Subscribe to RSS

Weekly Trading Forecasts on Major Pairs (November 23 – 27, 2015)

Here’s the market outlook for the week:

EURUSD

Dominant bias: Bearish  

EURUSD did not make any serious directional movement last week, for what was seen was slow short-term movements to the upside and downside (and they were nothing significant). On Friday, price closed at 1.0645, highlighting the ongoing weakness in the pair. There is a possibility that the support lines at 1.0600 and 1.0550 might be tested; otherwise a strong bullish breakout could take price towards the resistance levels at 0.0700 and 0.0750.

USDCHF

Dominant bias: Bullish

This pair moved upwards 150 pips last week, reaching the resistance level at 1.0200, which is our suggested target for the last week. Nonetheless, price was unable to go above that resistance level, and this week would see whether that feat would be achieved. In case the resistance level is overcome successfully, the pair could move further upwards by another 150 pips. Failure to achieve this could result in a bearish correction, though it seems unlikely that the great support level at 1.0000 would be breached to the downside now.

GBPUSD

Dominant bias: Bearish   

In the context of a downtrend, Cable made a noteworthy bullish attempt – even going temporarily above the distribution territory at 1.5300. This upwards bullish attempt later proved to be a bogus “buy” signal because bears came in and pushed price back to the level it was at beginning of last week. Further downward movement is a probability, plus the bearish bias would hold out as long as price is unable to go above the distribution territory at 1.5300, (and staying above it).

USDJPY

Dominant bias: Bullish    

This market consolidated throughout last week, though there was no price action that suggested the end of the extent bullish bias. Should the consolidation continue this week without a directional bullish movement or bearish movement, then the bias on the market would turn neutral. One thing has been noted: Some pairs and exotic crosses have begun trending strongly and this could extend across the FX markets, including USDJPY.

EURJPY

Dominant bias: Bearish

This currency trading instrument went further south last week, closing below the supply zone at 131.00, just in conjunction with the ongoing weakness in the market. The southward movement last week was not a serious thing, but price could still go further south. On the other hand, the hope of bullish JPY pairs has not been lost for this month. In case the Yen loses stamina versus other currencies, EURJPY could be enabled to trend upwards.

This forecast is concluded with the quote below:

“Brilliant traders are being made today, and if you shelter without taking action, your next few years could be wasted. Leaps in skill development occur when tests are presented. Smooth sailing doesn’t prepare the sailor. It is challenges that focus the mind like no other.” – Louise Bedford

Source: www.tallinex.com

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

Get 100% Bonus Promo Doubles your Deposit – FBS

Get 100% Bonus Promo Doubles your Deposit – FBS(0)

Get 100% Forex Bonus Doubles your Deposit FBS Broker has prepared something really special for you. Activate 100% Forex Deposit Bonus and make your trading x2 more efficient Link:  $50 Free Will be credited to Your Account Link:  $88.8 Forex No Deposit Bonus Link:  $123 Forex No Deposit Bonus Link:  100% Forex Deposit Bonus Promotion

Free SERENITY Tokens for Forex Trading – Grand Capital

Free SERENITY Tokens for Forex Trading – Grand Capital(0)

Get free SERENITY tokens for forex trading on ECN Prime and/or Standard account. SERENITY Free tokens can be used to pay for Serenity Financial platform services or sold on an exchange after the ICO ends. The nominal price of 1 token is 0.1 ETH. Link:  Free SERENITY Tokens for Trading Link:  444% Profit Receive for

Trading Signals and get your opportunity to succeed – FXTM

Trading Signals and get your opportunity to succeed – FXTM(0)

Take advantage of ForexTime Free Forex Trading Signals and get your opportunity to succeed. Get Free Forex Trading Signals prepared by ForexTime professional analysts Link:  FREE trading signals Special Promo Link:  Start Copy Trading your Perfect Partner Link:  $25 Per Referral Earn up to $10000 Link:  Receive $30 Tradeable Credit Free Bonus Link:  Demo Forex

Get 100% Bonus Trusted and Regulated Broker – AvaTrade

Get 100% Bonus Trusted and Regulated Broker – AvaTrade(0)

Register and forex start trading now and claim your 100% Deposit Bonus minimum fund of $100 for first deposit. Just for new customer we welcome you with some fantastic 100% Bonus Offers Link:  100% Bonus to Your First Deposit Link:  35% New Accounts Bonus Promotion Link:  Advantages of Trading Bitcoin Cash Available to: All new

Win-Win Live Trading Forex Contest – Tickmill Ltd.

Win-Win Live Trading Forex Contest – Tickmill Ltd.(0)

Holiday 2017 season is just around the corner and Tickmill is rewarding you with real Bitcoin prizes and rebates. Win-Win Live Trading Forex Contest ensures there is a prize for everyone! Link:  Win-Win Forex Live Trading Contest Link:  Weekly Demo Race Trading Contest Link:  $30 Free Welcome Bonus Offer Link:  Forex Monthly Live Trading Contest

$3500 Forex No Deposit Bonus, Risk Free Trading‎ – InstaForex

$3500 Forex No Deposit Bonus, Risk Free Trading‎ – InstaForex(0)

Get $3500 No Deposit Free Bonus from InstaForex no need to risk your own money if you have already got funds to earn more money. The $3500 No Deposit Bonus from InstaForex is an exciting opportunity to start live trading. Link:  Up to $5000 No Deposit Free Bonus Link:  $500 Forex No Deposit Free Bonus

444% Profit Receive for a Single Trade – Grand Capital

444% Profit Receive for a Single Trade – Grand Capital(0)

Up to 444% Profit receive with our new Express Options for Grand Capital Binary Option Broker Ltd. Make a correct prediction for 3 assets at the same time Link: Up to 444% Profit Receive for a single trade Link:  $500 Forex No Deposit Welcome Bonus Link:  40% Forex Welcome Deposit Bonus Available to: All new

Receive $30 Credit Bonus for Trusted  Broker- FXTM

Receive $30 Credit Bonus for Trusted Broker- FXTM(0)

Switch to ForexTime and receive $30 Trading Credit Bonus. Join the hundreds of thousands of traders around the world who have already chosen ForexTime as a broker and receive $30 Trading Credit Bonus as a thank you for switching. Link:  Up to $200 Cash Bonus this December Link:  Receive $30 Tradeable Credit Bonus Link:  FX

15% Support Margin Bonus and $50 Free Bonus – FortFS

15% Support Margin Bonus and $50 Free Bonus – FortFS(0)

15% Support Margin Bonus Plus $50 No Deposit Bonus to all New and Existing Traders. For Every Traders who passed the verification process in their traders room can get the $50 Free Bonus Link:  $50 Forex No Deposit Welcome Bonus Link: Up to 50% Bonus of Every Deposit Link: 15% Support Margin Bonus As from

Get $34 Forex No Deposit Bonus Contest – Xtream Forex

Get $34 Forex No Deposit Bonus Contest – Xtream Forex(0)

Sign-Up and Get $34 Forex No Deposit Bonus Contest Enjoy Forex Trading Without Deposit. Grab your $34 Forex No Deposit Bonus and start your live Forex trading to win big cash prize. Link: $34 Forex No Deposit Bonus Contest Available to: All new clients Forex $50 No Deposit Bonus Contest Duration? Registration is open till

read more

Forex Featured BrokerSocial Trading

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories