Forex Analysis and News for Major Currency pairs

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Forex Analysis and News for Major Currency pairs November, Week 1


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Here’s the market outlook for this week:


EURUSD


Price Trend: Bearish


Last week, there was sideways movement in the EURUSD. But by the end of the week, it managed to trade upward. The move was not significant as it was not heavy enough to trigger an uptrend. Thus even by last week Friday, the trend was still a downtrend with this trend extending to this week. In fact the trend is a downtrend for most EUR pairs. It is thus possible that this currency pair may drop down to 1.0900, 1.0850 even falling as far down as 1.0800 (all these points being support levels) across the next four days.



EURJPY


Price Trend: Bullish


Even in face of the euro losing strength, the EURJPY managed to climb up by over 225 pips. Prices for this pair closed last week at 115.11. This comes following the formation of a strong Bullish Confirmation on the H4 chart. The charts indicate that prices were more likely to push up. Thus across the next four days, it is possible prices may reach the supply zones located at 115.50, 116.00 and 116.50.



GBPUSD

Price Trend: Bearish


For the last two weeks, we have been seeing sideways movement in the cable. This has resulted in the short term trend being neutral. But then across the next four days, the trend is a downtrend, thus we are not expecting this pair to noticeably push up. Across the upcoming month of November, we expect big movements in GBP pairs, but these movements look to be more on a downtrend.




USDJPY

Price Trend: Bullish


Just in line with our previous forecast, the USDJPY has been enjoying an uptrend. For last week, prices have climbed up by over 160 pips even attempting to push above the supply levels located at 105.50. On October 28, prices went down but at the end, it was a chance to open long positions at lower prices. For this week, we still the USDJPY to continue in its uptrend.



USDCHF


Price Trend: Bullish


The USDCHF made strong attempts to push above the resistance line located at 0.9900; but this didn't last long as prices were eventually pushed down. For almost two weeks now, the USDCHF has been consolidating. Yet this doesn't change the trend from being an uptrend. So far across October, the USD has been bullish. It becomes more likely that the most of the USD's rivals will fall down. There is also the possibility of the USDCHF rising up to 1.0000 (a very notable resistance level). For this to happen, the USDCHF needs to experience intense pressure from heavy buying.

 

[vicknic]

CFD outlook for November

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Here is the market outlook for this month:


FRA40
Price Trend: Bullish


The condition for the FRA40 is not too different from what we have for the GER30. The trend on the daily chart is a downtrend, although there is correction on the 4-hour chart as well as on other smaller timeframes. We expect the trend to remain bullish (even in face of transitory pullbacks). This could however change if prices break past the demand zone located at 4350.0.




SPX500
Price Trend: Bearish


Even in face of the consolidation we have been seeing in the SPX500 for over a month now; there isn’t yet any significant rise in the SPX500 for almost three months now. At the moment, the trend is slowly becoming a downtrend. This is even more obvious considering the signals we have from the daily charts and even the 4-hour chart. Before the year ends, we expect the SPX500 to fall towards the support levels at 2100.0, 2090.0 and 2080.0. This is more likely considering the present trend being bearish.



US30
Price Trend: Neutral


Ever since August, there has been an equilibrium phase in the US30; yet there has been reasonable drop in prices across the last two months. The trend could become an uptrend if a break occurs above the distribution territory located at 18650.0. On the other hand, should there be a break below the accumulation territory located at 17900.0, we could have a downtrend. But till these happen, we can confidently say the US30 is currently experiencing an equilibrium phase. Thus it very necessary to have selling or buying or selling pressure for prices break beyond this zone.



GER30
Price Trend: Bullish


On the daily chart, the trend has not changed from being bullish. But then when we look at smaller timeframes more critically, we see correction in prices. For last week, there was an obvious bearish correction on the 4-hour chart. For now, this is not sufficiently strong to really change the trend from being bullish. Across this week, we are not expecting any changes in the bullish trend. One strong condition for the trend to change from being bullish is prices breaking past 10100.0 which is a critical demand level.


AUS200
Price Trend: Bearish


There was a consolidation in price for the first week of last month. But as at last week, we were already seeing a drop. In the daily charts as well as the 4-hour chart, we are seeing Bearish Confirmation Patterns. This suggests that there could be further drop in prices; even falling towards 5200.0, 5100.0 or 5000.0 (all these being support lines) in the next two weeks. But then it is also possible we may have brief consolidations for the AUS200; as well as attempts to rise up.

 

[vicknic]

Forex Analysis and News for Major Currency pairs November Week 3

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Here’s the market outlook for this week:

EURUSD
Price Trend: Bearish


Last week Monday began with the EURUSD on a downtrend. There was a brief halt in slowly declining prices owing to the US presidential election results. Then by Wednesday the EURUSD experienced a surprising increase of 280 pips. But by the end of Wednesday, the pair was already dropping down again thus forming a Bearish Confirmation Pattern. This almost broke past 1.0850; which is a crucial support level. Across the next four days however, the chances are high that prices may break below the support lines located at 1.0850 and 1.0800. But then there is also the strong chance of prices rising up; this is more likely to happen should the USDCHF fall again.



EURJPY
Price Trend: Bullish


There was not big movement in this pair compared to the USDJPY. We saw some choppiness in the market for this pair, yet so far the trend remains an uptrend. Thus we should be expecting bigger gains in this pair should the euro get any stronger this week. We can expect prices to push up to 116.50 and 117.00 which are supply zones. But then it will necessary for us to see sustained pressure from buying for the EURJPY to push above these levels.





