Weekly Trading Forecasts on Major Pairs

FTMO Trader Scouting
What Super Traders Don’t Want You To Know

“Trading and investing are games of possibility. We know from quantum physics that the universe is a place of infinite possibility. Isn’t it time that you found your own individual self and expressed that in your trading and investing?”

The markets offer riches that can’t be accessed unless you become a trader or an investor. Despite your trading experience, you’re to stand your ground in determination, no matter the challenges and uncertainty in the markets. Refuse to give up or give in to the pressure to quit. Imagine if setting a goal for yourself, you planned to make a certain percentage within a month or a quarter, but you ended up reaching that goal only after six months or one year; don’t feel bad. Instead, say, “I’ll meet the goal sooner next time.” You don’t need to be discouraged simply because you fail to meet a goal for a period of the time.

We believe it’s possible to make profits in the markets, and that can be done consistently on annual basis. What you don’t believe, you don’t get empowered to become. We don’t care what causes the beginning of a long-term bias in a market. What matters is that we profit from the bias, without knowing why the bull and the bear take their positions. Many people make money from long-term biases, and certain people lose; but a determined trader will not quit. If a horse throws off a determined rider, she or he will mount it again.

“Twenty years from now you will be more disappointed by the things you didn’t do than by the ones you did,” said Mark Twain. Poverty has become widespread and it’s bound to continue increasing globally. Think about your loved ones and your future. Think about your children and your financial security when you become old. Do you want your child to be richer than you? Please think about teaching your kid the art of trading, for it doesn’t hurt if your kid becomes the wealthiest person in your family.

Trading is one of the greatest jobs and one of the highest paying jobs in the world, but it’s also one of the most challenging. When the challenges are overcome, honestly, things would become easier than thought. Our breakthrough begins in a new direction, for speculation is a fantastic lifestyle in which our brains help us make money and our self-control helps us remain permanently successful.

WHAT SUPER TRADERS DON’T WANT YOU TO KNOW.

Copyright: Advfnbooks.com

This piece is ended with a quote from Mercedes Oestermann van Essen. The quote at the beginning of the piece is also from her:

“Becoming comfortable with who you are, and learning what motivates you in a positive and expansive way is the first step on the road to lasting trading success and financial freedom.”
 
Weekly Trading Forecasts on Major Pairs (April 6 - 10, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
This pair first traded downwards last week, reaching the support line at 1.0750. Around that support line, further bearish movement was rejected and price rose by 250 pips. There is now a clean Bullish Confirmation Pattern in the chart: there is a possibility that the resistance lines at 1.1050 and 1.1100 could be challenged this week. The support lines at 1.0950 and 1.0800 should try to resist possible bearish plunges along the way.

USDCHF
Dominant bias: Bearish
Greenback is weak and Swissie is strong – hence the current bearish outlook on USD/CHF market. Price tried to rally last week, reaching the resistance level at 0.9750, but further rally was rejected there and price nosedived. The bears are now testing the support level at 0.9500; they might push the price towards the support levels at 0.9450 and 0.9400. With more intense bearish pressure, the price might even go beyond those support levels.

GBPUSD
Dominant bias: Neutral
Last week, price on GBPUSD moved between distribution territory at 1.4850 and the accumulation territory at 1.4750, before a breakout to the upside occurred. In spite of the bullish breakout, which happened on April 3, 2015, the market is generally trendless. The market is now above the accumulation territory at 1.4900, and things would turn bullish as soon as the distribution territory at 1.5000 is overcome. Any movement below the accumulation territories at 1.4850 and 1.4800 will simply reinforce the existing neutral bias.

USDJPY
Dominant bias: Bearish
All bullish effort on this currency trading instrument has been rendered useless. In fact, long trades are no longer sensible here, for the trend has turned bearish. Generally, the outlook on JPY pairs for the month of April is bearish and the weakness may start before the end of this week or next week. The next barrier the bears will have to overcome is the demand level at 118.50, which is currently an obstacle to the bearish outlook.

EURJPY
Dominant bias: Bullish
One of the factors that account for the strength in this market is the fact that EUR is strong. It is probable that the strength will continue, which may make the market go further upwards. Therefore, the supply zones at 131.50 and 132.00 could be attained. One thing should be noted: the outlook on JPY pairs for this month is bearish and this cross would go up only as long as EUR is stronger than Yen. Whenever Yen becomes stronger than EUR, the cross would plummet.

This forecast is concluded with the quote below:

“…Look at what the market is doing right now. When it’s going up, then buy. When it stops going up, then sell. And when it’s going down, go short or stay out. It’s that simple.” – Dr. Van K. Tharp
 
Weekly Trading Forecasts on Major Pairs (April 13 - 17, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This pair plunged by 400 pips last week, owing to the very weak condition of EUR. In fact, most EUR pairs are weak – hence the justification of the ongoing bearish movement. The market is expected to keep going further downwards next week, reaching the support lines at 1.0500 and 1.0450. On the upside, there are resistance lines at 1.0700 and 1.0800, which should challenge any rallies in the course of this week, for only a break above the resistance line at 1.0800 could threaten the current bearish outlook.

USDCHF
Dominant bias: Bullish
USD is strong and CHF is generally weak. The USD/CHF pair was able to trend higher last week, rising from the support level at 0.9500 and reaching the resistance level at 0.9800. The expectation for this week is bullish, which may see price reaching other resistance levels at 0.9900 and 0.9950. The bears would not keep their fingers crossed, looking at this pair as it makes further bullish journey. However, the bears’ attempt to push the pair downwards may be frustrated at the support levels at 0.9700 and 0.9600.

GBPUSD
Dominant bias: Bearish
The recent equilibrium phase on Cable came to an end as the market nosedived, testing the accumulation territory at 1.4600. Cable reached a high of 1.4980 and a low of 1.4586 last week. There is now a strong Bearish Confirmation Pattern in the market, and it is probable that further southwards movement could make price reach the accumulation territory at 1.4500. On the other hand, there is also a possibility that GBP itself could make visible effort to rally this week, so the distribution territories at 1.4850 and 1.4900 are being watched.

USDJPY
Dominant bias: Bullish
The bias on this currency trading instrument is still bullish, though the bias is in a precarious position. The bulls are fighting desperately to sustain their hegemony, but price constantly threatens to break down. The only factor that keeps the bullish bias in place is the stamina in Greenback itself. Should Greenback experience any weakness, this trading instrument can tumble. The bulls might keep on struggling to maintain the bullish bias; which will not be truly over until the demand level at 119.00 is broken to the downside.

EURJPY
Dominant bias: Bearish
A drop of more than 350 pips on this cross has been significant enough to bring about a confirmed bearish outlook on the cross. On Friday, April 10, 2015, price closed at 127.47, while the bias remains strongly bearish. This cross may continue going south this week, reaching the demand zones at 126.50 and 126.00. EUR is weak indeed.

This forecast is concluded with the quote below:

“Frankly, I don't see markets; I see risks, rewards, and money.” - Larry Hite
 
Weekly Trading Forecasts on Major Pairs (April 20 - 24, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
This pair moved upwards by over 260 pips last week. The bullish journey began at the support line of 1.0550, and price is now above the support line at 1.0800. The next targets for the bulls are located at the resistance lines of 1.0900 and 1.1000, but there must be an ongoing buying pressure for these targets to be reached. The current bullish outlook is delicate, because any weakness in the Euro could send the market tumbling, reaching the support lines at 1.0700 and 1.0600.

USDCHF
Dominant bias: Bearish
USD/CHF nosedived by 300 pips last week. Price reached a high of 0.9862 and a low of 0.9494. The support level at 0.9500 has already been tested and it could be tested again (even breached to the downside). Ultimately, the support levels at 0.9400 and 0.9350 can also be tested. On the upside, there are resistance levels at 0.9650 and 0.9750.

GBPUSD
Dominant bias: Bullish
Cable is now strong – the bullish effort that started recently having paid off. There is now a strong Bullish Confirmation Pattern in the market. Price moved upwards by over 400 pips, rising from the accumulation territory at 1.4600 and testing the distribution territory at 1.5050. In spite of the current shallow bearish retracement, Cable is normally expected to uphold its strength, attaining the distribution territories at 1.6000 and 1.0650.

USDJPY
Dominant bias: Bearish
USDJPY has gone bearish, being able to go below the supply level at 119.00. Price has to maintain its position below that supply level for the bearish outlook to continue to make sense, for any movement above that supply level could put the bears in a defensive position. Should the market continue its weakness this week, the demand levels at 118.50 and 118.00 would be battered.

EURJPY
Dominant bias: Bearish
Although this currency trading instrument rose by 200 pips last week (from the demand zone at 126.50 to the supply zone at 128.50), the bearish bias is still in place. Only a movement above the supply zone at 129.50 would render the current bearish bias invalid. Any journey below the current demand levels (127.50 and 127.00) would simply enforce the presence of the current bearish bias.

This forecast is concluded with the quote below:

“KISS”, keep it simple, means you start learning what really works for you, what is “true” for you and then translate that information onto the charts.” - Mercedes Oestermann van Essen
 
Weekly Trading Forecasts on Major Pairs (April 27 – May 1, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
Within the first few trading days of the last week, this pair moved in a tight range. On April 23, there was a breakout in favor of the bulls, enabling price to go above the support line at 1.0850. It is possible for the resistance lines at 1.0900 and 1.0950 to the tested. However, there is a good possibility that the pair may become weak again before the end of this week, thus causing price to reach for the support lines at 1.0800 and 1.0750.

USDCHF
Dominant bias: Bearish
Here, the market moved upward on April 22, 2015, owing to the weakness of CHF at that time. In order to confirm this, you can check what happened to all CHF pairs on that very day. The weakness in CHF caused USDCHF to go above the 0.9700, threatening the extant bearish bias. On the following day, CHF eased, and as a result, the pair dropped by 180 pips, closing below the resistance level at 0.9550. This week, the movement on USDCHF would be largely determined by what happens to EURUSD. A drop in the latter could cause a rise in the former.

GBPUSD
Dominant bias: Bullish
This is a bull market – looking at the considerable stamina in GBP. The market went out of balance around the accumulation territory at 1.4900, trending upwards significantly. A movement of 300 pips has brought price to the distribution territory at 1.5200. The distribution territory itself may even be breached to the upside, as price targets another distribution territory at 1.5250. However, it should be noted that GBP may also ease this week, causing the market to start trending downwards. That could happen before the end of this week.

USDJPY
Dominant bias: Bearish
This currency trading instrument has been behaving in a dicey manner, while it remains volatile. Upward and downwards movements are short-term in nature, but the overall bias is bearish. There is a probability that the instrument would continue trending lower, testing the stubborn demand level at 118.50. There is a need for strong selling pressure to breach that demand level to the downside.

EURJPY
Dominant bias: Bullish
Just like EURUSD, this cross first moved in an equilibrium zone for a few days of the last week, before it broke upwards. While there is a possibility of further northward push, this would be limited, for there is a possibility that Yen would become strong, which could halt the present bullish attempts.

This forecast is concluded with the quote below:

“I've changed how I think about money from something I must strive for to knowing that I will have enough by simply making useful decisions. The process of learning to trade is changing from an arduous task to a fun challenge.” - Becky Iannini
 
analyst75 said:
What Super Traders Don’t Want You To Know

“Trading and investing are games of possibility. We know from quantum physics that the universe is a place of infinite possibility. Isn’t it time that you found your own individual self and expressed that in your trading and investing?”

The markets offer riches that can’t be accessed unless you become a trader or an investor. Despite your trading experience, you’re to stand your ground in determination, no matter the challenges and uncertainty in the markets. Refuse to give up or give in to the pressure to quit. Imagine if setting a goal for yourself, you planned to make a certain percentage within a month or a quarter, but you ended up reaching that goal only after six months or one year; don’t feel bad. Instead, say, “I’ll meet the goal sooner next time.” You don’t need to be discouraged simply because you fail to meet a goal for a period of the time.

We believe it’s possible to make profits in the markets, and that can be done consistently on annual basis. What you don’t believe, you don’t get empowered to become. We don’t care what causes the beginning of a long-term bias in a market. What matters is that we profit from the bias, without knowing why the bull and the bear take their positions. Many people make money from long-term biases, and certain people lose; but a determined trader will not quit. If a horse throws off a determined rider, she or he will mount it again.

“Twenty years from now you will be more disappointed by the things you didn’t do than by the ones you did,” said Mark Twain. Poverty has become widespread and it’s bound to continue increasing globally. Think about your loved ones and your future. Think about your children and your financial security when you become old. Do you want your child to be richer than you? Please think about teaching your kid the art of trading, for it doesn’t hurt if your kid becomes the wealthiest person in your family.

Trading is one of the greatest jobs and one of the highest paying jobs in the world, but it’s also one of the most challenging. When the challenges are overcome, honestly, things would become easier than thought. Our breakthrough begins in a new direction, for speculation is a fantastic lifestyle in which our brains help us make money and our self-control helps us remain permanently successful.

WHAT SUPER TRADERS DON’T WANT YOU TO KNOW.

Copyright: Advfnbooks.com

This piece is ended with a quote from Mercedes Oestermann van Essen. The quote at the beginning of the piece is also from her:

“Becoming comfortable with who you are, and learning what motivates you in a positive and expansive way is the first step on the road to lasting trading success and financial freedom.”
Click to expand...

:thumbsup:
Great find! This deserves its own thread!
Cheers,
-P
 
What Is the Right Time to Trade?

“Trading success depends on your system, your relationship with yourself and your relationships with others. Your feelings drive all of these components. When I first started, I thought it was all about the system. How silly and naïve I was in those days.” – Mike Melissinos

What do you think is the answer to the questions that makes the topic above? There’s no general answer, for it depends on your trading style and approaches. Let’s take some examples.

A scalper looks for opportunity to enter the market in the short-term, and when the opportunity presents itself, the scalper enters the market immediately, taking advantage of short-term market movements. Some swing traders or positions traders have various entry criteria for opening and closing positions. Some enter immediately the entry criteria are met, while some would wait for the market to close or the following day before they enter.

Some traders use pending orders to take advantage of certain price actions and once a pending order is filled, trading begins. Some speculators use fundamental events to enter the market as soon as the entry requirements are met and some use fundamental events to project long-term movements.

As you can see, the right time to trade really depends on your trading style and approaches. Once you enter the market by whatever means or criteria you choose, just make sure that you stick to your trade management rules – plus entry and exit rules. Irrational emotions tempt speculators to go against their rules. While it is difficult to control one’s temper while driving on a busy road, some have learned to control their temper while driving. You can control your emotions while trading and therefore, avoid taking actions that you’ll later regret.

This piece is ended with the quote below:

“Trading success comes from developing for yourself a good, well thought-out trading plan. That’s a plan which is based on your personal needs, strengths, interests, and all of that.” - John Forman
 
Weekly Trading Forecasts on Major Pairs (May 4 - 8, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
Last week, this pair moved north by over 420 pips. Price moved above resistance lines at 1.1250 and later fell below it, closing just below the resistance line at 1.12000. While it is not impossible for EURUSD to reach the resistance lines at 1.1300 and 1.1350, the outlook for this week (and this month) is bearish. This means that EURUSD might go further higher, but the risk of the beginning of a downward trend is very high this week.

USDCHF
Dominant bias: Bearish
This currency trading instrument has been under bearish pressure as a result of the strong bullish trend on EURUSD. Price broke through the resistance levels at 0.9400 and 0.9350 last week, testing the support level at 0.9300. This instrument will remain under bearish pressure as long as EURUSD is strong. However, any significant weakness in EURUSD will cause USDCHF to jump seriously upwards, enabling price to go upwards by at least, 200 pips this week.

GBPUSD
Dominant bias: Bullish
GBPUSD moved upwards by 300 pips last week, and later fell by 300 pips. This means that the gains made by the bulls have been forfeited to the bears. Although the extant bias is still bullish, any movement below the accumulation territories at 1.5050 and 1.4950 will result in a clean bearish signal in the market. This week – and this month – the outlook on GBPUSD, including some GBP pairs, is bearish. This is also true of most popular pairs and crosses; save anti-cyclical currencies like USD and JPY.

USDJPY
Dominant bias: Bullish
There is now a bullish signal in this market. The bullish signal started on April 30, 2015, and the price has now crossed above the demand level at 120.00. The supply levels at 120.50 and 130.00 can also be tested, but one thing must be borne in mind; the market might tumble if Yen becomes strong. This is because the outlook on JPY pairs for this week, including this month, is bearish. Welcome to the month of the bears!

EURJPY
Dominant bias: Bullish
This cross moved upwards by over 580 pips last week, due to the strength in Euro. EURJPY is known as one of the fastest moving among popular JPY pairs, hence the strong northward speed. Since the stamina in Euro can be depleted this week or next, EURJPY can begin a smooth journey to the south. Bulls, please take care.

