Daily analysis of major pairs for March 30, 2015

The Cable moved only sideways throughout last week, with neither the bull nor the bear gaining an upper hand. As long as the bull and the bear seem to have equal stamina, the sideways movement can continue – until there is a rise in momentum which could cause an imbalance in the market. The imbalance will most probably favor the bull.

EUR/USD: On Friday, March 27, 2015, this pair closed at 1.0887, on a slight bullish note. The bias is still bullish while there are support lines at 1.0750 and 1.0700. Moreover, there are resistance lines at 1.1000 and 1.1050. There must be a break above the resistance lines or below the support lines, for the trend to continue in favor or against the bull.

USD/CHF:  In spite of some visible effort by the bull, to push the price upwards. This is a bear market. The only thing that can render the bearish outlook useless is an event that causes the price to go above the resistance level at 0.9800 first, and then 0.9850 later. Should the current weakness in the USD continue, the price could retest the support line at 0.9500, which was tried last week.

GBP/USD: The Cable moved only sideways throughout last week, with neither the bull nor the bear gaining an upper hand. As long as the bull and the bear seem to have equal stamina, the sideways movement can continue – until there is a rise in momentum which could cause an imbalance in the market. The imbalance will most probably favor the bull.

USD/JPY: This is currently a weak currency trading instrument. There is a clean Bearish Confirmation Pattern in the market and the demand level at 118.50 could be tested. On the other hand, some weakness in the Yen is expected this week or next week, which may cause this instrument to rally eventually.

EUR/JPY: The situation on this cross is dicey and on would need to wait to know the next price action before taking a position. The bullish gain that was realized last week has nearly been forfeited, but a possible rally might cause the recent bullish outlook to become more significant.

Performed by Azeez Mustapha,

Analytical expert

www.instaforex.com    

InstaForex Companies Group

Learn from the Generals of the Markets: http://www.amazon.co.uk/Learn-Generals-Market-Azeez-Mustapha/dp/1908756314

Weekly Trading Forecasts on Major Pairs (March 30 – April 3, 2015)

Here’s the market outlook for the week:

EURUSD

Dominant bias: Bullish

EURUSD, which has been making some bullish attempt since a few weeks ago, is now above the support line at 1.0850. On the downside, there are support lines at 1.0800 and 1.0700. On the upside, there are resistance lines at 1.1000 and 1.2000. It is expected that price will oscillate between the resistance line at 1.2000 and the support line at 1.0700 in the week. Only a significant movement will make price go above that resistance line or below that support line.

USDCHF

Dominant bias: Bearish   

This pair remains bearish in spite of some faint attempts by the bulls, to halt the situation. There are support levels at 0.9450 and 0.9400. There are also resistance levels at 0.9750 and 0.9800; plus price is supposed to move to and fro between the resistance level at 0.9800 and the support level at 0.9400. There must be a very strong momentum in the market before price can breach that resistance level to the upside or that support level to the downside.

GBPUSD

Dominant bias: Bearish

The movement on Cable for the last week was flat, and should the market remain flat for this week, the overall bias would turn neutral. The recent bias is bearish and the current price action shows a serious tug of war between the bull and the bear. For the price to move seriously (to go out of balance), either the bull or the bear must dominate, for price will remain flat as long as the bull and the bear appear to have equal strength. Whether this week or next week, there would be a rise in momentum, which may force the price below the accumulation territory at 1.4750 or above the distribution territory at 1.5050. However, it is more likely that Cable would rally, meaning that the expected increase in the momentum will likely favor buyers.  

USDJPY

Dominant bias: Bearish    

USD/JPY is currently weak. Price tested the demand level at 118.50 last week and it could even test another demand level at 118.00. However, there is a possibility that there would be a bullish breakout this week or next week, especially on an occasion of a serious weakness in Yen.  

EURJPY

Dominant bias: Bullish

The bias on this cross is bullish and it may continue to be bullish on the condition that it does not go below the demand zone at 128.50. Any bullish continuation this week may enable this cross to reach the supply zones at 131.00 and 131.50. Generally, some weakness is expected in JPY (this week or next week), and this may allow some JPY pairs to rally. 

