Weekly trading analysis by Tallinex

[analyst100]

Weekly Trading Forecasts for Major Pairs (March 19 - 23, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Neutral
The market is generally, neutral. It initially made bullish effort last week, reaching the resistance line at 1.2400, and then retraced towards the south. Price is now below the resistance line at 1.2300, going towards the support lines at 1.2250 and 1.2200. Any rallies could be contained at the resistance line at 1.2400. There will not be much movements across the markets this week. However, next week will witness a strong volatility.

USDCHF
Dominant bias: Bullish
In the medium-term, this market is bullish. Since the support level at 0.9200 was tested in February 16, 2018, price has rallied by over 300 pips, closing above the support level at 0.9500 on Friday. There is a tendency for the market to continue going upwards, especially when EURUSD shows signs of further weakness. Thus the resistance levels at 0.9550, 0.9600 and, ultimately 0.9650, could be reached this week.

GBPUSD
Dominant bias: Neutral
Cable has become neutral, particularly since a few weeks ago. Last week, price rose above the accumulation territory at 1.3900, and then moved sideways throughout the week. There is a distribution territory at 1.4050, which must be broken to the upside, for a bullish bias to form. There is also an accumulation territory at 1.3800, which must be broken to the downside, to form a bearish bias.

USDJPY
Dominant bias: Bearish
Since January 8, 2018, this trading instrument has dropped 750 pips, testing the demand level at 105.50 several times. Price has not been able to stay below that demand level, but that does not rule out the possibility of testing it again. The demand level at 105.50 would offer a stiff resistance to further bearish movement. That means a strong selling pressure would be needed for the demand level to be breached to the downside. Otherwise, a rally will surface.

EURJPY
Dominant bias: Bearish
The market has been in a vivid bearish mode since February 2. The demand zone at 129.50 was tested, and further bearish movement was restricted. A period of consolidation and bullish attempt were witnessed, but price is currently pointing southwards, now close to the demand zone at 130.00, which would be breached to the downside as price goes towards another demand zone at 129.50, where bears will encounter fierce opposition.

GBPJPY
Dominant bias: Bearish
From the low of March 2, price has risen by roughly 450 pips. However in the past few days, price has been coming downwards gradually. Further downwards movement could result in confirmation of a new bearish outlook. There are demand zones at 147.00, 146.50 and 146.00. The demand zone at 146.00 may do a good job in preventing more southwards journey. A very strong rally is expected before the end of this week.

This forecast is concluded with the quote below:

“Good trading times may be just ahead. Are you ready? It's times like these when the right mental edge can make all the difference…. It's vital that you approach trading with the proper mindset. Be ready to work hard and do whatever it takes to come out a winner. You can trade profitably if you put in the time and effort. Think optimistically, work hard, and take home the profits!” – Joe Ross

Source: www.tallinex.com

 

[analyst100]

Weekly Trading Forecasts for Major Pairs (March 26 - 30, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Neutral
This pair has consolidated so far this month. Price has been ranging between the support line at 1.2250 and the resistance line at 1.2450. This week may see an end to the neutrality of the market, as price would either move above the resistance line at 1.2450 (staying above it); or it would move below the support line at 0.2250 (staying below it). However, a strong movement to the south is much more likely this week, owing to a bearish outlook on EUR pairs.

USDCHF
Dominant bias: Bullish
In the short-term, this pair is bullish. Since the support level at 0.9200 was tested in February 16, 2018, price has rallied by over 350 pips, moving briefly above the resistance level at 0.9550. The market has been corrected lower since then, closing below the resistance level at 0.9500. A rally from here would save the bullish bias; while a plunge from here would render it invalid. Nonetheless, the market is more likely to go upwards as a result of a bearish outlook on EURUSD.

GBPUSD
Dominant bias: Bullish
The bias on GBPUSD has become bullish again, for price went upwards by 250 pups last week. Even the movement this month has been largely bullish (price has gained a minimum of 400 pips). The distribution territory at 1.4200 was tested, but price closed below the distribution territory at 1.4100 on Friday. There is a Bullish Confirmation Pattern the market, which points to a possibility of further bullish journey, as price targets the distribution territories of 1.4150, 1.4200 and 1.4250. This, nevertheless, cannot rule out a possibility of a strong pullback in the market. GBP pairs will experience high volatility this week.

USDJPY
Dominant bias: Bearish
The pair traded southwards last week, to corroborate the presence of bears. Since January 8, 2018, price has lost 830 pips. It lost 170 pips last week, after testing the supply level at 106.50. Since there is a huge Bearish Confirmation Pattern in the market, price can still reach the demand levels at 104.50, 104.00 and 103.50 before the end of this week. A rally may occur along the way, but it should not be something that would override the extant bearish outlook on the market.

EURJPY
Dominant bias: Bearish
Although the market is choppy, the bearish trend has been maintained. Price has been going southward since February 5, having lost almost 800 pips since then. Last week, there was a rally attempt in the context of an uptrend, which was halted once the supply zone at 131.50 was tested. The market shed 250 pips following that, to test the demand zone at 129.00, and closed below the supply zone at 129.50. The expected weakness in EUR, as well as the bearish outlook on the market, may enable the demand zones at 129.00, 128.50 and 128.00 to be tested this week.

GBPJPY
Dominant bias: Bearish
The cross is bearish in the long-term, but neutral in the short-term. This is a choppy market: An abortive bullish attempt was made last week, but that was rejected as the supply zone at 150.00 was tested. Price came down after that, thus cancelling the short-term effect of the bullish attempt. This week, there may not be any rallies that will cancel the existing bearishness in the market. Price could go further southwards, but it is not expected to go below the demand zone at 145.00, which is the ultimate target for the week.

This forecast is concluded with the quote below:

“Volatility is good for trading… Volatility can and should be used to a trader’s advantage. It all comes back to understanding and believing in your trading system.” - Jasper Lawler

Source: www.tallinex.com

 

[analyst100]

Weekly Trading Forecasts for Major Pairs (April 2 - 6, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Neutral
The market went upwards last week, to test resistance line at 1.2450; a level from which a bearish correction was experienced. Price came down to test the support line at 1.2300, and then closed just above it. While the current bias on the market is neutral, it is expected that a rise in momentum will happen before the end of this week, which would most probably favor bearish, because the outlook on EUR pairs is strong bearish for the week.

USDCHF
Dominant bias: Bullish
This bias on this pair is bullish – but it is currently not a strong bias. Since testing the support level at 0.9200 (February 16), price has managed to gain about 360 pips. Last week, it managed to stay briefly above the resistance level at 0.9550, after which it closed below it again. A rise in the market is expected this week, which would also be fueled by weakness in EURUSD. The resistance levels at 0.9550, 0.9600 and 0.9650 could be reached before the end of the week.

GBPUSD
Dominant bias: Neutral
GBPUSD is bearish in the short-term, but neutral in the long-term. Last week, price nearly reached the distribution territory at 1.4250, after which it dived towards the accumulation territory at 1.4000. The outlook on GBP pairs is bearish for this week. However it is strongly bullish for April. While the general movement is expected to be upside in April, some selling pressure would be witnessed this week, which could propel price towards the accumulation territories at 1.4000, 1.3950 and 1.3900.

USDJPY
Dominant bias: Bearish
The trading instrument is bearish in the long-term, and bullish in the short-term. There is a Bullish Confirmation Pattern in the market, at least on a short-term basis. Price rose 220 pips last week, to test the supply level at 107.00, and then retraced below the supply level at 106.50. The supply level at 107.00 has thus become a major barrier for any bullish effort, as price goes downwards towards the demand levels at 106.00, 105.50 and 105.00.

EURJPY
Dominant bias: Bearish
This cross is bearish in the long-term, and rather neutral in the short-term. Price is currently choppy as things are now in a range. There is a supply zone at 132.00 and a demand zone at 130.00. As long as price saunters between these two zones, the short-term neutrality will hold. There is a higher probability that price will go southwards (in agreement with the long-term outlook) when a breakout does occur.

GBPJPY
Dominant bias: Neutral
The market is choppy and without direction, although the long-term bias is bearish. In March, what generally happened could be called a rally in a context of a downtrend, as price moved from the demand zone at 145.00, to reach the supply zone at 150.50. The outlook on JPY pairs is bearish for this week, and for this month, which means long trades are not recommended (except in a very short-term context). There will be great volatility on JPY pairs, which would most probably favor bears.

This forecast is concluded with the quote below:

“It’s not about the system, it’s about the trader’s ability to execute the system.” - Curtis Faith

Source: www.tallinex.com

 

[analyst100]

Technical Reviews for Gold and Silver (April 2018)

GOLD (XAUUSD)
Dominant Bias: Neutral
The market bias is neutral in the long-term and bearish in the short-term. Since February 2018, price has been ranging (whereas December 2017 and January 2018 were bullish). However, going short-term, price dropped sharply in the last week of March, and made a rally attempt on April 3, only to get corrected lower on the following day. Given the current price action, a movement to downside is much more likely than a movement to the upside, when a breakout does occur. There is a strong supply barrier at 1360.00, which has been the major supply zone within the last two months. The demand zones at 1320.00 and 1310.00 would likely be tested this month.


SILVER (XAGUSD)
Dominant Bias: Neutral
Silver is also neutral in the long-term and bearish in the short-term, just like Gold. Price has been consolidating since February; whereas December 2017 and January 2018 were bullish. In a smaller time horizon, last week was bearish, plus this week, whose bearishness follows an abortive effort to effect a rally. A closer observation of the market behavior in the last several weeks reveals that bulls are getting weaker, and thus, bears would take advantage of this by pushing price lower and lower, towards the support levels at 16.2000, 16.1000 and 16.0000. Should this happen, the precarious Bearish Confirmation Pattern in the market would become stronger.


Source: www.tallinex.com

 

[analyst100]

Weekly Trading Forecasts for Major Pairs (April 9 - 13, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
The pair is bearish in the short-term, which is still a weak bias. Price went downwards last week, moving briefly below the support line at 1.2250, and closing above it on Friday. There are resistance lines at 1.2300, 1.2350 and 1.2400. Things will go bullish when the resistance line at 1.2400 is breached to the upside. There are support lines at 1.2250, 1.2200 and 1.2150. Things will go strongly bearish when the support line at 1.2150 is breached to the downside.


USDCHF
Dominant bias: Bullish
The market remains bullish in the short-term (and its fate is largely subject to whatever happens to EURUSD). Price went upwards last week, almost reaching the resistance level at 0.9650, and then getting corrected lower. The short-term bullishness will be rendered ineffectual only when price goes below the support level at 0.9500. On the other hand, a movement above the resistance level at 0.9700 will result in a stronger bullish bias on the market.

GBPUSD
Dominant bias: Neutral
The market is neutral because there was no significant directional movement last week. Price hovers between the distribution territory at 1.4200 and the accumulation territory at 1.3900. Price would need to go above that distribution territory or below the accumulation territory, for a directional bias to form, but that would require a big momentum to happen. A possibility of a movement to the upside is very strong because the outlook on GBP pairs is very bullish for this week. Therefore a rally is likely in the market.

USDJPY
Dominant bias: Bearish
The trading instrument is bearish in the long-term, and bullish in the short-term. In the short-term, price gained 180 pips from the low of last week, reaching the supply level at 107.50. Then there was a slight bearish correction in the market, which would eventually turn out to be an opportunity to buy long at better prices. A rally is very likely this week, which would push price upwards by 200 pips. This movement would be strong enough to override the long-term bearishness in the market.


EURJPY
Dominant bias: Bearish
This cross is bearish in the long-term, and rather neutral in the short-term. Another reality is that the market condition is currently choppy, but that might come to an end when a rally occurs in the market. There is a strong likelihood of a rally here, owing to a bullish expectation on JPY pairs for this week. The supply zones at 131.50, 132.00 and 132.50 could be reached when a bullish movement begins.


GBPJPY
Dominant bias: Bullish
GBPJPY cross remains bullish, especially in the medium-term. The market gained roughly 500 pips on March and it has gained over 200 pips this month, closing above the demand zone at 150.50 on Friday. There is a Bullish Confirmation Pattern in the market, and thus, price is expected to continue going upwards this week, reaching the supply zones at 151.00, 151.50 and 152.00. The supply zone at 152.00 could even be exceeded.

This forecast is concluded with the quote below:


“You have what it takes to be a great trader! You may know this already or you may be curious to find out if you really do have what it takes.” – VTI

Source: www.tallinex.com

 

[analyst100]

Weekly Trading Forecasts for Major Pairs (April 16 - 20, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Neutral
Irrespective of the bullish attempt that was witnessed last week, the outlook on EURUSD remains neutral. The neutrality has been ongoing for over 2 months, and the bullish attempt that happened last week pales into insignificance when compared to the overall outlook on the market. Price currently oscillates between the support line at 1.2200 and the resistance line at 1.2400. There is a going to be a directional bias once that support line or that resistance line is breached. However, a breach of the support line at 1.2200 is much more likely.


USDCHF
Dominant bias: Bullish
There is some form of bullishness in this market. Since the support level at 0.9200 was breached on February 16, price has moved upwards by 440 pips, closing above the support level at 0.9600 on Friday. This week is supposed to be bullish, because USD will likely gain some stamina against certain currencies like EUR, CHF, AUD and NZD (with the exception of GBP). The first object of attack this week is the resistance level at 0.9650.


GBPUSD
Dominant bias: Bullish
The market gained 220 pips last week, almost reaching the distribution territory at 1.4300, and getting corrected lower, to close below the distribution territory at 1.4250. There is a Bullish Confirmation Pattern in the market, and price is supposed to go seriously upwards again, breaching the distribution territories at 1.4250, 1.4300 and 1.4350 to the upside. Short trades are not yet recommended.

USDJPY
Dominant bias: Bearish
The trading instrument is bearish in the long-term, and bullish in the short-term. There is a weak short-term bullishness owing to the fact that price made some effort to go upwards last week, gaining only 80 pips. Price managed to briefly breach the supply level at 107.50, but it could not close above it on Friday (it closed below it). However, price would be able to go above the supply level at 107.50; even reaching other supply levels at 108.50, 109.00 and 109.50.


EURJPY
Dominant bias: Bearish
This cross is bearish in the long-term, and now bullish in the short-term. It has gained roughly 250 pips this month, and it can gain another 250 pips before the end of the month. That is something that can bring about a long-term bullish outlook on the market as it goes through the supply zones at 133.00, 133.50 and 134.00, even exceeding those supply zones as price goes further and further northwards.

GBPJPY
Dominant bias: Bullish
There is a Bullish Confirmation Pattern in the market. The market gained roughly 500 pips in March and it has gained over 400 pips this month, closing above the demand zone at 152.50 on Friday. The outlook on GBP/JPY and most other JPY pairs, remains bullish for this week. The price is expected to reach the supply zones at 153.00, 153.50 and 154.00: the targets that could even be exceeded.

This forecast is concluded with the quote below:

“The markets never reward desperation. They only reward clear thinking, discipline and courage.” – Louise Bedford

Source: www.tallinex.com

 

[analyst100]

Weekly Trading Forecasts for Major Pairs (April 23 – 27, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Neutral
The bias is neutral in the long-term term, and bearish in the short-term. Price went southwards last week, losing up to 130 pips, after testing the resistance line at 1.2400. The support line at 1.2250 was almost tested, but price closed close to the resistance line at 1.2300. Owing to the short-term bearishness in the market, further southwards journey is anticipated, which may push price towards the support lines at 1.2250, 1.2200 and 1.2150.


USDCHF
Dominant bias: Bullish
The Bullish Confirmation Pattern in this market was partly brought about by the anticipated stamina in Greenback. Since testing the support level at 0.9200 on February 16, price has gained 550 pips (gaining 220 pips in this month alone), closing around the resistance level at 0.9750 on Friday. Price should continue going further upwards as EURUSD is pushed further southwards. The resistance levels at 0.9800 and 0.9850 are the targets for this week.

GBPUSD
Dominant bias: Bearish
The Cable consolidated in the first week of April, went upwards in the second week, and came downwards heavily in the third week (last week). After testing the distribution territory at 1.4350, price has nosedived by 350 pips, reaching the accumulation territory at 1.4000, and closing slightly below it. The bias on the market has now turned bearish, and that may be upheld this week, as the accumulation territories at 1.3950, 1.3900 and 1.3850 are aimed.

USDJPY
Dominant bias: Bearish
The trading instrument is bearish in the long-term, and bullish in the short-term. After price rammed into the demand level at 105.00 on March 23, it has gone upwards by 280 pips since then. Price closed above the demand level at 107.50 on Friday and it may even reach the supply levels at 108.00 and 108.50 this week…. Before the anticipated reversal occurs. The reversal may be strong enough to take price towards the demand level at 107.50.


EURJPY
Dominant bias: Bullish
This is a bull market in the near-term, but the bullishness in the market is very weak. Price did almost nothing last week, save some consolidating movement throughout the week. The consolidation may continue this week, but a breakout is imminent, which would most probably favor bears. Thus, the demand zones at 132.00, 131.50 and 131.00 could be reached, which may effectively challenge the recent bullishness in the market.

GBPJPY
Dominant bias: Bearish
There is now a Bearish Confirmation Pattern in the market, which was forcefully brought about by the large pullback that occurred in the market. Roughly 280 pips were shed as price closed below the supply zone at 151.00 on April 20, 2018. It is expected that further southward movement would play itself out this week, because the outlook on JPY pairs is somewhat bearish for the week. This means the accumulation territories at 150.50, 150.00 and 149.50 would be reached easily.

This forecast is concluded with the quote below:

“Accept that you can trade, it really isn’t as cognitively difficult as people make out. It is emotionally and psychologically difficult but it doesn’t require much brain power despite what you may be told. Therefore, it is within the realm of most to be able to understand the basics of trading.” – Chris Tate


Source: www.tallinex.com

 

[analyst100]

Weekly Trading Forecasts for Major Pairs (April 30 – May 4, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This pair experienced a strong bearish movement last week, dropping 230 pips, and nearly reaching the support line at 1.2050. However, price closed above the support line at 1.2100, and that might be a good opportunity to sell short at a better price, for price may continue going downwards this week, because USD keep on being strong. The support lines at 1.2100, 1.2050 and 1.2000 are the next targets. EUR pairs will also experience strong volatility in May.


USDCHF
Dominant bias: Bullish
This trading instrument went upwards last week (gaining 150 pips). Over 300 pips have gained in the last two weeks, and this is just the beginning, because the northwards journey would continue as a result of the stamina in USD. The resistance level at 0.9900 has been tested and it would be tested again, and get breached to the upside. That is when price would target additional resistance levels at 0.9950, and ultimately 1.0000.

GBPUSD
Dominant bias: Bearish
GBPUSD shed 250 pips last week, and it has shed more than 600 pips since April 17. There is a huge Bearish Confirmation Pattern in the market, which portends possibility of further southwards journey. The accumulation territories at 1.3750, 1.3700 and 1.3650 could be reached before the end of the week. The accumulation territory at 1.3750 was tested last week, and it would be tested again this week, for the outlook on GBP pairs remains bearish. GBP pairs will also experience high volatility in May.

USDJPY
Dominant bias: Bullish
Price started rallying last month, and it rallied considerably last week. The bias on the market has thus turned completely bullish as price neared the supply level at 109.50, and it is now close to the demand level at 109.00… However, price may not be able to go protractedly upwards again, because there is a very strong bearish outlook on JPY pairs for this week, and for May 2018. Long positions should be liquidated because bulls will suffer seriously in May.

EURJPY
Dominant bias: Bullish
This cross did not made any strong directional movement last week. Price made a weak bullish effort on Monday and Tuesday, consolidated on Wednesday and then got a bearish correction on Thursday and Friday. Although the ongoing bias is bullish, bulls are obviously getting weaker and weaker, showcasing their lack of interest in pushing price upwards. The recent bearish correction may eventually turn out to be something significant. A large movement is expected on EURJPY in May, and it would mostly favor bears.

GBPJPY
Dominant bias: Bearish
Just like EURJPY, albeit in a significant mode, this cross pair made a clear bullish effort on April 23 and 24, then ranged on April 25; only to dip on April 26 and 27. The dip on April 27 was strong enough to enforce a formation of a Bearish Confirmation Pattern in the market. Given the weakness in GBP and a bearish outlook on JPY pairs (Yen would become strong), this cross would continue to go further southwards, reaching the demand zones at 150.00, 149.50 and 149.00 this week.

