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Jeronimo
Guest
And what does all this bias nonsense crap do for tradin? Not sure what your copy paste bulshit is supose to acomplish but please stop. It's all just nonsense...analyst75 said:
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Weekly Trading Forecasts on Major Pairs
- Thread starter analyst75
- Start date
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Jeronimo
Guest
OK OK Shopy, i give up... Now put up or shut the fuck up. period... or should i say pipy or ...garry said:
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Jeronimo
Guest
Lol, seen and read alllll of their posts.. Not impressed. Thought maby garry/Shopy might be a challange, but, yet again disapointed... Anything else Pipy?garry said:
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Jeronimo
Guest
Oh Garry, off to bed, will be back to reply to the rest of your stupidities tomorow, or not. Will
see....
Forgot to add:
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see....
Forgot to add:
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Weekly Trading Forecasts on Major Pairs (December 14 - 18, 2015)
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bullish
EURUSD has been able to maintain the bullish breakout it performed on December 3, 2015. Last week, price moved further upwards by 170 pips, closing above the support line at 1.0950. There are resistance lines at 1.1000 and 1.1050, which could be tested as the bullish journey continues. However, there is a strong possibility that EURUSD would experience a vivid pullback this week or next week.
USDCHF
Dominant bias: Bearish
Since November 30, 2015, this pair has trended downwards by almost 500 pips. The bias is bearish, and it would be difficult for the pair to trend seriously upwards now (in spite of the fact that USD could be strengthened against some other currencies), due to the stamina in the Euro and the possibility of the Swiss Franc amassing strength. The support levels at 0.9800 and 0.9750 stand chances of being tested. The support level at 0.9800 was almost tested last week.
GBPUSD
Dominant bias: Bullish
This currency trading instrument first trended lower on Monday and Tuesday – only for further bearish movement to be rejected as price assumed a smooth rally. Since Tuesday, price has gone upwards by 250 pips, leading to a Bullish Confirmation Pattern in the market. The possibility of further bullish movement is not downplayed, but it should be remembered that the expectation on GBP pairs remains bearish for the month of December, thus long positions on GBPUSD should be handled with caution. There could be a large pullback before the end of this month.
USDJPY
Dominant bias: Bearish
The bears were able to push USDJPY lower last week, ending the recent neutral bias on the market. Price fell by 250 pips, closing just below the supply level at 121.00. This price action has brought about a “sell” signal in the market, but the odd against the signal is the bullish expectation on JPY pairs, which could still happen anytime this month. Until there is a rally owing to the bullish expectation on JPY pairs, the “sell” signal currently in the market ought to be respected.
EURJPY
Dominant bias: Bullish
EURJPY consolidated last week, and later went downwards. The downward movement was shallow; all in the context of an uptrend. The consolidation and shallow bearish movement were considerable enough to pose a threat to the extant bullish bias. A movement of 200 pips to the downside might be the end of the bullish bias, although there is a hope for further bullish journey, and that is when JPY loses strengths significantly.
This forecast is concluded with the quote below:
“Although the price charts look the same today as they did long ago, the trade management needed constant adaptation. The markets are alive and forever changing.” – Joe Ross
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bullish
EURUSD has been able to maintain the bullish breakout it performed on December 3, 2015. Last week, price moved further upwards by 170 pips, closing above the support line at 1.0950. There are resistance lines at 1.1000 and 1.1050, which could be tested as the bullish journey continues. However, there is a strong possibility that EURUSD would experience a vivid pullback this week or next week.
USDCHF
Dominant bias: Bearish
Since November 30, 2015, this pair has trended downwards by almost 500 pips. The bias is bearish, and it would be difficult for the pair to trend seriously upwards now (in spite of the fact that USD could be strengthened against some other currencies), due to the stamina in the Euro and the possibility of the Swiss Franc amassing strength. The support levels at 0.9800 and 0.9750 stand chances of being tested. The support level at 0.9800 was almost tested last week.
GBPUSD
Dominant bias: Bullish
This currency trading instrument first trended lower on Monday and Tuesday – only for further bearish movement to be rejected as price assumed a smooth rally. Since Tuesday, price has gone upwards by 250 pips, leading to a Bullish Confirmation Pattern in the market. The possibility of further bullish movement is not downplayed, but it should be remembered that the expectation on GBP pairs remains bearish for the month of December, thus long positions on GBPUSD should be handled with caution. There could be a large pullback before the end of this month.
USDJPY
Dominant bias: Bearish
The bears were able to push USDJPY lower last week, ending the recent neutral bias on the market. Price fell by 250 pips, closing just below the supply level at 121.00. This price action has brought about a “sell” signal in the market, but the odd against the signal is the bullish expectation on JPY pairs, which could still happen anytime this month. Until there is a rally owing to the bullish expectation on JPY pairs, the “sell” signal currently in the market ought to be respected.
EURJPY
Dominant bias: Bullish
EURJPY consolidated last week, and later went downwards. The downward movement was shallow; all in the context of an uptrend. The consolidation and shallow bearish movement were considerable enough to pose a threat to the extant bullish bias. A movement of 200 pips to the downside might be the end of the bullish bias, although there is a hope for further bullish journey, and that is when JPY loses strengths significantly.
This forecast is concluded with the quote below:
“Although the price charts look the same today as they did long ago, the trade management needed constant adaptation. The markets are alive and forever changing.” – Joe Ross
Weekly Trading Forecasts on Major Pairs (December 21 - 25, 2015)
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bullish
Although the dominant bias on this pair is bullish, the bias is seriously threatened. After testing the resistance line at 1.1050, the price went down by roughly 250 pips, almost reaching the support line at 1.0800. Based on the bearish expectation on EUR (and EUR pairs) for the rest of this month, it is likely that EURUSD would go further south by 100 pips this week. In case this happens, the bias on the pair would turn bearish.
USDCHF
Dominant bias: Bearish
After bottoming at the support level of 0.9800, the USD/CHF has been making a noticeable bullish attempts in the context of a downtrend. The price reached the resistance level at 0.9950 on Thursday, and then consolidated till the end of the week. At this junction the direction of the USD/CHF would be determined by what happens to EUR. There would be mixed signals on all USD pairs, for the US dollars would be weak against some currencies as well as strong against some currencies.
GBPUSD
Dominant bias: Bearish
What happened on Cable last week has resulted in a “sell’’ signal, in solidarity with our bearish expectation on GBP pairs. Cable went south by 300 pips to test the accumulation territory at 1.4900. This has resulted in a Bearish Confirmation Pattern in the market, and it is likely that the southward movement would continue for the rest of this month. Therefore, any rallies that are seen should be approached as short-selling opportunities.
USDJPY
Dominant bias: Bearish
This volatile currency trading instrument swung wildly last week. Price tested the demand level at 120.50, and then rose sharply to reach the supply level at 123.50 (a movement of 300 pips). After the supply level was tested, price fell by 200 pips on Friday, due to the fundamental events affecting the Yen, which gave strength to the Yen. The current bias on USD/JPY is bearish, and this should be respected as it long as it lasts.
EURJPY
Dominant bias: Bearish
This market traded sideways from Monday till Thursday; and experienced a bearish breakout on Friday. The weakness in the market, coupled with its inability to trend higher, has made the outlook on the market become bearish. As EUR is weakened further, EUR/JPY might trend further south. There is a need for a serious weakening in the Yen before this bearish movement can be reversed.
This forecast is concluded with the quote below:
“Quality of trades matter, but a trading career does not depend on one trade, it is rather the sum of all trades. Acknowledging that a few losing trades cannot hurt me released me from anxious trading.” - Christiaan van der Meer
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bullish
Although the dominant bias on this pair is bullish, the bias is seriously threatened. After testing the resistance line at 1.1050, the price went down by roughly 250 pips, almost reaching the support line at 1.0800. Based on the bearish expectation on EUR (and EUR pairs) for the rest of this month, it is likely that EURUSD would go further south by 100 pips this week. In case this happens, the bias on the pair would turn bearish.
USDCHF
Dominant bias: Bearish
After bottoming at the support level of 0.9800, the USD/CHF has been making a noticeable bullish attempts in the context of a downtrend. The price reached the resistance level at 0.9950 on Thursday, and then consolidated till the end of the week. At this junction the direction of the USD/CHF would be determined by what happens to EUR. There would be mixed signals on all USD pairs, for the US dollars would be weak against some currencies as well as strong against some currencies.
GBPUSD
Dominant bias: Bearish
What happened on Cable last week has resulted in a “sell’’ signal, in solidarity with our bearish expectation on GBP pairs. Cable went south by 300 pips to test the accumulation territory at 1.4900. This has resulted in a Bearish Confirmation Pattern in the market, and it is likely that the southward movement would continue for the rest of this month. Therefore, any rallies that are seen should be approached as short-selling opportunities.
USDJPY
Dominant bias: Bearish
This volatile currency trading instrument swung wildly last week. Price tested the demand level at 120.50, and then rose sharply to reach the supply level at 123.50 (a movement of 300 pips). After the supply level was tested, price fell by 200 pips on Friday, due to the fundamental events affecting the Yen, which gave strength to the Yen. The current bias on USD/JPY is bearish, and this should be respected as it long as it lasts.
EURJPY
Dominant bias: Bearish
This market traded sideways from Monday till Thursday; and experienced a bearish breakout on Friday. The weakness in the market, coupled with its inability to trend higher, has made the outlook on the market become bearish. As EUR is weakened further, EUR/JPY might trend further south. There is a need for a serious weakening in the Yen before this bearish movement can be reversed.
This forecast is concluded with the quote below:
“Quality of trades matter, but a trading career does not depend on one trade, it is rather the sum of all trades. Acknowledging that a few losing trades cannot hurt me released me from anxious trading.” - Christiaan van der Meer
Weekly Trading Forecasts on Major Pairs (December 28 - 31, 2015)
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bullish
EURUSD moved upwards 100 pips last week, still showing determination to go further upwards. The market would experience some equilibrium movement this week, owing to thin activities in the markets, but possibilities of surprise movements cannot be ruled out (especially on some other EUR pairs like EURAUD, EURNZD, etc.). Bulls might target the resistance lines at 1.1000 and 1.1050 this week.
USDCHF
Dominant bias: Bearish
This pair did not make any significant movement last week, and it is more likely that the sideways movement would continue this week; which could make the bias on the market turn neutral. There are support levels at 0.9850 and 0.9800. On the other hand, there are resistance levels at 0.9950 and 1.0000. It is expected that the price would oscillate between these support and resistance levels for the rest of this year – breaking them to the upside or to the downside within the first week of January 2016.
GBPUSD
Dominant bias: Bearish
From Monday to Tuesday, Cable dropped by 100 pips, to rise by 110 pips from Wednesday and Thursday. The current price action in the market could be rightly called a rally in the context of a downtrend, because the bearish outlook cannot be invalidated as long as price is under the distribution territory 1.5050. A very strong bearish movement would likely resume on GBP pairs on the first week of January 2016.
USDJPY
Dominant bias: Bearish
This currency trading instrument performed a steady southwards movement last week. From just under the supply level at 121.50, price was able to move below the supply level at 120.50, to close at 120.27. There is a strong Bearish Confirmation Pattern in the market, which would enable this currency instrument to dive further by 100 pips this week or next week. At the present, long trades do not make much sense in this market.
EURJPY
Dominant bias: Bearish
This cross moved upwards 100 pips in the first few days of last week, before it went down by 100 pips, reaching the demand zone at 131.50. This action supported the extant bearish bias on the market. At this juncture, the movement of this cross would be dictated by the events surrounding the Euro, which means that we might see a rally in case the Euro is strengthened further.
This forecast is concluded with the quote below:
“Money is perpetual in the markets and the objective is to keep as much as you can when it passes through your hands.” – Alpha7 (Trading Academy)
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bullish
EURUSD moved upwards 100 pips last week, still showing determination to go further upwards. The market would experience some equilibrium movement this week, owing to thin activities in the markets, but possibilities of surprise movements cannot be ruled out (especially on some other EUR pairs like EURAUD, EURNZD, etc.). Bulls might target the resistance lines at 1.1000 and 1.1050 this week.
USDCHF
Dominant bias: Bearish
This pair did not make any significant movement last week, and it is more likely that the sideways movement would continue this week; which could make the bias on the market turn neutral. There are support levels at 0.9850 and 0.9800. On the other hand, there are resistance levels at 0.9950 and 1.0000. It is expected that the price would oscillate between these support and resistance levels for the rest of this year – breaking them to the upside or to the downside within the first week of January 2016.
GBPUSD
Dominant bias: Bearish
From Monday to Tuesday, Cable dropped by 100 pips, to rise by 110 pips from Wednesday and Thursday. The current price action in the market could be rightly called a rally in the context of a downtrend, because the bearish outlook cannot be invalidated as long as price is under the distribution territory 1.5050. A very strong bearish movement would likely resume on GBP pairs on the first week of January 2016.
USDJPY
Dominant bias: Bearish
This currency trading instrument performed a steady southwards movement last week. From just under the supply level at 121.50, price was able to move below the supply level at 120.50, to close at 120.27. There is a strong Bearish Confirmation Pattern in the market, which would enable this currency instrument to dive further by 100 pips this week or next week. At the present, long trades do not make much sense in this market.
EURJPY
Dominant bias: Bearish
This cross moved upwards 100 pips in the first few days of last week, before it went down by 100 pips, reaching the demand zone at 131.50. This action supported the extant bearish bias on the market. At this juncture, the movement of this cross would be dictated by the events surrounding the Euro, which means that we might see a rally in case the Euro is strengthened further.
This forecast is concluded with the quote below:
“Money is perpetual in the markets and the objective is to keep as much as you can when it passes through your hands.” – Alpha7 (Trading Academy)
Yearly Trading Forecasts on Major Pairs (2016)
Here’s the market outlook for the year:
EURUSD
Long-term bias: Bearish
EURUSD was generally bearish in 2015, reaching a low of 1.0462 and a high of 1.1712. The last week of that year was bearish, and the bearishness could continue till February 2016. From February to April, we would witness serious bullish effort, which would be eased at the end of April, because bears would come in again and make their presence felt in the market from April to June. However, a new lease of bullish journey would be resumed in the market around October/November, which would last till the end of the year (it would even go beyond the year, into 2017, ending around February 2017). The ongoing bias is now bearish and this should be honored.
USDCHF
Long-term bias: Bullish
Since the large pullback that was seen in January 2015, USDCHF has been making perpetual effort to go upwards. Along the way, there were occasional instances of medium-term bearish phases in the market. The bearish phases would last for few weeks or months, only for price to recover and go up higher. In 2016, there could be intermittent phases of weakness in January. Then the market would most likely show further weakness in the months of February to April; but we can witness a smooth rally in the months of April to June. Right now, price is making attempts to go up, and it could reach the resistance levels at 1.0100 and 1.0150 in the first full week of January.