This forecast is concluded with the quote below:

“I go with the flow of markets and manage risk along the way. Markets are like flowing water. It is better to use the flowing power in your favor than it is to work against it.” – Markham Gross
 
Weekly Trading Forecasts on Major Pairs (May 11 - 15, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
This pair made further bullish attempt last week, though the bears are trying hard to frustrate the attempts. The price is now above the support line at 1.1150. There are other support lines at 1.1100 and 1.1050, which should act in support of the current bias. Any movement below these support lines, especially the support line at 1.1050, would result in a beginning of a nice bearish outlook. There is a high probability that this pair may become weak this week or this month.

USDCHF
Dominant bias: Bearish
USDCHF is now trying to rally in the context of a downtrend. Last week, price dived by over 200 pips, slamming into the support level at 0.9100, before rallying by up to 200 pips, closing at 0.9303. Unless there is a significant weakness in the EURUSD, this rally would turn out to be a temporary bullish effort, which may allow sellers to go short when the price is higher in the context of a downtrend. USD/CHF would remain under selling pressure as long as EURUSD is strong. Without a movement above the resistance level at 0.9500, this would remain a truly bearish market.

GBPUSD
Dominant bias: Bullish
Last week, Cable consolidated from Monday to Wednesday, but it broke upwards in favor of the bulls on Thursday. Price moved from the accumulation territory at 1.5200 to the distribution territory at 1.5500. This is a movement of at least, 300 pips, owing to optimism and positive sentiments behind GBP. Nevertheless, the outlook on this market is bearish for this month: a bearish movement can start this week or this month.

USDJPY
Dominant bias: Bullish
One thing must be noted, this currency trading instrument is currently great only for scalpers and intraday traders. It is not currently great for swing and position traders, for the upswings and downswings in the market are short-term and erratic. The overall bias is, however, bullish and this may hold until Yen becomes seriously strong.

EURJPY
Dominant bias: Bullish
The fate of this cross is being determined by the strength of Euro. Should Euro become weak, the cross would plummet. Should Euro become strong, the cross would rally. There is a Bullish Confirmation Pattern in this market, which would be violated once the cross drops below the demand zone at 132.00.

This forecast is concluded with the quote below:


“In order to consistently make money in the markets, traders need to learn how to identify an underlying trend and trade around it accordingly.” - Joey Fundora
 
Weekly Trading Forecasts on Major Pairs (May 18 - 22, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
Against all odds and contrary expectations, EURUSD went further upwards last week. From around the support line at 1.1150, price went upwards towards the resistance line 1.1450 (a movement of at least, 300 pips). The next targets for the bulls are located at the resistance lines at 1.1500 and 1.1550. In the meantime, any bearish corrections in the market would be taken as opportunities to buy long when things are on sale and in the context of an uptrend.

USDCHF
Dominant bias: Bearish
The existing bearish bias, owing to the weakness of USD, and further expectation of considerable stamina in CHF this week, would help keep USDCHF under selling pressure. The support level at 0.9100 was tested last week: it could be tested and breached to the downside this week, as price targets further support lines at 0.9050 and 0.9000. The possible strength in CHF would also have impact on other CHF pairs.

GBPUSD
Dominant bias: Bullish
Cable continues to meander its way upwards, as positive sentiment and optimism behind the currency keeps on having bullish effects. This week, certain fundamental figures emanating from the UK would have a noteworthy impact on the Cable (plus other GBP pairs as well). Should the bullish outlook continue to hold out, the distribution territories at 1.5800 and 1.5900 would be attained this week. Please note the distribution territory at 1.5800 was tried last week.

USDJPY
Dominant bias: Bearish
This is currently not a market in which buyer should hold onto their long positions for too long. In fact, the market is only great for intraday traders and scalpers, as it was mentioned last week. Upswings and downswings would continue to be transitory as price oscillates between the demand level at 118.50 and the supply level at 120.50. A break below that demand level or above that supply level could result in a strong directional movement.

EURJPY
Dominant bias: Bullish
The Bullish Confirmation Pattern on this cross shall continue to exist as long as there is strength in EUR. This week, the direction on the EURJPY cross would be determined largely by what happens to EUR, and therefore the supply zones at 137.00 and 138.00 are being targeted by the bulls. On the other hands, the demand zones at 135.00 and 134.00 are being watched, for they should try to obstruct the efforts of the bears.

This forecast is concluded with the quote below:


“One of the many terrific things about being a profitable (self-employed!) trader is the fact that you can do what you want with your time… Successful traders are technically their own boss.” - Rick Wright
 
Weekly Trading Forecasts on Major Pairs (May 25 - 29, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This pair dropped by 430 pips last week, leading to a Bearish Confirmation Pattern in the chart.
The price has already tested the support line at 1.1000, and it could test it once again, possibly breaking it to the downside. The support lines at 1.0900 and 1.0850 are the probable targets for this week, especially with the continuation of the current bearish bias.

USDCHF
Dominant bias: Bullish
The strength in the USD has enabled this pair to go upwards from the support level at 0.9150, reaching the resistance level at 0.9450. This is a movement of about 300 pips and there is a possibility that price would continue its upwards journey, on the condition that CHF does not become strong enough to make this difficult. Strength in CHF has been expected since last week, and it is something that could happen this week, affecting other CHF pairs as well.

GBPUSD
Dominant bias: Bullish
The current price action on Cable is a threat to the recent bullish trend. In fact, as soon as the accumulation territory at 1.5400 is breached to the downside, the recent bullish trend would be render completely useless. Further weakness may cause price to test the accumulation territories at 1.5350 and 1.5300. However, this does that mean that bulls would not make attempts to push price towards the distribution territories at 1.5600 and 1.5650.