This forecast is concluded with the quote below:

“What you need is the safety of a detailed trading plan: specific guideline to follow. Making a plan follows the wisdom of any job being 80% preparation and only 20% execution. The more clearly the plan is laid out, the easier it is to follow. And when the plan is easy to follow, it's likely that you'll stick with it. You'll be disciplined and in control of your emotions and thought processes.” – Andy Jordan (Source: Tradingeducators.com)

Source: www.tallinex.com

 

[analyst100]

Technical Reviews for Gold and Silver (May 2018)

GOLD (XAUUSD)
Dominant Bias: Bearish
In the first half of April, Gold made some visible bullish attempt. However, price came downwards noticeably in the second half of that month. Generally the market is very choppy… It has been coming down since last week, and May was started on a bearish note. Since there is a Bearish Confirmation Pattern in the market, the resistance levels at 1300.00, 1250.00 and 1200.00 would be reached this week. As the market is quite choppy and volatile, some transitory spikes, rallies and gap-ups could be experienced in May, but bears would win ultimately.


SILVER (XAGUSD)
Dominant Bias: Bearish
Silver is bearish in the short-term and the medium-term. Just like Gold, it went upwards within roughly the first two weeks of April and then came downwards in the last two weeks of the same month. Over 6,000 pips were shed last week, and this week has already seen a loss of additional 4,500 pips, as price reached a low of 16.0484. There has been a recent temporary upwards bounce in the market (while a Bearish Confirmation Pattern is present in it). The upwards bounce could end up being another opportunity to sell short at slightly higher prices, because price would come downwards in May, reaching the demand level at 16.0000 and possibly exceeding it southwards.


Source: www.tallinex.com

 

[analyst100]

Weekly Trading Forecasts for Major Pairs (May 7 - 11, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
EURUSD went downwards by 170 pips last week. It has gone downwards by 430 pips since April 19. There is a Bearish Confirmation Pattern in the market and it is supposed to continue going lower and lower, reaching the support lines at 1.1900, 1.1850 and 1.1800. USD is supposed to continue being strengthened, and so long trades are not currently recommended, until it is clear there is a change in the market.


USDCHF
Dominant bias: Bullish
This pair has normally been going upwards as EURUSD is going downwards. Price has gained over 800 pips since February 16 (it gained 130 pips last week). The great psychological level at 1.000 has eventually been reached and a lot of activity has started around that level, as bears are struggling to prevent bulls from pushing price above the level. However, bulls will eventually win the struggle, and enable price to stay above the psychological level at 1.0000, as another resistance level at 1.0050. The USD reigns.

GBPUSD
Dominant bias: Bearish
Since testing the distribution territory at 1.4350 on April 17, Cable has nosedive, shedding 850 pips since then (including 250 pips that were shed last week). Price tested the accumulation territory at 1.3500 on Friday, but closed above it. The outlook on GBP pairs is bearish for this week, and thus Cable should continue its downwards exploration, reaching the accumulation territories at 1.3500, 1.3450 and 1.3400.

USDJPY
Dominant bias: Bullish
The bias on the market is bullish, but the trend is in a precarious position. Price did not go upwards significantly last week, neither did the bearish correction that followed help the matter. Once the supply level at 110.00 was tested, price got corrected by 100 pips, moving briefly below the demand level at 109.00 and then closing above it on Friday. Since the bullish bias is in a precarious situation, any movement below the demand level at 108.00 will result in a clear bearish signal. A movement to the downside is very much likely this week.

EURJPY
Dominant bias: Bearish
This trading instrument has dropped by 300 pips since April 26. Roughly 250 pips were shed last week, owing to the weakness in EUR and a show of energy in JPY. There is a huge Bearish Confirmation Pattern in the market, and price is expected to continue going southwards, owing to the bearish outlook on JPY pairs this week. The demand zones at 130.00, 129.50 and 129.00 would be reached.

GBPJPY
Dominant bias: Bearish
A very weak GBP has met a strong JPY, and the result was that price went out of balance, in favor of bears. There is a huge drop in the market (nearly 300 pips), as the demand zone at 147.00 was nearly tested. There is a bearish outlook on this cross, and further southwards journey is expected. There could be transitory upwards bounces in the market, but they would serve as good short-selling opportunities.

This forecast is concluded with the quote below:

“(Good) Trading happens outside your comfort zone… What I love about trading is the ongoing challenge and it makes me happy to know that I’m competing against some of the brightest minds on earth in the markets. They do what works.” - Marco Mayer


Source: www.tallinex.com