GBPUSD
Long-term bias: Bearish
The short-term, the medium-term, and the long-term biases on GBPUSD are all bearish. Price reached a low of 1.4565 and a high of 1.5929 in the year 2015. Since June 2015, price has come down by 1100 pips, closing at 1.4732 on December 31, 2015. The year 2014 saw far more predictable movements on GBPUSD than the year 2015 (as it was true of other major pairs and crosses). This year might be different. At the present, the bias on the GBPUSD (and other GBP pairs) is bearish and this would continue till March 2016. The market could rally between March and May of this year. It could even continue to rally in June and July; but not without visible gravity attempts from the bears. Following this, there might not be another serious weakness in the market until December 2016.
USDJPY
Long-term bias: Bearish
On this pair, bears won a pyrrhic victory in the year 2015. The struggle between bears and bulls were so intense that the market phases for that year were mostly consolidations and fake-out phases. The year 2014 was even better than the year 2015. The current bias is bearish, but bulls might gain upper hands before the end of January; plus their victory could last till June (though not with occasional pullbacks along the way). The market might go through some phases of weakness within July and September. Nevertheless, the bulls would push the price higher around October – an action that could last till December.
EURJPY
Long-term bias: Bearish
Last year, the EURJPY cross was characterized by high volatility, choppy movements and deadly struggles between bulls and bears. The extant weakness might continue till February, when price would be strengthened till April 2016. The best action to take in the market would be to seek shorting opportunities between April and September. Additionally, the market might rally from September to November; while we would witness another phases of choppy and volatile movements in December 2016.
This forecast is concluded with the quote below:
“You will have to stick to your process as much as you can even when things do not go as expected. If you can build such a process and manage to follow it 100 per cent of the time, then you will be trading like a professional.” – Pierre Veyret
Here’s the market outlook for the year:
EURUSD
Long-term bias: Bearish
EURUSD was generally bearish in 2015, reaching a low of 1.0462 and a high of 1.1712. The last week of that year was bearish, and the bearishness could continue till February 2016. From February to April, we would witness serious bullish effort, which would be eased at the end of April, because bears would come in again and make their presence felt in the market from April to June. However, a new lease of bullish journey would be resumed in the market around October/November, which would last till the end of the year (it would even go beyond the year, into 2017, ending around February 2017). The ongoing bias is now bearish and this should be honored.
USDCHF
Long-term bias: Bullish
Since the large pullback that was seen in January 2015, USDCHF has been making perpetual effort to go upwards. Along the way, there were occasional instances of medium-term bearish phases in the market. The bearish phases would last for few weeks or months, only for price to recover and go up higher. In 2016, there could be intermittent phases of weakness in January. Then the market would most likely show further weakness in the months of February to April; but we can witness a smooth rally in the months of April to June. Right now, price is making attempts to go up, and it could reach the resistance levels at 1.0100 and 1.0150 in the first full week of January.
GBPUSD
Long-term bias: Bearish
The short-term, the medium-term, and the long-term biases on GBPUSD are all bearish. Price reached a low of 1.4565 and a high of 1.5929 in the year 2015. Since June 2015, price has come down by 1100 pips, closing at 1.4732 on December 31, 2015. The year 2014 saw far more predictable movements on GBPUSD than the year 2015 (as it was true of other major pairs and crosses). This year might be different. At the present, the bias on the GBPUSD (and other GBP pairs) is bearish and this would continue till March 2016. The market could rally between March and May of this year. It could even continue to rally in June and July; but not without visible gravity attempts from the bears. Following this, there might not be another serious weakness in the market until December 2016.
USDJPY
Long-term bias: Bearish
On this pair, bears won a pyrrhic victory in the year 2015. The struggle between bears and bulls were so intense that the market phases for that year were mostly consolidations and fake-out phases. The year 2014 was even better than the year 2015. The current bias is bearish, but bulls might gain upper hands before the end of January; plus their victory could last till June (though not with occasional pullbacks along the way). The market might go through some phases of weakness within July and September. Nevertheless, the bulls would push the price higher around October – an action that could last till December.
EURJPY
Long-term bias: Bearish
Last year, the EURJPY cross was characterized by high volatility, choppy movements and deadly struggles between bulls and bears. The extant weakness might continue till February, when price would be strengthened till April 2016. The best action to take in the market would be to seek shorting opportunities between April and September. Additionally, the market might rally from September to November; while we would witness another phases of choppy and volatile movements in December 2016.
This forecast is concluded with the quote below:
“You will have to stick to your process as much as you can even when things do not go as expected. If you can build such a process and manage to follow it 100 per cent of the time, then you will be trading like a professional.” – Pierre Veyret
Weekly Trading Forecasts on Major Pairs (January 11 - 15, 2016)
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bearish
From Monday till Wednesday, this pair went south. However, it started a bullish journey from Thursday till the close of the market on Friday. Bulls would continue making attempts to push the price further north, but their action would not jeopardize the extant bearish outlook unless price goes above the resistance lines at 1.0000 and 1.0050. A close below the support line at 1.0800 would reinforce the extant bearish outlook.
USDCHF
Dominant bias: Bullish
USD/CHF went upwards from Monday till Wednesday, testing the resistance level at 1.0100. In spite of desperate effort, price was unable to break the resistance level to the upside. As a result of its inability to break the resistance level to the upside, price pulled back by at least 150 pips. There is a risk of further pullback, especially before the end of this week or early next week. The probability of CHF becoming very strong is possible this month, and therefore, we may see this effect on USDCHF (plus other CHF pairs). It cannot be said precisely how long the effect would last if it does happen. This is simply a seasonal tendency on CHF pairs, which have been happening for many years; only that the event of last January was unprecedented.
GBPUSD
Dominant bias: Bearish
Cable came down by 250 pips last week. Since December 14, 2015, price has come down 700 pips. There is a clean Bearish Confirmation Pattern in the market, and there is a high probability that the bearish movement would continue. The accumulation territories at 1.4000 and 1.3950 could be tested this week. Any rallies we see here would be transient; as the outlook on GBP pairs remain bearish for this week.
USDJPY
Dominant bias: Bearish
This is a bear market, which started a few weeks ago. Price went down 250 pips last week (and it has come down by 500 pips from the middle of December 2015). There is a lot of trading activity around the demand level at 117.50, which stands a good chance of being breached to the downside. Additional targets for this week are the demand levels at 117.00 and 116.50.
EURJPY
Dominant bias: Bearish
The EURJPY cross plunged by 350 pips last week, reaching the demand zone at 127.00. From that demand zone, price bounced upwards in the context of a downtrend, testing the supply level at 129.00. This is merely a bullish effort in the context of a downtrend, for the cross cannot go upwards significantly as long as the Yen has lots of stamina in it. Price could retest the demand zones at 127.50 and 127.00.
This forecast is concluded with the quote below:
“Be ready to take advantage of very lucrative opportunities. Traders can make the most money when volatility is high.” – Joe Ross
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bearish
From Monday till Wednesday, this pair went south. However, it started a bullish journey from Thursday till the close of the market on Friday. Bulls would continue making attempts to push the price further north, but their action would not jeopardize the extant bearish outlook unless price goes above the resistance lines at 1.0000 and 1.0050. A close below the support line at 1.0800 would reinforce the extant bearish outlook.