USDJPY
Dominant bias: Bullish
USDJPY broke upwards significantly – an event that was long anticipated during the recent protracted consolidation phase in the market. A break above the demand level at 120.50 shows that the consolidation phase is over, and from there, price moved further north, testing the supply level at 121.50 (even breaching it to the upside). More bullish movement is probable this week, and the bullish bias would be valid as long as the demand level at 120.50 is not broken to the downside.

EURJPY
Dominant bias: Bearish
The movement of this cross is now largely determined by whatever happens to Euro; hence the present weakness of the cross. Price dropped by over 250 pips last week, in spite of some sideways movement along the way. The cross has closed below the supply zone at 134.00, and the next target could be the demand zone at 133.00.

This forecast is concluded with the quote below:


“Michael [Marcus] taught me one thing that was incredibly important... He taught me that you could make a million dollars. He showed me that if you applied yourself, great things could happen. It is very easy to miss the point that you really can do it.” - Bruce Kovner (a billionaire trading veteran)
 
Weekly Trading Forecasts on Major Pairs (June 1 - 5, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
EURUSD dropped below the support line at 1.0850 last week, but it could not stay below that line. From there, price rallied by over 150 pips, testing the resistance line at 1.1000. The overall bias remains bearish and it would be so, unless price is able to breach the resistance lines at 1.1100 and 1.1200 to the upside; a feat that would not be easy for bulls to achieve because the current bearish outlook may last longer than imagined. Without the aforementioned resistance lines being breached to the upside, any upwards bounces (like the current one) would be taken as short-selling opportunities.

USDCHF
Dominant bias: Bullish
This pair first went upwards last week, moving above the resistance level at 0.9500. However, as it was mentioned last time in May 25 – 29 forecasts, CHF gained considerable stamina and this halted further upwards movement on USDCHF. This is what is partly responsible for the visible bearish correction in this market. The stamina in CHF can also be seen on other CHF pairs(for example, check GBPCHF, CHFJPY, NZDCHF etc.). Though bulls forfeited the gains they made last week, the overall outlook is still bullish. The bullish outlook would be rendered useless as soon as the support level at 0.9300 is breached to the downside, and the possibility of this happening is strong, especially if CHF maintains its current stamina.

GBPUSD
Dominant bias: Bearish
This is a weak market: price went downwards by 200 pips last week. It is currently illogical to seek long positions here until price actions justify that. It is possible that Cable will rally in the month of June, but until then, the current bias is bearish.

USDJPY
Dominant bias: Bullish
Since May 18, 2015, this currency trading instrument has moved upwards by 450 pips. This has caused a clean Bullish Confirmation Pattern in the market, and thus, further upwards movement is possible, largely as Yen continues to be weak. On Friday, May 29, 2015, price closed above the demand level at 124.00. The possible targets for this week are situated at the supply levels of 124.50 and 125.50.

EURJPY
Dominant bias: Bullish
This interesting cross has assumed a strong northwards push, moving north from around the demand zone at 133.00 and going near the supply zone at 136.50. More northwards movement is expected this week, which could cause bulls to gain another 200 pips. Generally, the outlook on JPY pairs is bullish for the month of June 2015, though there might be a few exceptions.

This forecast is concluded with the quote below:

“There are abundant opportunities to make a profit in the markets, but you need to work hard and diligently to find them. It can be done. There are many traders who make profits day after day. The decision you have to make, however, is whether you want to sit on the sidelines and say, "It couldn't be done," or jump in, resolute and confident, and work tirelessly until you achieve enduring financial success.” – Joe Ross
 
Weekly Trading Forecasts on Major Pairs (June 8 - 12, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
The popular Non-Farm Employment Change and other employment figures coming out of the US and Canada caused significant impact on the markets on June 5, 2015. The figures had positive effects on USD and CAD and therefore, other USD pairs and CAD pairs were seriously affected in the near-term (please see what happened to USD and CAD pairs). The effect on EURUSD was negative, which was trying to make some bullish attempt last week. There is a bullish outlook on this market unless the support line at 1.1000 is breached to the downside. The effect of the US employment figures has given potential buyers an opportunity to enter the market at better prices, because there could be an upwards bounce. However, a movement below the aforementioned support line could be a beginning of another bearish run.

USDCHF
Dominant bias: Bearish
The economic figures released on Friday had a positive impact on this pair, but the bearish outlook is still in place. The bearish outlook is now precarious, as price threatens to break the resistance level at 0.9500 to the upside. Should price succeed in doing this, it would close above the resistance level and that could lead to a ‘buy’ signal. A movement below the support level at 0.9300 would result in reinforcement of the existing bearish bias.

GBPUSD
Dominant bias: Bearish
This is a bear market. Last week, bulls made praiseworthy attempt to push price upwards and the price moved above the distribution territory at 1.5400, trying to go towards the distribution territory at 1.5450. But the bullish energy is far outstripped by the selling pressure, which made the bulls to forfeit their gains in the last week. There is a need for Cable to move above the distribution territory at 1.5450 before long trades can make any sense here.

USDJPY
Dominant bias: Bullish
This currency trading instrument has moved upwards over by 600 pips since the middle of May 2015. Last week, price first moved sideways as bears began to challenge bull’s supremacy, but the fundamental figures that came on Friday were a final blow that broke the bears’ obstinacy. This trading instrument could thus continue trending upwards as long as Yen is weak.

EURJPY
Dominant bias: Bullish
EURJPY cross moved upward very strongly last week. A weekly movement of 500 pips is something that is significant enough to maintain a Clean Bullish Confirmation Pattern in the market. Obviously, traders are more benefitted by strong movements when compared to weak movements. The supply zone at 141.00 has been tested. It could be tested again and breached to the upside. Even if this cross would experience some bearish correction later this week or next week, there could be some initial northward attempt.