This forecast is concluded with the quote below:

“The markets always offer opportunities, but to capture those opportunities, you MUST know what you are doing. If you want to trade these markets, you need to approach them as a trader, not a long-term investor.” – Dr. Ken Long

Source: www.tallinex.com

Learn from the Generals of the Markets: http://www.amazon.co.uk/Learn-Generals-Market-Azeez-Mustapha/dp/1908756314

Lan Turner: Turning a Simple Trading Idea Into Millions

INSIGHTS INTO THE MINDSET OF SUPER TRADERS – Part 1

“Many would-be traders are afraid to take the profession seriously. They dream of making huge riches, but they aren't willing to put in the time and effort to make their dreams come true.” – Joe Ross

Name: Lan Turner

Date of birth: February 5, 1964

Nationality: American 

Website: Lanturner.com

Career:

Lan Turner is a proficient public speaker, publisher, and an author. Being a professional stocks, futures and Forex trader, he’s had more than two decades of experience in financial indsutry. Lan is renowned for  his seminars and trading ideas, having presented them in the US and other countries. He’s the founder and CEO of Gecko. For many years, he taught finance at Utah State University. He designed Track ‘n Trade and Trade Miner in 1998. He’s also the president of PitNews Press and editor-in-chief of PitNews Magazine.

Insights:

1. Success in other fields doesn’t automatically translate to success in trading. Lan was successful as a distributor of computer hardware, and when he first invested his money the markets, he made substantial gains. He thought he was good until he lost almost all the money. No matter you level of education or the kind of job you’re doing, you still need to learn the art of trading because it’s a different world entirely.

2. Gamblers lose their money right away or first gain money before they lose it all. When gamblers make money, they think they’re good just before the markets prove them wrong. Good traders may also lose money before they make money (or make money before they lose money), but they make gains and losses based on their trusted trading methods. In addition, the losses have minimal effects on their portfolios while the profits make their account grows; though not be leaps and bounds, but slowly and gradually.

3. When the going was tough, Lan didn’t quit because he discovered he loved trading. You can’t last long in the markets if you don’t love trading with passion.

4. If you’ve become a success trader, how can you help others to become successful? How can you help other avoid the pitfalls that affected you badly in the past? Lan has found his secrets to success in the markets and he’s doing his best to help other become successful through his products and services. Honestly, his products and services are among the best in the trading industry. Please check his website in order to benefit from those products and services.

5. There are trading concepts and principles that work. Some of them may already be known by you or some of them may come to you as a surprise. The knowledge you’ve is useless unless you use it to improve your life – hence your trading results. Lan Turner is an exponent of recurring trends and market cycles, which are genuine and powerful. For example, if you can know that USDJPY tends to rally within certain period of every year, with about 80%, 90%, 95% or even 100% accuracy, for the past 10, 12, 14, or more years, you can take advantage of that knowledge.  This is one simple idea that can be used to make millions/billions in the markets when used properly and applied to other trading instruments.

Conclusion: It’s sensible to take the right position in the right market, otherwise, things mayn’t go as expected. Doing that is like we’re aware that a farmland is infested with rodents, yet we plant peanuts in it. We need trading methods that ensure everlasting safety of our portfolios. We want to take trades based on the seasonal trends that have proven dependable in the past. Although past results aren’t indicative of future results, they can give us the best insight into the future. We wouldn’t want to speculate based on the things that have proven to be flops in the past.

This piece is ended with a quote from Lan:

“If I only knew then, what I know now! Stop trying to reinvent the wheel, just use what works!”

Source: www.tallinex.com

Learn from the Generals of the Markets: Market Generals

A Break from the Norm

Breaking free from the usually dreary and cryptic anthology… welcoming entertaining, simple, easily-understood and provocative poetry…

See three samples below:

(65) VACANCIES

An applicant called today

Dressed well but looked hopeless

Credentials filled his bag,

But he left as he came.

Vacancies in newspapers,

Vacancies on posters,

Vacancies on the web,

Vacancies on the air.

Vacancies that do not exist,

Vacancies have been filled,

Vacancies from fraudsters

That hoodwink the helpless.

The use of long arms,

Or the use of connections,

Or the use of kickbacks

Is not always effective.

Passing exams is battle,

Going to college is war,

Getting good jobs is futile,

And some jobs need no degrees.

An applicant called today

But his objective failed.

He left only papers,

Will he go on like this?

Ben Alani (November 2007)

(105) SOLDIER ANTS

…We shall all enemies batter,

…we shall all obstacles scatter,

…we shall all do that matter,

…we shall make our ranks fatter

For our future gather

 The food-gathering for generation latter

There are many reasons to gather

 Tomorrow may be nothing but water,

And many humans madder

 So, to bite them, we are gladder –

With a million teeth harder.

 Explore for a safer haven

Meanwhile a myriad

 Insect and animals fall prey,

To our battalions and commandos –

…And we shall make our ranks fatter,

…we shall all do that matter,

…we shall all obstacles scatter,

…we shall all enemies batter,

…we shall all enemies batter,

…we shall all obstacles scatter,

…we shall all do that matter,

…And we shall make our ranks fatter.

For our future gather

  Till there’s nothing for human madder

Our ranks move forward

 Ruthless reckless restless

As we search the Promised Land,

 Ruthless reckless restless

As we act with one accord

 Ruthless reckless restless

As our youngs’ future counts

 Ruthless reckless restless

As our adversaries scramble –

…And we shall make our ranks fatter,

…we shall all do that matter,

…we shall all obstacles scatter,

…we shall all enemies batter.

(Ben Alani, 2009)

(107) A BUFFALO DIES IN A TOWN

A buffalo dies in a town

Where there’s no knife

To those who know not their values

Opportunities flash themselves

A buffalo dies in a town

Where there’s a need for meat

By they don’t recognize that

The dead buffalo is a bundle of meat –

Opportunities come as a curse

Peace often disguises as disappointments

Prevention from worst experiences comes as delays

A buffalo dies in a town

Where they prefer to look for meat in the desert

Acres of diamonds – acres of diamonds

What we have we never appreciate

A buffalo dies in a town

Where it’s left to rot and waste

We take no advantage of opportunities

A buffalo dies in a town

Where residents are complacent and sluggish

On the other side the grass is always greener

Conwell’s Acres of Diamonds! – There’s no pity

For the rich man’s child

Who’s overpampered and ungrateful

To create wealth is better

Than to inherit it

A buffalo dies in a town

Where things are taken for granted

But tough times make people

Tough, self-reliant and resilient

More than being garrulous and loquacious

Actions do matter

Strengthening those persevering

On the earth

The courage to face the odds

In the world

And prove themselves by their effort.

(Ben Alani, 2009)

The rest of the 108 poems can be seen here:

A Break From the Norm: http://bamboonaija.com/products/a-break-from-the-norm-by-ben-alani

Annual Trading Forecast on Nokia (2015)

Nokia shares (NYSE:NOK) have formed what I can call a predictable channel in the market. Based on the price action for the past several months, one would need to use a swing trading approach for this market, selling at the peak and buying at the trough.

The indicators in the chart are currently nothing to go by. The ADX period 14 is below the level 20, while the DM+ is closely parallel with the DM- (there is no clear signal). The MACD default parameters, also gives a signal that is contrary to what the ADX is showing – both its histogram and signal lines are below the zero line.

It is better to stay away from this market, unless one is a short-term trader. This market is not currently favorable to position traders and investors. In future, a break below the support line at 7.00 would mean a great bearish continuation while a break above the resistance line at 9.0 will also mean a great bullish continuation. By then, there would have been a clean Bearish or Bullish Confirmation Pattern in the market.

It is an exaggeration to say that something is unprecedented.

This forecast is ended by the quote below:

“Feelings that come up during trading and life all have positive intentions. Successful people recognize these feelings, see their positive intention and address them proactively. Successful traders address frustrating losing positions by exiting them.” – Mike Melissinos

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals

Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha