Weekly Trading Forecasts On Major Pairs (May 12 – 16, 2014) – General Forex Questions & Help

Here’s the market outlook for the week:

EURUSD

Dominant bias: Bullish

The dominant bullish bias still exists in this market, but it is seriously under threat.

The price attempt to reach the resistance line at 1.4000 failed, and the price got corrected significantly. Should price test the support line at 1.3800 or cross it to the downside, then the bullish bias would be rendered completely useless. Until that happens, it might be assumed that the price could rally i.e. if it could maintain its presence above the support level at 1.3800.

USDCHF

Dominant bias: Bearish

The outlook here is bearish, though the situation looks very precarious. The bulls have been very active recently: the bears have been subjugated and they need to prevent the price from remaining above the resistance level at 0.8800. The inability of the price to fall back below the aforementioned resistance level would result in the bearish outlook being rendered invalid. The invalidation would be especially strong when the price succeeds in challenging the resistance level at 0.8850.

GBPUSD

Dominant bias: Bullish

The bullish bias is still in place, but the price has been unable to cross the distribution territory at 1.7000 to the upside. In fact, the price has been consolidating to the downside for the past few days. The accumulation territories 1.6900 and 1.6850 have a job to do – they have to prevent the price from slashing though them and closing below them successively. This is the only thing that can keep the dominant bias intact. As long as the price is unable to breach those accumulation territories to the downside, it could be expected that price would rally from this point.

USDJPY

Dominant bias: Bearish

The recent equilibrium phase on this currency trading instrument has resulted in a slow southward propensity. However, the pair has met a great challenge at the demand level of 101.

50. The demand level has been tested several times, but there is a need for the price to breach it to the downside so that the southward move could continue.

EURJPY

Dominant bias: Bearish

The sudden weakness in the Euro has resulted in a Bearish Confirmation Pattern in the chart. Short trades are currently recommended. The cross should be trading below the price zone at 140.50, as it goes towards the price zone at 140.00. On the other hand, there might be some short-term rally from the aforementioned demand level.

This forecast is concluded with the quote below:

“People ask me when I’m going to retire, well… I actually have retired. This [trading] is the most under-worked and overpaid occupation in the world.”- Chris Tate

Weekly Trading Forecasts On Major Pairs (May 19 – 23, 2014) – General Forex Questions & Help

Here’s the market outlook for the week:

EURUSD

Dominant bias: Bearish

This currency trading instrument has been bearish since last week. From a high of 1.3993, the price dropped by over 340 pips, reaching the support line at 1.3650. The support line has brought about a temporary halt in the bearish journey. This halt resulted in an upward bounce that has taken the price above the support line at 1.3700. The support line at 1.3750 should act as a barrier to further rally in the context of a downtrend. The bearish journey is supposed to continue when the price breaks the support line at 1.3650 to the downside, targeting another support line at 1.3550.

USDCHF

Dominant bias: Bullish

The current upward move has been the strongest trending move on the USD/CHF since April 2014. From a low of 0.8700, the price skyrocketed by over 250 pips, topping at the resistance level of 0.8950. There has been a short-term pullback which has been challenged at the support level of 0.8900. In case of more determined bears’ machination, the pullback could also be challenged at the support level of 0.8850. Generally the price ought to go further upwards, breaking the resistance level at 0.8950 to the upside as it goes towards another target at the resistance level at 0.9050.

GBPUSD

Dominant bias: Bearish

The pair gave way to gravity as well: it went down toward the accumulation territory at 1.6750 before the price experienced some shallow rally. The rally is seen as a temporary thing in the context of a downtrend. It is something that allows the bears to sell short at a better price. The next target is at another accumulation territory of 1.6650, which could be reached within the next several trading days.

USDJPY

Dominant bias: Bearish

There is a confirmed bearish outlook on this market, though the bearish run is not as strong as other JPY pairs. There is also a recalcitrant demand level at 101.50. This demand level has succeeded in rejecting further bearish move – it did that last week and this week. The price needs to breach the demand level to the downside and close below it, for the bearish outlook to continue o be valid.

EURJPY

Dominant bias: Bearish

This cross is in a downtrend and it is currently challenging the demand zone at 139.00. The demand zone has a high probability of being breached to the downside. When this happens, the price could target another demand zone at 138.00.

This forecast is concluded with the quote below:

“With the changes in the perception of Forex trading from being a high speed, high risk gamble, to being a scientifically driven investment vehicle, supported by social media, there are likely to be many more Forex traders in the coming years.” – Razi Hammouda

Weekly Trading Forecasts On Major Pairs (June 16 – 20, 2014) – General Forex Questions & Help

Here’s the market outlook for the week:

EURUSD

Dominant bias: Bearish

In a slow and tardy manner, this pair has been trending downwards. The movement is tardy because consolidation phases can be perceived in the market; yet it can also be clearly seen that the bears dominate the market. There is a shallow rally at the moment, which ought to be contained at the resistance lines of 1.3600 and 1.3650 respectively. This is necessary for the bearish trend to continue, because any movement above the resistance line would mean the end of the bearish bias.

USDCHF

Dominant bias: Bullish

It is expected that this currency trading instrument close above the strong psychological resistance level at 0.9000. This is a must – for the bullish outlook to continue to be valid. The market breached the resistance level several times this week and last week, but it is was unable to stay above it. This inability to close above the resistance line or go southward has led to a recent sideways movement. This is what would happen eventually: should the price fail to close above the resistance level at 0.9000 and go further towards the resistance level at 0.9050, another strong bearish bias would start. The USD may not reach parity with the CHF as soon as we think.

GBPUSD

Dominant bias: Bullish

There has been a significant upwards surge on this market. The price was bullish last week, and it experienced serious volatility earlier this week. From the accumulation territory at 1.6750, the Cable rallied by more than 240 pips. The distribution territory at 1.7000 is thus an easy target. This is a great psychological zone, and should the price succeeded in closing above it, the next target would be the accumulation territory at 1.7100. However the possibilities of pullbacks along the way cannot be ruled out.

USDJPY

Dominant bias: Bearish

The USD/JPY has become bearish, going downwards from the supply level 102.50. The current rally in the price may be another opportunity to sell short; provided the rally does not take the price above the supply level at 102.50. Should the price go further southward, it might reach the demand levels at 101.50 and 101.00.

EURJPY

Dominant bias: Bearish

This is also a bear market. The price has bounced up from the demand zone at 138.00, but this is supposed to be limited. The price may soon fall downwards again, testing that support zone, even breaking it to the downside.

This forecast is concluded with the quote below:

“Sometimes we needed a little bit of luck, but if we followed the strategy, we were more likely to come out on top.” – Lee Sandford

Weekly Trading Forecasts On Major Pairs (June 23 – 27, 2014)

Here’s the market outlook for the week:

EURUSD

Dominant bias: Bullish

Within the last few weeks, the EUR/USD broke below the support line at 1.3550, but it was unable to stay below it. Eventually, the price rose seriously, closing above the support line at 1.3600. This price action has resulted in a Bullish Confirmation Pattern, and the price is expected to go more northward. The aforementioned support line would serve as a challenge to any possible bearish plunge along the way.

USDCHF

Dominant bias: Bearish

After a long desperate siege at the resistance level of 0.9000 (which is a great psychological level) and desperate battle between the bulls and the bears, the bulls gave way and the price plunged smoothly. The plunge has resulted in a Bearish Confirmation Pattern in the market. This means that it is no longer logical to place long trades in this market. It is possible that the price would continue to go southward, eventually reaching the support level at 0.8850. One important thing must be noted: the possibility of the price going further southward is stronger than the possibility of the price going northwards. Therefore, any rallies – no matter how strong – would meet a recalcitrant challenge at the resistance level of 0.9000. At that level, the bullish soldiers fought cut-throat battle but suffered heavy losses, so it would continue to act as an impediment to the bulls’ wish.

GBPUSD

Dominant bias: Bullish

Unlike the USD/CHF which failed to break the resistance level at 0.9000 to the upside after a long siege, the Cable was successful in breaking the accumulation territory at 1.7000 to the upside. It closed above that territory and moved further upwards, testing the distribution territory at 1.7050. The distribution territory is an easy target that would be breached to the upside, paving way for more northward movement.

USDJPY

Dominant bias: Bullish

This market is bullish, but the bulls’ strength is constantly challenged. In fact, the market needs to stay above the demand level at 101.50 for the bullish bias to continue to be valid. Otherwise, the already weak bullish bias would be rendered totally invalid. In order for the bias to be relevant, the market needs to go further upwards, breaking the supply level at 102.50 to the upside, and closing above it.