GBPUSD
Price Trend: Bullish


Across this week and possibly the next week, the trend remains an uptrend. But if we look farther on the longer term, the price trend becomes bearish. There was quite some zigzag movement in the GBPUSD as the currency pair experienced consolidation for the first four days of last week. For the fact that the immediate trend is an uptrend, it is very possible that prices may rise further across the next four days. With this, we expect the GBPUSD to push up to 1.2650, 1.2700 and 1.2750 (all which are distribution territories). A stronger uptrend will appear on the D1 chart should the GBPUSD managed to rise up more by 500 pips.



USDJPY
Price Trend: Bullish


Just as we had expected, last week we saw strong upward movements in the JPY. This actually commenced last week Wednesday but there was a halt two days later owing to the strong sell-off which resulted in the USDJPY drastically dropping down by about 400 pips. The USDJPY impressively turned around its losses the next day. For now prices are above 106.50 which is a strong demand level. Thus the possibility is strong that this week, prices may push up to the supply levels we have at 107.00, 107.50 and 108.00. Well the trend for most JPY pairs has not changed from an uptrend (except for the NZDJPY and the AUDJPY).



USDCHF
Price Trend: Bullish


For the first two days of last week, there was sideways movement in the USDCHF. But by Wednesday, the pair was already falling notably. The USDCHF managed to record an increase of 290 pips, steadily rising up from a low of 0.9549, this made the trend a stronger uptrend. Across the week, the possibility is high that the USDCHF may push up to the resistance levels located at 0.9900, 0.9950 even up to 1.0000. But more particularly, 1.000 is one crucial resistance level being a very strong psychological level. Thus it is most likely the USDCHF may experience a pullback should prices not be successful at could breaking past 1.000.

 

[vicknic]

Forex Analysis and News for Major Currency pairs November Week 4


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Here is the market outlook for this week:


EURUSD

Price Trend: Bearish


The decline in the EURUSD still stretched across last week - it even went as far as dropping under the resistance lines located at 1.0650 and 1.0600. A strong trend has formed in the EURUSD with the solid decline of over 700 pips for almost two weeks now. For this we can see that it is very likely the EURUSD will keep falling. It could even drop as far as 1.0550, and 1.0500 even dropping down as far as 1.0450 (all these being support levels). This is very possible should the USD maintain its strength.



EURJPY


Price Trend: Bullish


Despite a brief decline we had in the EURJPY by last week Wednesday, the pair has been on the rise. This increase is supported by the pressure brought about by massive buying as well as a weakening Japanese Yen. The weakness of the yen makes it very possible for even the likes of the euro and British Pound to continue making gains against it. As such unless the Japanese yen gets stronger, it is very likely the uptrend will go on even reaching the supply zones located at 118.00 and 118.50 across the week.



GBPUSD


Price Trend: Bearish


Last week, there was very strong bearish correction in the GBPUSD. This led to us seeing signals to sell on the short term and even on the longer term too. The chance of prices pulling up is really low until price action shows a strong forming uptrend. At this point, it is safer selling this currency pair; thus should prices go up, it is only a better opportunity to quickly sell.



USDJPY

Price Trend: Bullish


The USDJPY has gone up by more than 955 pips since the low the USDJPY suffered as at November 9. As of now there is a strong Bullish Confirmation Pattern. This happens to be one of heaviest directional movement in the previous months. With this in mind, we see that the USDJPY could reach supply levels located at 111.00 and 111.50 across this week.



USDCHF

Price Trend: Bullish


There was an increase of 215 pips in the USDCHF last week. With this significant increase, the pair eventually broke past 1.0000 (which is a very crucial psychological level) even rising as far as the resistance level located at 1.0100. Thus the possibility is high that the uptrend would go on. One likely point the USDCHF may climb to is 1.0200 which is a resistance level. Should prices go higher, it is then more likely they will fall down soon. We expect the uptrend to continue so long the USD doesn't suffer any weaknesses.

 

[vicknic]

Forex Analysis and News for Major Currency pairs December Week 1


EURUSD


Price Trend: Bearish


There was consolidation in prices all through the previous week. Looking closer at the market, we see that there was strong indication that prices may again push up again across this week. We expect the euro to make gains against its major rivals this week. The only exception to this is the dollar getting stronger. This strength of the dollar is expected to run across this week. Thus the EURUSD could aim for 1.0750 and 1.0800 all which are crucial resistance lines.



EURJPY

Price Trend: Bullish



Last week, EURJPY experienced an unhindered gain in prices; with prices peaking at 121.88. This helped the EURJPY close below 121.50 which is a vital supply level. So far, there is the possibility of a confirmation pattern in the EURJPY. With this in mind, we are expecting more gains in this pair this week. Movement in the EURJPY could bring the pair to the supply zones located at 122.00, 122.50 and 123.00. Demand zones located at 120.00 and 119.50 would serve as hindrance to big pullbacks in the pair.



USDCHF


Price Trend: Bullish



There was consolidation in this USDCHF last week. We expect a strengthening US dollar across the next four days. The increase in the USDCHF could be threatened however with a strengthening CHF. For the USDCHF, there are very significant resistance levels located at 1.0150 and 1.0200, with support levels seen at 1.0050 and 1.0000.



GBPUSD



Price Trend: Bullish



There was an end to the two-week equilibrium phase last week. This was a very notable break moving up by 330 pips - cutting through 1.2700 (this is an accumulation territory) going on to close above it. This week, we are expecting gains against majors like AUD and NZD, with possible continuity in the increase against the dollar.