USDCHF
Dominant bias: Bullish
USD/CHF went upwards from Monday till Wednesday, testing the resistance level at 1.0100. In spite of desperate effort, price was unable to break the resistance level to the upside. As a result of its inability to break the resistance level to the upside, price pulled back by at least 150 pips. There is a risk of further pullback, especially before the end of this week or early next week. The probability of CHF becoming very strong is possible this month, and therefore, we may see this effect on USDCHF (plus other CHF pairs). It cannot be said precisely how long the effect would last if it does happen. This is simply a seasonal tendency on CHF pairs, which have been happening for many years; only that the event of last January was unprecedented.
GBPUSD
Dominant bias: Bearish
Cable came down by 250 pips last week. Since December 14, 2015, price has come down 700 pips. There is a clean Bearish Confirmation Pattern in the market, and there is a high probability that the bearish movement would continue. The accumulation territories at 1.4000 and 1.3950 could be tested this week. Any rallies we see here would be transient; as the outlook on GBP pairs remain bearish for this week.
USDJPY
Dominant bias: Bearish
This is a bear market, which started a few weeks ago. Price went down 250 pips last week (and it has come down by 500 pips from the middle of December 2015). There is a lot of trading activity around the demand level at 117.50, which stands a good chance of being breached to the downside. Additional targets for this week are the demand levels at 117.00 and 116.50.
EURJPY
Dominant bias: Bearish
The EURJPY cross plunged by 350 pips last week, reaching the demand zone at 127.00. From that demand zone, price bounced upwards in the context of a downtrend, testing the supply level at 129.00. This is merely a bullish effort in the context of a downtrend, for the cross cannot go upwards significantly as long as the Yen has lots of stamina in it. Price could retest the demand zones at 127.50 and 127.00.
This forecast is concluded with the quote below:
“Be ready to take advantage of very lucrative opportunities. Traders can make the most money when volatility is high.” – Joe Ross
Weekly Trading Forecasts on Major Pairs (January 18 - 22, 2016)
Here’s the market outlook for the week:
EURUSD
Dominant bias: Neutral
This pair experienced short-term upswings and downswings, with no directional movements in the medium term. Just like last week, there may not be very strong movements this week, though there could be significant movements around the end of this month (which could happen on other major pairs as well). There are support lines at 1.0850 and 1.0800. There are also resistance lines at 1.1000 and 1.1050. Price must go above these resistance lines or support lines, paving way for a strong movement expected around the end of this month. It is likely that EUR would rally, which would be visible on all EUR pairs.
USDCHF
Dominant bias: Neutral
Whatever happens on USDCHF would be determined by what happens to EUR. The bias is now neutral, owing to the recent erratic movements in the market. There are support levels at 0.9950 and 0.9900. There are also resistance levels at 1.0050 and 1.0100; and so it is expected that price would go above these resistance levels or the support levels. A movement to the downside is more likely because the resistance level at 1.0100 is now a major barrier to bulls. That resistance level has successfully thwarted rally attempts within the last two weeks.
GBPUSD
Dominant bias: Bearish
This currency trading instrument came down by, at least, 250 pips last week, almost testing the accumulation territory at 1.4250. Price has come down by 950 pips since the middle of December 2015. There is a very strong bearish bias on the market – it does not make sense to go long until there is a bullish retracement of about 300 pips. That is the only condition that can threaten the existing bearish bias; otherwise rallies would offer new short-selling opportunities.
USDJPY
Dominant bias: Bearish
USDJPY consolidated last week, though it showed determination to continue going downwards. Price has come down by close to 600 pips since December 18, 2015, testing the demand level at 116.50 on January 15, 2016. There is a Bearish Confirmation Pattern in the market and it is possible that the market would continue its southward journey, just as certain JPY pairs have done.
EURJPY
Dominant bias: Bearish
This cross, which fell sharply in the first week of this year, simply moved sideways last week. The outlook on the cross is bearish. However, the bearish outlook might be overturned by events affecting the Euro. In case the Euro gains lots of stamina, a rally attempt might be witnessed on this cross, contrary to what other JPY pairs might be doing.
This forecast is concluded with the quote below:
“An ideal trading methodology should allow for limited risks and unlimited gains.” – Anonymous
Here’s the market outlook for the week:
EURUSD
Dominant bias: Neutral
This pair experienced short-term upswings and downswings, with no directional movements in the medium term. Just like last week, there may not be very strong movements this week, though there could be significant movements around the end of this month (which could happen on other major pairs as well). There are support lines at 1.0850 and 1.0800. There are also resistance lines at 1.1000 and 1.1050. Price must go above these resistance lines or support lines, paving way for a strong movement expected around the end of this month. It is likely that EUR would rally, which would be visible on all EUR pairs.
USDCHF
Dominant bias: Neutral
Whatever happens on USDCHF would be determined by what happens to EUR. The bias is now neutral, owing to the recent erratic movements in the market. There are support levels at 0.9950 and 0.9900. There are also resistance levels at 1.0050 and 1.0100; and so it is expected that price would go above these resistance levels or the support levels. A movement to the downside is more likely because the resistance level at 1.0100 is now a major barrier to bulls. That resistance level has successfully thwarted rally attempts within the last two weeks.
GBPUSD
Dominant bias: Bearish
This currency trading instrument came down by, at least, 250 pips last week, almost testing the accumulation territory at 1.4250. Price has come down by 950 pips since the middle of December 2015. There is a very strong bearish bias on the market – it does not make sense to go long until there is a bullish retracement of about 300 pips. That is the only condition that can threaten the existing bearish bias; otherwise rallies would offer new short-selling opportunities.
USDJPY
Dominant bias: Bearish
USDJPY consolidated last week, though it showed determination to continue going downwards. Price has come down by close to 600 pips since December 18, 2015, testing the demand level at 116.50 on January 15, 2016. There is a Bearish Confirmation Pattern in the market and it is possible that the market would continue its southward journey, just as certain JPY pairs have done.
EURJPY
Dominant bias: Bearish
This cross, which fell sharply in the first week of this year, simply moved sideways last week. The outlook on the cross is bearish. However, the bearish outlook might be overturned by events affecting the Euro. In case the Euro gains lots of stamina, a rally attempt might be witnessed on this cross, contrary to what other JPY pairs might be doing.
This forecast is concluded with the quote below:
“An ideal trading methodology should allow for limited risks and unlimited gains.” – Anonymous
Weekly Trading Forecasts on Major Pairs (January 25 - 29, 2016)
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bearish
As it was prognosticated, EURUSD did not experience a significant movement last week, though price moved lower. The lower movement has resulted in a bearish signal, since there is now a Bearish Confirmation Pattern in the market. There are bearish targets at the support lines of 1.0750 and 1.0700, which would be reached as price continues meandering its way further south. EURUSD, and of course other EUR pairs, could become weaker. Generally, very strong movements should be seen on most (major) pairs and crosses this week and next week.
USDCHF
Dominant bias: Bullish
This currency trading instrument moved higher last week (by around 140 pips), resulting in a bullish outlook on it. The previously adamant resistance level at 1.0100, which is now a support level, was broken to the upside. Price is currently above the support level at 1.0150, threatening to go further north. The outlook on USD is now bullish, which should reflect on other USD pairs, save USDCAD. This is also true of CAD pairs, for other currencies are weak against CAD, which should continue for some time.
GBPUSD
Dominant bias: Bearish
Cable reached a low of 1.4078 and a high of 1.4362 last week, making a bullish effort in the context of a downtrend. The bias remains bearish, unless price goes above the distribution territory 1.4500, which is a daunting task for bulls because they would be faced with a strengthening USD. Therefore, Cable might experience some pullbacks this week.
USDJPY
Dominant bias: Bearish
This pair tested the demand level at 116.00 and bounced upwards by roughly 280 pips, closing at 118.77 on Friday. This rally was strong enough to become a threat to the recent bearish bias – which would be rendered useless once the supply level at 119.50 is overcome. The possibility of further rally is high, owing to the expected strength in USD. There would be strong volatility on JPY pair from this week till the end of the month.
EURJPY
Dominant bias: Bearish
EURJPY consolidated throughout last week. Even bearish breakouts were quickly countered by bullish corrections. Bulls and bears are presently engaged in a deadlock struggle that will come to an end soon, for this cross will start a directional movement this week, though a rally might be difficult as long as EUR is weak. High volatility would be witnessed.
This forecast is concluded with the quote below:
“Learning the business of trading is basically no different from learning any other business. Winning means learning major guidelines and concepts that you repeat so often in your own behavior that they become good habits. These good habits then become automatic behavior patterns…” - Andy Jordan
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bearish
As it was prognosticated, EURUSD did not experience a significant movement last week, though price moved lower. The lower movement has resulted in a bearish signal, since there is now a Bearish Confirmation Pattern in the market. There are bearish targets at the support lines of 1.0750 and 1.0700, which would be reached as price continues meandering its way further south. EURUSD, and of course other EUR pairs, could become weaker. Generally, very strong movements should be seen on most (major) pairs and crosses this week and next week.
USDCHF
Dominant bias: Bullish
This currency trading instrument moved higher last week (by around 140 pips), resulting in a bullish outlook on it. The previously adamant resistance level at 1.0100, which is now a support level, was broken to the upside. Price is currently above the support level at 1.0150, threatening to go further north. The outlook on USD is now bullish, which should reflect on other USD pairs, save USDCAD. This is also true of CAD pairs, for other currencies are weak against CAD, which should continue for some time.
GBPUSD
Dominant bias: Bearish
Cable reached a low of 1.4078 and a high of 1.4362 last week, making a bullish effort in the context of a downtrend. The bias remains bearish, unless price goes above the distribution territory 1.4500, which is a daunting task for bulls because they would be faced with a strengthening USD. Therefore, Cable might experience some pullbacks this week.
USDJPY
Dominant bias: Bearish
This pair tested the demand level at 116.00 and bounced upwards by roughly 280 pips, closing at 118.77 on Friday. This rally was strong enough to become a threat to the recent bearish bias – which would be rendered useless once the supply level at 119.50 is overcome. The possibility of further rally is high, owing to the expected strength in USD. There would be strong volatility on JPY pair from this week till the end of the month.
EURJPY
Dominant bias: Bearish
EURJPY consolidated throughout last week. Even bearish breakouts were quickly countered by bullish corrections. Bulls and bears are presently engaged in a deadlock struggle that will come to an end soon, for this cross will start a directional movement this week, though a rally might be difficult as long as EUR is weak. High volatility would be witnessed.
This forecast is concluded with the quote below:
“Learning the business of trading is basically no different from learning any other business. Winning means learning major guidelines and concepts that you repeat so often in your own behavior that they become good habits. These good habits then become automatic behavior patterns…” - Andy Jordan
Weekly Trading Forecasts on Major Pairs (February 1 - 5, 2016)
Here’s the market outlook for the week:
EURUSD
Dominant bias: Neutral
This pair went up from the support line at 1.0800, reaching the resistance line at 1.0950. From that resistance line, price went down 120 pips. There is a neutral bias on this pair, which would remain in force until price goes below the support line at 1.0800 or above the resistance line at 1.0950. For a few weeks, that resistance line at 1.0950 has been refusing bullish movement above it, and therefore it is more likely that price would go further downwards this week, breaking below the support line at 1.0800, owing to a bearish outlook on EUR pairs for this week and for most of February 2016.
USDCHF
Dominant bias: Bullish
Last week, USDCHF moved sideways from Monday to Thursday, in the context of an uptrend, but broke upwards on Friday, reinforcing the existing uptrend. The resistance level at 1.0250 has already been tried, and there is a high possibility that price would go above that resistance level, targeting another resistance levels at 1.0300 and 1.0350. This would be easier especially in the wake of a weaker EURUSD.
GBPUSD
Dominant bias: Bearish
As it is always mentioned, long trades will usually be traps on GBPUSD until it is clearly confirmed that the bearish bias is completely over. Bulls made commendable effort to effect a rally last week – all of which proved futile with what happened on Friday, January 29, 2016 (a 200-pip pullback). The outlook on GBP, and therefore, GBP pairs is bearish for the month of February, even beyond the month. Bullish signals in this market should be ignored, because GBP would face challenges at many fronts, including the strengthening of AUD and NZD in this month.
USDJPY
Dominant bias: Bullish
This currency trading instrument moved in a tight range from Monday to Thursday, but there was a significant bullish breakout early Friday. This bullish breakout took price upwards by 300 pips, testing the supply level at 121.50; plus the rally would continue this week. There were strong bullish breakouts also on other JPY pairs: a beginning of protracted bullish movements on those pairs. Yes, bullish movements were already expected to start on JPY pairs around the end of January, and as a result of this, traders are advised to shun bearish signals on JPY pairs in February, because the outlook on them is bullish for the month.
EURJPY
Dominant bias: Bullish
This cross had already started moving upwards before the massive bullish breakout happened on Friday. Altogether, price went upwards by 400 pips last week, reaching the supply zone at 132.00. Here, pullbacks should be seen as opportunities to go long, because JPY pairs have high probabilities of trending further upwards in the month of February 2016. Currencies like EUR and GBP, which would be weak against some other currencies, would be seen going up against JPY in February. EURJPY could go further upwards by at least, 200 pips this week
This forecast is concluded with the quote below:
“One major aspect of Forex I really value is that trends are easy to find. Trading a trending chart has a big edge for two main reasons. First, trends generate good follow-through. In many instances they go much further than anyone might have expected.” – Gabriel Grammatidis
Here’s the market outlook for the week:
EURUSD
Dominant bias: Neutral
This pair went up from the support line at 1.0800, reaching the resistance line at 1.0950. From that resistance line, price went down 120 pips. There is a neutral bias on this pair, which would remain in force until price goes below the support line at 1.0800 or above the resistance line at 1.0950. For a few weeks, that resistance line at 1.0950 has been refusing bullish movement above it, and therefore it is more likely that price would go further downwards this week, breaking below the support line at 1.0800, owing to a bearish outlook on EUR pairs for this week and for most of February 2016.
USDCHF
Dominant bias: Bullish
Last week, USDCHF moved sideways from Monday to Thursday, in the context of an uptrend, but broke upwards on Friday, reinforcing the existing uptrend. The resistance level at 1.0250 has already been tried, and there is a high possibility that price would go above that resistance level, targeting another resistance levels at 1.0300 and 1.0350. This would be easier especially in the wake of a weaker EURUSD.
GBPUSD
Dominant bias: Bearish
As it is always mentioned, long trades will usually be traps on GBPUSD until it is clearly confirmed that the bearish bias is completely over. Bulls made commendable effort to effect a rally last week – all of which proved futile with what happened on Friday, January 29, 2016 (a 200-pip pullback). The outlook on GBP, and therefore, GBP pairs is bearish for the month of February, even beyond the month. Bullish signals in this market should be ignored, because GBP would face challenges at many fronts, including the strengthening of AUD and NZD in this month.