This forecast is concluded with the quote below:

“If you diversify, control your risk, and go with the trend, it just has to work.” - Larry Hite
 
Weekly Trading Forecasts on Major Pairs (June 15 - 19, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
This pair is still in a bullish mode in spite of the effort of bears to pull price down. There are support lines at 1.1100 and 1.1050 and a downside breach of the support lines would result in a new bearish outlook. There are also resistance lines at 1.1400 and 1.1450: an upside breach of those resistance lines would result in further confirmation of the existing bullish mode. However, even if the market moves further upwards, it is more likely that it would become weak by the end of this week or before the end of this month.

USDCHF
Dominant bias: Bearish
On USDCHF, last week was characterized by desperate struggles between the bull and the bear. The bear is still strong enough to check the bull from realizing his objectives and as such, the bias on the market remains bearish. A movement below the support level at 0.9250 would result in a stronger bearish propensity, especially when price closes below the support level and moves further south towards another support level at 0.9200. This is because price could not close below the support level at 0.9250 last week, and a movement below it would mean that the bear is stronger. However, any significant weakness in EURUSD, which may happen before the end of this month, would cause USDCHF to rally seriously.

GBPUSD
Dominant bias: Bullish
Cable rallied by 300 pips last week, rising from the accumulation territory at 1.5250 and closing above the accumulation territory at 1.5550. Further upward movement is possible, enabling price to reach the distribution territory at 1.5700. However, a strong bearish trend is anticipated on Cable (and other GBP pairs) before the end this week or this month. This bearish trend might also be in force in most of July 2015.

USDJPY
Dominant bias: Bearish
This currency trading instrument has already gone bearish – though the bulls are fighting a losing battle to reverse the trend. Price tested the demand level at 122.50, and then bounced upwards. Though a movement above the supply level at 125.00 could challenge that new bearish signal, the upward bounce could also bring an opportunity to sell short at a better price. In case of further southward movement, price could breach the demand levels at 122.50 and 121.50 to the downside.

EURJPY
Dominant bias: Bullish
On Friday, June 12, 2015, this cross closed at 139.00. The outlook on the market is currently bullish, though threatened. Price needs to move upwards in order to save the bullish outlook. A breach of the demand zone at 138.00 could result in a Bearish Confirmation Pattern, and as such, price should not go below that demand zone; otherwise the recent bullish outlook would be rendered invalid. This cross, plus other JPY pairs, has a high probability of becoming weak by the end of this month and in most of July 2015.

This forecast is concluded with the quote below:

“…The only truth is the chart. Don't ever listen to the news without looking hard and long at the chart. The chart is the truth. Nothing else is the truth.” – Scott Brown
 
Weekly Trading Forecasts on Major Pairs (June 22 - 26, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
EURUSD first consolidated last week; then it broke upwards, closing above the support line at 1.1300. The bias is still bullish and price could test the resistance lines at 1.1450 and 1.1500. Failure to do this could lead to a drop in the price, and therefore, the condition of USD would be the greatest determinant of the movement of EURUSD for the rest of this month. Only a significant weakness in USD may help EURUSD maintain its current bullish bias.

USDCHF
Dominant bias: Bearish
This pair was able to break below the resistance level at 0.9250 (which bears could not breach in the first two weeks of June 2015). Since then, price has moved below another resistance level at 0.9200. The support level at 0.9150 was tested last week and it could be tested again, especially with more selling pressure in the market. That support level could even be breached to the downside.

GBPUSD
Dominant bias: Bullish
GBP is really strong, and the evidence can be seen on most GBP pairs. Cable moved upwards by 350 pips last week, and it has moved upwards by 650 pips this month. The distribution territory at 1.5900 is currently being besieged and it might end up being slashed by bulls. Another possible target is the distribution territory at 1.5950. However, Cable must now be approached with caution because it is possible that the pair would become weak before the end of this week or this month.

USDJPY
Dominant bias: Bearish
This market first moved sideways last week. On June 17, there was a false bullish breakout, which made the market go upwards by 100 pips before bears came in to force it lower. The market is now close to the demand level at 122.50, which may be breached to the downside anytime. It should be borne in mind that this market is expected to trend lower and lower in the month of July 2015: hence any rallies in the short-term could well bring short-selling opportunities.

EURJPY
Dominant bias: Bullish
This cross did not make any large movement last week, though the outlook remains bullish. The bullish outlook itself is not very strong. So, any movement below the demand zone at 138.00 would mean the end of the bullish outlook, leading to a Bearish Confirmation Pattern in the market. This is a condition that would signify the bearish power on the cross.

This forecast is concluded with the quote below:

“My opinion is that traders who have long been around and keep learning, will establish themselves automatically.” – Dr. Brett N. Steenbarger
 
Weekly Trading Forecasts on Major Pairs (June 29 – July 3, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
Because of the events in the Eurozone, EUR pairs might open with gaps this week and in case the gaps happen, they would harbinger great volatility in the markets for the rest of the week. EURUSD trended downwards in the beginning of last week, and later moved sideways till the end of the week. The bias is bearish and a bearish breakout is possible at the end of the current sideways movement. The possible breakout would happen when the support line at 1.1150 is broken to the downside as price goes further downwards to other support lines at 1.1050 and 1.1000. A movement above the resistance line at 1.1300 would render this expectation invalid.