USDJPY


Price Trend: Bullish



Last week, the USDJPY had seen an increase of 300 pips. This wholesome increase pushed the USDJPY to test the supply level located at 114.50; the pair failed to move past this. Last week ending, the pair experienced bearish correction, yet this does not however threaten the strength of the uptrend thus we are expecting more gains in the pair across the next four days. It is then possible that the USDJPY may target the supply levels we have at 115.50 and 115.00.

 

[vicknic]

Forex Analysis and News for Major Currency pairs December, Week 2


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Here is the market outlook for this week:


EURUSD
Price Trend: Bearish


At the beginning of last week, there was an increase of 300 pips in the EURUSD. This increase brought the pair up hitting 1.0850 - which is a resistance line. After this, the direction turned around with a strong decline in prices. By the end of the week, the EURUSD had lost the initial gains it recorded at the beginning of the week. With the decline extending further; pushing the pair down to the support line located at 1.0550. For the next four days, the possibility is high that the pair would keep falling, with a weakening EUR and strengthening USD.


EURJPY
Dominant bias: Bullish


At the moment, the bullish confirmation pattern in this pair is very clear. Of late, prices had gone up and down but all the same the trend is yet to change from an uptrend. Across this week, prices may reach 122.00, 122.50, even as far as 123.00 (all these being supply zones). The main factor supporting the increase in this pair is the yen that is losing strength. Unless the yen gets stronger, the euro which is actually weak will yet be recording gains against the yen; thus maintaining the uptrend.



GBPUSD
Price Trend: Bearish


On Monday and Tuesday last week, there were gains in the GBPUSD with the pair pushing up to reach the distribution territory located at 1.2750. The pair made commendable attempts to remain above this point but eventually recorded little success; falling below it. This really affected the chances of the pair pulling up. Across the next four days, we expect the GBPUSD to suffer further decline possibly breaking through a couple of accumulation territories. The trend however for most GBP pairs this week is a downtrend.



USDJPY
Price Trend: Bullish


There was a continuation in the consolidation in this pair from Monday to Tuesday last week. But by Thursday, we were already seeing an increase in the pair. The USDJPY so far has recorded an increase of over 1380 pips since the very distinct low the pair had dropped to 9th of last month. The trend continues to be an uptrend as such prices may reach the supply levels located at 115.50, 116.00 and 116.50 across the next four days.


USDCHF
Price Trend: Bullish


For the first three days of last week, there was sideways movement in the USDCHF. But from Thursday, the pair started to record gains strengthening the uptrend. The push brought up prices testing 1.0200, which is a notable resistance level, only to eventually close below it. Across the next four days however, the USDCHF could push up to 1.0250 even rising farther into 1.0300 (both being resistance levels). The possibility is strong that the CHF may push up against a number of its rivals, even attempting to rise against the US dollar.

 

[vicknic]

Forex Analysis and News for Major Currency pairs December, Week 3


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Here’s the market outlook for this week:


EURUSD


Price Trend: Bearish


There was sideways movement in the EURUSD across the first three days of last week. But then in line with expectations, the EURUSD suffered a decline. Prices briefly dropped below 1.0400 (which is a support level). Across the next few days, it is likely prices may continue to fall with the trend being a downtrend. Thus it is possible for prices to fall to 1.0400, 1.0350 even as far as 1.0300. This pointed to the increasing chances of the USD hitting parity with the EUR.



USDJPY


Price Trend: Bullish


According to prediction last week, there was an increase in the USDJPY with the pair pulling above 300 pips after there has been sideways movement in the USDJPY for the first two days of last week. So far in course of the last five weeks, the USDJPY has added over 1650 pips. With the trend being bullish, the increase should stretch on. There is also the possibility of prices getting to 118.50 and 119.00 (both of which are supply levels). Thus we are expecting that any push or fall in JPY should be more connected with how strong the individual currencies in the pair are; not really how strong the yen is. Thus it becomes likely that while some JPY pairs would be rising across the next few days, others may be falling.





GBPUSD


Price Trend: Bearish


Following the consolidation of prices across the first two days of last week, a drop occurred the next day in line with our expectations. There have been several tests of the accumulation territory we have at 1.2400, but so far further decline has been reasonably opposed. With the trend being a downtrend for a number of GPB pairs, a breakdown is possible this week which could run into a minimum of 300 pips by the start of next year.





EURJPY

Dominant bias: Bullish


We expect heavy movement in JPY pairs across this week. Even in face of the trend being an uptrend for the EURJPY, it is possible for the continued weakness of the EUR to hamper this, thus cutting down the chances of the EURJPY picking up further gains. But then should prices stay above 121.00 (which is a demand zone) then we expect the trend to continue being an uptrend.




USDCHF


Price Trend: Bullish


In resemblance with the EURUSD, there was a bearish retracement in the USDCHF across the first three days of last week. But after this, the pair pushed up rising above 1.0300 (which is one important resistance level) only to finish below it. We are expecting the USDCHF to move up although it could face challenges in course of this. It is thus likely that the USDCHF may pull up to 1.0300 even as far as 1.0400 across the next few days.

 

[vicknic]

Forex Analysis and News for Major Currency pairs January, Week 2


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Here is the market outlook for this week:


EURUSD

Price Trend: Neutral


For a long time now spanning into weeks, there has not really been a distinct trend, so it is safe to say the trend has been neutral. This way should prices manage to pull 200 pips up, it would become an uptrend. Also should prices fall below 1.0300 (a crucial support line), the trend could become a downtrend. As long as prices are in the region between 1.0300 and 0.0700, the trend will remain neutral.


