July.

 

EURJPY

Dominant bias: Bullish

Unlike USDJPY, which moved upwards gradually and slowly last week, EURJPY cross moved upwards rapidly and significantly. Price went upwards from the demand zone at 124.50, and tested the supply zone at 128.50 (a movement of about 400 pips). There is a significant Bullish Confirmation Pattern in the market, and short trades are currently not encouraged until there is a deep correction in the market, which would eventually happen, owing to a bearish outlook on JPY pairs for the month of July.

 

This forecast is concluded with the quote below:

 

“Independence has a slightly different meaning when it comes to the world of trading, but it is an important one. Trading gives us the independence from having to have a “9-5” job. It gives us the freedom to work from just about anywhere in the world (thanks, in part, to technology). We can choose what we want to trade, how much we want to trade and even take breaks whenever we want. It’s one of the best “jobs” you can have.” – TradingEducators

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

The market was engaged in a bearish correction from Monday through Wednesday and then rallied on Thursday, to close on a bullish note on Friday. This has put some emphasis on the bullish bias on the market, which means that occasional corrections would often lead to further rallies. The outlook on EURUSD is bullish for this week (and so it is for other EUR pairs). The initial targets are located at the resistance lines at 1.1450, 1.1500 and 1.1550.

 

USDCHF

Dominant bias: Bearish

The USD/CHF made some bullish attempt in the first few days of last week, breaching the resistance level at 0.9650, but not being able to stay above it. The bullish attempt was not significant enough to pose any threat to the extant bearish bias, for price nosedived again on Thursday, owing to the new lease of stamina in EURUSD. The outlook on USD is bearish for this week, and as such further downwards movement towards the support levels at 0.9600 and 0.9550 is anticipated.

 

GBPUSD

Dominant bias: Bullish

Basically, GBPUSD is bullish in the longer-term and bearish in the shorter-term. Price moved down by 110 pips last week, in the context of an uptrend, closing below the distribution territory at 1.2900. This week, the outlook on GBP pairs is strongly bullish, and as such, there is an expectation of a strong bullish movement to the upside, which would assert the presence of bulls. The initial targets are the distribution territories at 1.2900, 1.2950 and 1.3000 which have been previously attained. Price might even go beyond those targets.

 

USDJPY

Dominant bias: Bullish

Since June 14, this pair has gained about 510 pips, moving in a perpetual bullish mode. Price is now very close to the supply level at 114.00; plus the possibility of breaching it to the upside is very high, owing to the clean Bullish Confirmation Pattern present in the market. Once the supply level is breached, the next targets would be the supply levels at 114.50, 115.00 and 115.50. However, the overall outlook for this month is bearish, and that may materialize anytime.

 

EURJPY

Dominant bias: Bullish

The market moved sideways in the first few days of last week, before trending further northwards. Since June 15, this cross has gained about 740 pips, closing very close to the supply zone at 130.00 on Friday. The supply zone would be easily breached to the upside as price goes further towards other supply zones at 130.50, 131.00 and 131.50. There could, nonetheless, be some bearish reversals this month, but that may not happen as long as EUR is strong.

 

This forecast is concluded with the quote below:

 

"There is time to go long, time to go short, and time to go fishing. A good signal jumps at you from the chart and grabs you by the face – you can’t miss it.” – Jesse Livermore

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

This pair has been going upwards since June 27, and the bullishness has been maintained. Price also went upwards last week, though in a zigzag manner, closing above the support line at 1.1450 on Friday, and trying to go for the resistance line at 1.1500 (the initial target for this week). Other targets are located at the resistance lines at 1.1550 and 1.1600, which would require a strong buying pressure to reach.

 

USDCHF

Dominant bias: Bearish

The market is bearish in the long-term and neutral in the short-term. While the overall bias is bearish, price has not really assumed any protracted movement in the last two weeks. For the short-term neutrality to end, price needs to move above the resistance level at 0.9750, which would threaten the ongoing bearish outlook; or price would need to move below the support line at 0.9550, which would help emphasize the bearish outlook. As long as price does not move above the aforementioned resistance level or below that support level, the neutrality in the market would persist.

 

GBPUSD

Dominant bias: Bullish

GBPUSD moved upwards last week, gaining about 240 pips. The movement in the first few days of the week was flat, prior to the strong bullish movement that was witnessed on July 14. The market is intent on going further upwards, having tested the distribution territory at 1.3100. The distribution territory would be breached to the upside, for price would move further upwards by at least, 200 pips this week. The outlook on certain other GBP pairs is also bullish for this week.

 

USDJPY

Dominant bias: Bullish

Although it is currently being threatened, the bias on this trading instrument is still bullish. The movement last week was essentially bearish, and as soon as price goes below the demand level at 111.50, things would go completely bearish (a Bearish Confirmation Pattern in the market). Only a strong rally from here can remove the threat on the current bullish bias. It should be borne in mind that the outlook on JPY pairs is bearish for July.

 

EURJPY

Dominant bias: Bullish

The movement on EURJPY cross was bearish last week – in the context of an uptrend. Price first attempted to go upwards, but the attempt was halted as soon as the supply zone at 130.50 was reached. From that point, price got corrected by 180 pips, but it could not go below the demand zone at 128.50. For the bias to turn bearish, price would need to cut the demand zone at 128.50, while going further downwards. This is the expectation for this week, which could, however, be scuttled by incessant bouts of energy in Euro.

 

This forecast is concluded with the quote below:

 

“I believe a winning trading strategy should be easy to learn and apply in the real world.” - Jack Loftis

 

 

 

Source: http://www.tallinex.com

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

On EURUSD, bull was the clear winner last week. Price went upwards by 210 pips, breaking the multi-month high at 1.1600 and closing above the support line at 1.1650. Since June 27, price has gained 470 pips, and there is still more room for upwards movement, for price could reach the resistance lines at 1.1700, 1.1750 and 1.1800 this week. Nevertheless, it should be noted that, the more the market goes upwards, the more the chances of a reversal (which could happen before the end of the month).

 

USDCHF

Dominant bias: Bearish

This pair went down about 200 pips last week, making bear the clear winner. Since May 12, the market has gone down by more than 600 pips, leading to a huge Bearish Confirmation Pattern in the market. On Friday, price went briefly below the support level at 0.9450, and later closed above it. This week, further downwards movement is expected and the support levels at 0.9450, 0.9400, and 0.9350 could be tried. In case USD gains a considerable amount of stamina, there would be an upwards bounce in the market.

 

GBPUSD

Dominant bias: Neutral

Cable is bullish in the long-term, but neutral in the short-term. Price tested the distribution territory at 1.3100, and then began to be corrected downwards last week, reaching the accumulation territory at 1.2950. A movement above the distribution territory at 1.1300 would help restore the bullish confident; while a movement below the accumulation territory at 1.2800 would result in a bearish bias. A movement between the distribution territory at 1.3050 and the accumulation territory at 1.2900 would keep the short-term neutrality in the market.

 

USDJPY

Dominant bias: Bearish

There is a bearish signal on USDJPY. Price went southwards by 140 pips last week (having gown downwards by 330 pips since July 11). On Friday, the demand level at 111.00 was tested – it would be breached to the downside this week. Other bearish targets are located at the demand levels of 110.50, 110.00 and 109.50. There is a strong bearish outlook on JPY pairs this week, and therefore, long trades are not recommended on USDJPY.

 

EURJPY

Dominant bias: Bullish

The bias on this cross is bullish, though price only consolidated last week. Further consolidation can result in a short-term neutrality. One reason why the bullish bias has held out so far is the stamina in EUR itself. This week, there are possibilities that the supply zones at 130.50 and 131.00 can be tested this week. On the other hand, there could be a strong pullback before the end of the week (or the month), owing to a bearish outlook on JPY pairs for the rest of the month.

 

This forecast is concluded with the quote below:

 

“Trading is a great business for those who master it, and those who master it are traders who have mastered themselves.” – Joe Ross

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

EURUSD, which has generally been bullish this year, went upwards by 100 pips last week, testing the resistance line at 1.1750. Some attempts were made to breach the resistance line to the upside, but to no avail. However, the resistance line remains under siege and it may be breached to the upside, as other resistance lines at 1.1800 and 1.1850 are targeted. The outlook on EUR pairs is bearish for this week, but bullish for August 2017; so we may see some considerable correction before the end of the week.

 

USDCHF

Dominant bias: Bullish

Perpetual weakness in CHF has helped USDCHF to generate a clean bullish signal (most CHF pairs also skyrocketed while the CHF/JPY plummeted). Price gained about 250 pips last week, and it is currently volatile. The market would continue going upwards as long as CHF shows weakness. This is a classical example of when both USDCHF and EURUSD go into a positive correlation; i.e., they both go upwards. The USDCHF normally goes into opposite direction to EURUSD, but this time around, the case is being influenced by exponential weakness in CHF. Price may go further upwards to test the resistance levels at 0.9750 and 0.9800. However, CHF would regain its losses, starting from this week and throughout August; something that would send CHF pairs (including USDCHF) southwards.

 

GBPUSD

Dominant bias: Bullish

GBPUSD was able to retain its bullishness last week, trying to go upward just like EURUSD has done, since both of them normally go into positive correlation. The distribution territory at 1.3150 was tested repeatedly last week, and it might be breached to the upside this week, as other distribution territories at 1.3200 and 1.3250 are aimed. Although GBP pairs would experience mixed results in August, GBPUSD would not really become bearish as long as it stays above the accumulation territory at 1.2850.

 

USDJPY

Dominant bias: Bearish

In this market, this month has been bearish so far. Last week was also characterized by bearishness in spite of bull’s desperate effort to push price upwards, which made price tested the supply level at 112.00, before price went downwards to close below the demand level at 111.00. The next target is the demand level at 110.50, which would easily be breached as other demand levels at 110.00 and 109.50 are targeted. The outlook on JPY pairs is bearish for this week and for August. Therefore, long trades are not recommended.

 

EURJPY

Dominant bias: Neutral

This currency trading instrument has been consolidating for about two weeks, resulting in short term neutrality. A movement above the supply zone at 130.50 would bring about a Bullish Confirmation Pattern in the market; while a movement below the demand zone at 128.00 would result in a bearish bias. This is what is expected to happen within the next several trading days. Nonetheless, bear would eventually become a winner in August.

 

This forecast is concluded with the quote below:

 

“It doesn’t matter how often a method or system wins, what matters is the bottom line: does the method or system make money for you?! If it does, then stick with the bottom line.” - Andy Jordan

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

This pair edged higher last week, reaching the resistance line at 1.1900, before the pullback that is currently being experienced. Price has gained more than 1000 pips since early May 2017, and the trend for this year has generally been bullish. The pullback may end up giving a good opportunity to buy long at better prices, in the context of an uptrend (for the outlook on EUR is bullish for this week). Price could thus target the resistance lines at 1.1800, 1.1850 and 1.1900.

 

USDCHF

Dominant bias: Bullish

A recent weakness in CHF has made USD/CHF go upwards, resulting in the current bullish bias. However, the bullish bias is currently precarious, for price merely consolidated last week, closing above the support line at 0.9700. Further consolidation this week would result in a neutral bias, unless price is able to breach the resistance level at 0.9750 to the upside, closing above it. On the other hand, a movement below the support level at 0.9550 would result in a bearish bias, which may happen in case CHF gathers bullish momentum (a possibility).

 

GBPUSD

Dominant bias: Bullish

GBPUSD is bullish, but there is a threat to the bullishness. As the market moved in a positive correlation with its EURUSD counterpart, its price was able to go up last week, testing the distribution territory at 1.3250, before there was a considerable pullback on Thursday and Friday. From the high of last week (1.3262), price dropped 210 pips, closing below the distribution territory at 1.3050 (hence the threat to the bullish bias). The threat may increase as price goes further southward, as the outlook on GBP pairs is bearish for this week. The accumulation territories at 1.3000 and 1.2950 could be breached easily.

 

USDJPY

Dominant bias: Bearish

Here is a bear market, with a clear Bearish Confirmation Pattern in the market. Price has been going southwards in a slow and steady manner, having lost 430 pips since July 11. The market bounced upwards on August 4, but that pales into insignificance when compared to the overall bearish bias. This week, the bearish journey would continue - owing to the ongoing bearish expectation certain JPY pairs. The initial target is the demand level at 110.50, then followed by the demand level at 110.00 which was also tested last week.

 

EURJPY

Dominant bias: Neutral

The neutrality on this trading instrument continued last week. Price attempted to stay above the supply zone at 131.00, but the attempt proved abortive. Had the attempt succeeded, a bullish signal would have been generated. The weakness that was seen in the last few days of last week has only put more emphasis on the neutrality of the market. One factor preventing a serious bearish movement in this market is the stamina in EUR, and therefore, there may not be a big pullback until EUR undergoes exponential weakness.

 

This forecast is concluded with the quote below:

 

“Be proud you're a trader. A trader is a man who earns what he gets and does not give or take the undeserved. A trader does not ask to be paid for his failures, nor does he ask to be loved for his flaws. A trader does not squander his body as fodder, or his soul as alms. Just as he does not give his work except in trade for material values, so he does not give the values of his spirit - his love, his friendship, his esteem - except in payment and in trade for human virtue, in payment for his own selfish pleasure, which he receives from men he can respect…” - Ayn Rand

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

This pair is bullish, though it only consolidated last week, moving between the support line at 1.1700 and the resistance line at 1.1850. A movement above the aforementioned resistance line would put more emphasis on the bullish bias, while a movement below the support line could result in a threat to the bullish bias. On the other hand, further consolidation for the next several trading days would bring out a neutral bias on the market. No matter what happens this week, EUR would be seen going upwards versus certain currencies like AUD and NZD.

 

USDCHF

Dominant bias: Bearish

This is essentially a bear market, although there was a bearish effort between July 25 and August 8, it was not enough to override the overall bearish bias. After testing the resistance line at 0.9750, further bullish effort was rejected as price came down by 250 pips, closing below the resistance line at 0.9650 on Friday. This week, the market would endeavor to target the support levels at 0.9550 and 0.9500 (even possibly exceeding it).

 

GBPUSD

Dominant bias: Bearish

In the context of a downtrend, GBPUSD moved sideways last week. Price oscillated between the distribution territory at 1.3050 and the accumulation territory at 1.2950. A movement below the accumulation territory at 1.2950 would put more emphasis on the bearish mode of the market, while a movement above the distribution territories at 1.3050, 1.3100 and 1.3150 would result in a new bullish signal. This week, GBP also would be seen moving upwards versus certain currencies like AUD and NZD.

 

USDJPY

Dominant bias: Bearish

From the August high of 114.47, this trading instrument has dropped by 550 pips, testing the demand level at 109.00, and closing above the demand level on Friday. There is a strong Bearish Confirmation Pattern in the market, and thus, it is logical to conclude that price would continue going downwards this week, aiming at the demand levels of 109.00, 108.50 and 108.00. There could be transitory upward bounces along the way.

 

EURJPY

Dominant bias: Bearish

The long-expected bearishness on EURJPY is here. Last week, price dropped 250 pips, ending the recent neutrality on the market (which was in place for roughly three weeks), and bringing about a bearish bias. On Friday, price bounced upwards, closing slightly above the demand zone at 129.00; thus creating a wonderful opportunity to sell short at a better price, while the outlook on the market remains bearish. This week, price is expected to go lower, reaching the demand zones at 128.50, 128.00 and 127.50

 

This forecast is concluded with the quote below:

 

“All good traders are also good record keepers. If they win a trade, they want to know exactly why and how… Traders who win consistently treat trading as a business.” - Matt Blackman

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

This pair is bullish in the long-term, but neutral in the short-term (for price has been going sideways for about two weeks). Price has been moving to and fro, within the resistance line at 1.1850 and the support line at 1.1650. As long as price moves to and fro within the resistance and support lines, the short-term neutrality would hold out. A movement above the resistance line of 1.1850 would make the long-term bullish bias more conspicuous, while a movement below the support line of 1.1650 would result in a bearish outlook. A movement below the aforementioned support line is more likely, owing to the expected weakness in EUR this week.

 

USDCHF

Dominant bias: Neutral

USDCHF has become a neutral market, as it has not assumed a protracted directional movement since early August. For a directional movement to start, there is a need for price to go above the resistance level at 0.9750 (thus creating a Bullish Confirmation Pattern), or the price would go below the support level at 0.9600 (thus creating a Bearish Confirmation Pattern). A movement to the upside is more likely this week, owing to an expectation of weakness in CHF and strength in USD.

 

GBPUSD

Dominant bias: Bearish

This market went downwards last week, testing the accumulation territory at 1.2850 several times, but not able to breach it to the downside. The outlook on GBP pairs is bearish for this week, and for this, the bearish journey on GBPUSD would continue as the accumulation territory at 1.2850 is breached to the downside. The next targets would be accumulation territories at 1.2800, 1.2750 and 1.2700.

 

USDJPY

Dominant bias: Bearish

From August 14 to 16, there were bullish attempts in this market, as price went upwards by 160 pips, almost reaching the supply level at 111.00. From the high of last week (110.93) price went down by 220 pips, moving briefly below the demand level at 109.00 and then closing above it on Friday. The bearish journey may continue this week, and therefore, the demand level at 109.00, 108.50 and 108.00 could be the next targets.

 

EURJPY

Dominant bias: Bearish

What happened on EURJPY last week was nearly similar to what happened on USDJPY. In the first few days of last week, price rallied in the context of a downtrend, testing the supply zone at 130.00 and then dropping smoothly by 200 pips, to test the demand zone at 128.00. Price has closed above the demand level at 128.00, but it is likely that it would test it again – probably breaching it to the downside - as it ontinues to go southwards this week.

 

This forecast is concluded with the quote below:

 

“20+ years ago I knew I wanted to live life on my terms, I just didn’t know how to create the income that would allow that. That desire drove my focus on trading and still does today.” – Sam Seiden,

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

This pair is neutral in the short-term, but bullish in the long-term. Price moved sideways from Monday to Thursday, and then broke upwards on Friday. Price gained roughly 150 pips that day, closing above the support line at 1.1900. The bullish movement could take price towards the resistance lines at 1.1950 and 1.2000. The resistance line at 1.2000 would try to impede any bullish movement beyond it, for the outlook on EURUSD is bearish for this week (following some visible bullish effort).

 

USDCHF

Dominant bias: Neutral

USDCHF is bearish in the long-term, and neutral in the near-term. The market consolidated mostly last week, save for the bearish breakout that was witnessed on August 25. Since the movement of this pair is dictated by whatever happens to EURUSD, it is expected that further downwards movement would be witnessed as long as EURUSD goes upwards. This can enable price to go below the support lines at 0.9550 and 0.9500, thus ending the ongoing near-term neutrality. A sharp drop in EURUSD price would bring about a meaningful rally on USDCHF.

 

GBPUSD

Dominant bias: Bearish

Since the beginning of this month, GBPUSD has lost about 450 pips, going southwards. There is a Bearish Confirmation Pattern in the market, which could not be threaten by the rally that took place at the end of last week. In fact, the rally would act as a good opportunity to sell short at slightly higher prices, for the outlook on GBPUSD is bearish for this week. In September, GBP pairs would be mostly bearish (though some rallies would be witnessed in certain cases).

 

USDJPY

Dominant bias: Bearish

This trading instrument was caught in an equilibrium phase last week – though the major outlook on the market is bearish. The weakness in USD has prevented a meaningful rally in the market, and bullish effort would continually be thwarted as price goes further downwards. Further bearish movement is anticipated this week, for the demand levels at 109.00, 108.50 and 108.00 would be aimed. Rallies should either be ignored or approached with caution.

 

EURJPY

Dominant bias: Bullish

Both in the short-term and the long-term, this cross is bullish. Some conspicuous rally attempt was started at the beginning of last week, and that culminated in a strong rally that was seen on Friday, as price closed at 130.45. A “buy” signal has already been generated, and that may enable price to go upwards by another 200 pips this week. However, the outlook on JPY pairs is bearish for this week and for September, and thus, whatever goes up on EURJPY cross will eventually come down.

 

GBPJPY

Dominant bias: Bearish

GBPJPY was quite choppy in July. Nonetheless a smooth bearish movement began in August, and price has been going steadily southwards since the beginning of the month, losing 700 pips. On Thursday and Friday, some bullish correction was seen, but that has paled into insignificance when compared to the overall bearish bias on the market. This week, price is supposed to continue its bearish movement. The demand zones at 140.50, 140.00 and 139.50 would be reached. They may even be exceeded.

