EURUSD
Primary
trend: Bullish
From January to February 2012, the EURUSD
went up. Then it fell by over 1400 pips, i.e. between February and July. Since
then the EURUSD has been caught in slow but steady bullish pressure. From July
to September, the pair rose by more than 1000, before it consolidated slightly
to the downside. The consolidation to the downside took place between September
and November – something that saw a loss of over 400 pips. Right now, the pair
is upwards, and as a result of this, we have what can be called a Bullish
Confirmation Pattern. Clearly, this is a bull market.
USDCHF
Primary trend: Bearish
There has been some perpetual bearish
pressure on the USDCHF, showing the bears’ hegemony. From January to February
2012, the price fell by more than 600 pips. And from that period till April, it
was in an equilibrium mode. Then it rose by over 800 pips (that was from April
to July). Since then, the price has fallen by close to 800 pips. Yes, this is a
Bearish Confirmation Pattern. Nevertheless, one should note that the price is
going towards a major psychological level – something of a recalcitrant
accumulation zone. The zone is the price level at 0.9000.
GBPUSD
Primary
trend: Bullish
The
Cable has been volatile in the year 2012; extremely volatile. The price actions
included sharp declines and well as northward upsurges. From January to April
2012, the price rallied by over 1000 pips. After that, the price plunged by
more than 1000 pips, especially in the month of May. From May to September, the
price rose by another 1000 pips. Then it fell by another 400 pips (from September
to November). Currently, the price is engaged in some northward attempts,
though in a volatile mode. What is happening right now shows that buying
pressure is extant.
USDJPY
Primary trend: Bullish
This is a
bull market, a significant bull market. One should not assume that the market
is overbought, because it has much room to go. From January to March, the
USDJPY rose by more than 600 pips. It then fell by 600 pips (Between March and
May), and range-traded from then till July. Since July till now, the price has shot
upwards by over 800 pips. While some indicators are showing overbought
conditions on this pair, the price continues going upwards. One reason for this
is because of perpetual weakness in the Yen. It is likely that the price would
reach the resistance zone at 87.00.
EURJPY
Primary trend: Bullish
From July 2012 till now, the EURJPY has moved upwards by
more than 1800 pips, whereas from April to July, it fell by over 1600 pips! The
bullish outlook is still valid. We should also note that, this same cross rose
by close to 1400 pips from January to March. All JPY pairs are bullish, just as
it has been said earlier. One wonderful thing about this unique class of pairs
is that, in most cases, the weakness in the Yen would signify bull markets on
all JPY pairs, while the strength in the Yen would make the pairs plummet. That
is why those who trade JPY pairs can make hefty gains if they are caught the
right direction.
Conclusion: It would
be assumed that the current market biases would continue going as such, until
there would be some confirmed reversals in the markets. When this happens, the
bearish runs would be noteworthy. Moreover, the markets tend to skydive
(go southwards) more rapidly than they shoot up (go northwards). To make the
markets go upwards, there is a need for more buying pressure, generated by
bulls, so that they can offer higher prices than the existing speculators. This
scenario also has its boundaries. As soon as shorts trades are called, the
boundaries would not matter as such. Please do not forget that you cannot
outwit the markets. However, you can become victorious if you know how to
truncate losing trades and allow winning trades to run.
This article is concluded with the
quote below:
“Only if I learn
from my mistakes and look for the reasons why I have missed certain sharp price
movements can I improve my trading!” – Faik
Giese
Azeez Mustapha
Forex Signals Strategist, Funds
Manager &Coach
Open an account here: eng.fxclearing.ca/ib/915
If you want to receive permanently free winning Forex
trading signals, please send me an email titled: “A Request for Free Trading
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Source: www.paxforex.com
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