EURJPY

Dominant bias: Bullish

Since last Monday, this cross has been rejecting bearish pulls on it. The successful rejection has resulted in a bullish signal in the market. As long as the price stays above the demand zone at 138.50, the bullish signal would make sense.

This forecast is concluded with the quote below:

“Performance is more about me than my system.” – Adam Jowett

Weekly Trading Forecasts On Major Pairs (June 30 – July 4, 2014) – General Forex Questions & Help

Here’s the market outlook for the week:

EURUSD

Dominant bias: Bullish

This pair is now in an uptrend, though the movement is tardy and shaky. The price has been very volatile as the bulls and the bears fight for control. As a result of the Bullish Confirmation Pattern in the market, it is more likely that the pair would go further upwards. The resistance line at 1.3650 was tested and it could be tested again. It could even be breached to the upside.

USDCHF

Dominant bias: Bearish

The USD/CHF has also been slow and tardy, but bearish in outlook. So far, the market has been able to maintain its bearish bias, going lower in a slow and steady manner. This downward move is also riddled with high volatility. Since the sellers have supremacy here, there is a possibility that the price may reach the support level at 0.8900.

GBPUSD

Dominant bias: Bullish

Here, the barrier to further northward movement remains the distribution territory at 1.7050. The distribution territory was tested last week vigorously. It was tested this week as well; and up till now the price is yet to close above it. After suffering a transient setback, the price is now trying to go upwards to challenge the distribution territory again, which must be broken eventually, for the bullish outlook to hold onto its validity.

USDJPY

Dominant bias: Bearish

On the USD/JPY, it is advised that short-term orders should be considered rather than long-term ones. This is because the recent signals have been short-lived. Right now, there is a bearish indication in the market: it makes sense to seek short trades.

EURJPY

Dominant bias: Bearish

The recent ‘buy’ signal on this cross was weak and unsustainable. The bias has turned bearish because of the perceived strength in the Yen. The EUR’s position is too delicate, and this is quickly reflected in its weakness against the Yen. The price tested the demand zone at 138.00; and with renewed bearish effort, it could go lower to test the demand zone at 137.00.

This forecast is concluded with the quote below:

“It is the sum of all trades that is relevant for the trading result, not the single trade.” – Jens Klatt

Weekly Trading Forecasts On Major Pairs (July 7 – 11, 2014) – General Forex Questions & Help

Here’s the market outlook for the week:

EURUSD

Dominant bias: Bearish

The recent bias on this pair was bullish, but everything has now gone bearish. It is no longer sensible to seek long trades on this pair because it has failed to break the resistance line at 1.3700 to the upside. In addition, the price has dived by almost 100 pips, trading below the resistance line at 1.3650. The support line at 1.3600 is currently being tested and there is a high probability that it could easily be breached to the downside. Should this become possible, the price may go further downwards to the support line at 1.3550.

USDCHF

Dominant bias: Bearish

It should be noted that, although the dominant bias on this currency trading instrument is bearish, the price has been making serious bullish attempts. The bullish attempts are so strong that they threaten the bearish bias. For the bearish bias not to become completely invalid, the rally would need to be rejected at the resistance level of 0.8950. Any movement above that resistance level would render the bearish bias completely invalid, since things would have turned seriously bullish by then. However, it is not likely that the price would be able to cross the great resistance level at 0.9000 to the upside in the long run.

GBPUSD

Dominant bias: Bullish

This market has been able to remain bullish, breaking one distribution territory after the other. The price territory at 1.7150 was breached to the upside after much struggle and hesitation which lasted for a few days. The price is now poised to move further upwards, and it may reach another distribution territory at 1.7200 next week.

USDJPY

Dominant bias: Bullish

The USD/JPY is bullish, although there is now some southward correction in the market. The southward correction cannot render the bullish outlook useless, as long as it does not take the price below the demand level at 101.50. Any movement below the aforementioned demand level would result in clean bearish outlook.

EURJPY

Dominant bias: Bullish

The condition on this cross is very delicate, and one may do well to stay out of the market until there is a convincing directional movement. The price is bullish but the sudden weakness in the EUR makes it illogical to seek long trades at the present. The possibility of the price testing the demand zone at 138.50 cannot be ruled out.

This forecast is concluded with the quote below:

“You want to be paid to trade. Winnings are your payment for taking risk.” – Jos Ross

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Weekly Trade Forecasts for Key Couples (July 21-25, 2014) General Forex Questions and Help

Here are the market outlook for the week:

EUR USD

Dominant trend: bearish

The prevailing trend for this week has been the same for the last week – it is unchanged. The downward trend in the market is now particularly strong and could continue as such. The price could reach the support levels of 1.3500 and 1.3450 within the next trading days. In the meantime, there are potential rallies related to the downtrend that could push the price towards the resistance levels at 1.3550 and 1.3600 respectively. These resistance levels should pose a serious obstacle to rallies that could invalidate the bearish trend.

USDCHF

Dominant trend: bullish

Contrary to what EUR / USD is doing, this pair is in an uptrend. It is currently trading at 0.8950 above the support level and should continue to move higher after the current flat retracement in the market. However, the high resistance level at 0.9000 is very unlikely to be broken up, and therefore the bulls may want to take their gains at that level. Should the price exceed the resistance level at 0.9000 and successfully close above it, this would mean the continuation of the persistence in the market and the continuation of the bullish trend.

GBPUSD

Dominant trend: bullish

This foreign exchange trading instrument has been able to maintain its recent optimistic outlook, although it is currently unable to move higher in a significant mode. The inability to go higher in a significant mode has also led to a great risk that the price will slide down. In fact, any move below the 1.7050 accumulation area would mean that the optimistic outlook has become completely useless. So that the optimistic outlook does not become useless, the price must remain above this accumulation area and better rise again.

USDJPY

Dominant trend: bearish

The market is still able to maintain its downward trend. as a result of strength in the yen. The bearish outlook is expected to continue, although the situation may not be material for other JPY pairs. The level of demand at 101.00 should at least be tested.

EURJPY

Dominant trend: bearish

The weakness of this cross, caused by the weakness of the euro against the strength of the yen, has led to a clean bearish confirmation pattern. The price is expected to continue to decrease, although the likelihood of temporary rallies and consolidations cannot be ruled out in this way.

This forecast is concluded with the following quote:

"Some of the best-known hedge fund managers are known as qualified risk takers from an early age." – Bruce Bower

Frequency of sitemap change – daily versus weekly

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Make sure that you keep your update frequency for individual posts (which do not change significantly) at "Never" or at most "Year". Based on our experience, I recommend setting this to "NEVER" for large websites (blogs, forums) with hundreds of thousands of posts (pages) that change rarely or never.

Weekly Trade Forecasts for Key Couples (April 7-11, 2014) General Forex Questions and Help

Here are the market outlook for the week:

EUR USD

Dominant trend: bearish

The pair has remained bearish lately and is slowly and steadily going down. The chart contains a bearish confirmation pattern and if selling pressure persists, the price would easily test the support line at 1.3650. Should this support level be broken below, the next target would be the support line at 1.3600. The resistance levels at 1.3750 and 1.3800 should serve as good barriers to possible rallies.

USDCHF

Dominant trend: bullish

There has been a bullish signal for this currency trading instrument since March 20, 2014, and the price has risen over 150 pips. The confirmed bullish trend is expected to continue, particularly with an increase in USD persistence. The market could hit the resistance level at 0.8950. It should be noted that the level of resistance has already been tested: the market would test it again and possibly break through upwards.

GBPUSD

Dominant trend: bearish

The GBP was found to be weak against some major currencies, so it comes as no surprise that it assumed a bearish outlook against the USD. The previous flat price movement has led to a bearish run. The market is now trading below the sales area at 1.6600, which means that the price could move towards the accumulation area at 1.6500. This is our goal for the week.

USDJPY

Dominant trend: bullish

An upward trend on the market has been expected since March 21. This market has really risen and rigorously tested the level at 104.00, but has failed to lower and close above. Historically, the bullish signal could continue until April 10, 2014. There is currently a downward correction in the graphics. The correction would be seen as a good chance to buy long, provided the price is not pushed below the 103.00 demand level.

EURJPY

Dominant trend: bullish

Like the USDJPY and other JPY pairs, this cross was generally bullish. The possibility of corrections cannot be excluded; because the prices don't move in straight lines. However, the current southward correction of the market is strong enough to jeopardize the established bullish trend. The bullish trend is considered valid as long as the price can remain at 141.00 above the demand zone.

This forecast is concluded with the following quote:

"Did you notice that the most difficult trades to be emotionally done often turn out to be the best trades?" – Sam silk