analyst75 Posted June 24, 2018 Share Posted June 24, 2018 Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The market swung upwards and downwards last week, without a directional movement. Nevertheless, the major bias remains bearish, and the outlook on EUR pairs is mostly bearish for this week. It is possible that price will test the support lines at 1.1600, 1.1550 (which were previously tested last week). Price may also reach the support line at 1.1500, and possibly breach it to the downside. But that will require a heavy selling pressure. USDCHF Dominant bias: Bearish Price went sideways from Monday to Wednesday, and fell on Thursday and Friday, corroborating the outgoing bearish outlook on the market. Both USDCHF and EURUSD are currently bearish: But protracted bearish pressure on the latter may help a bullish signal to be generated on the former. There are support levels at 0.9850 and 0.9800. There are also resistance levels at 0.9900 and 0.9950. GBPUSD Dominant bias: Bearish In the context of a downtrend, price went further southwards, shedding 160 pips and almost testing the accumulation territory at 1.3100. There was an upwards bounce on Thursday, but that would be an opportunity to sell short at higher prices (unless the distribution territory at 1.3400 is breached to the upside). GBP pairs (as well as other major pairs) will experience high volatility this week, and also in the first week of July. USDJPY Dominant bias: Neutral The long-term bias is bullish, but the short-term bias is bearish. Throughout last week, price meandered between the demand level at 109.50 and the supply level at 111.00. Should price continue to move within the confines of the aforementioned demand and supply levels, the short-term bias would remain neutral. Once the confines are breached, a directional movement will resume, and it could most likely favor bulls. EURJPY Dominant bias: Bearish Just like its USDJPY counterpart, this cross mostly ranged last week (though the recent bias on the market is bearish). For the ranging movement to end, it is either price will breach the demand zone at 127.00 to the downside (going further downwards), or price would need to breach the supply zone at 129.00 to the upside (going further upwards). One of these conditions must be met for the bearish bias to be supported or invalidated; otherwise the trend would become neutral. GBPJPY Dominant bias: Bearish This cross underwent a heavy selling pressure on July 18 and 19, but bulls pushed price upwards on July 20 and 21. There remains a Bearish Confirmation Pattern in the market, and it would be invalidated only when price moves upwards by 500 pips from here. On the other hand, price could continue falling towards the demand zones at 145.00, 144.50 and 144.00. Price could even go further downwards than that. This forecast is concluded with the quote below: “Trading is a process-oriented endeavor for those who are serious about becoming and remaining a consistently successful trader.” – Dr. Woody Johnson Source: www.tallinex.com Quote Link to comment Share on other sites More sharing options...
Josesv Posted July 25, 2018 Share Posted July 25, 2018 The euro to swiss franc trades at 1.1639 currently. It remains below the 1.2000 level that was the level the SNB pegged prior to the January 2014 when they stopped selling the currency. The CHF shot higher and has been recovering since. Earlier this year the price moved to a high of 1.20047, and sellers reentered (buyers of CHF). The low since reached 1.1367. We trade near the middle of the 2018 range (that is at 1.1686) Quote Link to comment Share on other sites More sharing options...
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