GBPUSD

Price Trend: Bearish


By last week ending, a powerful pull back has disrupted the push up of the GBPUSD. Although for now, the bias is still a downtrend. With this in mind, any attempt by the pair to pull up may turn out brief so you should not just jump at rising prices. For an uptrend to be established proper, prices need to break past the distribution territory at 1.3000. And for this to happen, the pair must experience a strong pull up in the GBPUSD.



USDJPY

Price Trend: Neutral


The trend for this week even extending into next week is still neutral, the sideways movement in the pair would stop should there be a strong move in the pair either up or down. For a trend to be formed proper, it would be necessary for the pair to move above 118.00 where we have a significant supply level; or prices would have to push below 115.00 which is a demand level. Although prices look most likely to fall this week.


EURJPY

Price Trend: Neutral


There has been no distinct trend in the pair, even in face of the consolidation we have been seeing in the pair since the last month of last year. At present, the EURJPY is trying to push up, but the move so far has been really weak. It is likely these attempts to push up may turn out to be fakeouts if prices don't breach the supply zone located at 125.00. On the other hand, we expect the EURJPY to form a downtrend should prices fall below 120.00, a very crucial demand zone.


USDCHF

Price Trend: Bullish


The trend pushed downwards the previous week most particularly from January 3rd. Prices went on to finish below the resistance level located at 1.0200 making an impressive bounce back. The decline in the USDCHF last week challenged the existing uptrend. But for a solid bearish confirmation pattern to be formed in this pair, prices must break past the very critical psychological level located at 1.0000.

 

[vicknic]

Forex Analysis and News for Major Currency pairs January, Week 3

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Here is the market outlook for this week:

EURUSD

Price Trend: Bullish

The EURUSD made reasonable gains last week. This push up in prices had brought about an uptrend. Now the fact that the pair last week closed above resistance line located at 1.0600 has established the possibility that the EURUSD could still rise as far high as 1.0650, 1.0700 even pushing as far as to 1.0750 is across the next three days. There is some level of choppiness in price movement for now which may weaken the uptrend.

EURJPY
Price Trend: Bearish

Across the last few weeks, the trend has been neutral for the EURJPY. Last week, the pair attempted to pull down heavily. When measured against the USDJPY, the push lacked considerable strength although a downtrend is already forming. But should the EURJPY eventually move above 123.00 a very significant supply level, the trend will then return to the being neutral. On the other hand should the pair pull farther below 121.00, the downtrend is then getting stronger.


GBPUSD


Price Trend: Bearish


There was sideways movement in the GBPUSD last week, although pair had made attempts to turn around in an uptrend. For this we see that the attempted push up in the GBPUSD will not really last long as such is only a better opportunity to sell. Across the next three days, the pair may reach the distribution territories seen at 1.2150, 1.2100 even another distribution territory at 1.2050.





USDJPY


Price Trend: Bearish


Lasts week, the USDJPY suffered a decline of over 340 pips. This drop established a strong Bearish Confirmation Pattern; there is a strong possibility that the decline would continue this week. We expect continuity in the decline this week, dropping as far as 114.00, 113.50 even dropping as low as 113.00, all these three points are demand levels. Although there is still the possibility that the USDJPY may make attempt to push up, the chances are low that such push would cancel the Bearish Confirmation Pattern we are having now for the pair. The most likely chance that this will happen is when the pair breaks past 118.00 which is a very crucial supply level.


USDCHF

Price Trend: Bearish


Despite the very light attempts to pull back, the trend has turned to a downtrend after the pair had fallen down as far as 200 pips all the way from 1.0247 which is the weekly high. Even in face of obvious downtrend, the pair has not broken below 1.0000, a crucial psychological level, although this might happen across the next three days. Thus it is not very advisable to buy the USDCHF at the moment.

 

[vicknic]

Forex Analysis and News for Major Currency pairs February, Week 1


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Here is the market outlook for this week:

EURUSD

Price Trend: Bullish

Across the first three days of last week, the EURUSD was flat. The currency pair made attempts to keep above 1.0750 (which is a resistance lines) but the pair failed, this threatened the uptrend. So far since the start of 2017, the EURUSD has been enjoying an increase. This has turned the trend to an uptrend but we don't really expect this to last across the coming month. It is even possible for the trend to change to a downtrend in course of the next four days as there is the possibility of the EUR dropping down against its major rivals in exception of the Japanese yen.


EURJPY

Price Trend: Bullish

For this week, it is likely prices may push up as the trend is at the moment an uptrend. But on the longer term, the pair may end up becoming neutral. The trend may change from being an uptrend when the yen reasonably gets weaker. For the month of February, the pair may possibly rise by over 450 pips although in course of this, it is possible there may be temporary pull backs.


GBPUSD

Price Trend: Bullish

Last week, the GBPUSD experienced a 280 pips increase. This impressive rise dragged the currency pair to the distribution territory located at 1.2650 before the brief pullback the pair experienced on Thursday. The GBPUSD has been enjoying a strong run of form having gained over 630 pips since the low it had dropped to two weeks ago. However there is the possibility that the uptrend would soon halt as many of GBP pairs are dragging down into a downtrend for this upcoming month of February. It is thus possible that the GBPUSD my rise up to 1.2700, 1.2750 even as far as 1.2800; all which are distribution territories. This could be hampered as the chances are really high that the pair may fall in this upcoming month of February.


USDJPY

Price Trend: Bearish

The fall in prices for the pair which actually began at the beginning of the year has not stopped yet. The sustained fall in prices had brought about the formation of a Bearish Confirmation Pattern. But by last week Thursday, prices turned around up such that by Friday, the pair has closed at 115.00, which is a demand level. For this new week, should traders continue buying the USDJPY, the USDJPY may push up to the supply levels located at 116.00 even up to 117.00. This may eventually change the trend to an uptrend.


