ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

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

Share On Facebook
share on Linkedin
Print

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: Tallinex.com

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

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Comments are closed

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com