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  1. #111
    Senior Member analyst75's Avatar
    Weekly Trading Forecasts for Major Pairs (April 17 - 21, 2017)

    Here’s the market outlook for the week:

    EURUSD
    Dominant bias: Bearish
    EURUSD consolidated from Monday to Friday, save a faint rally that was witnessed on Wednesday. The bearish bias on the pair still holds, though another week-long consolidation would lead it into a neutral zone. This week, attempts would be made to push price upwards, and that would be something that cannot override the current bearish bias unless price goes above the resistance line at 1.0800. Until that resistance line is broken to the upside, any rallies seen here should be taken as good “sell” signals.

    USDCHF
    Dominant bias: Bullish
    Just like EURUSD, USDCHF consolidated last week, in a context of an uptrend (albeit some shallow bearish correction has been witnessed on smaller time horizons). Price has been able to stay above the support level of 1.0000; for a movement below that support level would result in a bearish bias. Price could reach the resistance levels at 1.0100 and 1.0150 within the next several trading days. This week, the movement on USDCHF is subject to whatever happens to EURUSD.

    GBPUSD
    Dominant bias: Bullish
    Cable went up by 190 pips, testing the distribution territory at 1.2550, before a shallow correction that was witnessed at the end of last week. The outlook on Cable remains bullish (and some bullishness would be detected on GBP pairs as well). The distribution territory at 1.2550 would be tested again and most probably, breached to the upside, as price then goes on towards other distribution territories at 1.2600, 1.2650 and 1.2700.

    USDJPY
    Dominant bias: Bearish
    As it was predicted, USDJPY went south by nearly 290 pips last week, thus ending the flat movement that happened in the market between April 3 and April 7. There is a clean Bearish Confirmation Pattern in the market and the outlook on it remains bearish for this week and this month (an outlook that is also true of other JPY pairs). This week, bears would make attempt to push price below the demand levels at 108.50, 108.00 and 107.50.

    EURJPY
    Dominant bias: Bearish
    Our bearish targets for this market were exceeded last week, since price closed below the supply zone at 115.50., now aiming at the demand zone at 115.00. Price dropped 270 pips last week – having dropped roughly 730 pips since March 13, 2017. Further and further bearish movement is envisaged as price goes towards the demand zones at 115.00, 114.50 and 114.00. These are initial targets for the next several trading days, as they could be exceeded. Temporary bullish attempts could also be witnessed this week.

    This forecast is concluded with the quote below:

    “It feels good when I look at returns of big hedge funds, and see that I beat many of them almost every year.” - Roland Manuhutu
    Articles copyright: Tallinex.com

  2. #112
    Senior Member analyst75's Avatar

    Weekly Trading Forecasts for Major Pairs (April 24 - 28, 2017) !!!

    Here’s the market outlook for the week:

    EURUSD
    Dominant bias: Bearish
    This pair trended upwards last week, briefly went above the resistance line at 1.0750, and then retraced southwards. There are support lines at 0.0700 and 0.0650, which may attempt to impede any bearish attempts this week. The bearishness in the market still holds, until price goes above the resistance line at 1.0800, which is supposed to happen this week. The outlook on EURUSD and other EUR pairs, is bullish for this week.

    USDCHF
    Dominant bias: Neutral
    This month, USDCHF has generally moved between the support level at 0.9900 and the resistance level at 1.0100, having brought about a neutral bias on the market. Movements above the level at 1.0000 would cause short-term bullish signals, and movements below the level would cause short-term bearish signals, while the long-term bias remain neutral. Price is expected to go south this week, reaching the support level at 0.9900. Protracted selling pressure would be needed to break that support level to the downside.

    GBPUSD
    Dominant bias: Bullish
    As is was anticipated, GBPUSD went significantly upwards last week; and so were other GBP pairs (EURGBP went south). Price skyrocketed by 370 pips, reaching the distribution territory 1.2900. Price has moved sideways since then – in what could be called a pause in the northward journey. This week, the outlook on GBPUSD, as well as other GBP pairs, remains bullish. So, when momentum returns to the market, it would most probably favor bulls. Price may target the distribution territories at 1.2850, 1.2900 and 1.2950 this week.

    USDJPY
    Dominant bias: Bearish
    This trading instrument consolidated throughout last week, in a context of a downtrend. A movement above the supply level at 111.00 would result in a bullish signal, as the current bearish bias is overridden. A movement below the demand level at 108.00 would result in a clear Bearish Confirmation Pattern in the market, as price goes further south. The outlook on USD/JPY is bearish for this week. Therefore, southward a southward movement is more likely.

    EURJPY
    Dominant bias: Bearish
    This cross pair made effort to go up last week, rising from the demand zone at 115.00, and reaching the supply zone at 117.50 (a movement of 250 pips). The bullish effort was not strong enough to override the extant bearish outlook on the market. Price was engaged in some bearish correction on Friday; plus the last week rise in price may turn out to be a good opportunity to sell short at better prices. The outlook on other JPY pairs is also bearish for this week.

    This forecast is concluded with the quote below:

    “If we have trained properly, if we understand our planning, if we have done our preparation, our system execution should be a matter of routine.” – Ken Long
    Articles copyright: Tallinex.com

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