Saturday, February 4, 2017

Weekly Trading Forecasts on Major Pairs (February 6 - 10, 2017)

Here’s the market outlook for the week:

Dominant bias: Bullish
The bias on this pair is currently bullish. Price managed to go upwards last week, reaching the resistance line at 1.0800, but not able to stay above it. Several failed attempts were made, to breach the resistance line to the upside, and the goal must be achieved to save the current bullish bias. A movement above the resistance line at 1.0800 would reinforce the bullish bias – and failure to do that would eventually bring about a large pullback in the market.

Dominant bias: Bearish
This market has been trudging south since the beginning of this year. From early January till now, price has gone down roughly 350 pips. As long as EURUSD goes north, USDCHF will continue to go south, for only a serious pullback on EURUSD can bring a meaningful rally on USDCHF. CHF is expected to become strong this month; plus the resistance level at 1.0000 would endeavor to impede rallies in the market. It would be difficult for a strong rally to take place.  

Dominant bias: Bullish
GBPUSD made attempt to go upwards last week, but further upwards movement was rejected at the distribution territory at 1.2700. From there, price got corrected by over 200 pips, to close above the accumulation territory at 1.2450 on Friday. An upward movement from here would save the recent bullish bias, while a downwards movement from here would render the bullish bias invalid. Generally, GBP pairs are supposed to trend seriously upwards this month.  

Dominant bias: Bearish
The current bias on this currency trading instrument is bearish, because price has been trending downwards since the beginning of this year. Price has come down more than 500 pips since January, and it is approaching major demand levels. The demand levels at 112.00 and 111.00 could be tested on breached, temporarily. There is a strong possibility that JPY pairs would rally this week (most probably within Monday to Wednesday), and should that happen, USDJPY would rally seriously.  

Dominant bias: Neutral  
The bias on this cross pair is essentially neutral, though there are bearish signals in small timeframes. The neutral bias can be ended by the expected rally on JPY pairs, which would also carry this cross pair along. Price might temporarily reach the demand zones at 121.00, 120.50 and 120.00. On the other hand, a serious rally would push price upwards by a minimum of 200 pips this week.  

This forecast is concluded with the quote below:

“Don't let another year go by where you aren't inspired to cash in on everything the markets have to offer.” – Louise Bedford



Buy and sell Neteller here; get funded quickly:

Start your journey to permanent success: 


  1. Quantum Binary Signals

    Get professional trading signals sent to your mobile phone daily.

    Start following our signals right now & gain up to 270% a day.

  2. If you want your ex-girlfriend or ex-boyfriend to come crawling back to you on their knees (no matter why you broke up) you have to watch this video
    right away...

    (VIDEO) Get your ex back with TEXT messages?

  3. eToro is the ultimate forex trading platform for beginning and advanced traders.


The default minimum deposit amounts are: $100 for Micro accounts, $500 for Pro-Managed accounts, and $2,000 for Pro accounts However, an optional "suggested deposit amount" parameter may be used.