USDJPY
Dominant bias: Bullish
This currency trading instrument moved in a tight range from Monday to Thursday, but there was a significant bullish breakout early Friday. This bullish breakout took price upwards by 300 pips, testing the supply level at 121.50; plus the rally would continue this week. There were strong bullish breakouts also on other JPY pairs: a beginning of protracted bullish movements on those pairs. Yes, bullish movements were already expected to start on JPY pairs around the end of January, and as a result of this, traders are advised to shun bearish signals on JPY pairs in February, because the outlook on them is bullish for the month.
EURJPY
Dominant bias: Bullish
This cross had already started moving upwards before the massive bullish breakout happened on Friday. Altogether, price went upwards by 400 pips last week, reaching the supply zone at 132.00. Here, pullbacks should be seen as opportunities to go long, because JPY pairs have high probabilities of trending further upwards in the month of February 2016. Currencies like EUR and GBP, which would be weak against some other currencies, would be seen going up against JPY in February. EURJPY could go further upwards by at least, 200 pips this week
This forecast is concluded with the quote below:
“One major aspect of Forex I really value is that trends are easy to find. Trading a trending chart has a big edge for two main reasons. First, trends generate good follow-through. In many instances they go much further than anyone might have expected.” – Gabriel Grammatidis
Weekly Trading Forecasts on Major Pairs (February 8 - 12, 2016)
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bullish
This pair was engaged in a smooth bullish run last week, moving upwards 420 pips before the bearish retracement that was seen on Friday (February 5, 2016). The bearish retracement could be taken as a sale in the context of an uptrend, for the uptrend might continue this week. As long as price is above the support line at 1.0950, the bullish bias cannot be threatened. The resistance lines at 1.1250 and 1.1300 are the potential targets for bulls this week.
USDCHF
Dominant bias: Bearish
Owing to the perceived weakness in USD, USDCHF dropped 340 pips last week, ending the recent bullish outlook on the market. The support level at 0.9900 was tried, before the current upward bounce, which is, however, shallow. That support level at 0.9900 could be retried again and get breached to the downside, as price possibly attains the support levels at 0.9850 and 0.9800 this week. It must be noted that the market is now below the psychological level at 1.0000; so it might be difficult for bulls to effect any bullish changes that would take the price above that level. In case the psychological level at 1.0000 is broken to the upside, then a rally that would eventually threaten the bearish bias might begin.
GBPUSD
Dominant bias: Bullish
From the low of January 29, 2016, Cable rose steeply, testing the distribution territory at 1.4650 on Thursday, February 4, 2016. From that distribution territory, price has come down by 200 pips, on the following day. That correction is a proof of the vulnerability of the ongoing strength in Sterling, for the outlook on GBP pairs remains bearish for this month. While GBP is strong versus USD, it is weak against certain other currencies, for instance, GBPJPY, GBPCHF, EURGBP, etc. The market might resume a rally this week, albeit further bearish correction of another 200 pips would put an end to the current bullish outlook.
USDJPY
Dominant bias: Bearish
The sudden and unexpected weakness of this currency trading instrument was partly due to the weakness of USD. On January 29, 2016, price touched the supply level at 121.50 and dropped 500 pips in the following week, which has resulted in an undisputed Bearish Confirmation Pattern in the market. Long trades are not currently logical until there is a clear indication that bulls have taken control again. Right now, bears are the ones in control.
EURJPY
Dominant bias: Bullish
Unlike other JPY pairs (e.g. NZDJPY, AUDJPY, etc.), EURJPY did not come down significantly because of the strength in EUR itself. Last week, price came down only by 160 pips – a movement that was not strong enough to invalidate the bullish bias on the market. Only a movement below the demand zone at 128.50 would put an end to the extant bullish bias, as price is expected to rally this week or next. It would be mentioned that JPY pairs still have the possibility of rallying this month.
This forecast is concluded with the quote below:
“As I have matured as a trader I have become better at dealing with the emotions that come with trading. That has come simply from exposure, self-awareness and time.” – Rachel Shasha
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bullish
This pair was engaged in a smooth bullish run last week, moving upwards 420 pips before the bearish retracement that was seen on Friday (February 5, 2016). The bearish retracement could be taken as a sale in the context of an uptrend, for the uptrend might continue this week. As long as price is above the support line at 1.0950, the bullish bias cannot be threatened. The resistance lines at 1.1250 and 1.1300 are the potential targets for bulls this week.
USDCHF
Dominant bias: Bearish
Owing to the perceived weakness in USD, USDCHF dropped 340 pips last week, ending the recent bullish outlook on the market. The support level at 0.9900 was tried, before the current upward bounce, which is, however, shallow. That support level at 0.9900 could be retried again and get breached to the downside, as price possibly attains the support levels at 0.9850 and 0.9800 this week. It must be noted that the market is now below the psychological level at 1.0000; so it might be difficult for bulls to effect any bullish changes that would take the price above that level. In case the psychological level at 1.0000 is broken to the upside, then a rally that would eventually threaten the bearish bias might begin.
GBPUSD
Dominant bias: Bullish
From the low of January 29, 2016, Cable rose steeply, testing the distribution territory at 1.4650 on Thursday, February 4, 2016. From that distribution territory, price has come down by 200 pips, on the following day. That correction is a proof of the vulnerability of the ongoing strength in Sterling, for the outlook on GBP pairs remains bearish for this month. While GBP is strong versus USD, it is weak against certain other currencies, for instance, GBPJPY, GBPCHF, EURGBP, etc. The market might resume a rally this week, albeit further bearish correction of another 200 pips would put an end to the current bullish outlook.
USDJPY
Dominant bias: Bearish
The sudden and unexpected weakness of this currency trading instrument was partly due to the weakness of USD. On January 29, 2016, price touched the supply level at 121.50 and dropped 500 pips in the following week, which has resulted in an undisputed Bearish Confirmation Pattern in the market. Long trades are not currently logical until there is a clear indication that bulls have taken control again. Right now, bears are the ones in control.
EURJPY
Dominant bias: Bullish
Unlike other JPY pairs (e.g. NZDJPY, AUDJPY, etc.), EURJPY did not come down significantly because of the strength in EUR itself. Last week, price came down only by 160 pips – a movement that was not strong enough to invalidate the bullish bias on the market. Only a movement below the demand zone at 128.50 would put an end to the extant bullish bias, as price is expected to rally this week or next. It would be mentioned that JPY pairs still have the possibility of rallying this month.
This forecast is concluded with the quote below:
“As I have matured as a trader I have become better at dealing with the emotions that come with trading. That has come simply from exposure, self-awareness and time.” – Rachel Shasha
Weekly Trading Forecasts on Major Pairs (February 15 - 19, 2016)
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bullish
EURUSD moved upwards by 230 pips last week, topping at the resistance line of 1.1350, before the current bearish correction. From that resistance line, price got corrected by 100 pips while the bias on the market remains bullish. There is a need for price to go above that resistance line this week, aiming for other resistance lines at 1.1400 and 1.1450. Otherwise, bears might overcome bulls and manage to push price further south.
USDCHF
Dominant bias: Bearish
This pair has proven to be one of the strongest trending among the majors. Price dropped by roughly 260 pips last week, moving briefly below the support level at 0.9700. Then price turned upwards, making a shallow bullish effort. The bullish effort cannot render the current bearish bias invalid unless price goes above the resistance levels at 0.9900 and 1.0000, which is not an easy task, given the ongoing bearish sentiment in the market. USDCHF is suffering from all-round attacks, for EURUSD is up, causing USDCHF to remain under pressure, and CHF itself is strong (see CHF pairs). Eventually, the shallow bullish effort in the market might turn out to be another shallow short-selling opportunity.
GBPUSD
Dominant bias: Bullish
Cable merely consolidated throughout last week, in the context of a medium-term uptrend. The presence of bulls is still visible in the market, though it is possible for them to be subdued by bears any time. A movement above the distribution territories at 1.4600 and 1.4650 would reinforce the current bullish effort, while a movement below the accumulation territories at 1.4350 and 1.4300 would invalidate it.
USDJPY
Dominant bias: Bearish
The price has gone down by 600 pips this week, and it has gone down by 1000 pips since January 29, 2016. The demand level at 111.50 was tried before the upward bounce that happened on Friday, February 12, 2016. The upward bounce is another opportunity to go short while the bearish trend lasts. The bias on JPY pairs is currently bearish, although that does not rule out the possibility of them rallying before the end of this month.
.
EURJPY
Dominant bias: Bearish
This cross experienced a large pullback last week, going down by 450 pips and reaching the demand zone at 126.00. Thus time around the stamina in EUR has been unable to cause it to withstand the assault from JPY (as it is true of some other EUR pairs). It is logical to assume further southerly movement in the market, due to a strong Bearish Confirmation Pattern in the market. Along the way, upward bounces might be ignored as long as it is clear that bears are in control.
This forecast is concluded with the quote below:
“Almost all of my trading is mechanical — 100% based on rules I have tested and found to be valid. I tend to ignore news of the day, fundamental information and adverse “big picture” scenarios because these do not impact my systems greatly. Sometimes, these factors affect my results in the short term, but over the long term, the systems have a positive expectancy.” - Kevin J. Davey
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bullish
EURUSD moved upwards by 230 pips last week, topping at the resistance line of 1.1350, before the current bearish correction. From that resistance line, price got corrected by 100 pips while the bias on the market remains bullish. There is a need for price to go above that resistance line this week, aiming for other resistance lines at 1.1400 and 1.1450. Otherwise, bears might overcome bulls and manage to push price further south.
USDCHF
Dominant bias: Bearish
This pair has proven to be one of the strongest trending among the majors. Price dropped by roughly 260 pips last week, moving briefly below the support level at 0.9700. Then price turned upwards, making a shallow bullish effort. The bullish effort cannot render the current bearish bias invalid unless price goes above the resistance levels at 0.9900 and 1.0000, which is not an easy task, given the ongoing bearish sentiment in the market. USDCHF is suffering from all-round attacks, for EURUSD is up, causing USDCHF to remain under pressure, and CHF itself is strong (see CHF pairs). Eventually, the shallow bullish effort in the market might turn out to be another shallow short-selling opportunity.
GBPUSD
Dominant bias: Bullish
Cable merely consolidated throughout last week, in the context of a medium-term uptrend. The presence of bulls is still visible in the market, though it is possible for them to be subdued by bears any time. A movement above the distribution territories at 1.4600 and 1.4650 would reinforce the current bullish effort, while a movement below the accumulation territories at 1.4350 and 1.4300 would invalidate it.
USDJPY
Dominant bias: Bearish
The price has gone down by 600 pips this week, and it has gone down by 1000 pips since January 29, 2016. The demand level at 111.50 was tried before the upward bounce that happened on Friday, February 12, 2016. The upward bounce is another opportunity to go short while the bearish trend lasts. The bias on JPY pairs is currently bearish, although that does not rule out the possibility of them rallying before the end of this month.
.
EURJPY
Dominant bias: Bearish
This cross experienced a large pullback last week, going down by 450 pips and reaching the demand zone at 126.00. Thus time around the stamina in EUR has been unable to cause it to withstand the assault from JPY (as it is true of some other EUR pairs). It is logical to assume further southerly movement in the market, due to a strong Bearish Confirmation Pattern in the market. Along the way, upward bounces might be ignored as long as it is clear that bears are in control.
This forecast is concluded with the quote below:
“Almost all of my trading is mechanical — 100% based on rules I have tested and found to be valid. I tend to ignore news of the day, fundamental information and adverse “big picture” scenarios because these do not impact my systems greatly. Sometimes, these factors affect my results in the short term, but over the long term, the systems have a positive expectancy.” - Kevin J. Davey
We are also moving into March which seasonally is a Up month for fiber.. given the historical influence at play. https://www.dailyfx.com/forex/fundamental/us_dollar_index/daily_dollar/2012/12/27/forex_seasonality_us_dollar_strength_january.html
Great bit of work on weekly bias...
Great bit of work on weekly bias...
Weekly Trading Forecasts on Major Pairs (February 22 - 26, 2016)
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bullish
This pair went slightly downwards on Monday and moved sideways for the rest of the week. A closer look at the chart revealed a consolidation to the downside, which threatens the recent bullish bias. For the bias not to turn bearish, bulls must prevent bears from pushing price below the support line at 1.1000. In case bulls succeed in doing this, we may see the price going upwards this week, thereby ending the threat to the recent bullish bias.
USDCHF
Dominant bias: Bearish
USDCHF went up 170 pips last week, but it met a strong opposition at the resistance level of 0.9950. Price was unable to go above that resistance level in spite of several attempts to breach it. This week, the movement of USDCHF would be largely determined by whatever happens to EURUSD. USDCHF may experience great difficulty in breaking the resistance level at 1.0000 to the upside (an event that could end the current bearish bias in the market). Failure to do this could reinforce the bearish bias, which is currently under threat from bulls.
GBPUSD
Dominant bias: Neutral
From the high of Monday, Cable dropped by 280 pips, reaching the accumulation territory at 1.4250 on Wednesday, February 17, 2016. The accumulation territory at 1.4250 has proven to be a recalcitrant barrier to bears, for the price could not go below it in spite of forays into it, and this has forced Cable into a neutral phase. The market ended on Friday with a strong upward bounce, which might be a short selling opportunity unless the distribution territories at 1.4550 and 1.4600 are overcome.
USDJPY
Dominant bias: Bearish
This market rallied 120 pips on Monday – resulting in a better entry price for sellers. From the high of Tuesday (114.87), price dropped by 240 pips, to close at 112.64 on Friday. There is a clean Bearish Confirmation Pattern in the market, which indicates the possibility of price going further south, reaching the demand levels at 111.50 and 111.00. The chances of JPY pairs rallying significantly this month are now slim.
EURJPY
Dominant bias: Bearish
In the context of a downtrend, EURJPY cross went upwards on Monday and started coming down from the high of Tuesday. From Tuesday, price came down gradually by 300 pips, reaching the demand zone at 125.00 on Friday. There is an ongoing bearish signal on this cross, which may enable it to move further southward by at least, 200 pips this week, reaching the demand zones at 124.50 and 123.50. Only a sudden weakness in the Yen would cause this cross to skyrocket.
This forecast is concluded with the quote below:
“As you fully understand “your trading game” and know how the markets are functioning, you greatly increase your probability of success. Most of all, you will have “fun” trading — independent of winning or losing. If you do not enjoy yourself trading, then you are probably not trading the right systems – ones that fit you.” - Gabriel Grammatidis
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bullish
This pair went slightly downwards on Monday and moved sideways for the rest of the week. A closer look at the chart revealed a consolidation to the downside, which threatens the recent bullish bias. For the bias not to turn bearish, bulls must prevent bears from pushing price below the support line at 1.1000. In case bulls succeed in doing this, we may see the price going upwards this week, thereby ending the threat to the recent bullish bias.