USDCHF
Dominant bias: Bullish
This pair trended upwards in the beginning of last week, and later moved sideways till the end of the week. The bias is bullish and a bullish breakout is possible at the end of the current sideways movement. This week, the sanguine bulls would try to keep price moving upwards, and so, the possible breakout would happen when the resistance level at 0.9400 is broken to the upside as price goes further upwards to other resistance levels at 0.9450 and 0.9500. On the other hand, a movement below the resistance line at 0.9200 would render this stated possibility illogical.

GBPUSD
Dominant bias: Bullish
Cable came down by roughly 200 pips last week – a threat to the extant bullish bias. Price then moved in an equilibrium phase till the close of the market on Friday, June 26, 2015. There is now a very high probability that this market (and most other GBP pairs) would become seriously weak, starting from this week and in the first half of July 2015. The current bullish bias would be valid only as long as price is above the accumulation territory at 1.5650.

USDJPY
Dominant bias: Neutral
This trading instrument is currently consolidating. Price is generally moving/oscillating between the supply level at 124.50 and the demand level at 122.50. It would normally be expected that price would eventually break above the aforementioned supply level or demand level, paving way for a sustained trending move. A strong southward movement is highly possible in the month of July 2015.

EURJPY
Dominant bias: Bearish
Just like EURUSD, this cross first trended downwards last week before moving sideways. Whatever happens to Euro (such as gaps, strong movement), would have similar impact on this cross. There is a Bearish Confirmation Pattern in the market and a strong bearish trend is probable in July.

This forecast is concluded with the quote below:

“When you trade from a carefree state of mind, everything about your trading changes. Remember, that the primary skill that we are talking about here is simply trading without fear. This is a trading skill. It is the primary trading skill that you will have to acquire to create consistency – to trade without fear.” – Mark Douglas
 
Weekly Trading Forecasts on Major Pairs (July 6 - 10, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
Current events in the Eurozone will continue to shape the movement of EURUSD and other EUR pairs this week. Last week, price opened with a gap-down of about 200 pips before an upward bounce of over 300 pips occurred on Monday. On Tuesday, price began to go south and tested the support line at 1.1050 on Wednesday. After that, price consolidated till the end of the week. This week, EURUSD and other EUR pairs could open with gaps, and of course, the gaps would be followed by strong movements in case they occur. The outlook on EURUS D is bearish: unless the resistance line at 1.1250 is overcome, further southward movement is expected.

USDCHF
Dominant bias: Bullish
This currency trading instrument traded downwards on Monday, reaching the support level at 0.9250. Form that level, price went north by 250 pips, testing the resistance level at 0.9500. Once the resistance level was tested, a bearish correction took price lower by another 100 pips. Last week, price closed around the support level a 0.9400, but it is likely that price would rally again. The bias is bullish as long as the support level at 0.9250 is not breached to the downside.

GBPUSD
Dominant bias: Bearish
Following the recent sideways movement, Cable broke out to the downside, going below the distribution territory at 1.5600. The accumulation territory at 1.5500 is an easy target for bears, for there is a clean Bearish Confirmation Pattern in the market right now. Should price go further southward, another accumulation territory at 1.5400 would be attained. However, this does not rule out the possibility of rally attempts.

USDJPY
Dominant bias: Neutral
There is not yet any significant movement on USDJPY, as price only oscillates between the supply level at 124.00 and the demand level at 122.00. The present market condition is thus great for scalpers and intraday traders, but not for swing and position traders. Eventually price would either break out above the supply level at 124.00 or below the demand level at 122.00, after which there would be a significant movement. It should be noted that the most probable direction for July 2015 is bearish. This is also true of most other JPY pairs.

EURJPY
Dominant bias: Bearish
At the open of the market last week, this cross experienced a gap-down of about 400 pips as it slammed into the demand level at 134.00. Immediately after this, price rose sharply by over 400 pips, testing the supply zone at 138.00. Price then got caught in an equilibrium phase for the rest of the week. This week, the conditions of the Eurozone will also determine what happens on this cross, because whatever happens to EUR/USD will cause almost identical movement on this cross. A southward movement is most likely.

This forecast is concluded with the quote below:

“Give the market time to develop once you have defined your stops and profit targets. You cannot control the market anyway. It is certainly no coincidence that we have had reports from many traders telling us that they have not only achieved better results with simple no-frills trading, but have also felt better.” – Marko Graenitz
 
Weekly Trading Forecasts on Major Pairs (July 13 - 17, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This pair trended downwards in the first few days of last week, challenging the support line at 1.0950. From that support line, price went upwards by 250 pips, reaching the resistance line at 1.1200. The upward movement has been a threat to the existing bearish outlook and a movement above the resistance line at 1.1250 would result in a Bullish Confirmation Pattern in the market. This week, further weakness in USD may enable this pair to trend further upwards.

USDCHF
Dominant bias: Bullish
Though the bias on USD/CHF is bullish, bulls were unable to take price above the resistance level at 0.9500. That resistance level was tested several times but it could not be broken to the upside, which made the market experience some bearish correction. Price closed below the resistance level at 0.9400 and further bearish correction could invalidate the extant bullish bias. Things would now be difficult for bulls because it is expected that USD would be weak this week, plus CHF may gain a lot of stamina by the end of this month.

GBPUSD
Dominant bias: Bearish
There is now trending movement on Cable, which dived by 250 pips last week. Price tested the accumulation territory at 1.5350, and then rallied by over 160 pips, closing above the accumulation territory at 1.5500. It is clear that a measure of volatility is now in this market, for it was in an equilibrium phase a few weeks ago. Certain other majors were also in equilibrium phases in some past weeks/months. This week, Cable might continue to make northward attempts, in case bears fail to push price below the accumulation territory at 1.5450.

