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Weekly Trading Forecasts on Major Pairs (May 16 - 20, 2016)

Discussion in 'Technical Analysis' started by Currency Expert, May 14, 2016.

  1. Currency Expert

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


    Dominant bias: Bearish

    This pair simply moved sideways in the first few days of last week – a result of deadlock between bulls and the bears. On May 12, 2016, the bears were pummeled and forced to give way, as price moved south vividly, just as it was mentioned in the last forecast. Further southward movement is anticipated this week, because USD is supposed to gain strength versus a number of major currencies, like AUD, CAD, NZD; with EUR included.


    Dominant bias: Bullish

    As it was forecasted before, USDCHF managed to go upwards last week, in spite of desperate opposition from bears. The bullish movement last week was not up to 100 pips. Price is now around the resistance level at 0.9750 (below our targets for last week). The targets at 0.9800 and 0.9850 are still valid: Bulls would push the market upwards, plus price could even go beyond those resistance levels.


    Dominant bias: Neutral

    GBPUSD was caught in an equilibrium phase throughout last week, save the slight dip that was witnessed on Friday. In the past several days, price has not been able to stay above the distribution territory at 1.4500 or below the accumulation territory at 1.4350. A breakout is imminent this week, which would favor bears because USD could gain some stamina this week. However, GBP would make some gains against other currencies, especially AUD and NZD, since the outlook on them is bearish for this week.


    Dominant bias: Neutral

    USDJPY moved upwards on Monday and Tuesday, and then consolidated for the rest of last week. Since this pair, just like most other pairs, did not experience strong movement last week, the bias on it has turned neutral in the short-term. However there is a probability of tour de force this week, which could trigger a significant movement on USDJPY, driving it above the supply level at 110.50 or below the demand level at 107.50.


    Dominant bias: Neutral

    The initial bullish gains that were seen on the first few days of last week were forfeited as a result of a bearish movement that occurred in the last few days of the week. There is a considerable degree of uncertainty surrounding this cross at the moment. But a major determinant of the movement for this week would be conditions affecting Yen, for it to rally or lose strength. Those conditions would also have impact on other JPY pairs.

    This forecast is concluded with the quote below:

    “Too often, people fail to differentiate wins that come from the market and wins that come from skill.”- Jack Schwager

    Source: www.tallinex.com
  2. farhan khan

    farhan khan New Member

    Apr 4, 2016
    Likes Received:
    Epic Research News Updates : Asian market opened higher led by advances in the energy sector, after overnight gains in oil prices pushed US stock higher. Domestic markets started the day on a positive note and a strong rally can be seen.

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