EURUSD
Dominant
bias: Bearish
Last week, EURUSD went downwards 110 pips,
just as it was projected. There is a bearish signal in the market, which would
cause its weakness to hold out, as long as USD is stronger than EUR. The pair
would continue trudging south this week, unless USD shows any signs of
vulnerability. This means that EURUSD could rally in case USD shows any signs
of weakness. EUR might also experience some gains against certain currencies.
USDCHF
Dominant bias: Bullish
This pair trended sideways last week, and
moved slightly higher on Friday. There is a Bullish Confirmation Pattern in the
market, coupled with a possibility of testing the resistance levels at 0.9950
and 1.0000 (a level of parity of USD with CHF). However, it is unlikely that
the price would ever go above the resistance level at 1.0000, because a probable
threat from CHF remains. CHF might gain strength versus certain majors – which could
also affect USDCHF.
GBPUSD
Dominant
bias: Bullish
Cable
moved upwards 200 pips, testing the distribution territory at 1.4700 on May 25.
Price was unable to stay above that distribution territory, since bears fought
successfully to halt further rally, effecting an 80-pip correction. This week,
the probability of Cable rallying further is higher than the probability of it
going south significantly. The outlook on the market is bullish, though constant
presence of disgruntled bears is a threat.
USDJPY
Dominant bias: Neutral
This market was caught in an equilibrium phase throughout last week, with
no bullish or bearish victory. Nonetheless, a closer examination reveals that
bulls are still willing to push price northward; and they would gladly do so
when conditions become favorable to them. In case bulls win, a bullish breakout
to the supply levels at 111.00 and 111.50 might be witnessed. The possibility
of a northward breakout would be in place as long as price does not go below
the demand levels at 108.50 and 108.00.
EURJPY
Dominant bias: Neutral
This currency trading instrument has been going sideways
for 2 weeks. The sideways phase would be in force until price crosses below the
demand zone at 121.50, or above the supply zone at 125.50. Those demand and
supply zones are strong, and unless price overcomes one of them, this sideways
movement would remain. The longer the sideways movement is in place, the more
imminent a breakout is (and the more directional the breakout would be when it
occurs).
This forecast is concluded with the quote below:
“The big dogs
are making an average profit over lots of occurrences utilizing modern
technology and the plethora of ways that they can trade. Even so, the little
guys with smaller sized accounts can complete with them and, in many cases,
outperform them. That’s because they are small and don’t have liquidity issues
or regulatory restraints.” – Phil Newton (Source: Trade2win)
Source: www.tallinex.com
What Super Traders
Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html
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