 

 

This forecast is concluded with the quote below:

 

“Trading is a collaborative endeavour between you and the market. The market offers up opportunities on a regular never ending cycle and you decide what you will do with these opportunities. There is no enemy in this transaction; it is a symbiotic relationship and a failure to accept this is at the root of many of the problems that traders have.” – Chris Tate

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

EURUSD is bullish in the long-term and bearish in the short-term. Price went upwards on Monday and Tuesday, testing the resistance line at 1.2050. After that, a serious bearish correction took place as price went down by roughly 200 pips after the aforementioned resistance line was touched. This week, any rallies would meet a strong opposition at that resistance line of 1.2050. On the other hand, price may also target the support lines at 1.1850 and 1.1800.

 

USDCHF

Dominant bias: Neutral

This pair has been consolidating for 5 week – hence the current neutral bias on the market. Price has oscillated between the support level at 0.9450 and the resistance level at 0.9650. For the current neutral bias to end, there is a need for price to either cross the resistance level at 0.9750 to the upside or move below the support level 0.9450, staying below it. Either of this is expected to happen this week, for there would be a rise in momentum.

 

GBPUSD

Dominant bias: Bearish

GBPUSD is bearish in the long-term, though it consolidated throughout last week. There is an expectation of some bearish movement this week, which may make price test the accumulation territories at 1.2900, 1.2850 and 1.2800. However, given the current price action, some bullish effort may enable price to go upwards by around 100 – 150 pips, but the upwards movement would be limited.

 

USDJPY

Dominant bias: Bearish

USDJPY us generally bearish, but the recent bullish effort has resulted in a threat to the bearish trend. Last week, price tested the demand level at 108.50 and then bounced upwards, reaching the supply level at 110.50. On Friday, the market closed above the demand level at 110.00, and this has become a threat to the bearish outlook on the market. A movement above the supply level at 111.00 would result in a bullish bias; while a movement below the demand level at 109.00 would lay more emphasis in the overall bearish outlook.

 

EURJPY

Dominant bias: Bullish

This cross pair went upwards last week to test the supply zone at 131.50. After that, price got corrected lower, closing below the supply zone at 131.00. However, there is still a Bullish Confirmation Pattern in the market, which cannot be rendered invalid unless price drops by 200 pips from its current location. The movement of the market for this week would largely be determined by whatever happens to Yen.

 

GBPJPY

Dominant bias: Bearish

Over the long-term, GBPJPY is bearish, but a bullish signal has been generated in the 4-hour chart. The bullish signal was brought about by the fact that price gained about 230 pips last week, leading to a bullish outlook of this week. Further weakness in Yen may enable the supply zones at 143.50, 144.00 and 144.50, to be tested this week. Nonetheless, any display of stamina by Yen would impede the expected bullish movement.

 

 

This forecast is concluded with the quote below:

 

“…The real Holy Grail in trading is proper risk management. All of the successful traders I know follow a few specific, even conservative, risk management rules.” – Rick Wright

 

Source: http://www.tallinex.com

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

The pair went upwards last week, gaining about 200 pips. Price moved briefly above the resistance line at 1.2050, and then closed below it on Friday. There is a strong bullish outlook on EUR pairs this week, and therefore, the pair is supposed to continue to go upwards, gaining at least, another 200 pips. There would be pauses and occasional corrections along the way, but the movement this week would generally be bullish.

 

USDCHF

Dominant bias: Bearish

USDCHF is bearish, both in the long-term and the short-term. Price went downwards by 150 pips, tested and breached the resistance level at 0.9450. The pair is now under the resistance level at 0.9450, targeting the support levels at 0.9400, 0.9350 and 0.9300. USDCHF cannot be expected to rally meaningfully as long as EURUSD is strong. Therefore, the bias is bearish for this week, and long trades are not currently rational.

 

GBPUSD

Dominant bias: Bullish

GBPUSD has become bullish after rallying by more than 280 pips last week, testing the distribution territory at 1.3200, and closing slightly below it. There is a Bullish Confirmation Pattern in the market and price is thus expected to continue going upwards this week, reaching the distribution territories 1.3250, 1.3300 and 1.3350. These distribution territories may even be exceeded as price moves further upwards.

 

USDJPY

Dominant bias: Bearish

This currency trading instrument dropped about 210 pips last week, testing the demand level at 107.50 and closing above it. Since the high of July 11, price has dropped 660 pips and there is much room to drop more. Nonetheless, the outlook on JPY pairs is bullish for this week, and while the demand levels at 107.00, 106.50 and 106.00 could be reached, there is also a high possibility of a strong rally before the end of the week.

 

EURJPY

Dominant bias: Neutral

Unlike USDJPY, this cross rather consolidated last week, refusing to assume a bearish movement. One reason behind this is the fact that EUR is strong in its own right and its strength versus strength of JPY are almost equal (hence the short-term equilibrium phase in the market). Price is going to move out of balance this week, as JPY becomes weaker eventually, allowing this cross to rally massive before the end of the week.

 

GBPJPY

Dominant bias: Bearish

This trading instrument is bearish in the long-term, but neutral in the short-term. Price has done nothing except to zigzag upwards and downward. The market environment is quite choppy and it would be better to wait until it either goes above the supply zone at 142.60 (staying above it); or it goes the demand zone at 141.10 (staying below it). Until one of these two conditions are met, price would remain directionless in the short-term. The most probable direction this week is towards the north.

 

 

This forecast is concluded with the quote below:

 

“How often you win isn’t important. How much you win is.” – Rayner Teo

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Neutral

The market is bullish in the long-term and neutral in the short-term. There was a slight bearish movement last week, but that was not significant. This week, price would either go above the resistance line at 1.2050, to strengthen the long-term bullish outlook; or price go below the support line at 1.1850 (which was tested last week), staying below it, to bring about a short-term bearish bias.

 

USDCHF

Dominant bias: Neutral

USDCHF is bearish in the long-term, but neutral in the short-term. From Monday to Wednesday, price went upwards by more than 200 pips, to test the resistance level at 0.9700. However, price began to come downwards on Thursday and Friday, thus rendering the short-term bullishness of the market vulnerable. To bring about a clean bullish bias, there is a need for the market to go upwards this week, staying above the resistance level at 0.9700; otherwise a strong bearish movement would result in a bearish bias. Movements between the resistance levels at 0.9700 and the support level at 0.9500 would enable the neutrality of the market to continue.

 

GBPUSD

Dominant bias: Bullish

This trading instrument has become seriously bullish. Price has gone upwards by 680 pips this month, and there is much room for it to go upwards this week. The instrument has closed just below the distribution territory at 1.3600 on Friday. The distribution territories at 1.3600, 1.3650 and 1.3700 would be reached this week (even if there would be any reversals later).

 

USDJPY

Dominant bias: Bullish

USDJPY is bullish in the short-term, but bearish in the long-term. The market went bearish in the first week of this month and went bullish last week, generating a bullish signal. There is a possibility that the supply levels at 111.00 (which was tested last week), and 111.50 would be reached. On the other hand, there is a stronger possibility that price would go bearish this week, so the demand levels at 110.00, 109.50 and 109.00 could be reached this week.

 

EURJPY

Dominant bias: Bullish

The market rose from the demand zone at 130.00, and went upwards to test the supply zone at 133.00. This has resulted in a bullish bias, and further bullish movement could be seen as price makes more attempt to continue going northwards. However, the outlook on JPY pairs is bearish for this week, and EURJPY may also experience a vivid pullback before the end of the week, and that is something that could bring about a bearish bias on the market.

 

GBPJPY

Dominant bias: Bullish

Last week, GBPJPY proved to be the strongest moving pair among JPY pairs. Price gained more than 820 pips, causing a huge Bullish Confirmation Pattern in the market. Further bullish movement could be seen this week, taking price towards another supply zones at 151.00 and 151.50. Then, there is a high probability of a large pullback before the end of this week, owing to a bearish expectation on JPY pairs.

 

 

This forecast is concluded with the quote below:

 

“Over the years, I've had the most profitable results by always making an attempt to receive pay for the risk I am taking. I want to be paid to trade.” – Joe Ross

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Neutral

On September 18 and 19, this pair made a faint bullish attempt, only to come down on September 20 (and then went upwards on September 21 and 22). Since there is no conspicuous victory between bull and bear, the market remains in a neutral region. There is a need for price to go above the resistance line at 1.2050 (staying above it); or go below the support line at 1.1850 (staying below it). That is when there would be a directional bias.

 

USDCHF

Dominant bias: Bullish

This pair has generated a bullish signal, owing to a visible bullish effort that was made last week. Price first consolidated in the first few days of the week, and then rose upwards. Further rise is possible this week, as the resistance levels at 0.9700, 0.9750 and 0.9800 are targeted. A drop below the support level at 0.9650 would force the market back into a neutral territory, while a drop below the support level at 0.9500 would end in a strong bearish bias.

 

GBPUSD

Dominant bias: Bullish

GBPUSD consolidated throughout last week – albeit in the context of an uptrend. Price has gained roughly 700 pips this month, and there are chances to gain more. The distribution territory at 1.3650 (which was tested last week) would be breached to the upside, as price goes for other distribution territories for the rest of September. The outlook on GBP pairs remain bullish for this week.

 

USDJPY

Dominant bias: Bullish

This trading instrument went upwards by 150 pips last week, testing the supply level at 112.50 and then getting corrected a bit lower. There is a clean Bullish Confirmation Pattern in the market, which signals further bullish movement this week. The supply levels at 112.50, 113.00 and 113.50 might be reached before the end of the month. The demand levels at 111.50 and 111.00 would impede bearish attacks along the way.

 

EURJPY

Dominant bias: Bullish

This cross has become bullish in the long-term and in the short-term. Last week price went upwards by 190 pips, and then followed a shallow correction on Friday. Following the shallow correction would be a rise towards the north, as price slashes the supply zones at 134.00, 134.50 and 135.00 to the upside (possibly exceeding them). The outlook on JPY pairs is strongly bullish for this week.

 

GBPJPY

Dominant bias: Bullish

The market gained about 1,100 pips this month, before the bearish correction that was witnessed on Friday. Further bearish correction could take place, but it should not be significant enough to result in a bearish bias (JPY pairs are mostly expected to go upwards this week). The bearish correction would end up giving opportunities to join the existing bullish trend, at better prices. A gain of 200 – 300 pips is anticipated before the end of September.

 

This forecast is concluded with the quote below:

 

“Trading goes best when it is yoked to rewards… that are independent of the most recent trading results.” - Brett Steenbarger, Ph.D.

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

The market lost about 200 pips last week, went briefly below the support line at 1.1750 and then went above it, to close above the support line at 1.1800. There is already a Bearish Confirmation Pattern in the market, and further downwards movement is possible as price targets the support lines at 1.1800, 1.1750 and 1.1700 this week. This means that the shallow rally that was seen on Thursday and Friday may turn out to be opportunities to go short at slightly higher prices. The outlook on EUR pairs is strongly bearish for October; so EUR would be seen falling against other major currencies.

 

USDCHF

Dominant bias: Bullish

The bias on USDCHF is bullish in the short-term; and the bullishness is even precarious. This week, it may be possible for this pair to retain its bullishness as EURUSD slides southwards. However, the bullishness of the market would face a challenge from another quarter, which is the expected rally in CHF. CHF may begin to gain strength versus other currencies within the next two weeks, and that may make it difficult for USDCHF to experience a smooth bullish run. However, USD would also gain serious stamina around the end of October – a factor that may help USDCHF to become a clear winner at the end of the month.

 

GBPUSD

Dominant bias: Bearish

GBPUSD was bullish in September, but the bearish correction that was witnessed throughout last week (at least a movement of 150 pips to the south) has resulted in a “sell” signal in the market. The outlook on GBP pairs is bearish for this week, and thus, long trades are not recommended for now. GBPUSD could reach the accumulation territories at 1.3350, 1.3300 and 1.3250 within the next several trading days.

 

USDJPY

Dominant bias: Bullish

This trading instrument has gained at least 450 pips since September 11. The movement of the market would largely be determined by whatever happens to USD this month. A strong USD means price would continue going upwards, whether gradually or swiftly. On the other hand, a weak USD may cause a serious reversal on USDJPY as price goes downwards by at least 200 pips within the next few weeks.

 

EURJPY

Dominant bias: Bullish

This cross dropped southwards on Monday and Tuesday and then consolidated throughout the rest of the week. However, a closer look at the market reveals that bulls have subtly moved price in their favor, leading to an invalidation of recent bearish efforts. A movement above the supply zone at 134.00 would result in corroboration of the recent bullish bias; while a movement below the demand zone at 131.50 would result in a bearish bias.

 

GBPJPY

Dominant bias: Bullish

GBPJPY rose by 1,100 pips in September and got corrected on September 29, following the consolidation that took place in most part of last week. The correction was almost nothing when compared to the general bullish movement in that month. Price could continue to go upwards – but only in a limited way – owing to the expected weakness in GBP in October. This means that the market would go down by at least, 400 pips in October, thereby invalidating the current bullish bias.

 

This forecast is concluded with the quote below:

 

“Successful trading careers start with plans that specify objectives, which in turn lead to success. There are psychological benefits to establishing objectives and developing plans to reach them.” – Joe Ross

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

The pair has been going southward since September 25, having lost about 200 pips. Price moved briefly below the support line at 1.1700, but closed above it on Friday. However, rallies in this kind of market situation often bring good opportunities to sell short at slightly higher prices, and that is exactly what is expected. Another opportunity to go short would emerge this week, as price turns southwards again.

 

USDCHF

Dominant bias: Bullish

USDCHF has managed to stay bullish for the past few weeks – although price has not gone upwards significantly either. The market was trudging upwards, sauntered above the resistance level at 0.9800, but eventually closed below it on October 6. This week, USDCHF would maintain its bullishness, but it would not be able to move northward significantly until CHF is weakened. The bullishness would also be sustained as long as EURUSD remains bearish.

