Weekly Trading Forecasts on Major Pairs

Weekly Trading Forecasts on Major Pairs (November 28 – December 2, 2016)     
   
Here’s the market outlook for the week:
   
EURUSD
Dominant bias: Bearish   
Last week, this pair moved largely sideways in the context of a downtrend. A break out of the sideways movement should happen before the end of this week (or next week), which would most probably favor bears. Although this pair is expected to continue its bearishness, especially in December, some bullish effort would take place, which may enable price to go upwards by 200 pips or more, before seeing another bearish correction, eventually. Time would tell whether EUR would reach parity with USD.

USDCHF
Dominant bias: Bullish
Just like EURUSD, USDCHF also consolidated throughout last week, in a context of an uptrend. A breakout should happen before the end of this week, ending the current consolidation. Price is supposed to target the resistance levels at 1.0200 and 1.0300. On the other hand, bullish effort on the part of EURUSD might force USDCHF to retrace temporally southwards, towards the support levels at 1.0100 and 1.0000.

GBPUSD
Dominant bias: Neutral
GBPUSD went flat throughout last week. The flat movement started about two weeks ago and it has resulted in a neutral bias in the near-term, while the major trend in the market remains bearish. A rise in momentum is expected this week, which would most probably favor the dominant bearish trend. The outlook on GBP pairs is bearish for this week, and thus, further southwards movement is expected on GBPUSD.

USDJPY
Dominant bias: Bullish
USDJPY is currently one of the strongest moving currency pairs. Price went upwards 310 pips this week, topping at 113.89, before getting corrected a bit lower on Friday. Since November 9, price has gone upwards by over 1200 pips; plus the outlook on the market is bullish for this week, again (the outlook is also bullish on other JPY pairs). Therefore, occasional pauses and corrections are supposed to be transitory this week, as price goes further north.
   
EURJPY
Dominant bias: Bullish   
This is also a bull market – owing to the strong Bullish Confirmation Pattern present in it. Price went north 250 pips last week, after consolidating on Monday and Tuesday. The supply zone at 120.00 has been tested, and it might be broken to the upside this week, owing to the ongoing buying pressure in the market, brought about by persistent weakness in Yen. After the supply zone at 120.00 is overcome, the next targets would be the supply zones at 130.00 and 140.00.

This forecast is concluded with the quote below:

“Trading and markets have been a major part of my life for almost 60 years. Trading has been the means through which my family and I have received many blessings.” – Joe Ross 






I simply copy profitable trades on Tallinex.com. Trading with peace of mind.
Weekly Trading Forecasts on Major Pairs (December 5 - 9, 2016)     
   
Here’s the market outlook for the week:
   
EURUSD
Dominant bias: Bearish   
EURUSD consolidated throughout last week – in the context of a downtrend. A closer look at the market reveals that there has been some consolidation to the upside, and there would be some bullish attempt this week. EUR would rally versus most other major currencies, save USD, which is expected to continue strengthening this week. There are resistance lines at 1.0750 and 1.0800. There are also support lines at 1.0550 and 1.0500.

USDCHF
Dominant bias: Bullish
This pair also consolidated last week; while consolidation to the downside is revealed by a closer look. USD would remain strong this week, and would be seen going upwards against certain major currencies. The challenge is that CHF would also make some rally attempts this week, and thus, USDCHF may find it somewhat difficult to rally massively. There are resistance levels at 1.0150 and 1.0200. There are also support levels at 1.0050 and 1.0000.

GBPUSD
Dominant bias: Bullish 
Cable ended a two-week equilibrium phase by breaking out significantly. The breakout was well anticipated and it ended up favoring bulls, as price went up 330 pips last week, slashing through the accumulation territory at 1.2700 and closing above it. This week, Cable would rally versus certain majors (like NZD and AUD), and of course, it is currently rallying against USD. This is something that may continue, but not without challenge from bulls.   

USDJPY
Dominant bias: Bullish
This currency trading instrument experienced some bullish movement last week. Price went up 300 pips, testing the supply level at 114.50, and unable to go above that supply level. Price underwent some bearish correction on Friday, but the bullish outlook is far from over. In fact, the outlook on the market this week is also bullish, and further northwards journey is expected. Price would need to go above the supply level at 114.50, and then continue towards the supply levels at 115.00 and 115.50. 
   