USDJPY
Dominant bias: Neutral
This trading instrument, which once vacillated between the demand level at 122.00 and the supply level at 124.50, trended strongly last week. Price went seriously south, testing the demand level at 120.50, and after that, price rose by over 230 pips, closing above the demand level at 122.50. The bias could have gone bearish, but the subsequent rise in price has neutralized that. Further northward journey may be deceptive here, for there is still a high possibility that this trading instrument would become weak again this week or before the end of this month. JPY may become very strong by the end of the month and this would send most JPY pairs tumbling.

EURJPY
Dominant bias: Bearish
Last week, EUR/JPY was unable to go below the demand zone at 133.50, in spite of commendable effort of bears. Price went out of balance around that demand zone and it rallied significantly by 350 pips, closing around the supply zone at 137.00. This strong rally has put the recent bearish bias in jeopardy – a further northward movement of 100 - 150 pips would simply result in a confirmed bullish bias. As a result of the ongoing events in the Eurozone, this cross and other JPY pairs might open with gaps this week (and of course with other EUR pairs).

This forecast is concluded with the quote below:

“Money is made as a by-product of following a sound trading plan.” – Louise Bedford
 
Weekly Trading Forecasts on Major Pairs (July 20 - 24, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
EURUSD dropped by 280 pips last week, going below the resistance lines at 1.0950 and 1.0900. The resistance line at 1.0900 (and of course the resistance line at 1.0900) was an adamant obstacle to bears’ interest. Now that the obstacle has been overcome, the next targets for the bears are the support lines at 1.0800 and 1.0750. The aforementioned resistance lines should server as obstacles to bullish attempts this week, for their breach would mean a threat to the current bearish outlook.

USDCHF
Dominant bias: Bullish
This pair went north by over 200 pips last week, going above the support levels at 0.9500, 0.9550 and 0.9600. The support level at 0.9500 (which was formerly a resistance level) really proved obstinate for the bulls because it opposed bullish effort for over 2 weeks while the bulls kept on besieging it. Once the opposition was overcome, price was able to rally smoothly. Since price has closed above the support level at 0.9600, it is possible that the resistance levels at 0.9650 and 0.9700 will be aimed at. This bullish bias might go on till the end of the month, but things could change in the wake of a strong stamina in CHF, which is expected by the end of the month.

GBPUSD
Dominant bias: Bullish
Cable rose significantly last week, battering the distribution wall at 1.5650. Bears have been fighting back at that distribution wall, making it hitherto impossible for bulls to breach it. Nevertheless, the bulls have continued to struggle for supremacy, and that is the reason behind the current consolidation in the market. Price shall go out of balance this week, and it is most probable that the bulls would overcome.

USDJPY
Dominant bias: Bullish
Since testing the demand level at 120.50, this currency trading instrument has gone upwards by 350 pips. The persistent bullish movement has put an end to the recent neutral outlook in the market – for the outlook is now bullish. However, price needs to go towards the supply level at 124.50 and break upwards through it; otherwise there could be a massive bearish correction this week or next week.

EURJPY
Dominant bias: Bearish
This cross would continue to go south as EURUSD keeps going south. The only hope of a meaningful rally here is an event in which the Euro becomes very strong; otherwise price would continue to drop further and further (whether speedily and gradually). This bearish force is formidable here, coupled with the expectation of a massive gain in the Yen itself around the end of this month.

This forecast is concluded with the quote below:

“What makes trading so fascinating and, at the same time, difficult to learn is that you really don’t need lots of skills; you just need a winning attitude.” – Mark Douglas
 
Weekly Trading Forecasts on Major Pairs (July 27 - 31, 2015)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
Although the dominant bias is bearish, this pair made some commendable bullish attempts last week. Price moved upwards by almost 200 pips, testing the resistance line at 1.1000. That resistance line is an important price area, since it must be broken to the upside for the current bullish effort to continue. Should that occur, a subsequent break of the resistance lines at 1.1050 and 1.1100 would result in a clean bullish bias. On the other hand, any failure of price to break the resistance line at 1.1000 to the upside could result in a serious bearish movement.

USDCHF
Dominant bias: Bullish
Last week, USDCHF was able to maintain its bullish stance in spite of the fact that EURUSD was also making bullish effort. This is one of rare occasions in which EURUSD and USDCHF would be going in the same direction in the short-term. However, things will soon go out of balance and the pairs would go their separate ways. USDCHF might go further upwards, but this would be challenged by the resistance levels at 0.9650 and 0.9700. In fact, it is highly probable that CHF may gain serious stamina before the end of this month (this would also affect other CHF pairs), and thus cause USDCHF to fall smoothly.

GBPUSD
Dominant bias: Bearish
This mercurial currency trading instrument experienced a southwards movement last week. There is a bearish signal in the market: which would be valid as long as the distribution territories at 1.5650 and 1.5700 are not breached to the upside. In case those distribution territories are overcome, the current bearish signal would be rendered illogical.

USDJPY
Dominant bias: Bullish
This market traded sideways last week, though the bullish trend on it is not yet over. Should the market move sideways again throughout this week, it would enter a neutral territory. Nevertheless, price could soon go out of balance, resulting in a serious trending move. Yen can become very strong before the end of this month – causing other JPY pairs to tumble – and it can also cause USDJPY to go bearish.

EURJPY
Dominant bias: Bullish
From the demand zone at 134.50, this cross moved upwards by over 150 pips, slamming into the supply zone at 136.00. This has caused a Bullish Confirmation Pattern in the market, but it is a confirmation pattern that might be short-lived, since Yen can become very strong before the end of the month, causing bears to dominant the market.

This forecast is concluded with the quote below:

“… No system or set of trades is either winning or losing, they are only so with respect to the position sizing (or money management) that was applied… We have every tool we can long for to control risk while adding to our winners.” - Dirk Vandycke
 
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