 

GBPUSD

Dominant bias: Bearish

This market has been going downwards in the past two weeks, and price has come down by 470 pips since then (having come down by 320 pips last week). There is a huge Bearish Confirmation Pattern in the market, and the accumulation territory at 1.3050 has already been tested. The bearish movement can continue this week as other accumulation territories at 1.3000 (a strong accumulation area), 1.2950, and 1.2900 are tested. However, there could be some meaningful rally before the end of the week.

 

USDJPY

Dominant bias: Bullish

Albeit it consolidated throughout last week; the outlook on this market remains bullish. There could soon be an end to the short-term consolidation, as price goes above the supply level at 114.00, or below the demand level at 111.00. A movement above the supply level at 114.00 would help strengthen the existing bullish bias; while a movement below the demand level at 111.00 would threaten it.

 

EURJPY

Dominant bias: Bullish

This cross is basically bullish in the long-term, but neutral in the short-term. Price did practically nothing last week, save moving sideways in the context of an uptrend. Nonetheless, a closer look at the market reveals that bears are about to gain upper hands, and thus, price could go towards the demand zones at 131.50 and 131.00 this week. The bias would not turn bearish until another demand zone at 130.00 is breached to the downside.

 

GBPJPY

Dominant bias: Bearish

GBPJPY moved south by about 360 pips last week, resulting in a Bearish Confirmation Pattern in the market. The outlook on the market remains bearish for this week, as price goes towards other demand zones at 147.00, 146.50 and 146.00 (and possibly exceeding them). However, there could be a serious rally before the end of the week, which cannot render the current bearish bias invalid unless the market rallies by a minimum of 400 pips.

 

This forecast is concluded with the quote below:

 

“As traders, we are the ultimate rain makers. We are the producers. We are the profit seekers. We live by our wits, making decisions that others fear. We claim our freedom and provide an unparalleled lifestyle for those we love.” – Louise Bedford

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

This pair went upwards last week, creating a short-term bullish signal, before price got corrected lower on Friday. This week, a movement above the resistance line at 1.1900 would reinforce the bullish bias (an unlikely event). On the other hand, a movement below the support lines at 1.1750 and 1.1700 would result in a bearish bias. The downwards movement is more likely because the outlook on EUR is bearish for this week.

 

USDCHF

Dominant bias: Bullish

USDCHF is precariously bullish. Price did not do much last week, save movement of about 50 pips to the downside. The situation of the market is currently dicey, but price movement would be largely determined by whatever happens to EURUSD. A weak EURUSD may cause the current bullish outlook on USDCHF to be sustained; otherwise a smooth southward journey would be witnessed this week.

 

GBPUSD

Dominant bias: Bullish

There is a “buy” signal on the Cable – with a Bullish Confirmation Pattern in the market. Price gained over 210 pips last week, and there is much room for price to go upwards this week, reaching the distribution territories 1.3300, 1.3350 and 1.3400. The “buy” signal would not become invalid unless the accumulation territories at 1.3150 and 1.3100 are breached to the downside.

 

USDJPY

Dominant bias: Bullish

This instrument is bullish in the long-term, and bearish in the short-term. Price went downwards last week but not much (closing below the supply level at 112.00 on Friday). There would be a bearish signal when price goes downwards by 200 pips – and that may also bring about a bearish bias in the long-term as well. Should price go upwards from here, the extant bullish bias would be sustained.

 

EURJPY

Dominant bias: Bullish.

The market went upwards in the last few days, testing the supply zone at 133.50. Then the market began to go downwards on Thursday, losing about 120 pips. The bias is bullish in the long-term, and would get strengthen as price goes northwards. There are demand zones at 132.00, 131.50 and 131.00 which would try to impede further bearish movement (for the bias would turn bearish when price goes below the demand zone at 131.00).

 

 

GBPJPY

Dominant bias: Bearish

GBPJPY consolidated throughout last week, and the consolidation could go on this week until there is a rise in momentum. Price would either go above the supply zone at 150.00 (resulting in a bullish outlook); or price could go below the demand zone at 147.00, staying below it (which would put more emphasis on the bearishness of the market). As long as price stays below the aforementioned supply zone or above the demand zone, it would be deemed that the consolidation is ongoing, albeit in the context of an uptrend.

 

This forecast is concluded with the quote below:

 

“And if your trading and investing goals aren’t written down (and reviewed regularly), then you have a much lower probability of achieving them.” – D. R. Barton, Jr.

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Neutral

Price went down on Monday and Tuesday, went up on Wednesday and Thursday, and came down again on Friday. This kind of erratic, zigzag behavior has resulted in a neutral bias on the market. This week, a rise in momentum is expected, for price could rise above the resistance line at 1.1900; or price could fall below the support line at 1.1700. As long as price stays within the two boundaries, the outlook on the market would remain neutral. A movement to the downside is, however, more likely this week, owing to a strong bearish outlook on EUR pairs.

 

USDCHF

Dominant bias: Bullish

This pair has gained roughly 110 pips this month – making further bullish effort last week. Price has tested the resistance level at 0.9850, and it would test it again, breach it to the upside and then target another resistance level at 0.9900. This expectation would be easily realized as EURUSD slides further southwards (a likelihood), and as USD gains stamina. The support level at 0.9800 could be tested briefly despite bullish effort is being made.

 

GBPUSD

Dominant bias: Bearish

The Cable dropped some 190 pips last week, testing the accumulation territory at 1.3100 before the shallow rally that was seen on October 20. The rally could turn out to be an opportunity to go short at a slightly higher price, for there is a Bearish Confirmation Pattern in the market. This week, the accumulation territories at 1.3150, 1.3100 and 1.3050 could be reached (especially as long as USD has some stamina in it).

 

USDJPY

Dominant bias: Bullish

Early last week, USDJPY began to make some attempt to go northward, and the attempt was successful, for its price went upwards by 170 pips last week, reaching the supply level at 113.50. Further northwards movement is possible this week (a strong US dollar versus a weak Yen), and thus, the targets for bulls are located at the supply levels of 114.00 and 114.50. A very strong northwards movement could also cause another supply level at 115.00 to be tested.

 

EURJPY

Dominant bias: Bullish.

This trading instrument consolidated in the first few days of last week, and then broke out northwards. The market went upwards by close to 200 pips, closing above the demand zone at 133.50 on Friday. This week, further upward movement is more likely than a downwards correct. A downward correction would be shallow and would get challenged by the demand zone at 133.00. Apart from this this, price is expected to reach the supply zones at 134.00, 134.50 and 135.00 before the end of the week.

 

GBPJPY

Dominant bias: Bullish

The biases on this volatile cross used to be neutral in the short-term and bullish in the long-term. Nonetheless, a bullish signal has been generated in the 4-hour chart, to corroborate the bullishness on higher time horizons. The outlook on the cross is bullish (as it is on certain other JPY pairs). The supply zones at 150.00, 150.50 and 151.00 could be reached this week. There are demand zones at 149.00 and 148.50: a formidable challenge to bears.

