EURUSD
Dominant
bias: Bearish
Because of the events in the Eurozone, EUR
pairs might open with gaps this week and in case the gaps happen, they would
harbinger great volatility in the markets for the rest of the week. EURUSD
trended downwards in the beginning of last week, and later moved sideways till
the end of the week. The bias is bearish and a bearish breakout is possible at
the end of the current sideways movement. The possible breakout would happen
when the support line at 1.1150 is broken to the downside as price goes further
downwards to other support lines at 1.1050 and 1.1000. A movement above the
resistance line at 1.1300 would render this expectation invalid.
USDCHF
Dominant bias: Bullish
This pair trended upwards in the beginning
of last week, and later moved sideways till the end of the week. The bias is
bullish and a bullish breakout is possible at the end of the current sideways
movement. This week, the sanguine bulls would try to keep price moving upwards,
and so, the possible breakout would happen when the resistance level at 0.9400 is
broken to the upside as price goes further upwards to other resistance levels
at 0.9450 and 0.9500. On the other hand, a movement below the resistance line
at 0.9200 would render this stated possibility illogical.
GBPUSD
Dominant
bias: Bullish
Cable
came down by roughly 200 pips last week – a threat to the extant bullish bias.
Price then moved in an equilibrium phase till the close of the market on
Friday, June 26, 2015. There is now a very high probability that this market
(and most other GBP pairs) would become seriously weak, starting from this week
and in the first half of July 2015. The current bullish bias would be valid
only as long as price is above the accumulation territory at 1.5650.
USDJPY
Dominant bias: Neutral
This trading instrument is currently
consolidating. Price is generally moving/oscillating between the supply level
at 124.50 and the demand level at 122.50. It would normally be expected that
price would eventually break above the aforementioned supply level or demand
level, paving way for a sustained trending move. A strong southward movement is
highly possible in the month of July 2015.
EURJPY
Dominant bias: Bearish
Just like EURUSD, this cross first trended downwards last
week before moving sideways. Whatever happens to Euro (such as gaps, strong
movement), would have similar impact on this cross. There is a Bearish
Confirmation Pattern in the market and a strong bearish trend is probable in
July.
This forecast is concluded with the quote below:
“When you trade
from a carefree state of mind, everything about your trading changes.
Remember, that
the primary skill that we are talking about here is simply trading without
fear. This is a trading skill. It is the primary trading skill that you will
have to acquire to create consistency – to trade without fear.” –
Mark Douglas
Source: www.tallinex.com
What Super Traders Don’t Want You To Know:
No comments:
Post a Comment