USDCHF

Price Trend: Bearish

Last week there was sideways movement in the USDCHF, with the USDCHF attempting to pull below the resistance level located at 1.0000. Across the next four days, it is possible prices may try to push above 1.0000 but the chances are bigger that the pair would fall this week. So far since the start of 2017, the USDCHF has been on a sustained downtrend therefore it is very likely the downtrend would continue this next month as we expect the CHF to get stronger. Although there may be temporary rise in the pair owing to possible decline in the EURUSD, the long term trend however remains a downtrend.

 

[vicknic]

Forex Analysis and News for Major Currency pairs February, Week 2

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Here is the market outlook for this week:

EURUSD

Price Trend: Bullish

Last week despite the pair rising to the resistance line located at 1.0800, the pair had no success in keeping above it although it severally tried to. This is however well needed for the trend to continue being an uptrend and should it not succeed in doing this, the EURUSD would fall notably.

EURJPY
Price Trend: Neutral

At the moment the trend is neutral but when we look at smaller charts, the trend is no longer neutral but becomes an downtrend even considering that many JPY pairs are likely to increase this week. It is possible for prices to briefly touch the demand level located at 120.50 even down to the levels located at 120.00. However there is the possibility of the pair also making a gain of over 195 pips across the next three days.


GBPUSD
Price Trend: Bullish

There were many attempts by the GBPUSD to pass 1.2700 ( which is a notable distribution territory) but the GBPUSD failed. For the trend to remain an uptrend, the GBPUSD needs to make a stretch of gains but should prices drop more, then the trend may eventually be reversed to a downtrend. Although it is likely given that the possibility is real that most GBPUSD pairs would be going down this February.


USDJPY
Price Trend: Bearish

At the moment, the trend is a downtrend as the pair had lost over 450 pips with the USDJPY driving closer to demands level locates at 111.00. It is possible this level could be breached. The chances are reasonably high in the next three days given that JPY pairs may enjoy an increase. Thus the chances are still there of the pair rising despite the trend been a downtrend.

USDCHF
Price Trend: Bearish

Since 2017 began, the USDCHF has been on a decline and across January, the pair had lost over 340 pips. This would continue with the EUR on a rise and the falling condition of the USDCHF would only change should the EURUSD suffer a significant decline. But this is not really likely to happen considering that the CHF has high possibility of rising for the month of February, it is not very likely that the USDCHF would see increases this week.

 

[vicknic]

Forex Analysis and News for Major Currency pairs February, Week 3

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Here is the market outlook for this week:

EURUSD
Price Trend: Bearish

Just this previous week, prices had gone down past the resistance level located at 1.0650. So far for the month of February, the trend has been basically a downtrend. With this in mind, it becomes very possible that the EURUSD may fall down across the next three days as far down as the support line located at 1.0500. For the trend to change from a downtrend, prices must rise as far as 1.0800, which is a crucial resistance level.


EURJPY
Price Trend: Bearish

Between the first three days of last week, the EURJPY suffered a decline of over 170 pips testing 119.50 which is a demand level. Since then prices have made attempts to pull up but the attempt was not strong enough. These up and down movement will go on until a strong move occurs long enough in one direction. It is more likely this movement will be up, thus it is not too advisable to hold short positions for a long time.


GBPUSD
Price Trend: Neutral

Last week prices were moving sideways, moving into an equilibrium phase despite the obvious volatility that occurred last week Tuesday. It is very possible that the equilibrium phase will continue for this week, chances are high that the GBPUSD will experience a breakout by the ending of February which will most likely pull prices down. Generally the trend for most GBP pairs is still a downtrend and it is very possible the GBPUSD may experience pressure from buying.


USDJPY
Price Trend: Bearish

Prices tried to move up on last week but it was not enough to change the trend. For now the trend remains a downtrend, therefore it is very likely prices may test 112.50 as well as 112.00 (both of which are demand levels). However there is still the possibility that prices may push up this week most particularly for JPY pairs. Thus it is likely JPY pairs may begin to rise anytime this week.


USDCHF
Price Trend: Bearish

For this pair, the USDCHF is an uptrend on the short term while been a downtrend on the medium term. The short term uptrend was formed when prices had moved up to the resistance level located at 1.0050 all the way from support level located at 0.9900. Should prices move up further past 1.0150, a Bullish Confirmation Pattern will be formed. Despite the fact that the trend is generally a downtrend, there is yet the possibility of prices moving up especially since the USDCHF has moved past the crucial 1.0000 level.

 

[vicknic]

Forex Analysis and News for Major Currency pairs February, Week 4

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Here is the market outlook for this week
EURUSD

Price Trend: Bearish

Price for the EURUSD dropped down for the first three days of last week. This early decline pulled prices down below the support line located at 1.0550. The EURUSD turned around the decline after this managing to push up to the resistance line seen at 1.0650 before suffering slight pushbacks on Friday last week. In view of this, it is expected that the decline extends into this week with a stronger possibility that prices may drop down as far as 1.0550 even further down to 1.0450.


EURJPY
Price Trend: Bearish

Looking on a longer term, you see that the pair is experiencing a downtrend, although within the next few days the trend looks neutral. Following its consolidation last week, the pair had dropped down by over 115 pips, this is much in line with the decline it has been facing when February began. It is verb possible for this decline to continue yet also is it possible for JPY pairs to rise.