 

This forecast is concluded with the quote below:

 

“Following a detailed plan is important because it removes any underlying emotions from the decision-making process and thus enforces ongoing discipline in our trading activities. The less the trade becomes about us and the more it becomes about our rules and plan, the more we have steered ourselves towards achieving success in the markets on a consistent basis. The plan tells us what to do, as opposed to us looking at a chart and guessing what we should do.” – Sam Evans

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

The market consolidated from Monday to Wednesday and then dropped sharply on Thursday and Friday. There is a Bearish Confirmation Pattern in the market, which makes further drop a possibility. Since the outlook on EUR pairs remains bearish for this week (just as it was bearish for last week), the support lines at 1.1550, 1.1500 and 1.1450 are the next targets. However, the market would start rallying sometime in November, for the outlook on EUR pairs is bullish for November (especially starting from next week).

 

USDCHF

Dominant bias: Bullish

USD/CHF gained 200 pips last week, moving briefly above the strong resistance level at 1.0000, but closed below it on October 27. The parity that was briefly achieved by USD and CHF would be achieved again this week, because the outlook on the pair is bullish for this week. USD is supposed to remain fairly strong, and thus, price would reach the resistance levels at 1.0000, 1.0050 and 1.0100 this week. But the bullish domination would not hold out very long in November, because it is expected that EURUSD would rally in that month, and this would cause a selling pressure on USDCHF.

 

GBPUSD

Dominant bias: Bearish

This trading instrument is slightly bearish. It has been engaged in short-term upswings and downswings for about two weeks – a condition that is expected to continue until a strong volatility arises in the market. The volatility would propel price above the distribution territory at 1.3300 or below the accumulation territory at 1.3000. In November, there would be strong movements on GBP pairs, which would be bullish in most cases.

USDJPY

Dominant bias: Bullish

Although there was no strong northwards movement last week, this pair is bullish. Effort to stay above the supply level at 114.00 has been thwarted, but a lot of activity remains around that supply level. A closer look at the market reveals that bulls are still strongly determined to push the pair upwards, and that is what they will likely achieve this week, for the outlook on certain JPY pairs is bullish for this week.

 

EURJPY

Dominant bias: Bearish

EUR pairs became mostly bearish in the last few days of last week, and EURJPY was not spared either. The market initially made some bullish effort, but further bullish movement was rejected at the supply zone of 134.50 (which was tested several times, without being breached). From that supply zone, price plummeted below the supply zone at 132.00 (about 260 pips). The demand zones at 131.50 and 131.00 could be tested before price begins to rally this week. The rally would continue until a fresh opposition is met at the supply zone of 134.50.

 

GBPJPY

Dominant bias: Bullish

This cross is bearish in the short-term, and bullish in the long-term. From October 23 to 25, some bullish attempt was made, but price came down in October 26 and 27. The outlook on the market is bullish for this week and for most of the month of November. Therefore, price would eventually rally, gaining at least 400 pips in November. There are demand zones at 148.50, and 148.00, which could be tried before price rallies eventually.

 

 

This forecast is concluded with the quote below:

 

“One thing is true in trading: when things are going so well that it is hard to believe what is happening, don't change the disciplines and behavior that are working for you!” – Andy Jordan

 

 

Source: http://www.tallinex.com

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

The market went sideways from Monday to Wednesday and moved further south on Friday (in the context of a downtrend). The bearish movement would continue this week, owing to a bearish outlook on EUR pairs for the week. Thus, price would test the support lines at 1.1600 (which has been nearly tested), 1.1550 and 1.1500. The resistance lines at 1.1700 and 1.1750 ought to do a good job limiting rally effort.

 

USDCHF

Dominant bias: Bullish

Although this pair did not move seriously last week, it was able to maintain its bullishness. On Friday, price closed above the psychological level at 1.0000 - ready to go higher from there. The outlook on USD pairs is bullish (most USD pairs would move slightly or significantly upwards) this week, and this is what enable the pair to go further upwards; as well as the expected weakness in EURUSD. Thus the resistance levels at 1.0050, 1.0100 and 1.0150 would be tested this week and next week.

 

GBPUSD

Dominant bias: Bearish

This instrument went upward from Monday to Wednesday, gaining 160 pips and testing the distribution territory at 1.3300. Further bullish movement was rejected at that distribution territory, as price plummeted on Thursday, losing 250 pips and reaching the accumulation territory at 1.3050. The accumulation territory (though it has done a good job to prevent further fall), would give way as price aims for other accumulation territories at 1.3000 (a strong territory), 1.2950 and 1.2900. The outlook on GBP pairs is bearish for this week.

 

USDJPY

Dominant bias: Bullish

On October 30, USDJPY went downwards, but it rallied on October 31 and then consolidated for the rest of the week. There are demand levels at 113.00 and 112.50, which should try to impede a bearish bias from forming. The market could go upwards this week, reaching the supply levels at 114.50 and 115.00 (and even exceeding that). As long as USD is strong, a vivid pullback may not happen on the market.

 

EURJPY

Dominant bias: Bearish

In the context of a downtrend, this cross rallied 160 pips, after testing the demand zone at 131.50. The rally has turned out to be a good opportunity to sell short at slightly higher prices, for price has started coming downwards from the high of last week (133.13), closing below the supply zone at 132.50 on November 3. As long as EUR is weak, this cross would be having difficulty going upwards. In fact, price may go southwards more than 150 pips this week.

 

GBPJPY

Dominant bias: Bearish

Price is bearish in the short-term, and neutral in the long-term. Just like GBPUSD, it went upwards by 270 pips from Monday to Wednesday, topped at 151.92 on Thursday, and then dropped like stone (310 pips). There is now a Bearish Confirmation Pattern in the market, and given the bearish outlook on GBP pairs, GBP/JPY is more likely to drop further than to rally significantly this week. The next targets for bears are the demand zones at 149.00, 148.50 and 148.00.

 

This forecast is concluded with the quote below:

 

“The elite trader develops a serious approach to the financial markets, weighing risk against potential reward at all times. They hone their craft through detailed recordkeeping, carefully chosen data sources, well-defined trading edges.” - Alan Farley

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bearish

The market consolidated last week, and made some bullish effort on Thursday and Friday (in the context of a downtrend). There is a bullish signal in the short-term, and once the resistance line at 1.1750 is breached to the upside, the bias would turn bullish. The outlook on EUR pairs is bullish for this week, and thus, other resistance lines that would be reached are located around 1.1800 and 1.1850.

 

USDCHF

Dominant bias: Bullish

This pair is bullish in the long-term, but it is becoming bearish in the short-term. Basically, price moved sideways from Monday to Wednesday and then moved lower on Thursday. Further bearish movement is possible this week, and the targets are the support levels at 0.9950, 0.9900 and 0.9850. However, there would not be a very serious bearish movement this week because USD would retain some of its stamina this week.

