1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Weekly Trading Forecasts on Major Pairs (March 21 - 25, 2016)

Discussion in 'Technical Analysis' started by Currency Expert, Mar 19, 2016.

  1. Currency Expert

    Feb 14, 2014
    Likes Received:
    Here’s the market outlook for the week:


    Dominant bias: Bullish

    From Monday till Wednesday, this pair moved south. Price broke upwards on Wednesday as it rose significantly by 280 pips that day and on Thursday. On Friday, price got corrected lower a bit, closing at 1.1269. However, the outlook on EUR is bearish for this week, and bulls would experience serious difficulties in pushing price further upwards. This weakness could also be witnessed on other EUR pair like EURCAD and EURNZD.


    Dominant bias: Bearish

    Last week, USDCHF took a serious battering as prognosticated, given what also happened to USDCAD, EURUSD, GBPUSD, NZDUSD, AUDUSD, etc. After consolidating from Monday to Wednesday, price dropped like a stone on Wednesday and Thursday, testing the support level at 0.9650. While further southward moved is not ruled out, the situation could change this week, especially in the case of EURUSD, for USDCHF might rally considerably when EURUSD trends downwards seriously.


    Dominant bias: Bullish

    Cable was subjected to strong movements last week. From Monday to Wednesday, price dipped by 320 pips, later to rise on the same day. Within Wednesday and Thursday, price went upwards 440 pips. But bulls have met a stubborn opposition at the distribution territory of 1.4500; they could not push the price beyond that accumulation territory. Should bulls succeed in pushing price beyond 1.4500, the next targets would be the distribution territories at 1.4550 and 1.4600. There are also probabilities of pullbacks along the way.


    Dominant bias: Bearish

    USDJPY, which was quite choppy in the last few weeks, gave in to gravity last week. Price dropped by 300 pips, ramming into the demand level at 111.00. Although there is a clean Bearing Confirmation Pattern in the market, price could rally this week. After all, price has been unable to close below the demand level at 110.00 as it bounced off that level. JPY pairs are expected to rally this week, and USDJPY may not be an exception. So it is rational to assume that the bearish journey that occurred last week simply paved way for the bullish journey that could occur this week.


    Dominant bias: Bullish

    This cross consolidated throughout last week, not moving significantly upwards or downwards. This bullish outlook is still somewhat valid despite the ongoing consolidation, though a breakout is imminent this week. When a breakout occurs, it would most probably favor bulls, because the outlook on JPY pairs is bullish for this week. Traders are advised not to trade against JPY pairs this week.

    This forecast is concluded with the quote below:

    “We hope your January through February proves to be profitable. After one more month, March, you can evaluate your quarterly trades to make adjustments. If adjustments are necessary, make sure that they align with your trading plans.”– Tradingeducators

    Source: www.tallinex.com
  2. farhan khan

    farhan khan New Member

    Apr 4, 2016
    Likes Received:
    Epic Research market view for 25 April 2016 : Index will be consolidated while Midcaps are expected to outperform. The Indian rupee slipped in the early trade. It has opened lower by 16 paise at 66.65 per dollar versus 66.49 Friday.

Share This Page