GBPUSD
Price Trend: Neutral
For the last fourteen days, it has been observed that there has been a sideways movement in the GBPUSD although the general lack trend has not yet changed from a downtrend but the trend most recently has been neutral. These sideways movement will however end when there is a strong movement either up or down. However if you look closer you will see the greater possibility of the neutral trend finishing on a downtrend. For this, it is more likely on the longer term for prices to drop down.

USDJPY
Price Trend: Bearish

Prices had been enjoying gains since last week Wednesday; in fact these gains started as far as February 9. However after last week Wednesday, the USDJPY started to pull down such that by Friday the pair has already dropped below 113.00 ( which is a demand level) thus forming a bearish confirmation pattern. Looking at the next few days this week, there is the possibility the USDJPY may reach the demand levels located at 112.50 even down to the demand level located at 111.50. However we are still hoping that prices would rise before February finishes.

USDCHF

Price Trend: Bearish

It is quite strange that the USDCHF is facing a downtrend at the same time as the EURUSD. Well this is not that impossible considering the fact that at times the CHF makes gains that keeps the USDCHF down. Well there is not much significance to the 1.0000 level at the moment as prices have been jumping above and below it carelessly. At this point, the USDCHF may only push up if its counterpart the EURUSD pushes up too reasonably.

 

[vicknic]

Forex Analysis and News for Major Currency pairs March, Week 1

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Here is the market outlook for this week:

EURUSD

Price Trend: Bearish

There was a downward movement in this pair the previous week as prices went down attempting to break through the support level located at 1.0500. But towards the end of the trading week, prices made reasonable recovery pulling up back. This push up does not really suggest an uptrend but just a better opportunity to sell. This week we expect prices to drop down back to the support level located at 1.0500; it is even possible that prices may fall down more past that point. At the moment we can say the trend is bearish and may extend into early March.


EURJPY
Price Trend: Bearish

For the EURJPY, the pair is at the moment experiencing a notable downtrend. So far for the month of February, the EURJPY has fallen down by 350 pips. Just last week the pair suffered a drop of over 140 pips which pulled the pair below 118.50 where there is a supply zone. Looking further into this week, we expect that the demand zones we have at 118.00 as well as the demand zone at 117.50 will be breached. The exception to this is that the Japanese yen gets weaker. This is actually likely in the month of March.



GBPUSD
Price Trend: Neutral

For now the trend is yet neutral. For over three weeks, the GBPUSD has been hovering around the region of 1.2350 (an accumulation territory) as well as the distribution territory located at 1.2600. Thus we see that it is required for prices to fall below the accumulation territory or at least push above the distribution territory for there to be a change in the trend. This next month we expect GBP pairs to be facing more downward movements. And then possibly by the ending of March, prices may attempt to pull up.


USDJPY
Price Trend: Neutral

Looking on the short term we see that the pair is a downtrend but if we look on the longer term we see that the trend is really neutral. Early last week, there was consolidation of the pair only for the USDJPY to fall down by the end of last week. This brought about the formation of a short-term Bearish Confirmation Pattern. This could push prices up to the demand levels located at 111.50 and 111.000. Also it possible prices may still go up as there is a solid possibility of the yen getting stronger this next month.


USDCHF

Price Trend: Bullish

At the moment the trend is an uptrend but the uptrend is not too strong as prices have only managed to go up by only 200 pips for the month of February. Prices for a short period of time attempted to climb on top of the resistance level located at 1.0100. But by the end of the week,prices fell down although the trend is yet an uptrend. This would however change once EURUSD pushes down.

 

[vicknic]

Forex Analysis and News for Major Currency pairs March, Week 2


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Here is the market outlook for this week:

EURUSD

Price Trend: Bearish
The previous week, there was a downward movement in this currency pair. This move pulled the pair down to the support line located at 1.0500 and from there the EURUSD bounced up by the end of last week. But this move up should not be seen as signal for a change to an uptrend. Rather it should be viewed as a better opportunity to sell. For now it can be seen that the trend is still a downtrend. With this in mind, we can say that the pair may consequently fall dropping down to 1.0450 even down to 1.0350 all which are support levels.


EURJPY

Price Trend: Bullish

Last week prices finished above 121.00 which is a demand zone. This marks a push up from 118.50 which is another demand zone. This amounts to a gain in the pair of over 250 pips. For now there is a clear Bullish Confirmation Pattern on the EURJPY. Considering this, it becomes very possible that the EURJPY may push further up to 122.50 which is a demand zone.


GBPUSD

Price Trend: Bearish

The previous week, the GBPUSD dropped down by over 190 pips. This pushed the pair below 1.2250 (an accumulation territory) after which prices pulled up a bit. With the present trend in mind, we can therefore say the move up in this pair is only for a short while. Across the next few days,it is possible that the GBPUSD may fall down to 1.2200 even past down further to 1.2150 all which are accumulation territories. This fall may extend to other GBP pairs like the GBPAUD.



USDJPY

Price Trend: Bullish

The USDJPY has pushed up to the supply level located at 114.50 leaping from the demand level which is located at 112.00. For now the JPY is not showing impressive strength, thus we see that there is the chance prices may rise up to 115.50 even pushing further up to 116.00. Should this happen, we could even expect the uptrend to extend longer possibly into next week.


USDJPY

Price Trend: Bullish

The pair has not been too strong of late, but the previous week, the USDCHF impressed by rising above 1.0050 a crucial support level. We expect further increase in this pair so long the downtrend in the EURUSD is sustained. Going into further details, if the EURUSD can drop down reaching the resistance level located at 1.0100 then the possibility arises for the USDCHF to push up to 1.0200. The trend will however turn a downtrend should prices drop below the very crucial support level we have at 1.0000.

