Subscribe to RSS

Weekly Trading Forecasts on Major Pairs (October 26 – 30, 2015)

Here’s the market outlook for the week:

EURUSD

Dominant bias: Bearish  

This pair traded in a tight range from Monday to Wednesday and then broke out southwards on Thursday. The southward break was strong enough to cause a new bearish outlook on EURUSD (plus most other EUR pairs), which would continue for the rest of this month.   Last week, price fell 350 pips, testing the support line at 1.1000. That support line is a psychological level – a breach of it to the downside would result in further southward movement.

USDCHF

Dominant bias: Bullish

In most cases, the movement on USDCHF is largely determined by whatever happens to EURUSD. As long at the latter had stamina in it, the former was under bearish pressure. As soon as EURUSD broke down, USDCHF skyrocketed, rising from the support level at 0.9500; with price almost reaching the resistance level at 0.9800. This is a movement of roughly 300 pips, and it has resulted in a Bullish Confirmation Pattern in the market. Further upward journey is expected this week: The resistance levels at 0.9850 and 0.9900 are potential targets.

GBPUSD

Dominant bias: Bearish   

There is a bearish signal on GBPUSD, owing to its inability to trend upwards.  All previous northward attempts were foiled at the distribution territory of 1.5500, which is now a major barrier to the bulls. The bias on this market can never be bullish as long as price is under the distribution territory at 1.5500. In the last few trading days, price made a bearish move, now very close to the accumulation territory at 1.5300. Unless the distribution territory at 1.5500 is breached to the upside, short positions are recommended.

USDJPY

Dominant bias: Bullish    

As it was mentioned in the last week forecast, there has been an end to the recent equilibrium phase on USDJPY, which lasted for several weeks. One of the conditions for the end of the equilibrium phase has been met: A close above the demand level at 121.00. The current bullish journey began on October 15, but it was not counted as been significant until price closed above the demand level at 121.00, almost testing the supply level at 121.50. USDJPY now looks sexy (attractive) to swing and position traders. Price should continue its bullish journey for the rest of the month (even beyond October 2015).

EURJPY

Dominant bias: Bearish

This cross initially made a faint bullish movement in the first few days of last week, as price moved above the supply zone at 136.00. However, the sudden loss of stamina in EUR caused the cross to tumble. The cross dived smoothly, reaching the demand zone at 133.50. The cross would find it difficult to rally when EUR remains very week, unless JPY itself becomes weaker than EUR. There is still some hope of JPY pairs strengthening before the end of this month.

This forecast is concluded with the quote below:

“Sit down, observe the markets and go trading!”  – Marko Graenitz

Source: www.tallinex.com

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

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

115% Classic Bonus and $30 Welcome Bonus – RoboForex

115% Classic Bonus and $30 Welcome Bonus – RoboForex(0)

Up to 115% Classic Bonus Promotion and 50% Tradable Deposit Bonus to All RoboForex New and existing clients. 50% Tradable bonus from RoboForex is the type of bonus, which is not cancelled when the equity on your account is below the amount of the bonus funds Link:  $30 Welcome Bonus Promotion Link:  50% Tradable Bonus

Receive 25% Free Credit Bonus on your First Deposit – HYCM

Receive 25% Free Credit Bonus on your First Deposit – HYCM(0)

Get your forex trading off to a flying start. Sign up today and receive 25% Free Credit Bonus on your first deposit. The maximum trading credit bonus awarded under this promotion is US$5,000 Link: 25% Free Credit Bonus on your First Deposit Available to: All new clients Bonus Offer: Sign up today and receive 25%

60% Withdrawal Holiday Deposit Bonus – FXCL Markets

60% Withdrawal Holiday Deposit Bonus – FXCL Markets(0)

60% Withdrawal Holiday Deposit Bonus to All new and existing clients. The 60% Withdrawal Holiday  Deposit Bonus limit is $2,000 per trader. Link: 60% Holiday Withdrawal Bonus Available to: All new and existing clients Bonus Offer: 60% Withdrawal Holiday Deposit Bonus to All new and existing clients The bonus limit is $2,000 per trader. The

Up to 250% Exclusive Trading Credit Bonus – InstaForex

Up to 250% Exclusive Trading Credit Bonus – InstaForex(0)

InstaForex Exclusive Bonus Promotions is unparalleled on the market and gives a matchless opportunity to receive a Exclusive Bonus Promotions in the range of 30% to 250%. Making use of any kind of bonus, you can bump up your live trading account balance after depositing. Link:  Get 250% Bonus for First Deposit Link:  $500 Forex

New Promo-Action Free No Deposit Bonus $50 – FortFS

New Promo-Action Free No Deposit Bonus $50 – FortFS(0)

New Promo-Action Free No Deposit Bonus 50 USD to all New and Existing Traders. For Every Traders who passed the verification process in their traders room can get the $50 Free No Deposit Bonus Promotion Link:  $50 Forex No Deposit Welcome Bonus Link:  500 USD cents Forex No Deposit Bonus Link:  Up to 50% Bonus

Get 500 Cent Forex No Deposit Welcome Bonus – FortFs

Get 500 Cent Forex No Deposit Welcome Bonus – FortFs(0)

Get 500 Cent Forex No Deposit Welcome Bonus 2018-2019 to All New Traders. Open a forex real trading account, pass the personal data verification procedure and get the 500 Cent Free Forex Welcome Bonus! Link:  Up to 50% Bonus of Every Deposit Link:  500 Cent Forex No Deposit Bonus Link:  15% Support Margin Bonus Available

read more

Forex Featured Broker

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