Weekly trading analysis by Tallinex

[robert.miner]

Yes, they are like suicide if not using stop loss. Better to minimize your lost than lost all your money.

 

[analyst100]

Weekly Trading Forecasts for Major Pairs (July 2 – 6, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
The market is bearish, but price was not able to go downwards seriously last week. Thus the market is bearish in the long-term, but neutral in the short-term. A strong opposition was particularly met at the support line at 1.1550, after which price bounced off the support line. However, that would turn out to be an opportunity to go short at a better price, for the outlook on EUR pairs is bearish for this week. One major task for bears is to break the support line at 1.1550 to the downside, as price goes further downwards.


USDCHF
Dominant bias: Neutral
The bias on this pair has become neutral, especially in the face of the fact that USDCHF was characterized by trendlessness throughout June. Last week, price went upwards, to move above the resistance level at 0.9950, and then moved below that resistance (now close to the support level at 0.9900). As long as EURUSD remains weak, there will not be a significant bearish movement on USDCHF pair this week (although the pair will eventually give way to bearish pressures before the end of July).

GBPUSD
Dominant bias: Bearish
The market went smoothly downwards, testing the accumulation territory at 1.3050 (over 200 pips of bearish movement). After testing the accumulation territory at 1.3050, price rallied seriously and closed above the accumulation territory at 1.3200. The outlook on GBP pairs is bearish for this week, so a movement towards the accumulation territories at 1.3200, 1.3150 and 1.3100 are highly anticipated. There could even be a movement below the accumulation territory at 1.3100.

USDJPY
Dominant bias: Bearish
A Bullish Confirmation Pattern is present on the USDJPY. In the short-term, price rallied from the demand level at 109.50, to close above the demand level at 110.50 on Friday. This week, there could be further upwards movement towards the supply levels at 111.00 and 111.50. However, price is not expected to go further upwards than that because the outlook on certain JPY pairs is bearish for the month of July.

EURJPY
Dominant bias: Bearish
This cross is bearish in the long-term, and bullish in the short-term. In short-term, a movement above the demand zone at 129.00 has resulted in a ‘buy” signal, which could enable price to reach the supply zones at 129.50 and 130.000, However, any movement to the upside would be limited, partly because of the ongoing weakness in EUR, which means price could also be retraced lower before the end of this week.

GBPJPY
Dominant bias: Bearish
Owing to the present Bearish Confirmation Pattern in the chart, the bias on this trading instrument is bearish, but the strong bullish surge that was witnessed on Friday has posed a threat to the bearish outlook. On Thursday and Friday, price gained 250 pips, after testing the demand zone at 144.00. Should price gain another 200 pips this week, things will turn completely bullish. On the other hand, a downward movement from here would save the bearish bias.


This forecast is concluded with the quote below:


“There are opportunities… It’s a matter of seeking them out, in the biggest playground of all... the markets.” – Louise Bedford

Source: www.tallinex.com

 

[analyst100]

Technical Reviews for Gold and Silver (July 2018)

GOLD (XAUUSD)
Dominant Bias: Bearish
Gold moved sideways in the beginning of June 2018, until June 14. Since then, price has come down by roughly 6000 pips. July has been bullish so far (in the short-term), but the upwards bounce in the market has paled into insignificance when compared to the overall bearish bias on the market. A movement above the supply level at 1280.00 will threaten the bullish bias; while a movement above the supply zone at 1300.00 will invalidate it. All this upwards movement, however, requires extremely strong bullish momentum to be effective. Therefore, in the absence of any strong bullish momentum, Gold may continue its downwards movement.


SILVER (XAGUSD)
Dominant Bias: Bearish
There is a Bearish Confirmation Pattern on Silver, which is not as strong as the Bearish Confirmation Pattern on Gold. Following a few months of boring consolidation (February – May, 2018), price rallied in early June, reaching the distribution territory at 17.2000. From there, price moved downwards gradually until the end of June. In the short-term, Silver started July on a bearish note, and then rallied, and then movies sideways. The sideways movement is still in place, but it will soon be ended as price resumes its bearish journey, reaching the accumulation territories at 15.7000, 15.5000, and 15.3000. On the other hand, a strong bullish momentum will challenge this bearish outlook.


Source: www.tallinex.com

 

[analyst100]

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

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
The market is bearish in the long-term, and bullish in the short-term. Last week, after testing the support line at 1.1600, price went upwards by 150 pips, to test the resistance line at 1.1750. Price can still go further upwards towards the resistance lines at 1.1800 and 1.1850. However, a strong buying pressure is needed to reach the resistance line at 1.1850. A southwards movement from here would render this expectation invalid.


USDCHF
Dominant bias: Neutral
The market is virtually flat. Since the past two weeks, price has moved between the support level at 0.9850 and the resistance level at 1.0000. As long as price moves between the aforementioned support and resistance levels, things will remain neutral. This week, it is not likely that price would break the support level at 0.9850 to the downside; or break the resistance level at 1.0000 to the upside, because much volatility is not expected in the market this week. However, before the end of the month, a rise in momentum is expected, which would create a directional bias.


GBPUSD
Dominant bias: Bearish
GBPUSD Is bearish in the long-term, and bullish in the short-term, just like EURUSD. Since testing the accumulation territory at 1.3100, price has gone upwards by roughly 200 pips, closing above the accumulation territory at 1.3250 and aiming the distribution territory at 1.3300. Nonetheless, the major outlook remains bearish, which means the market needs to gain, at least, another 300 pips, before the bias can turn bullish.

USDJPY
Dominant bias: Bullish
Since March 26, the market has been going northwards slowly and gradually. Right now, the bullish bias is weak, although bears have not been able to push price lower significantly. There was an attempt to go south last week, after the supply level at 111.00 was tested. Price closed slightly below the supply level at 110.50, and it may go towards the demand level at 110.00, where bearish effort should be contained, just for the bullish bias to be saved.

EURJPY
Dominant bias: Neutral
This cross is bullish in the short-term, and neutral in the long-term. Some bullish effort started around the end of June, and it has been upheld till now. In the short-term, price could move upwards and downwards, within the supply zone at 131.00 and the demand zone at 128.00. Price may not be able to go beyond these boundaries because much volatility is not expected this month, unless some fundamental figure causes a radical change in the market.

GBPJPY
Dominant bias: Bullish
Since June 28, this trading instrument has been going upwards, leading to a bullish bias in the short-term (a Bullish Confirmation Pattern). Last week ended on a bullish note and it is probable that price would continue going upwards, reaching the supply zones at 147.00, 147.50 and 148.00. There would be a reversal along the way, which would, nevertheless, not be serious enough to invalidate the ongoing bullish bias.


This forecast is concluded with the quote below:


“But in trading, often the best solution is the simplest...” - Michael Carr

Source: www.tallinex.com

 

[analyst100]

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

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
In the long-term, the pair is bearish, and last week was bearish too. Price dropped by 140 pips, moved briefly below the support line at 1.1650, and then closed above it. This week, there could be a test of the support lines at 1.1650 and 1.1600, but they may not be broken to the downside because price has a high probability of going northwards, reaching the resistance lines at 1.1700, 1.1750 and 1.1800.


USDCHF
Dominant bias: Bullish
Last week, owing to a sudden surge of stamina in USD, the pair skyrocketed, reaching the high of 1.0066. The test of that high is significant because the last time price reached that level was May 2017. Since the high of the year (1.0066) was tested, price has shown a sharp reversal, shedding 60 pips and closing at 1.0002 on July 13. Price might attempt to go further upwards, but it would encounter stiff opposition around the high of 1.0066. Even there will be stiffer opposition above the high of the year, like the resistance levels at 1.0150, 1.0200 and 1.0250. Movement towards the south may be more visible this week.


GBPUSD
Dominant bias: Bearish
In the long-term, Cable is bearish, and last week was bearish too. From the distribution territory at 1.3350, price dropped by 250 pips, and almost touched the accumulation territory at 1.3100, and then closed above the accumulation territory at 1.3200. This week, there could be a test of the accumulation territories at 1.3200 and 1.3150, but they may not be broken to the downside because price has a high probability of going northwards, reaching the distribution territories at 1.3250, 1.3300 and 1.3350.

USDJPY
Dominant bias: Bullish
Last week was bullish. In fact, the market has been going upwards since March 26, and it has gained close to 800 pips. A clean bullish run has taken price towards the supply level at 112.50 and there is a lot of trading activity around that level, as bears are making attempt to effect a bearish reversal. There are demand levels at 112.00, 111.50 and 111.00. However, price could go upwards to reach the supply levels at 113.50, 114.00 and 115.00.

EURJPY
Dominant bias: Bullish
This cross has become a bull market in the medium-term. Price gained 180 pips last week (it has gained over 650 pips since May 25), and managed to closed above the demand zone at 131.00. Short trades are not recommend in this market, owing to the Bullish Confirmation Pattern in it, and owing to the bullish outlook on EUR for this week and next. Price is thus expected to continue going upwards, reaching the supply zones at 131.50, 132.00 and 132.50.

GBPJPY
Dominant bias: Bullish
GBPJPY is a volatile market, though with a Bullish Confirmation Pattern present in it. This month has been bullish so far (the bullish movement started late June and it has been upheld till now). Having gained 500 pips since June 28, there is still much room for bulls to shine. This week, another 200 pips can be gained amid high volatility. Nonetheless, this does not rule out possibility of bears overpowering bulls along the way.


This forecast is concluded with the quote below:

“You should not draw the conclusion that winning traders are reckless. They aren't. They approach trading systematically. They develop clearly defined trading plans and they trade them. They wait for market conditions that increase their odds of success. But most of all, they have a positive attitude. They know that if they do their homework and make enough trades, they will take home a profit.” – Joe Ross


Source: www.tallinex.com

 

[analyst100]

Weekly Trading Forecasts for Major Pairs (July 23 - 27, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Neutral
Price made a bullish attempt on Monday, but started coming down afterwards. The support line at 1.1600 was tested and price bounced off it, closing above another support line at 1.1700. The market is neutral, and that status will continue as long as price oscillates between the support line at 1.1550 and the resistance line at 1.1800. However, the neutrality in the market will soon end, and ensuing movement could most probably favor bulls. This means a break above the resistance line at 1.1800 is possible before the end of the week.

USDCHF
Dominant bias: Neutral
This pair also went downwards at the beginning of last week, and then rallied around the middle of the week, only to come downward again at the end of the week. Price closed below the resistance level at 0.9950, threatening to go further downwards. The bias on the market is eventually neutral, and it would remain so until the support level at 0.9850 is breached to the downside. The most probable direction is southwards.

GBPUSD
Dominant bias: Bearish
GBPUSD is a weak trading instrument. Since April 14, price has been going downwards. Price moved briefly below the accumulation territory at 1.3000, and then rallied by 170 pips, almost reaching the distribution territory at 1.3150. The bias remains essentially bearish (but perpetual bullish effort could threaten the bearish bias). There are additional distribution territories 1.3200, 1.3250 and 1.3300.

USDJPY
Dominant bias: Bullish
After testing the supply level at 113.00 several times, a bearish correction was started, which made the price close below the supply level at 111.50 on July 20 (a drop of 150 pips). The bias is bullish in the long-term, but going bearish in the short-term. Things will go completely bearish when price moves further downwards by another 200 pips, reaching the demand levels at 111.00, 110.50 and 110.00, and going further downwards.

EURJPY
Dominant bias: Bullish
The market had been going upwards since June 28 until recently. The recent bias is bullish but there is a high possibility of price going bearish. Price has made a bearish U-turn, after almost reaching the supply zone at 132.00. It is expected that price will continue to go downwards this week, thereby rendering the recent bullish bias invalid and reaching the demand zones at 130.00, 129.50 and 129.00. Those demand zones may even be exceeded before the end of July.

GBPJPY
Dominant bias: Bearish
There is a Bearish Confirmation Pattern in the market, as a result of a drop of 300 pips last week. The drop has already generated a bearish signal in the market, brought about by the perceived weakness in GBP, and the strength in JPY. This week (even till the end of July), the outlook on JPY pairs is bearish, and that means GBPJPY also will experience further bearish movement, which would enable it to reach the demand zones at 145.50, 140.00 and 135.50.


This forecast is concluded with the quote below:

“A surprising insight for me in Jack Schwager’s Market Wizards was that most of the top traders he interviewed are 1-trick ponies: they do one thing — and they do it very well. Their success was built upon their ability to discover what others overlooked. I concluded that ‘doing one thing well’ would immediately simplify my trading life and could eventually evolve one thing into an important trading edge.” – VTI

Source: www.tallinex.com

 

[analyst100]

Weekly Trading Forecasts for Major Pairs (August 20 - 24, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
The market is bearish, and price went further downwards until it reached the support line at 1.1350. Further drop was rejected around the support level and a rally effort ensued. However, the rally effort was not serious enough to threaten the recent bearish outlook on the market. There is a need for price to go further upwards by another 200 pips before the bearish outlook can be rendered ineffectual.

USDCHF
Dominant bias: Neutral
The most probable direction for this pair is southwards, once a breakout occurs in the market. Right now, the situation remains unchanged. It is interesting that the bias on USDCHF remains neutral, just as it was last week. The neutrality in the market has been existing since June 2018. Normally, USDCHF should go upwards as EURUSD goes south, but the former has chosen to remain neutral as the latter goes south, hence showing the bulls’ apathy. Should EURUSD skyrocket (something that will eventually happen) there would be a smooth bearish movement on USDCHF.

GBPUSD
Dominant bias: Bearish
Cable went slight downwards from Monday to Wednesday (in conjunction with the downtrend), and then consolidated for the rest of last week (also in the context of a downtrend). The market has shed over 400 pips this month, and there seems it has much more room to go southwards. Nonetheless, the more the market goes bearish, the higher the chances of a strong bullish reversal when it does occur.

USDJPY
Dominant bias: Bearish
In the medium-term, a bearish signal has been generated on this pair. Although the situation in the market is quite choppy, a closer look reveals that bears have upper hands right now, and thus, the market may be able to test the demand levels at 110.00, 109.50 and 109.00. But that achievement will require a very strong bearish movement in the market. Bulls are also waiting for an opportunity to effect a reversal, pronged by a favorable fundamental factor.

EURJPY
Dominant bias: Bearish
The price moved sideways last week – in the context of a downtrend. Further bearish movement this week will result in a Bearish Confirmation Pattern in the market (which has already shown its existence). The outlook on JPY pairs is currently bearish but there is also a probability of a strong bullish breakout, which may become a threat to the existing Bearish Confirmation Pattern. Whatever the case may be, a strong movement will happen this week.

GBPJPY
Dominant bias: Bearish
This cross has dropped over 640 pips this month. It only consolidated last week, while the outlook on the market remains bearish. GBP is very weak and JPY is fairly strong; thus the bearish journey will likely continue this week when a breakout does occur. The targets for bears are the demand zones at 140.50, 140.00 and 139.50, which may be exceeded with enough bearish pressure.

This forecast is concluded with the quote below:

“Profits are an obvious and natural reward for trading efforts.” – Joe Ross

Source: www.tallinex.com

 

[analyst100]

Weekly Trading Forecasts for Major Pairs (August 27 – 31, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
This pair gained a minimum of 200 pips last week, thus forming a bullish signal in the short-term. Further bullish movement is supposed to bring about a strong Bullish Confirmation Pattern, even in the long-term, as more gains are made in the market. Price would continue moving upwards this week, and bulls might target the resistance lines at 1.1650, 1.1700 and 1.1750 before the end of this week.

USDCHF
Dominant bias: Bearish
This trading instrument has become bearish in the short-term (though the market remains neutral in the long-term). Last week, the market fell by over 130 pips, in reaction to the bullish effort evident on EURUSD. Should price continue dropping more and more southwards, the long-term outlook on the market itself will become bearish. Right now, the support levels at 0.9800, 0.9750 and 0.9700.

GBPUSD
Dominant bias: Bearish
Although Cable made a faint effort to rally last week, the outlook remains bearish in the long-term. On Friday, price closed on a neutral note, but a rise in momentum is expected any day (before the end of the month); and that is expected to be in favor of bulls. Nonetheless, there is a need for price to go upwards by at least, 400 pips before the long-term bias can turn bullish. Right now, price is consolidating.

USDJPY
Dominant bias: Bullish
In the long-term and the short-term, a Bullish Confirmation Pattern is present in the market. Last week, price managed to gain 140 pips, from the weekly low of 110.00. The probability of price going northwards is higher than its probability to reverse and go seriously downwards. While there may be bearish threats along the way, USDJPY is supposed to generally go northwards this week, reaching the supply levels at 111.00, 111.50 and 112.000.

EURJPY
Dominant bias: Bullish
This cross made a significant rally last week, rising from the demand zone at 126.50, and gaining about 340 pips, before closing around the price zone at 129.50 on Friday. Bulls are still intent on pushing the market upwards – that is the expectation for this week. At least, another 200 pips would be targeted this week, as price aims at the supply zones of 130.00, 130.50 and 140.00 might be reached this week.

GBPJPY
Dominant bias: Bearish
This cross is bearish in the long-term, but bullish in the very short-term. Last Monday, price consolidated, rallied on Tuesday and Wednesday, and then consolidated for the rest of the week. The outlook on the market is bullish for this week, and in case the expected bullish movement is serious enough, the long-term bias on the market should become bullish. This week, the supply zones at 143.50, 144.00 and 144.50, could be targeted.

This forecast is concluded with the quote below:

“Price action behavior in all timeframes reflects rational human behavior. Thus, whether a trade is executed on the 5 minute or the monthly chart, price action and the trading idea remains equally valid. Capital markets are fractal in nature. If you want to trade a system that preserves its’ edges over the long-run, then the low-risk idea should be based on humans’ psychological biases.” - Gabriel Grammatidis

Source: www.tallinex.com

 

[analyst100]

Weekly Trading Forecasts for Major Pairs (September 3 - 7, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
This pair started rising on August 15, and it gained more than 400 pips since then. However, there was a bearish retracement that took place last Thursday and Friday, which was not significant enough to override the recent bullish bias in the market (unless there is at least, 300 pip-drop from here). Price is supposed to recover and move higher this week, reaching the resistance lines at 1.1600, 1.1650 and 1.1700; which were all previously tested.

USDCHF
Dominant bias: Bearish
This is a bear market. Since the last consolidation phase ended, price has come down by over 250 pips, closing on a bearish note on Friday. Since there is a Bearish Confirmation Pattern in the market, it is rational to expect further bearish pressure, which may push price towards the support levels at 0.9650, 0.9600 and 0.9550. The selling pressure needs to be significant for the support level at 0.9550 to be breached to the downside.

GBPUSD
Dominant bias: Bearish
Cable is bullish in the short-term, but bearish in the long-term. Further northward movement will endangered the long-term bearish bias, while further southwards movement will strengthen it. Price closed below the distribution territory at 1.2900 on Friday, and may go slightly lower before any rally effort is made. The possibility of price moving lower is stronger than its possibility of moving higher.

USDJPY
Dominant bias: Neutral
The bias is now essentially neutral, and the situation in the market is currently dicey (as the market is choppy). Recently, price has swung between the supply level at 112.00 and the demand level at 109.50. As long as price is between these demand and supply levels, the neutrality in the market will persist. Once the demand level is breached to the downside (and price stays below it) or the supply level is breached to the upside (and price stays above it), the neutrality will end and a directional bias will start. Nevertheless, this requires a strong momentum to happen.

EURJPY
Dominant bias: Bullish
Since August 15, price has gained roughly 600 pips, before the bearish movement that was witnessed on August 30 and 31. From last week’s high, price went downwards by 200 pips, and it could still go downwards by another 100 pips or more or less. The bullish bias will remain intact as long as price does not go below the demand zone at 126.00. Bulls will generally continue to endeavor to push the price upwards.

GBPJPY
Dominant bias: Bullish
The cross is bullish in the very short-term (though the long-term bias is somewhat bearish). A strong movement towards the south will result in more emphasis on the recent bearishness in the market, while a strong movement to the upside will result in a Bullish Confirmation Pattern in the market. On the upside, the supply zones at 144.50, 145.00 and 145.50 could be reached, provided the market does not continue its current bearish correction.

This forecast is concluded with the quote below:

“Those who know me or who have traded with me know that I am always looking for a simple and straightforward approach to trading.” – Andy Jordan

Source: www.tallinex.com

 

[analyst100]

Technical Reviews for Gold and Silver (September 2018)

GOLD (XAUUSD)
Dominant Bias: Bearish
Gold is a bear market. In August price dipped by over 6000 pips, reaching around the support level of 1160.00 (a support level). From there, price moved upwards by 5000 pips and then moved sideways till the end of the month. All this happened in the context of a downtrend; plus the market has been moving sideways in the last two weeks. A breakout is imminent, and that would happen anytime before the end of September and it would most probably favor bears. Thus price is expected to go downwards by at least 5000 pips from here.


SILVER (XAGUSD)
Dominant Bias: Bearish
Just like Gold, Silver is also bearish, but its downwards movement is more pronounced than that of Gold. Price dropped roughly 10,000 pips in August alone and it has dropped 32,000 pips since June 14, 2018. Owing to the current Bearish Confirmation Pattern, it is rational to expect further bearish movement (at least another 10,000 pips) in September. 4000 pips have already been lost this month, and after the current consolidation ends, further bearish journey should continue, leading to more shedding of pips.


Source: www.tallinex.com