USDCHF
Dominant bias: Bearish
USDCHF went up 170 pips last week, but it met a strong opposition at the resistance level of 0.9950. Price was unable to go above that resistance level in spite of several attempts to breach it. This week, the movement of USDCHF would be largely determined by whatever happens to EURUSD. USDCHF may experience great difficulty in breaking the resistance level at 1.0000 to the upside (an event that could end the current bearish bias in the market). Failure to do this could reinforce the bearish bias, which is currently under threat from bulls.
GBPUSD
Dominant bias: Neutral
From the high of Monday, Cable dropped by 280 pips, reaching the accumulation territory at 1.4250 on Wednesday, February 17, 2016. The accumulation territory at 1.4250 has proven to be a recalcitrant barrier to bears, for the price could not go below it in spite of forays into it, and this has forced Cable into a neutral phase. The market ended on Friday with a strong upward bounce, which might be a short selling opportunity unless the distribution territories at 1.4550 and 1.4600 are overcome.
USDJPY
Dominant bias: Bearish
This market rallied 120 pips on Monday – resulting in a better entry price for sellers. From the high of Tuesday (114.87), price dropped by 240 pips, to close at 112.64 on Friday. There is a clean Bearish Confirmation Pattern in the market, which indicates the possibility of price going further south, reaching the demand levels at 111.50 and 111.00. The chances of JPY pairs rallying significantly this month are now slim.
EURJPY
Dominant bias: Bearish
In the context of a downtrend, EURJPY cross went upwards on Monday and started coming down from the high of Tuesday. From Tuesday, price came down gradually by 300 pips, reaching the demand zone at 125.00 on Friday. There is an ongoing bearish signal on this cross, which may enable it to move further southward by at least, 200 pips this week, reaching the demand zones at 124.50 and 123.50. Only a sudden weakness in the Yen would cause this cross to skyrocket.
This forecast is concluded with the quote below:
“As you fully understand “your trading game” and know how the markets are functioning, you greatly increase your probability of success. Most of all, you will have “fun” trading — independent of winning or losing. If you do not enjoy yourself trading, then you are probably not trading the right systems – ones that fit you.” - Gabriel Grammatidis
Weekly Trading Forecasts on Major Pairs (February 29 – March 4, 2016)
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bearish
EURUSD traded lower on Monday, and then moved sideways until Friday, when it traded further southward, closing at 1.0931. Altogether, price moved downwards close to 200 pips, while the outlook on the market is bearish. There are support lines at 1.0900 and 1.0850, which would attempt to challenge more bearish movement. This week, EURUSD may be seen making attempts to rally, which might become serious in case bulls are determined enough. In fact, all major pairs would been seen making short-term significant swings in the month of March.
USDCHF
Dominant bias: Neutral
This pair merely traded sideways last week, meandering its way between the support level at 0.9850 and the resistance level at 1.0000. There is going to be a break above that resistance level or below that support level this week, although a break below the support level is more likely, because the resistance level at 1.0000 is a great barrier and because EURUSD could be seen making some bullish attempt this week. Whatever happens this week should put an end to the current neutral bias on the market.
GBPUSD
Dominant bias: Bearish
GBPUSD dropped over 430 pips last week, almost testing the accumulation territory at 1.3850. Further bearish movement is possible this week and next week: Upwards bounces should be taken as short-selling opportunities. Just as it was predicted at the beginning of February 2016, GBP pairs are trending significantly downwards and they would remain under bearish pressure. However, around the end of March, GBP pairs would start rallying significantly.
USDJPY
Dominant bias: Bearish
In the middle of last week, this currency trading instrument started a bullish correction that has actually become a threat to the recent bearish outlook on the market. This trading instrument should continue going further upwards this week, until the recent bearish outlook is rendered completely invalid. On timeframes lower than the 4-hour chart, there are already bullish signals. The bullish correction is also visible on other JPY pairs, which would most probably be seen making commendable bullish efforts this week and next. The outlook on JPY pairs is bright for the month of March.
EURJPY
Dominant bias: Bearish
EUR/JPY cross moved lower last week, reaching the demand zone at 122.50 on Wednesday, February 24, 2016. Since then, price has gone up more than 200 pips – a sort of bullish correction that is also visible on other JPY pairs. Further northward movement of 250 pips would lead to a Bullish Confirmation Pattern in the market; otherwise price could test the demand zone at 122.50 again, owing to bearish reprisals (though it is unlikely that price would go below that demand zone).
This forecast is concluded with the quote below:
“I love the lifestyle of being a trader. I get to run my own business and set my own schedule. They say you should do what you love, and this is exactly what I love. What is there not to love? I wake up, take a few trades during the day, and I'm done! I can move on and enjoy the rest of my day. The best part of this life for me is that it allows me more time to spend with my children. I would not have this flexibility if I worked an 80-hour week in corporate America.” - Richard Mazur (Source: Collective2)
Here’s the market outlook for the week:
EURUSD
Dominant bias: Bearish
EURUSD traded lower on Monday, and then moved sideways until Friday, when it traded further southward, closing at 1.0931. Altogether, price moved downwards close to 200 pips, while the outlook on the market is bearish. There are support lines at 1.0900 and 1.0850, which would attempt to challenge more bearish movement. This week, EURUSD may be seen making attempts to rally, which might become serious in case bulls are determined enough. In fact, all major pairs would been seen making short-term significant swings in the month of March.
USDCHF
Dominant bias: Neutral
This pair merely traded sideways last week, meandering its way between the support level at 0.9850 and the resistance level at 1.0000. There is going to be a break above that resistance level or below that support level this week, although a break below the support level is more likely, because the resistance level at 1.0000 is a great barrier and because EURUSD could be seen making some bullish attempt this week. Whatever happens this week should put an end to the current neutral bias on the market.
GBPUSD
Dominant bias: Bearish
GBPUSD dropped over 430 pips last week, almost testing the accumulation territory at 1.3850. Further bearish movement is possible this week and next week: Upwards bounces should be taken as short-selling opportunities. Just as it was predicted at the beginning of February 2016, GBP pairs are trending significantly downwards and they would remain under bearish pressure. However, around the end of March, GBP pairs would start rallying significantly.
USDJPY
Dominant bias: Bearish
In the middle of last week, this currency trading instrument started a bullish correction that has actually become a threat to the recent bearish outlook on the market. This trading instrument should continue going further upwards this week, until the recent bearish outlook is rendered completely invalid. On timeframes lower than the 4-hour chart, there are already bullish signals. The bullish correction is also visible on other JPY pairs, which would most probably be seen making commendable bullish efforts this week and next. The outlook on JPY pairs is bright for the month of March.
EURJPY
Dominant bias: Bearish
EUR/JPY cross moved lower last week, reaching the demand zone at 122.50 on Wednesday, February 24, 2016. Since then, price has gone up more than 200 pips – a sort of bullish correction that is also visible on other JPY pairs. Further northward movement of 250 pips would lead to a Bullish Confirmation Pattern in the market; otherwise price could test the demand zone at 122.50 again, owing to bearish reprisals (though it is unlikely that price would go below that demand zone).
This forecast is concluded with the quote below:
“I love the lifestyle of being a trader. I get to run my own business and set my own schedule. They say you should do what you love, and this is exactly what I love. What is there not to love? I wake up, take a few trades during the day, and I'm done! I can move on and enjoy the rest of my day. The best part of this life for me is that it allows me more time to spend with my children. I would not have this flexibility if I worked an 80-hour week in corporate America.” - Richard Mazur (Source: Collective2)