EURJPY
Dominant bias: Bullish   
This cross underwent a smooth northwards movement last week, topping at 121.88, before closing below the supply level at 121.50. There is a Bullish Confirmation Pattern in the market and further bullish movement could be witnessed this week. There are possible bullish targets at the supply zones of 122.00, 122.50 and 123.00. On the other hand, the demand zones at 120.00 and 119.50 should try to hinder vivid pullbacks this week.

This forecast is concluded with the quote below:

“Over the coming weeks and months, many excellent short, medium and long-term trading opportunities for low risk Forex trades will present themselves. Now is the time to put together your game plan with multiple edges to profit from these trending currency pairs… Whether you want to open investment positions (using the weekly or daily chart), swing trade the 4-hour chart, or day trade the 5 minute charts, the opportunities are going to be plentiful. With these nascent trends, the leverage, the liquidity, and the 24-hour-trading the Forex market offers, you have to ask yourself: why aren’t you trading currencies yet?” - Gabriel Grammatidis (Source: Vantharp.com)






I simply copy profitable trades on Tallinex.com. Trading with peace of mind.
Weekly Trading Forecasts on Major Pairs (December 12 – 16, 2016)     
   
Here’s the market outlook for the week:
   
EURUSD
Dominant bias: Bearish   
This pair made some bullish attempt in the first few days of last week. Price rallied 300 pips, testing the resistance line at 1.0850, before it began a serious bearish movement. The bullish gains that were initially made last week, were eventually lost as price plummeted, to close just above the support line at 1.0550, after testing it. The market outlook is bearish for this week, since EUR is expected to continue its weakness while USD would continue gathering stamina. There is a possibility that EUR would reach parity with USD in a foreseeable future.

USDCHF
Dominant bias: Bullish
Last week, USD/CHF moved sideways from Monday till Wednesday, and then started moving upwards on Thursday, in conjunction with the extant bullish bias. Price tested the resistance level at 1.0200, and later closed below it. The outlook on the market is bullish for this week; price could reach the resistance levels at 1.0250 and 1.0300. However, it would also be seen that CHF is rallying versus some major currencies, which may prove to be a challenge for the bullishness of USDCHF.

GBPUSD
Dominant bias: Bearish   
Cable went upwards on Monday and Tuesday, reached the distribution territory at 1.2750. Price attempted to stay above that distribution territory, but the attempt was rejected as a southwards movement began, which eventually posed a threat to any bullish signal in the market. Price would move further southwards this week, going below one accumulation territory after the other. The outlook on GBP pairs is bearish for the week.   

USDJPY
Dominant bias: Bullish
USD/JPY consolidated from December 5 to 7, and the rallied on December 8 and 9 (though the consolidation started earlier than that). Since the low of November 9, the market has gone up by 1400 pips, and this would continue. As it was forecast every week in the last three weeks, the outlook on this market, and as well as other JPY pairs, remains bullish. The supply levels at 115.50, 116.00 and 116.50 could be reached this week.
   
EURJPY
Dominant bias: Bullish   
There is a conspicuous Bullish Confirmation Pattern on this trading instrument, albeit it is currently volatile. Price has recently swung up and down in the context of an uptrend, but the overall movement would be bullish. The targets for the week are supply zones at 122.00, 122.50 and 123.00, which were all tested last week. The major reason why price is generally bullish here is because there is a serious weakness in Yen, and as long as the weakness continues, EUR (which is weak on its own), would manage to keep on going upwards against it. 

This forecast is concluded with the quote below:

“Trading and markets have been a major part of my life for almost 60 years. Trading has been the means through which my family and I have received many blessings.” – Joe Ross


I simply copy profitable trades on Tallinex.com. Trading with peace of mind.
Weekly Trading Forecasts on Major Pairs (December 19 - 23, 2016)      
   
Here’s the market outlook for the week:
   
EURUSD
Dominant bias: Bearish   
EURUSD trended downwards last week, just as it was expected. Price moved sideways from Monday till Wednesday, when it started dropping further downwards. The support line at 1.0400 was tested, and although price closed above it, it would be tested again. The outlook on EURUSD is bearish for this week. So we may see further bearish movements which may enable price to break the support lines at 1.0400, 1.0350 and 1.0300 to the downside. Eventually, EUR might reach parity with USD. 

