Weekly Trading Forecasts for Major Pairs (August 6 - 10, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
As the beginning of last week, the pair saw a considerable increase throughout its first and second days of trading. Price later dropped below the resistance line at 1.1600, closing below it (and that signified a drop of more than 170 pips from last week’s high). This month, the outlook on EUR pairs is bullish, which means EUR would rise against most major currencies, thereby reversing the current bearish bias on the market. However, EUR may not be able to rally versus JPY.

USDCHF
Dominant bias: Neutral
The market has been moving sideways since June – hence the current neutral outlook. Price has been moving between the resistance level at 1.0050 and the support level at 0.9850, at least on a long-term basis. For the neutral bias to end, price would need to move out of these boundaries, and that is expected to create a directional bias. However, it may take several trading days (even a few weeks), for a strong, directional movement to occur. This is because volatility in the markets would be generally low this month, save in certain cases.

GBPUSD
Dominant bias: Bearish
The bias on GBPUSD is bearish and it would continue to be bearish, at least for this week. Price ranged from Monday to Wednesday, and then dropped further southwards on Thursday and Friday. The drop may continue this week, as price targets the accumulation territories at 1.2950 and 1.2900 (which may even be exceeded). A considerable amount of volatility will be witnessed on GBP pairs, while volatility will be low on most other pairs.


USDJPY
Dominant bias: Bullish
The situation on this trading instrument is tricky. It is bullish in the long-term, but neutral in the short-term. The bullish bias will soon change to a bearish bias (while the short-term neutrality will evaporate), because the outlook on JPY pairs is strong bearish for this week, and for the whole month of August. In fact, price is expected to shed a minimum of 300 pips this month, reaching the demand levels of 110.00, 100.00 and 109.00.

EURJPY
Dominant bias: Bearish
The market initially went upwards, reaching the supply zone at 131.00. Nonetheless, further upwards movement is rejected at that supply zone as price slid downwards by roughly 240 pips, closing near the demand zone at 128.50 on Friday. Since there is Bearish Confirmation Pattern in the market, further downwards movement is anticipated this week, which would enable price to reach the demand zones at 128.50, 128.00 and 127.50.

GBPJPY
Dominant bias: Bearish
There is a “sell” signal in the market. Price first went upwards by 150 pips last week, reaching the supply zone at 147.00. It even moved slightly above that supply zone before dropping by 240 pips; hence the “sell” signal. Given the weakness of GBP, and the bearish outlook on JPY pairs, the most probable movement this week, is downwards. The demand zones at 144.50, 144.00 and 143.50 would easily be reached.

This forecast is concluded with the quote below:

“Trading in itself is a thrilling activity, and many non-traders never have a chance to experience that level of excitement.” – Andy Jordan

Source: www.tallinex.com

Technical Reviews for Gold and Silver (August 2018)

GOLD (XAUUSD)
Dominant Bias: Bearish
Gold has ended its recent short-term neutrality by dropping 5000 pips in July. In fact, the current dominant bearish bias started on April 11 (following a long period of a boring, choppy market), and price has dropped over 15,000 pips since then, resulting in a Bearish Confirmation Pattern in the market. This month, the bearish movement will continue in spite occasional rallies, which would be transitory in nature and invariably lead to further short selling. The targets for bears are the demand levels of 1200.00, 1150.00 and 1100.00.


SILVER (XAGUSD)
Dominant Bias: Bearish
Silver is neutral in the short-term, unlike Gold. But it is bearish in the long-term. In the long-term, all previous months have been trendless expect June and July. From the high of June 17.2000, price has come downwards by 20,000 pips. Although things are currently choppy, the situation is expected to be temporary, because there is a possibility the ongoing bearish bias will continue, as price makes for the support levels at 15.2000, 15.0000 and 14.800. This will eventually result in a Bearish Confirmation Pattern in the short-term as well.


Source: www.tallinex.com

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

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

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

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

Weekly Trading Forecasts for Major Pairs (September 17 - 21, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Neutral
The bias on EUR/USD has essentially turned neutral, as price has not made any significant upwards or downwards movement in the last several trading days. There is a resistance line at 1.1750, and there is a support line at 1.1500. Either the resistance line must be breached to the upside, or the support lines must be breached to the downside before there could be a directional bias. That is what is expected before the end of this week or next.

USDCHF
Dominant bias: Bearish
This is a bear market. In the medium-term, the market has been swinging up and down. The price action is characterized by higher lows (which proffer opportunities to sell short at slightly higher prices), and lower lows, which follow the line of the least resistance. The most probable direction for the market this week is bearish. Price has remained bearish when EURUSD was weak, and therefore, it would be very difficult for USDCHF to trend upwards when EURUSD breaks out upwards.

GBPUSD
Dominant bias: Bullish
A clean bullish signal has already been generated in the market. Even in the higher time horizon, price has been going upwards in the past four weeks. On Friday, the market closed on a slightly bearish note – which would eventually turn out to be a temporary pullback in the market. The recent bullish journey is expected to resume, and the distribution territories at 1.3100, 1.3150 and 1.3200 may be reached within two weeks.

USDJPY
Dominant bias: Bullish
A straightforward bullish signal has been generated and there is a high probability that the market would continue to make higher highs, owing to the Bullish Confirmation Pattern that was present in the market. Within the next several trading days, price is expected to reach the supply levels at 112.50, 113.00 and 113.50. There is also a demand level at 111.00, which is supposed to be a barrier to any bearish pullbacks along the way.

EURJPY
Dominant bias: Bullish
The bias is bullish, but the bullishness is weak. Further bullish movement is expected but any surprisingly negative fundamentals can send the market tumbling (owing to the precariousness of the market). The next targets are the supply zones at 130.50, 131.00 and 132.00. A very strong buying pressure is needed for the supply zone at 132.00 to be breached to the upside, and this will not come without bearish machinations.

GBPJPY
Dominant bias: Bullish
This cross gained about 370 pips last week, having gained over 700 pips since August 15. Price closed on Friday, around the demand zone at 146.00. The outlook on the market remains bright, and therefore, in spite of any possible pullbacks in the market, general movement will be towards the north. The Bullish Confirmation Pattern in the market will aid price towards the supply zones at 146.50, 147.00 and 147.50.

This forecast is concluded with the quote below:

“I realized that the more common pitfalls you avoid, the more edges you have relative to other traders operating with less awareness.” – VTI

Source: www.tallinex.com

Weekly Trading Forecasts for Major Pairs (September 24 - 28, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
The current bias on the market is bullish, but the bullishness is not very strong. Price consolidated in the first few trading days of last week, and went higher on Thursday. The outlook on the market remains bullish for this week, and thus, buying pressure may take price towards the resistance lines at 1.1750 (which was previously reached), 1.1800 and 1.1850. There is also a good support line at 1.1650, which should try to prevent any meaningful pullback along the way.

USDCHF
Dominant bias: Bearish
The market dropped roughly 100 pips last week, having dropped 400 pips since August 17, 2018. Since there is a Bearish Confirmation Pattern in the market, it is assumed that the price should continue going further and further downwards, reaching the support levels at 0.9550, 0.9500 and 0.9450 within the next few weeks. There could be some transitory rallies along the way, but they should not be significant to the extent of overriding the current bearish market. .

GBPUSD
Dominant bias: Bullish
This long-term and the short-term biases are bullish. Since August 16, 2018, price gained 600 pips, resulting in a confirmed “buy” signal. On September 21, there was a serious pullback in the market, which made price drop 200 pips from the high of that day. The drop was not strong enough to bring about a “sell” signal, unless the market drops at least, another 200 pips. This will determine what the market will do next.

USDJPY
Dominant bias: Bullish
About two weeks ago, a clean bullish signal was generated on this currency trading instrument, and the signal has been sustained till now. For about two weeks, price has gone northwards slowly and gradually, gaining about 200 pips. There is much room for price to go northwards: The supply levels at 113.00, 113.50 and 114.00 could be aimed at, although a very strong buying pressure is needed to reach the supply level at 114.00..

EURJPY
Dominant bias: Bullish
Like USDJPY, this cross has been going upwards in the last two weeks (a gain of roughly 500 pips). Since there is a Bullish Confirmation Pattern in the market, further northwards journey is possible, even in spite of the minor bearish retracement that was witnessed last Friday. The supply zones at 135.50, 136.00 and 136.50 could be reached within the next several trading days. They could even be exceeded.

GBPJPY
Dominant bias: Bullish
Since a bullish signal was generated on GBPJPY, price has made a significant gain. Nonetheless, there was a pullback on September 21, which cannot be ignored (a pullback of 240 pips). It is normal for price to resume its northward journey from here, giving a good opportunity to go long at lower prices. On the other hand, the market could pull back further, and that may threaten the recent bullish signal.

This forecast is concluded with the quote below:

“Any one of the many trading strategies available to traders can be used following the principle of matching personal risk tolerance to the amount of risk in the market.” – Joe Ross

Source: www.tallinex.com

Weekly Trading Forecasts for Major Pairs (October 1 - 5, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This pair has become bearish, especially in the short-term. Last week, price went sideways from Monday to Wednesday and then dropped sharply on Thursday and Friday. The drop was 170 pips, and it was enough to bring about a near-term bearish outlook on the market. This week, the bearishness could continue as the market is projected to drop at least, another 100 pips, which would enable the support line at 1.1500 to be reached.

USDCHF
Dominant bias: Bullish
There is a Bullish Confirmation Pattern on USDCHF, brought about by the strength in the Greenback (and the bearish run on EURUSD). The rate at which USDCHF has gone upwards is faster and more serious that the rate at which EURUSD has come downwards. Price gained 230 pips last week, ending the recent bearishness in the market and ending September 28 on a bullish note. The outlook on the market is bullish for this week.

GBPUSD
Dominant bias: Bearish
In the first 3 weeks of September, Cable made commendable effort to bring about a sustainable bullish signal in the market. Nevertheless, the downward movements that was witnessed on September 21, 27 and 28, have rendered the bullish effort useless. In fact, the bias on the market is now bearish and the accumulation territories at 1.3000, 1.2950 and 1.2900 could be tested before the end of the week.

USDJPY
Dominant bias: Bullish
This is a bull market, with a clean Bullish Confirmation Pattern. The strength of USD, plus the perceived weakness in JPY, has helped the buying pressure in the last few weeks. Since September 7, the market has gained about 320 pips, and it might gain at least, another 200 pips within the next 2 weeks. This week is going to be volatile for JPY pairs, as it is the new week of the October.

EURJPY
Dominant bias: Bullish
On September 24 and 25, this cross went sideways. From September 26 to 28, it began to pull back. The pullback was not significant enough to bring about a bearish signal in the market, unless price falls by another 200 pips. From this point, price has a higher probability of going upwards than going downwards, and as a result of this, the supply zones at 132.00, 132.50 and 133.00 might be attained before the end of this week.

GBPJPY
Dominant bias: Bullish
There is a valid bullish outlook on this trading instrument, irrespective of the fact that the market movement was flat throughout next week. It is possible that the flatness in the market could continue for a few more days, before there is a breakout in the market. When the breakout occurs eventually, it would end the current flatness in the market and most probably favor bulls. The expected bullish movement could even become significant, especially when GBP finally begins to gather strength.

This forecast is concluded with the quote below:


“…The good thing is that there is no age limit when it comes to trading and, unlike the Olympics, you don't have to worry so much about the physical part as you can go for gold from the comfort of your chair.” – TradingEducators


Source: www.tallinex.com

Weekly Trading Forecasts for Major Pairs (October 8 - 12, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
The market was bearish last week, and the bearishness has become pronounced since September 26, 2018. Since the mentioned period, price has lost about 300 pips (or more or less). The market would remain bearish as long as USD is strong, and the support lines at 1.1450, 1.1400 and 1.1350 may be tested. There could be temporary bullish effort on the way, but the general movement this week should be bearish.

USDCHF
Dominant bias: Bullish
The Bullish Confirmation Pattern on this market has been steady and unaffected. Since September 21, price has gained about 390 pips (it gained about 140 pips last week). Price topped at 0.9953 and ended Friday on a slight bearish note. The outlook for this week is bearish, as price is expected to continue going upwards until it reaches the resistance level at 1.0000 where a very strong and stiff resistance will be met.

GBPUSD
Dominant bias: Bearish
The bias on the GBP is bearish but there is a serious rise in a bullish momentum, which would eventually render the bearish outlook ineffectual. Price went downwards from Monday till Wednesday and then started going upwards. The upwards movement was strong enough to threaten the extant bearishness in the market, and once the market gains another 200 pips (which is expected to happen this week), the bias on the market will turn bullish.

USDJPY
Dominant bias: Bullish
USDJPY went upwards from October 1 to 3, and then started going downwards from October 4. Unless the demand levels at 112.00 is breached to the downside, the outlook on the market will remain bearish. A movement from here, towards the north, will result in confirmation of the current bullish bias. That means failure to go upwards will eventually result in “sell” signal in the market.


EURJPY
Dominant bias: Bullish
This cross is bearish in the short-term, but bullish in the long-term. The movement that was experienced last week was not that much, but this week might be different, as JPY pairs break out with renewed momentums. Should price drop 200 pips from here, the bias on the market will turn bearish. Should price rise by 200 pips from here, the long-term bullish bias on the market will eventually be saved.

GBPJPY
Dominant bias: Bullish
The rally attempt that was seen last Friday ended the consolidation that was witnessed in the last two weeks. If not for the fact that the JPY is kind of strong in its own right, the market would have gone upwards significantly last week (Just as GBPCHF, GBPAUD and GBPNZD have gone significantly upwards). However, any signs of weakness in JPY may result in a strong bullish movement, which may enable price to reach the supply zones at 149.50, 150.00 and 150.50.

This forecast is concluded with the quote below:

“Your trading life is the sum total of all of your experiences, not just the ones you are comfortable with.” – Woody Johnson

Source: www.tallinex.com

Technical Reviews for Gold and Silver (October 2018)

GOLD (XAUUSD)
Dominant Bias: Bearish
Gold is bearish in the long-term, but bullish in the short-term. Price skyrocket on October 11, thus bringing about a bullish signal in the short-term. In the long-term, Gold would need to continue making its bullish effort before the long-term bias can become bullish as well (provided the market continues going upwards). A movement to the south, would invalidate the short-term bullish signal and strengthen the bears’ position and enable a bearish trend continuation. However, a move to the upside is the most likely.

SILVER (XAGUSD)
Dominant Bias: Bearish
Silver is neutral in the short-term, and bearish in the long-term. Should the market continue its current consolidating movement, the long-term bias also may become neutral. It is more likely that the current market condition will continue, until the situation changes around the end of November 2018. That means a breakout is more likely to occur, and when it does occur, it would most probably favor bulls. Either there would be a bullish breakout by the end of November, or there would be a continuation of the current short-term consolidation.

Source: www.tallinex.com

Weekly Trading Forecasts for Major Pairs (October 27 - November 2, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
EURUSD is in a bearish trend – which started about 2 weeks ago. Price went downwards by roughly 160 pips last week, having gone down by 250 pips since October 15. Further bearish movement is anticipated, that would move price towards the support lines at 1.1350 (which was previously tested and will be tested again), 1.1300, and 1.1250. However, a very strong selling pressure is needed to break the support line at 1.1250 to the downside.

USDCHF
Dominant bias: Bullish
There remains a Bullish Confirmation Pattern on USDCHF, which has been in place for at least, 4 weeks. Since the current bullish movement began in September 21, price have moved forwards by about 470 pips. Last week, there was no significant bullish movement, and price closed on a bearish note on Friday, which was presumed to be a temporary reversal in the context of an uptrend. The bullish journey is expected to resume soon.

GBPUSD
Dominant bias: Bearish
The movement on Cable is nearly similar to the movement on EURUSD – the only difference being that the movement on the former is faster than the movement on the latter. Since October 12, price has dropped at least, 450 pips, as the market makes high lows and lower lows. Higher lows allow traders to enter short at better prices, and it is a pattern that is expected to continue as Cable targets the accumulation territories at 1.2800, 1.2750 and 1.2700.

USDJPY
Dominant bias: Bearish
The market is bearish, especially in the short-term; and in spite of bulls’ effort, a bearish signal has already been generated and this will become more significant as the market goes further southwards (a trend that is expected this week and next week). There would be pauses and transitory rallies on the way, but the demand levels at 111.50, 111.00 and 110.50 would be reached.

EURJPY
Dominant bias: Bearish
This is a classic example of a bearish movement. Since September 21, price has dropped roughly 600 pips, thus giving a rise to a strong Bearish Confirmation Pattern. The market will continue its drop this week, as JPY continues to exert its energy. There is going to be lots of opposition to the bearish trend once price reaches the demand zone at 126.50, nonetheless. But with enough selling pressure, the demand zone will be breached to the downside.

GBPJPY
Dominant bias: Bearish
There was a massive drop on the GBPJPY, which happened last week, and which ended the protracted ranging movement that was seen in the latter part of September 2018 and the early part of October 2018. The last week drop was over 400 pips, as the weakness in GBP was too favorable to the stoing JPY. Price closed on a bearish note on Friday, following some shallow upwards bounces. Further drop of at least, 250 pips is anticipated this week.

This forecast is concluded with the quote below:

“Markets go up and markets go down. Sometimes they go up a lot and sometimes they go down a lot.” – Chris Tate

Source: www.tallinex.com

Technical Reviews for Gold and Silver (November 2018)


GOLD (XAUUSD)
Dominant Bias: Bearish
Gold is bearish is the long-term, but neutral in the short-term. Since April 2018, price has shed 20,000 pips, reaching a yearly low of 1159.00. However, price has been ranging since the yearly low was reached in August, as speculators await breakouts of the price. There have recently been wild upwards and downwards swings, which have not been strong enough to put an end to the ongoing sideways movement in the market. This is supposed to happen before the end of November and the most probable direction is towards the north.
.

SILVER (XAGUSD)
Dominant Bias: Bearish
Exactly like Gold, Silver is also bearish in the long-term and sideways in the short-term. Since the top of April 2018, price has gone downwards by over 30,000 pips, reaching an annual low of 13.0000 in September 2018. Since then, the market has become very choppy with no directional movement. A movement towards the annual low will give emphasis to the ongoing Besrish Confirmation Pattern in the market; otherwise a protracted bullish movement, which goes on for a few days consecutively, will result in a valid bullish signal.

Source: www.tallinex.com

Weekly Trading Forecasts for Major Pairs (November 12 - 16, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
EURUSD has become particularly bearish since last week (the bearishness has been in place since August 2018). On November 7, another phase of a bearish movement was begun and price has really become weak. There are support lines 1.1250, 1.1200 and 1.1150, which would tend to impeded further bearish journey. The outlook for this week is bearish, and thus long trades are not currently recommended.

USDCHF
Dominant bias: Bullish
This pair is currently doing exactly the opposite of what EURUSD is doing. The trend is bullish and the bullishness has been in place for a long time. On Wednesday, there was a new lease of bullish breakout, which has made the market skyrocket by nearly 150 pips. The bullish trend is still in place as there is a high probability that price will continue going upwards this week, reaching the resistance levels at 1.0100, 1.0150 and 1.0200. It is highly unlikely that price will be able to stay above the resistance level at 1.0200, even if it breaks it to the upside.

GBPUSD
Dominant bias: Bearish
The situation surrounding the Cable is currently dicey. The long-term trend is bearish and the short-term trend is bullish. However, the current selling pressure is undermining the short-term bullish signal in the market. Since last week Wednesday, the market has lost well over 320 pips, and another loss of at least, 300 pips, will result in a stronger Bearish Confirmation Pattern in the market. .

USDJPY
Dominant bias: Bullish
There is an undisputable Bullish Confirmation Pattern on this currency trading instrument. In the long run, price has gained over 900 pips since March 2018, plus the current bullish breakout has occurred since October 29. Some other JPY pairs are currently trending downwards, but USDJPY remains strong, thanks to the strength in Greenback. The current strength should remain in place, otherwise, a massive bearish movement could begin.

EURJPY
Dominant bias: Bearish
This cross is bearish in the short-term, but neutral in the long-term. In the long run, the market is quite choppy; whereas there has been a slow and steady bearish movement in the shorter timeframe. The recent bullish signal that was generated (especially last week), has been threatened by the ongoing southwards movement in the market. The further the price moves downwards, the more convincing the weakness in the market.

GBPJPY
Dominant bias: Bearish
The market is a kind of bullish in the short-term; but the situation in the market is precarious as the trend remains undecided in the long-term, and the bull is almost giving way to the bear’s pressure. Since Friday, GBPJOY has lost 320 pips, now getting close to the demand zones at 145.00. The demand zone could be breached to the downside, which may render the recent “buy” signal in the market useless; otherwise, the “buy” signal will be saved.

This forecast is concluded with the quote below:


“Money is made as a by-product of following a sound trading plan, and adhering to the principles of money management.” – Louise Bedford

Source: www.tallinex.com

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

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
The bias is neutral in the short-term and bearish in the long-term. Last week, price swung upwards and downwards without having a directional movement. That is going to change this week, as a prolonged directional movement is expected, which would most probably favor bulls, as price is approaching major support lines at 1.1250 and 1.1200 (areas where further bearish effort will be rejected).

USDCHF
Dominant bias: Bullish
Although inversely, when compared to the EUR/USD, this pair is neutral in the short-term and bullish in the long-term. The market also moved upwards and downwards last week, without any clear direction. This week, a clear directional movement is anticipated and that would most probably favor bears. This does not mean there cannot be rally attempts, but it would meet a strong hindrance at the resistance levels of 1.0050, 1.0100 and 1.0150.

GBPUSD
Dominant bias: Bearish
This is a bear market – both in the long and the short term. Bullish efforts have proven abortive as the market retains its bearishness. On Friday, price closed at 1.2744, and it may go further downwards towards the accumulation territory at 1.2700, and below that. However, the further southwards the price goes, the higher the probability of a bullish breakout when it does happen, and that will be strong when it happens.

USDJPY
Dominant bias: Bullish
USDJPY is slightly bullish – with a kind of precarious Bullish Confirmation Pattern in the market. Further rally from here will result in a stronger Bullish Confirmation Pattern; while a southwards movement from here will result in nullification of the Bullish Confirmation Pattern, which may harbinger a “sell” signal in the market. Either of the aforementioned scenario will materialize this week, for a rise in momentum is expected.

EURJPY
Dominant bias: Neutral
This is a neutral market, which has been consolidating for the past 3 weeks. The consolidation phase is bounded by the supply zone at 130.00 and the demand zone at 126.00. As long as price is within that supply zone and that demand zone, the consolidation phase will exist. On the other hand, there should be an end to the consolidation phase before the end of the week. It is after that that winners will be determined; either the bull or the bear.

GBPJPY
Dominant bias: Neutral
This is a flat market, which has been particularly flat since the middle of November 2018. There is supposed to be an end to the flatness this week, because a rise in the momentum of the market is expected. The most probable direction would be skywards when a breakout does occur, because there is a high probability that GBP will gain enormous stamina. The supply zones at 146.00, 146.50 and 147.00 might be reached soon.

This forecast is concluded with the quote below:

“Trading is like playing chess; you can learn a lot about it by reading books but if you really want to get good in it, you actually have to do it on your own. Practice is necessary to becoming successful in many professions; and trading is one of them!” – Andy Jordan

Source: www.tallinex.com

Technical Reviews for Gold and Silver (December 2018)

GOLD (XAUUSD)
Dominant Bias: Bullish
Gold has been making attempts to go upwards this month. The attempt started on November 13, when price reached the monthly low of 1195.90, and since then, price has gained roughly 5200 pips. This has generated a bullish signal in the market (both in the long-term and the short-term). The bullish signal is supposed to be sustained until the end of the year as price gains another 3000 pips minimum, thereby creating a huge Bullish Confirmation Pattern in the market. Short positions are not currently recommended.

SILVER (XAGUSD)
Dominant Bias: Neutral
Unlike Gold, which has had a sensible bullish signal on it, Silver remains neutral, with no directional movement in the last few weeks. In the long run, the neutrality has been in place since August 2018. Although there seems to be some noticeable bullish effort in the short-term, that is not significant enough to result in a bullish signal, unless price goes above the supply zone at 15.0000, which would require some determined buying pressure in the market. While the current consolidation will probably continue for some time, the trend is expected to end before the end of this year, leading to a breakout that will most probably favor bulls.

Source: www.tallinex.com

Weekly Trading Forecasts for Major Pairs (December 17 - 21, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This is a bear market, although the bearishness is not that strong. Price has been going downwards gradually, targeting the support lines at 1.1300, 1.1250 and 1.1200. These targets may be reached soon, but price may not go seriously below them as a strong reversal is expected to happen anytime, which will accompany some form of weakness in USD. This is what might bring about a bullish bias.

USDCHF
Dominant bias: Bullish
USDCHF is bullish in the long-term, and neutral in the short-term. Nonetheless, looking more closely, it is revealed that price is a kind of rising gradually, and generating a “buy” signal, which would eventually become significant in case the market continues moving upwards. A meaningful bearish movement cannot be seen unless there is a considerable amount of loss on Greenback stamina.

GBPUSD
Dominant bias: Bearish
There is a Bearish Confirmation Pattern on the Cable as bears continue to frustrate bulls’ effort to reverse the trend and push price upwards. Apart from Brexit and political news surrounding the UK, the US dollar stamina is preventing the market from going upwards. Once bears give way, there may be a significant rise in the market. Right now, the bearish bias remains in place and long positions are not currently recommended.

USDJPY
Dominant bias: Bullish
This currency trading instrument is bullish in the long-term, and neutral in the short-term. The bullishness is not that great as there has not been a significant directional movement in the market. A rise in volatility remains a possibility before the end of this week or next week. Further movement to the upside will result in more emphasis on bullish outlook while a significant drop from here would result in a bearish outlook.

EURJPY
Dominant bias: Neutral
The bias on this cross is generally neutral, as there has not been a significant directional movement for the past several weeks. It is possible that this neutrality would continue until the end of this year because trading activity is expected to thin out (unless there is a breakout between this week or next). For the neutrality to end, price would need to go above the supply zone at 131.00 or below the demand zone at 125.00, and this will no doubt, require a strong bullish momentum.


GBPJPY
Dominant bias: Bearish
There is a confirmed bearishness (Bearish Confirmation Pattern) on this cross, because of the weakness in GBP. This trend will continue until it is clear that things are no longer bearish. That will be this week or next, and before that happens, there could still be at least, a movement of about 200 pips towards the south.

This forecast is concluded with the quote below:

“However, if a trading strategy has been proven to work over the long run, with a quality risk to reward profile, it needs to be adhered to no matter the way trades play out. Ask yourself a question: is it the trading strategy producing the results or the trader producing the results?” – Sam Evans


Source: www.tallinex.com

Teach Yourself Technical Analysis

THE TECHNICAL ANALYST HAS BECOME AN ENDANGERED SPECIES
According to Investopedia.com, technical analysis is a trading discipline employed to evaluate investments and identify trading opportunities by analysing statistical trends gathered from trading activity, such as price movement and volume. Unlike fundamental analysts, who attempt to evaluate a security’s intrinsic value, technical analysts focus on patterns of price movements, trading signals and various other analytical charting tools to evaluate a security’s strength or weakness.

Given the definition above, you can see the important of technical analysis as far as trading is concerned. However, many people do not understand what it is, not to mention how to apply it in their trading. Most readers and visitors to shares, cryptocurrencies, forex, commodities, etc, news websites, do not understand technical analysis, and so they prefer to ignore it and read the articles they understand instead (such as those about fundamental market news and briefs).

Even in the nascent cryptocurrency industry, demand for the technical analyst is drying up, especially amid crypto winters, as well as protracted bear markets.

No wonder the technical analyst has become an endangered species, because most members of the public do not understand our work and therefore are not interested in our analyses. This is one of the reasons why the technical analyst’s career is threatened.

When the general public know more about technical indicators, they will be inclined to read technical analysis of the markets, whenever they come across such online. They will appreciate what the technical analyst does and the effort behind those technical productions. They will be able to understand what the technical analyst has in mind and how their thoughts can be applied to financial instruments.

More importantly, people will be able to apply technical analysis to their own speculation and investment, with satisfactory results. The truth is, when applied correctly and objectively, technical analysis works.

This book is also for those who want to consider a career as a technical analyst. It is very easy to use and understand; very easy to familiarize oneself with. It contains step-by-step explanations and it will launch you into the fascinating world of technical analysis.

The content of this book were originally published in TRADERS’ (https://www.traders-media.de/), and have been reproduced by their kind permission.

Teach Yourself Technical Analysis: https://www.advfnbooks.com/books/techanalysis/index.html
Teach Yourself Technical Analysis. UK Kindle: https://www.amazon.co.uk/dp/B08GPGS5GJ
Teach Yourself Technical Analysis. US Kindle: https://www.amazon.com/dp/B08GPGS5GJ
Teach Yourself Technical Analysis. UK paperback: https://www.amazon.co.uk/dp/1912741067
Teach Yourself Technical Analysis. US paperback: https://www.amazon.com/dp/1912741067

Teach Yourself Technical Analysis, Kobo: https://www.kobo.com/gb/en/ebook/teach-yourself-technical-analysis

Teach Yourself Technical Analysis, Apple: https://books.apple.com/us/book/teach-yourself-technical-analysis/id1534690445?ls=1