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  1. #131
    Senior Member analyst75's Avatar
    Technical Reviews for Gold, Silver and Bitcoin (August 2017)

    GOLD (XAUUSD)
    Dominant Bias: Bullish
    Gold went downwards in June, but went upwards in July, thus recovering some of the losses sustained in June. In July, a low of 1204.53 was reached, while a high of 1270.63 was also reached – showing bull’s supremacy. The bullish effort that was made last month has resulted in a bullish bias, which is supposed to continue this month. Gold may target the resistance levels at 1270.00, 1275.00 and 1280.00. These are initial targets, which might be exceeded as price goes northwards in slow and steady manner.

    SILVER (XAGUSD)
    Dominant Bias: Bullish
    Silver plummeted in June and early July, reaching a low of 14.3553. The low was reached as a result of a flash crash that was experienced in the first week of July, which was quickly recovered as price bounced seriously upwards, closing the month on a bullish note. There is now a Bullish Confirmation Pattern on Silver, which signals further bullish effort in August. The next targets are located at the supply levels at 17.0000, 17.5000 and 18.0000, which would require a very strong buying pressure to exceed.

    BITCOIN (BTCUSD)
    Dominant Bias: Bullish
    Bitcoin is both volatile and choppy (though the overall bias on the market is bullish). There was a serious bearish movement in the first half of July, which culminated in a gap-down. That threatened the bullish bias, but the second half of the month saw an agreeable recovery as price went upwards by roughly 100,000 pips from the low of the month. This has helped emphasize the recent bullish outlook on the market, which is expected to continue in August. The distribution territories at 2900.00, 2950.00 and possibly, 3000.00 are being aimed. However, there is a probability of a pullback as price approaches the distribution territory at 3000.00, which is an important territory.


    Source: www.tallinex.com
    Articles copyright: Tallinex.com

  2. #132
    Senior Member analyst75's Avatar
    Weekly Trading Forecasts for Major Pairs (August 7 - 11, 2017)

    Here’s the market outlook for the week:

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

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

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

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

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

    This forecast is concluded with the quote below:

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

    Source: www.tallinex.com
    Articles copyright: Tallinex.com

  3. #133
    Senior Member analyst75's Avatar

    Technical Forecasts for CFDs (August 2017) !!!

    AUS200
    Dominant bias: Neutral
    In the last two months, this market has not moved in a directional mode. It has been moving only in a zigzag manner since then, in a quite choppy environment. This has led to the current neutrality on the market – which is supposed to continue in the next few weeks. The market is currently not attractive, and thus, no position is recommended until there is a directional movement, which would either push price above the resistance line at 5840.00, or below the support line at 5630.00. As long as price stays between the aforementioned resistance and support lines, the neutral bias on the market would be in place.

    SPX500
    Dominant bias: Bullish
    SPX500 is bullish in the long-term and neutral in the short-term. While the overall bias remains bullish, price has consolidated in the last two weeks, though bull is still intent on pushing price further northwards. A movement above the resistance level at 2485.0 would result in more emphasis on the bullish bias; while a movement below the support level at 2400.0 would result in a threat to the bullish bias (but that would require a very serious and protracted selling pressure). Before a directional movement occurs, the current short-term consolidation would continue for several trading days.

    US30
    Dominant bias: Bullish
    US30 is bullish, both in the long-term and the short-term. The bullishness in the market is strong – as emphasized by the Bullish Confirmation Pattern in it. Price was bullish both in June and July (gaining more than 500 points in July). August also started on a bullish note, and price has gone upwards so far, gaining additional 130 points along the way. This month, US30 is expected to continue its slow and steady journey to the north, raking in at least, another 200 points. There could be occasional pauses or shallow pullbacks along the way, but the market movement would generally be bullish.

    GER30
    Dominant bias: Bearish
    This interesting market, fluctuated wildly in June, and became bearish in July. The wild fluctuation is still in place – only that it is happening in a context of a bearish bias. In July, price reached a high of 12679.0 and a low of 12081.9. Any bullish attempts in this market may be seen as opportunities to sell short at better prices. This August, price would first exceed the low of July (12081.9), and then go towards the demand level at 12000.0 which is the ultimate target for the month. However, that does not rule out the possibility that the ultimate target might be breached to the downside, especially in the face strong bearish pressures.

    FRA40
    Dominant bias: Bearish
    FRA40 became bearish in June, after reaching the high of 5487.7 in May. That high has thus remained the highest price of FRA40 this year, and it could eventually be the high of the year. From the May high, till now, price has moved southward by 3,700 points, doing so in a slow and steady way in July. There is a Bearish Confirmation Pattern in the market, which means that the upwards bounce that has been witnessed in this month is not something to be taken seriously, for price would go further downwards, targeting the demand zones at 5079.0, which could even be breached to the downside. There is a strong demand zone at 5000.0.

    Source: www.tallinex.com
    Articles copyright: Tallinex.com

  4. #134
    Senior Member analyst75's Avatar

    Weekly Trading Forecasts for Major Pairs (August 14 - 18, 2017) !!!

    Here’s the market outlook for the week:

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

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

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

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

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

    This forecast is concluded with the quote below:

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


    Source: www.tallinex.com
    Articles copyright: Tallinex.com

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