 

[vicknic]

Forex Analysis and News for Major Currency pairs March, Week 3


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Here is the market outlook for this week:

EURUSD

Price Trend: Bullish

For the first four days of last week, there was a downward movement in this pair. But by Friday, this pair pulled up pushing as far as attempting to break above the resistance level located at 1.0700. Such increase had reversed the trend for now to an uptrend. For this week, it is very likely prices may push up further. It is thus very possible that the EURUSD may rise up this week as far as the resistance line located at 1.0800.


EURJPY

Price Trend: Bullish

In similarity with the USDJPY, this pair exhibited sideways movement the previous week following this up with an increase in the pair. So far prices recorded a push up of over 275 pips (measuring from 120.01, a weekly low) to close at 122.51. For now we can see a bullish confirmation pattern, and coupled with the fact that the euro is doing very well at the moment, we expect more gains from this pair. It is likely this week, the pair may push up by more than 190 pips.


GBPUSD

Price Trend: Bearish

The GBPUSD suffered a decline of over 130 pips by last week. This had brought about the formation of a strong Bearish Confirmation Pattern. Considering all this, we don't really expect the GBP to record gains against other currencies like the AUD, NZD nor even the CHF. Yet it may not decline against the American dollar owing to the lack of strength expected to be manifested by the dollar this week. The pair may make some gains this week bearing in mind the opposition located at the accumulation territory we have at 1.2100.



USDJPY

Price Trend: Bullish

By the end of last week, prices started moving up showing sideways movement earlier in the week. So for now the trend is an uptrend, although the trend is not really a strong uptrend. Examining it further we see that it is possible prices may continue their climb up for this pair considering that by Friday last week, the USDJPY had closed under 115.00 which is a significant supply level. Thus the trend for the USDJPY is an uptrend although it is likely the USD may weaken in the next coming days. For now we have demand levels located at 113.50 as well as another significant supply level located at 155.00.

USDCHF

Price Trend: Bullish

The trend for now is an uptrend, although it is not too strong. The fell down last week Friday with expected weakness in the American dollar for this week. This pair will struggle to rise so long the EURUSD is on the increase too. Considering the expected weakness in the dollar, we are expecting the pair to USDCHF to target 1.0000 a very crucial support level. So far the pair has recorded very little success in its push to climb above 1.0150. We even expect this line to greatly resist any push up by this pair.

 

[vicknic]

Forex Analysis and News for Major Currency pairs March, Week 4


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Here is the market outlook for this week:

EURUSD

Price Trend: Bearish

From Monday to Tuesday last week, the EURUSD experienced a pull down which attempted to push the currency pair below 1.0600 (where there is a support line). By Wednesday the pair began ascending, moving on to record a gain of over 170 pips by the end of the trading week. Across this week, there is the possibility that prices will continue their push up even as far as 1.0750 which is a significant resistance level. Yet there is still the possibility that prices may still fall before the end of the week.

EURJPY

Price Trend: Neutral

The EURJPY experienced a decline of over 145 pips the previous week. This was quite contrary to the existing trend which was an uptrend. This had pushed the trend back to neutral. For this week there is the possibility that the EURJPY may move towards 120.50 even further down to 120.00 (all which are demand zones). But considering that the trend for most JPY pairs is still an uptrend, we could have the EURJPY pushing up when the Japanese yen weakens. This is possibly before March finishes.


GBPUSD

Price Trend: Bullish

The US dollar was notably weak inspiring the pair to enjoy a gain of 250 pips. Prior to this, the pair had found it difficult to exit the accumulation territory located at 1.2150. For now, so long the dollar doesn't gain back its strength, the trend for the pair is an uptrend. The exception to this is the dollar regaining its strength.


USDJPY

Price Trend: Bearish


From Monday to Wednesday last week, the USDJPY had experienced consolidation, but as the American dollar weakened, the currency pair saw a decline of over 245 pips falling down from the supply level located at 115.00 to the demand level located at 112.50. Across the next few days, it is very possible for the decline to continue even spilling into the following week.

USDCHF

Price Trend: Bearish

For the first three days of the previous week, there was a consolidation in the USDCHF. By Thursday the pair experienced a vibrant bearish confirmation pattern such that it attempted to pull below 0.9550 where there is a support level. Now the USDCHF would struggle to record any reasonable gains should the EURUSD be making gains. But should the EURUSD be suffering a decline, it becomes very possible the USDCHF would take advantage and spring up significantly. Such run of gains from the USDCHF may spread into the following week.

 

[vicknic]

Forex Analysis and News for Major Currency pairs March 28- 31


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Here is the market outlook for this week:

EURUSD

Price Trend: Bullish

Even in face of the brief consolidation the pair experienced last week, the EURUSD impressively maintained its uptrend. The previous week, prices had gone up to 1.0800 (where there is a resistance line); and then by the end of the week there was sideways movement in the pair. The EURUSD struggled repetitively to overcome this resistance level but it didn't make it. Across the next four days however, this is possible. There is the increasing possibility of the pair falling across this week. The exception to this is the US dollar getting weaker against a strengthening euro.


EURJPY

Price Trend: Bearish

The pair experienced a drop of over 175 pips the previous week. This decline in the EURJPY is over two weeks old and in this span, the EURJPY had lost more than 300 pips dropping as far as 119.50 where there is a demand zone. For now the trend is rightly bearish as we expect the pair to drop down to 118.50. But before March finishes, there is the chance of prices turning up again. This increase is generally expected in JPY pairs.