USDCHF
Dominant bias: Bullish
In exact opposite manner to EURUSD, this market underwent a shallow bearish retracement within December 12 and 14. Price went up significantly on December 14, moving briefly above the resistance level at 1.0300, and later closing below it. USDCHF would continue to make rally attempts, though it would come across some challenges this week. While bearish corrections could be contained around the support levels of 1.0050 and 1.0000, the resistance levels at 1.0300 and 1.0400 would be the targets for this week.

GBPUSD
Dominant bias: Bearish   
This market consolidated on Monday and Tuesday, to drop southward on Wednesday, according to forecast last week, in the context of a downtrend. The accumulation territory at 1.2400 has been tested again and again, but there is a considerable amount of opposition to the bearish movement, around the accumulation territory. Price would go below it this week, owing to the fact that the bias on GBPUSD (as well as some GBP pairs), remains bearish for this week and for the rest of this month. Price would still go downwards by a minimum of 300 pips before the end of this year.

USDJPY
Dominant bias: Bullish
According to last week analysis, this trading instrument went upwards 300 pips last week, after moving sideways on Monday and Tuesday. Since November 9, price has trended northwards more than 1700 pips; and the northward movement could continue this week. There is Bullish Confirmation Pattern in the market and the supply levels at 118.50 and 119.00 may be tested this week. As from now on, the movements on JPY pairs would be determined by strength of individual currency, not the weakness in Yen. This means USDJPY could rally further while GBPJPY could plummet.
   
EURJPY
Dominant bias: Bullish   
There are going to be serious movements in the JPY markets this week (while next week would be quiet), and EURJPY would not be an exception. This is a bull market, and while there may be occasional pauses and consolidation along the way, there could be further bullish movement. However, the ongoing weakness in EUR could scuttle this expectation. As long as price does not cross the demand zone at 121.00 to the downside, the bullish bias would hold.   

This forecast is concluded with the quote below:

“In order to taste success in the trading market, you'll need to develop really simple strategies. You're likely to take trading decisions in a more confident way, remain headstrong and gain more winning opportunities when you follow some really simple strategies.” - Sean Lee





I simply copy profitable trades on Tallinex.com. Trading with peace of mind.
Weekly Trading Forecasts on Major Pairs (December 26 - 30, 2016)     
   
Here’s the market outlook for the week:
   
EURUSD
Dominant bias: Bearish   
This pair trended downwards on Monday and Tuesday, and then began to make some bullish attempt, all in the context of a downtrend. A strong movement is not anticipated this week (although it is a possibility), for the market may not do more than it did last week. No matter what happens, there is not going to be an end to the current bearish outlook this year. In fact, price may test the support lines at 1.0400 and 1.0350.   

USDCHF
Dominant bias: Bullish
USDCH merely zigzagged throughout last week, with no directional movement. The overall bias is bullish, and thus, when momentum returns to the market, it may be in favor of the bias. Just like EURUSD, strong movement is not expected this week (but it can happen). There are resistance levels at 1.0300 and 1.0350. As long as price does to go below the psychological level at 1.0000, the outlook on the market would remain bullish.   

GBPUSD
Dominant bias: Bearish   
GBPUSD dropped 250 pips last week, giving more and more emphasis on current weakness in the market. Price closed below the distribution territory at 1.2300 on Friday, targeting the accumulation territories at 1.2250, 1.2200 and 1.2150. There are huge Bearish Confirmation Patterns in the daily and 4-hour charts, which make long trades illogical at the present. A very strong bearish movement may be witnessed on GBPUSD before the end of the year. 

USDJPY
Dominant bias: Bullish
The market consolidated throughout last week. The major bias is bullish, and that is supposed to continue till the end of this year. There may be a rise in momentum, which may push price towards the supply levels at 117.50, 118.00, and 118.50. These supply levels were previously tested this month, and they could be tested again. Only a movement of about 200 pips to the south could threaten the current bias.
   