 

GBPUSD

Dominant bias: Neutral

GBPUSD is quite choppy and volatile, characterized by short-term upswings and downswings with no directional movement. This week or next, it is possible for price to either go above the distribution territory at 1.3300 (creating a strong bullish bias); or it would go below the accumulation territory at 1.3050 (creating a strong bearish bias). Strong directional movements are anticipated on other GBP pairs this week

 

USDJPY

Dominant bias: Bullish

This pair is bullish in the long-term, but bearish in the short-term. As soon as price tested the supply level at 114.50, it went downwards by 100 pips (throughout last week), closing slightly below the supply level at 113.50. Should price move southwards this week, the demand levels at 113.00 and 112.50 would be reached. A northwards movement above the supply levels at 114.00, 114.50 and 115.00 would help strengthen the recent bullish bias.

 

EURJPY

Dominant bias: Neutral

This is a neutral market. Price went downwards last week, testing the demand zone at 131.50, before bouncing upwards by 100 pips, to test the supply zone at 132.50. As long as price oscillates between the supply zone at 133.00 and the demand zone at 131.50, the neutrality in the market would be valid. Once the aforementioned supply zone or demand zone is breached, a directional bias would form.

 

GBPJPY

Dominant bias: Neutral

This cross has been performing what can be called downswings and upswings for several weeks, with no perpetual trending movement. In October price reached a high of 151.38 and a low of 146.93. The current neutral phase in the market would not be over until the supply zone at 151.50 is breached to the upside; or until the demand zone at 146.50 is breached to the downside. Until then, strategies that take advantage of short-term swings in this market would thrive.

 

This forecast is concluded with the quote below:

 

“No matter where you live or what your situation is, if you are willing to put the time and effort in, just about anyone can become a successful trader.” – TradingEducators

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

A bullish signal was generated on this pair last week, as the market gained 200 pips, to test the resistance line at 1.1850. After that, price began to experience some bearish correction, which made it close below the resistance line at 1.1800 on Friday. The bullish signal in the market remains valid, and it cannot be invalidated unless the market goes down by 200 pips from here. This week, the resistance lines at 1.1800, 1.1850 and 1.1900 could be reached.

 

USDCHF

Dominant bias: Bearish

This pair went downwards from Monday to Wednesday, jumped upwards on Thursday, and then went downwards again on Friday, closing at 0.9883 (on that very day). There is a Bearish Confirmation Pattern in the market, and the support level at 0.9850 may be tested easily, breached to the downside, as price goes further downwards towards other support levels at 0.9800, and 0.9750 (the last target of the week).

 

GBPUSD

Dominant bias: Neutral

The bias on Cable is essentially neutral, for price has not gone in a strong directional mode in the past 4 weeks. There is a distribution territory at 1.3300 and an accumulation territory at 1.3050 (as space of 250 pips). These distribution and accumulation territories have proven to be able to withstand bearish and bullish pressures in recent times; and as long as price remains within them, the ongoing neutrality would remain. Once either of the territory is breached, a directional bias would occur.

USDJPY

Dominant bias: Bearish

USDJPY went sideways on November 13, and began to come down from November 14. Price went down by 160 pips last week, testing the demand level at 112.00 on November 17 (before the close of the market). This week, it is possible that price would go beneath the demand level at 112.00, and aim for another demand level at 111.50. Nonetheless, there would possibly be a strong bullish reversal before the end of the week.

 

EURJPY

Dominant bias: Neutral

The fact is, the EURJPY cross has been consolidating since the beginning of October (in the long-term). In the short-term, there are short-term bearish and bullish swings in the market, with no directional bias. For example, price went upwards last week, on Monday and Tuesday; but the bearish movement of Wednesday, Thursday and Friday has rendered the bullish movement of Monday and Tuesday invalid. The current neutrality would continue until price goes upwards by at least, 300 pips; or until it plummets by at least 300 pips. Any pip movement below that would not be sufficient to end the current neutrality.

 

GBPJPY

Dominant bias: Bearish

This is also a choppy and equilibrium market, for things have gone slightly bearish. The market would need to reach the demand zone at 146.50, for the bearish signal to become stronger in the market. On the other hand, a breach of the supply zone at 150.00 would swiftly bring an end to the bearish bias. A movement to the upside is more likely this week, since the outlook on some JPY pairs is bullish for the week.

 

This forecast is concluded with the quote below:

 

 

“Building a Forex trading strategy is much like building a house. You need layers and a good foundation.” – Jarratt Davis

 

 

Source: http://www.tallinex.com

[analyst75 12]

Here’s the market outlook for the week:

 

EURUSD

Dominant bias: Bullish

This pair went upwards last week, after moving sideways on Monday and Tuesday. Price gained 210 pips, closing above the support line at 1.1900 and targeting the resistance line at 1.1950. Then another resistance level at 2.0000 (a psychological line) would be reached and possibly broken to the upside in December, as price goes further upwards. The outlook on EUR pairs is bullish for December

 

USDCHF

Dominant bias: Bearish

The market has come down by 220 pips in November 2017 – going downwards by 100 pips this week alone. There is a huge Bearish Confirmation Pattern in the market, which means price could continue going southwards, reaching the support levels at 0.9750, 0.9700 and 0.9650. These targets ought to be reached within the next several trading days, for there cannot be a meaningful rally in the market as long as EURUSD is strong.

 

GBPUSD

Dominant bias: Bullish

There is a bullish signal on GBPUSD, which has come about as a result of desperate effort by bulls, to price upward against bearish forces in the market. There is a possibility that price could reach the distribution territories at 1.3350, 1.3400 and 1.3450 this week (and in December). However, price would eventually fall seriously in December because the outlook on GBP pairs is strongly bearish for that month. Long trades may not make much sense on GBP pairs in December.

USDJPY

Dominant bias: Bearish

This trading instrument has lost about 300 pips in November, after testing the supply level at 114.50 on November 6. The market may continue going downwards, reaching the demand levels at 111.00, 110.50 and 110.00 (providing that the selling pressure is great in the market). However, things would eventually turn bullish this week, for the outlook on JPY pairs is bullish for the week. There would be a bullish reversal that would end up generating a “buy” signal.

 

EURJPY

Dominant bias: Bullish

This cross is bullish in the short-term and neutral in the long-term. The cross went sideways on November 20 – 23. Since bullish movements are anticipated on JPY pairs this week, it is interesting that EURJPY has already started the journey. Price managed to close above the demand zone at 133.00 on Friday, and would gain another 200 pips before the end of the week. Once the supply level at 134.00 is breached to the upside, the bias on the market would also become bullish in the long-term.

 

GBPJPY

Dominant bias: Neutral

GBPJPY is not an attractive market at the present. It has been consolidating for the past several weeks, and the consolidation would continue until there is a sustained breakout in the market. The most likely direction this week (and probably in December), would be northwards. The bias on the market would turn bullish once price goes above the supply zone at 150.00, which would not be an easy goal to achieve, since GBP would sometimes become weak in itself.

 

This forecast is concluded with the quote below:

 

“Think of patience as a primary part of your trading strategy. Don't assign it a secondary or lesser role, elevate it on the list of what you consider important. And don't be put off by it when it doesn't seem to be working — it's working.” – Andy Jordan

 

Source: http://www.tallinex.com