Instaforex Trading Forecasts

Forecast · January 10, 2016, 6:28pm

The USD/JPY moved southward last week; by roughly 200 pips. The price made several attempts to break the demand level at 117.50 to the downside, but with no success. The price still shows the determination to go further south, which may eventually enable it to go below the demand level at 117.50.

EUR/USD: This market went down from Monday to Wednesday; and went upwards from Thursday till the close of the market on Friday. This week would see what shall happen to the market, but the bearish bias would not be over unless the price goes above the resistance line at 1.1000, which is a formidable line.

USD/CHF: This pair experienced mixed signals last week. From Monday till Wednesday, the price went upwards, reaching the resistance level at 1.0100. However the price started coming down from Thursday, which is now a threat to the recent bullish effort. The Bullish Confirmation Pattern would hold as long as the price does not go below the support level at 0.9850.

GBP/USD: The Cable went down by additional 220 pips last week. Since December 14, 2015, the price has come down by 700 pips, which is something that favors trend following a great deal. Any rallies in the market should be seen as opportunities to sell short, because it is much more likely that the bearish trend would continue.

USD/JPY: The USD/JPY moved southward last week; by roughly 200 pips. The price made several attempts to break the demand level at 117.50 to the downside, but with no success. The price still shows the determination to go further south, which may eventually enable it to go below the demand level at 117.50.

EUR/JPY: This cross nosedived by 350 pips last week, testing the demand zone at 127.00. From that demand zone, the price bounced upwards by 200 pips, reaching the supply level at 129.00. On Friday, the price came down a bit, in the context of a downtrend. The bearish bias is valid and the upward bounce of 200 pips we saw might be another opportunity to sell short at a better price.

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Forecast · January 12, 2016, 2:36am

The GBP/USD is still in a bearish mode, and the price might go further southwards. Any rallies in the market should be seen as opportunities to sell short, because it is much more likely that the bearish trend would continue. Therefore, the accumulation territories 1.4500 and 1.4450 could be attained.

EUR/USD: The EUR/USD went down slightly on Monday, with nothing significant. This week would see what shall happen to the market, but the bearish bias would not be over unless the price goes above the resistance line at 1.1000, which is a formidable line.

USD/CHF: On Monday, this pair showed some determination to continue going upwards. It is possible that the price would test the resistance level at 1.0100, which the bulls could not breach to the upside last week. Another attempt to breach it to the upside might be witnessed this week, though that would require a significant buying pressure.

GBP/USD: The GBP/USD is still in a bearish mode, and the price might go further southwards. Any rallies in the market should be seen as opportunities to sell short, because it is much more likely that the bearish trend would continue. Therefore, the accumulation territories 1.4500 and 1.4450 could be attained.

USD/JPY: This currency trading instrument, which moved southwards last week, still shows the tendency to move further south this week. The price made several attempts to break the demand level at 117.00 to the downside, but with no success. The price still shows the determination to go further south, which may eventually enable it to go below the demand level at 117.50.

EUR/JPY: This cross moved lower on Monday, in conjunction with the extant bearish outlook. The Bearish Confirmation Pattern in the market is valid, and the price could test the demand zone at 127.00. The price could even breach that demand zone to the downside.

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Forecast · January 17, 2016, 5:56pm

The GBP/USD is one of the strongest trending currency trading instruments among the majors. The bias on the instrument is bearish and it is possible that the price would continue going downwards, reaching the accumulation territories at 1.4200 and 1.4150 this week. This bias would be valid until there is a bullish reversal of at least, 300 pips.

EUR/USD: The condition affecting the EUR/USD is quite similar to the condition affecting the USD/CHF. So the two pairs must be watched closely. Just like the latter, the bias on the former is also neutral in the near term.

USD/CHF: The bias on this pair is neutral in the near-term because the pair has not made any strong directional movement in recent times. There are short-term upswings and downswings in the market, but a predictable directional movement is anticipated this week or next week, which would most probably favor the bears.

GBP/USD: The GBP/USD is one of the strongest trending currency trading instruments among the majors. The bias on the instrument is bearish and it is possible that the price would continue going downwards, reaching the accumulation territories at 1.4200 and 1.4150 this week. This bias would be valid until there is a bullish reversal of at least, 300 pips.

USD/JPY: USD/JPY moved sideways in the most part of last week, though the price went further downwards on Friday, emphasizing the extant bearish outlook on the market (just as the case is on most other JPY pairs). It is likely that the price would continue trending further downwards this week, reaching the demand levels at 116.00 and 115.50.

EUR/JPY: In contrast to what happened two weeks ago, this cross simply moved sideways last week. There would soon be a breakout this week or next week, which would be determined by the conditions affecting the EUR. So it is rational to say that movement on the EUR/JPY cross would be determined by whatever happens to the EUR, and as a result, we may see a movement which is contrary to what other JPY pairs are doing.

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Forecast · January 18, 2016, 6:51pm

The EUR/JPY simply moved sideways on Monday. The bias is bearish in the near-term and we may see a breakout to the upside or the downside today, owing to the expected fundamental figures, which might have impact on the markets. The events affecting the Euro would surely have effects on this cross.

EUR/USD: The condition affecting the EUR/USD is quite similar to the condition affecting the USD/CHF. So the two pairs must be watched closely. Just like the latter, the bias on the former is also neutral in the near term.

USD/CHF: The bias on this pair is neutral in the near-term because the pair has not made any strong directional movement in recent times. There are short-term upswings and downswings in the market, but a predictable directional movement is anticipated this week or next week, which would most probably favor the bears.

GBP/USD: This currency trading instrument traded lower on Monday – still showing a serious determination to trend further downwards. In this market, long trades should not be opened; plus any rallies seen here should become short selling opportunities, unless a rally pushes the price upwards by at least 300 pips. This is the only situation that can threaten the bearish bias.

USD/JPY: USD/JPY moved sideways on Monday. We would still like to call attention to the extant bearish outlook on the market (just as the case is on most other JPY pairs). It is likely that the price would continue trending further downwards this week, reaching the demand levels at 116.00 and 115.50.

EUR/JPY: The EUR/JPY simply moved sideways on Monday. The bias is bearish in the near-term and we may see a breakout to the upside or the downside today, owing to the expected fundamental figures, which might have impact on the markets. The events affecting the Euro would surely have effects on this cross.

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Forecast · January 25, 2016, 2:39am

The USD/JPY tested the demand level at 116.00, and then bounced upwards by 280 pips. This is a threat to the extant bearish outlook on the market, which would eventually be rendered invalid in case the price continues going further upwards this week. The outlook on USD is bright and therefore, the USD/JPY might continue moving upwards.

EUR/USD: The EUR/USD was able to move downwards last week, closing just below the resistance line at 1.0800 on Friday. There is now a Bearish Confirmation Pattern on this pair, which means the price could begin to trend further downwards. There is a potential bearish target at the support line of 1.0750, while the resistance line at 1.0950 is a formidable barrier to the bulls.

USD/CHF: There was an upwards movement of 150 pips on the USD/CHF last week – something that has caused a clean bullish signal in the market. Since the important market level at 1.0100 is being breached upwards successfully, it might be logical to assume that the price would continue moving north. The potential targets for the bulls this week are the resistance levels at 1.0200 and 1.0250.

GBP/USD: From Monday to Wednesday, GBP/USD moved downwards by 170 pips, testing the accumulation territory at 1.4100 last week. From that territory, the price started making some bullish effort, which might not render the current bearish bias invalid unless the price moves above the distribution territory at 1.4500. This would require serious attempts from the bulls because a strong USD would make it difficult for this pair to rally this week.

USD/JPY: The USD/JPY tested the demand level at 116.00, and then bounced upwards by 280 pips. This is a threat to the extant bearish outlook on the market, which would eventually be rendered invalid in case the price continues going further upwards this week. The outlook on USD is bright and therefore, the USD/JPY might continue moving upwards.

EUR/JPY: The outlook on this market remains bearish and unchanged, though there are mixed signals in the market. It is better to stay away from this market until there is a directional signal. There may be a breakout this week, which would be influenced by the events affecting the Euro. There would be a break above the supply level at 129.00 or below the demand level at 126.50 this week.

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Forecast · January 25, 2016, 5:17pm

As long as the distribution territories at 1.4550 and 1.4600 are not breached to the upside, long trades would not be sensible on the Cable. The current shallow rally in the market could turn out to be a good opportunity to sell short. The price might thus test the accumulation territories at 1.4150 and 1.4000, which were also tested last week.

EUR/USD: There is already a Bearish Confirmation Pattern on the EUR/USD, albeit the price made a faint effort to rally on Monday. The market went upwards by a mere 40 pips, rising from the support line at 1.0800. The current bearish pattern would be logical as long as the price does not go above the resistance line at 1.0950 (which is an adamant barrier to the bulls). The outlook on the EUR (plus other EUR pairs) is bearish for this week, and thus, the price could eventually trade lower.

USD/CHF: There is still a lot of trading activities around the price level of 1.0150, which is an important price level. There is a high possibility that the price would be trading above that level this week, in order to continue the bullish journey which was started last week. The outlook on the US dollar is bright and thus, this might help the pair to move further north.