EURJPY
Dominant bias: Bullish   
This currency instrument trended downwards on Monday and then moved sideways till the end of the week, closing at 122.515 on Friday. There would soon be a directional movement in the market, but right now, it is better to stay away until that happens (unless scalping is being done in the market). A movement below the demand zone at 120.50 would end the bullish bias, while a movement above the supply zones at 123.50 and 124.00 would strengthen it.

This forecast is concluded with the quote below:

“[In trading] I choose joy over disappointment and contentment rather than instant gratification.” - D. R. Barton, Jr.





I simply copy profitable trades on Tallinex.com. Trading with peace of mind.
Weekly Trading Forecasts on Major Pairs (January 23 - 27, 2017)

Here’s the market outlook for the week:
                                         
EURUSD
Dominant bias: Bullish
EURUSD moved upwards by about 100 pips last week, now testing the resistance line at 1.0700. The upwards movement last week was not strong, but it was noticeable enough to show that the recent bullishness in the market remains a valid thing. This week, the resistance lines at 1.0750, 1.0800 and 1.0850, may be attained, as long as EUR continues to be stronger than USD in the near-term. 
USDCHF
Dominant bias: Bearish
USDCHF went down lower and lower last week, continuing the bearish journey that started early this month. The great psychological level at 1.0000 was tested again and again, but price could not breach it to the downside (staying below it). Price has repeatedly bounced off the psychological level, but as the bias is bearish, upwards bounces would only provide good short-selling opportunities. As long as EURUSD goes up, USDCHF would go down, and the psychological level at 1.0000 would end up being breached.

GBPUSD
Dominant bias: Bearish   
GBPUSD began the last week on a bearish note (other GBP pairs gapped down and then started trending upwards). Price moved up by more than 410 pips, reaching the distribution territory at 1.2400. However, the strong rally was not enough to overturn the recent bearish outlook on the market. For the bearish outlook to be overturned, price would need to go upwards by at least, another 300 pips this week; otherwise, the rally that happened can eventually turn out to be a temporary rally that later confirms bears’ supremacy. 

USDJPY
Dominant bias: Bearish
This pair went downwards on Monday and Tuesday and then started to go upwards from Wednesday to Friday. There is still a Bearish Confirmation Pattern in the 4-hour chart. Unless price is able to stay above the supply level at 117.00 - which would require a serious rally - the bearish outlook would remain logical. There are demand levels at 114.00, 113.50 and 113.00, which may be tested again, in case price comes down.
                                                                                                                               
EURJPY
Dominant bias: Neutral
This cross pair briefly ended its sideways movement when it assumed a southward journey on January 9. Price attempted to go further downwards last week, but further downwards movement was rejected before it reached the demand zone at 120.50. And since price has gone upwards on January 18 and 19, it has been forced back into a neutral region. This week, a serious northwards movement would bring about a “buy” signal; while a southward movement would simply bring back the recent “sell” signal in the market.

This forecast is concluded with the quote below:


 “What I do believe, most of the time, are the numbers on the statement of my trading account. If they are getting bigger, then I am winning.”  – Joe Ross





I simply copy profitable trades on Tallinex.com. Trading with peace of mind.
Weekly Trading Forecasts on Major Pairs (January 30 – February 3, 2017)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
This pair went flat from Monday to Wednesday, not being able to stay above the resistance line at 1.0750. Price then declined a bit, in the context of an uptrend. Price has been going upward gradually since the beginning of this year, and this has led to a bullish bias, which would, however, be challenged in February. The downtrend may even start this week, as EUR is expected to become weak versus other currencies (except JPY) in February.

USDCHF
Dominant bias: Bearish
USDCHF went sideways throughout last week – slightly below the resistance level at 1.0000. Price may temporarily go above that resistance level, but it would later journey further south. Apart from the sideways movement that was seen last week, price has been coming down gradually since the beginning of this year, and this has led to a bearish bias on the market. The bearish bias should continue in the month of February, owing to expected stamina in CHF.  A bearish journey in EURUSD may help bring about some transitory rallies on USDCHF, but the overall movement would be bearish in February.