GBPUSD

Price Trend: Bullish

By Friday last week, there was consolidation in the GBPUSD. This came after the pair had earlier up climbed up to 1.2500. At the moment there is a clear Bullish Confirmation Pattern in the GBPUSD, we even expect further increases this week. The chances are high that across the next three days, the pair would jump by over 145 pips. Thus the pair could move up to 1.2600 even up as far as 1.2650 which are distribution territories.


USDJPY

Price Trend: Bearish
The previous week, there was a drop of over 155 pips. This amounted to 430 pips that the pair had lost so far in over two weeks. At the moment the trend is a strong downtrend and we expect the downtrend to be sustained this week.With this in mind, it is possible that the USDJPY may drop down to 111.00 (which is a demand level) and breaking past it further below. But as said the chances can not be ignored that the pair may pick up before the end of March as is expected for JPY pairs.

USDJPY

Price Trend: Bearish
So long there is selling pressure on the USDCHF, the pair would fall below the support level located at 0.9900. The previous week, the pair lost 70 pips. This pair would struggle to overcome the very critical psychological level located at 1.0000. We expect the pair to drop down to 0.9850 even further down to 0.9800 all which are support levels. This is so long the downtrend remains.

 

[vicknic]

Forex Analysis and News for Major Currency pairs April, Week 1


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Here is the market outlook for this week:



EURUSD

Price Trend: Bearish

The EURUSD experienced an increase the previous week, climbing up to reach 1.0900 (which is a resistance level). After this, the pair suffered a decline of over 245 pips. By the end of the week, prices finished in the region of 1.0650 where there is a support level. Thus looking into this week, it is likely prices will drop further even as far as the support line located at 1.0550. Therefore the trend for the EURSD is essentially a downtrend. This is almost the same trend for most EUR pairs. We can't however neglect that the pair could still make attempts to rise this week. But such temporary increases should be seen as better opportunities to sell.



EURJPY

Price Trend: Bearish

What we saw for the EURJPY for the majority of last week was consolidation more in a downtrend. Consolidation started by the 22nd of the previous month with the consolidation ending by last week Friday. By this time, prices were declining such that they finished last week under 119.00 where there is a crucial supply zone. For this week we expect the pair to fall down to 118.50 even as low as 118.00 both of which are demand zones. For the month of April, what we have is a downtrend for most JPY pairs. Thus with a weakening euro, the EURJPY will be falling too.



GBPUSD

Price Trend: Bullish

The previous week, the pair enjoyed an increase rising up to 1.2600 where there is a distribution territory. After rising to 1.2600, the GBPUSD followed this up with a decrease dropping to the accumulation territory located at 1.2400. Since then the pair has struggled without success to break past that accumulation territory, following this up with a rise towards 1.2550 where there is a distribution level. So far across the next three days, we expect that the GBPUSD climbs up to the distribution territory we have located at 1.2600 as well as another distribution territory we have at 1.2650. For this month of April, we expect heavy big moves up for this pair.




USDJPY

Price Trend: Bearish

The previous week, the pair enjoyed an increase. But such increase wasn't strong enough to change the downtrend. The USDJPY thus finished last week under 112.00 after earlier on climbing to 111.50. We had anticipated such increase of almost 160 pips. For this week however prices may attempt to rise but this will not be strong enough. The fact is that the trend still remains a downtrend for the month of April.

USDCHF

Price Trend: Bearish

The previous week, the USDCHF fell under 0.9850 where there is a support level. The pair followed this up with an increase before finishing for the week under the support level located at 1.0000. Should prices climb above the significant resistance level we have at 1.0050, this may change the trend from a downtrend. But for the month of April, this pair is largely connected to the EURUSD such that movement in the EURUSD will specify the price action for the USDCHF.

 

[vicknic]

Forex Analysis and News for Major Currency pairs April, Week 2


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Here is the market outlook for this week:


EURUSD

Price Trend: Bearish
This previous week, there was sideways movement in the EURUSD through out the week. By the end of the week, the pair finished under the resistance level located at 1.0600 only managing to stay above the support line located at 1.0550. For this week, it looks likely the EURUSD will continue sliding down although the pair will make attempts to push up. This may end up being for a short time and a better opportunity to sell. For now there is a Bearish Confirmation Pattern. Considering this, it is very possible the pair could fall down across the next four days touching 1.0500 even falling down to 1.0450.

EURJPY
Price Trend: Bearish

Across last week, the EURJPY lost over 100 pips attempting to break below 117.50 where there is a demand zone. This amounts to more than 480 pips the pair has lost in a month. Now for this week, there is a very significant demand zone at 117.00. Should prices fall below that demand zone, it becomes very possible that the decline would spill dropping down to 117.00, even as far down as 116.00 all which are demand zones.


USDCHF

Price Trend: Bullish

At the beginning of last week, there was a consolidation in the USDCHF as the pair had recorded an increase of over 75 pips. For almost two weeks now, prices have gone up far by over 250 pips. The trend for this week is an uptrend, thus we expect that prices may rise as far as the resistance level located at 1.0100. It is even possible for the pair to rise as far as 1.0150. This rise should continue unless the EURUSD gains strength reasonably.


GBPUSD
Price Trend: Neutral

Price movement last week resulted in a neutral trend. Thus there will be no stop this week to the equilibrium phase forming in the GBPUSD so long prices stay between 1.2600 and 1.2300 which is a distribution and accumulation territory respectively. It is however more likely prices may rise up as the trend for most GBPUSD pairs is generally an uptrend.



USDJPY
Price Trend: Bearish
The previous week, the USDPY experienced a consolidation between the supply level located at 111.50 and the demand level at 110.00. For the month of April, JPY pairs have a downtrend, thus it is possible for the USDJPY to slide down further should the pair break past the crucial demand level located at 111.00.