GBPUSD
Dominant bias: Bullish
Cable rallied 280 pips last week, topping at the distribution territory of 1.2650, before the shallow retracement that started on Thursday. Since the low of January 16, price has moved upwards by 650 pips, but the bullish bias that has resulted from that may end soon, as a result of a bearish outlook on the Cable (and some other GBP pairs) in the month of February. While, price could test the distribution territories at 1.2700, 1.2750 and 1.2800, it might not be able to go very far, as chances of serious bearish movements are very high in February.

USDJPY
Dominant bias: Bearish
This trading instrument has been coming down gradually since early January, and that has led to a Bearish Confirmation Pattern in the market. On Thursday, price began to rise and later on Friday, it closed above the demand level at 115.00. Further movement may take price towards the supply levels at 116.00, 116.50 and 117.00; and that may end up invalidating the recent bearish bias. Generally, the outlook on USDJPY for February is bullish.

EURJPY
Dominant bias: Bullish
This cross pair is bullish in the short-term and neutral in the medium-term. Price managed to journey northward last week, creating a short-term bullish signal. In February, the only factor that would help this cross further upwards is the expected weakness in Yen (which would also help most other JPY pairs to rally). In February, an overall movement of at least, 500 pips, is expected in favor of bulls. Nonetheless, there may be some serious but shallow pullbacks along the way.

This forecast is concluded with the quote below:


 “It's time to tap into your inner conquistador and become a winning trader.” – Trading Educators

Source: www.tallinex.com




I simply copy profitable trades on Tallinex.com. Trading with peace of mind.
Weekly Trading Forecasts on Major Pairs (February 6 - 10, 2017)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
The bias on this pair is currently bullish. Price managed to go upwards last week, reaching the resistance line at 1.0800, but not able to stay above it. Several failed attempts were made, to breach the resistance line to the upside, and the goal must be achieved to save the current bullish bias. A movement above the resistance line at 1.0800 would reinforce the bullish bias – and failure to do that would eventually bring about a large pullback in the market.

USDCHF
Dominant bias: Bearish
This market has been trudging south since the beginning of this year. From early January till now, price has gone down roughly 350 pips. As long as EURUSD goes north, USDCHF will continue to go south, for only a serious pullback on EURUSD can bring a meaningful rally on USDCHF. CHF is expected to become strong this month; plus the resistance level at 1.0000 would endeavor to impede rallies in the market. It would be difficult for a strong rally to take place. 

GBPUSD
Dominant bias: Bullish
GBPUSD made attempt to go upwards last week, but further upwards movement was rejected at the distribution territory at 1.2700. From there, price got corrected by over 200 pips, to close above the accumulation territory at 1.2450 on Friday. An upward movement from here would save the recent bullish bias, while a downwards movement from here would render the bullish bias invalid. Generally, GBP pairs are supposed to trend seriously upwards this month. 

USDJPY
Dominant bias: Bearish
The current bias on this currency trading instrument is bearish, because price has been trending downwards since the beginning of this year. Price has come down more than 500 pips since January, and it is approaching major demand levels. The demand levels at 112.00 and 111.00 could be tested on breached, temporarily. There is a strong possibility that JPY pairs would rally this week (most probably within Monday to Wednesday), and should that happen, USDJPY would rally seriously. 

EURJPY
Dominant bias: Neutral 
The bias on this cross pair is essentially neutral, though there are bearish signals in small timeframes. The neutral bias can be ended by the expected rally on JPY pairs, which would also carry this cross pair along. Price might temporarily reach the demand zones at 121.00, 120.50 and 120.00. On the other hand, a serious rally would push price upwards by a minimum of 200 pips this week. 

This forecast is concluded with the quote below:

“Don't let another year go by where you aren't inspired to cash in on everything the markets have to offer.” – Louise Bedford


Source: www.tallinex.com




I simply copy profitable trades on Tallinex.com. Trading with peace of mind.
Weekly Trading Forecasts on Major Pairs (February 13 - 17, 2017)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This pair trended downwards last week, going below the resistance line at 1.0650. The movement so far this month is essentially bearish and there is a possibility that further bearish movement would continue to hold out, as the support lines at 1.0600, 1.0550 and 1.0500 are targeted this week. There is a need for price to go above the resistance line at 1.0800 before the current outlook can be rendered invalid.

USDCHF
Dominant bias: Bearish
USDCHF is bearish in the medium-term, and bullish in the short-term. In the short-term, price has moved from the support level at 0.9900, towards the resistance level at 1.0050. This has already generated a short-term bullish signal, and a movement above another resistance level at 1.0150 would result in a Bullish Confirmation Pattern in the market. It is important to note that price has succeeded in breaching the great level at 1.0000 to the upside, making more bullish movement very likely.   

GBPUSD
Dominant bias: Neutral
GBPUSD is currently in an equilibrium phase – having moved generally sideways last week (though price was volatile on February 7). While the market could remain in the equilibrium phase, there is going to be a serious breakout this week or next, which would most probably favor bears. The outlook on GBP pairs for this month remains bearish and heavy selling pressure could start anytime.   

USDJPY
Dominant bias: Bearish
The bullish expectation for JPY pairs did not materialize last week, save a weak rally that was seen on Thursday. The bias on the market is still bearish, and price could attempt to test the demand levels at 112.50 and 112.00. On the other hand, the bullish expectation on JPY pairs are still in place: JPY pairs could assume strong rallies any day this week or next; with USDJPY being caught in a strong buying pressure.

EURJPY
Dominant bias: Bearish 
From Monday to Wednesday, this cross pair went down 180 pips, testing the demand zone at 119.50. Price has been making some negligible bullish attempt since then, rallying by 170 pips and getting corrected lower on Friday. This kind of alternative but transient victories between the bull and the bear would continue until there is a protracted, directional movement, which is expected to be in favor of the bull. Short trades are may not be held onto for too long.

This forecast is concluded with the quote below:

“By the way, the absolute best trading opportunities these days are in Forex.” – Dr. Van K. Tharp







I simply copy profitable trades on Tallinex.com. Trading with peace of mind.
Weekly Trading Forecasts on Major Pairs (February 20 - 24, 2017)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
From Monday to Wednesday, this pair went downwards, moving below briefly below the support line at 1.0550. Price then rallied above the resistance line at 1.0650, before getting corrected lower on Friday. The outlook on the market is bearish, and further bearish movement is expected this week, as price targets the support lines at 1.0550 (which was tested last week), 1.0500 and 1.0450. 

USDCHF
Dominant bias: Bearish
Oddly enough, the current outlook on USDCHF is bearish, just like the outlook on EURUSD. One of the reasons behind this is occasional bouts of stamina in CHF, which sometimes put checks on USDCHF bullish ambitions. The market level at 1.0000 has now become insignificant, since price just goes above and below it at will. For example, price went below it on February 16, only to go above it on February 17. Only a very strong bearish plunge on EURUSD would help push USDCHF upwards considerably.

GBPUSD
Dominant bias: Neutral
GBPUSD has been moving sideways for at least, two weeks. The market did nothing noteworthy last week. This directionless movement would soon end, and a strong momentum would rise, pushing price in a clear direction. A closer look at the market shows that bears’ hands are currently stronger than bulls’ hands, and following the ongoing impasse, price could plunge southwards. The outlook on GBP pairs remains bearish.

USDJPY
Dominant bias: Bearish
In the context of a downtrend, price moved upwards from February 9 – 15, and then began to pull back from that day. On February 17, price closed below the demand level at 113.000, leading to a Bearish Confirmation Pattern in the market. The targets for this week are the demand levels at 112.50, 112.00 and 111.50. This, however, does not rule out a possibility of a strong rally before the end of the month. 

EURJPY
Dominant bias: Bearish 
This cross is bearish in the long-term and neutral in the short-term. The market consolidated from Monday to Friday and then started moving downwards as it plunged by over 120 pips that day. This is in agreement with the southward movement that was started in the beginning of this month; plus further southward movement is possible. On the other hand, a possibility of a serious rally still remains… on JPY pairs.

This forecast is concluded with the quote below:

“For some traders, commitment to success is not optional but mandatory.” – Joe Ross






I simply copy profitable trades on Tallinex.com. Trading with peace of mind.