GBP/USD: As long as the distribution territories at 1.4550 and 1.4600 are not breached to the upside, long trades would not be sensible on the Cable. In fact, the current shallow rally in the market could turn out to be a good opportunity to sell short. The price might thus test the accumulation territories at 1.4150 and 1.4000, which were also tested last week.

USD/JPY: This pair merely moved sideways yesterday, though a closer look at the chart shows that the price would likely trend further upwards this week. This is a threat to the extant bearish outlook on the market, which would eventually be rendered invalid when the supply level at 119.00 is overcome. The outlook on USD is bright and therefore, the USD/JPY might continue moving upwards.

EUR/JPY: The EUR/JPY consolidated on Monday. There are demand zones at 128.00 and 127.50. There are also supply zones at 129.00 and 130.00. The price would either break above the supply zones or break below the demand zones today or tomorrow, and this would result in a directional movement.

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Forecast · January 31, 2016, 5:43pm

Last week, the USD/JPY moved sideways from Monday to Thursday, in the context of an uptrend. On Friday, January 29, 2016, the price broke upwards significantly, testing the supply level at 121.50 (a movement of 300 pips). The outlook on USD/JPY, including other JPY pairs, is bullish for this week, and for this month. It is thus expected that the USD/JPY would continue moving upwards this week.

EUR/USD: The bias on this market is neutral in the first place, because all the bulls’ effort to effect a protracted rally has been invariably frustrated by the bear’s obstinacy. Unless one is a scalper, it would be Ok to stay away from this market until there is a directional movement, which would most probably favor the bears.

USD/CHF: This currency trading instrument consolidated for the first few days of last week and then rallied further, reinforcing the existing bullish bias in the market. The price was able to go above the support levels at 1.0150 and 1.0200. The resistance level at 1.0250 has already been tested, and the market is expected to go above it, reaching the resistance level at 1.0300. There is a Bullish Confirmation Pattern in the market.

GBP/USD: It has always been said that rallies should be avoided on this pair and they should be taken as opportunities to sell short. That was exactly what happened last week. The bullish effort we saw from Monday to Thursday was frustrated by a 200-pip bearish correction that happened on Friday. In fact, the bearish journey is supposed to continue this week and this month, for the outlook on GBP pairs is bearish.

USD/JPY: Last week, the USD/JPY moved sideways from Monday to Thursday, in the context of an uptrend. On Friday, January 29, 2016, the price broke upwards significantly, testing the supply level at 121.50 (a movement of 300 pips). The outlook on USD/JPY, including other JPY pairs, is bullish for this week, and for this month. It is thus expected that the USD/JPY would continue moving upwards this week.

EUR/JPY: Just like the USD/JPY and other JPY pairs, this cross moved upwards seriously last week. Before the event of January 29, 2016, this cross was already engaged in a slow and steady upwards movement. Altogether the price went upward by 400 pips last week, before experiencing a shallow pullback on Friday. Further rally is possible as the market proffers long opportunities with pullbacks along the way.

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Forecast · February 1, 2016, 6:37pm

It is interesting to see that the GBP/USD moved upwards by 200 pips on Monday, rising from the accumulation territory at 1.4250, and almost reaching the distribution territory at 1.4450. Although the recent bearish bias still exists, it is now threatened by the price action on Monday. A further bullish movement of 200 pips would result in a new bullish bias on the market. Otherwise, this could turn out to be a rally in the context of an uptrend.

EUR/USD: Just like its GBP/USD counterpart, this pair also moved upwards on Monday, trying to reach the resistance line at 1.0900. In case the resistance line is breached to the upside, the next target for the bulls could be the resistance line at 1.1000. However, there is still a neutral bias on the market, and at least a 300-pip movement to the upside or the downside is needed to force the price out of the current neutral region.

USD/CHF: Because the EUR/USD moved upward yesterday, the USD/CHF moved lower on the same day (in an inverse correlation with each other). However, the bullish signal in the market is not yet over, unless the price breaks below the support levels at 1.0100 and 1.0050. Should this fail to happen, we might see a resumption of the bullish movement in the market.

GBP/USD: It is interesting to see that the GBP/USD moved upwards by 200 pips on Monday, rising from the accumulation territory at 1.4250, and almost reaching the distribution territory at 1.4450. Although the recent bearish bias still exists, it is now threatened by the price action on Monday. A further bullish movement of 200 pips would result in a new bullish bias on the market. Otherwise, this could turn out to be a rally in the context of an uptrend.

USD/JPY: This pair, which moved significantly upwards last week, simple moved sideways yesterday. The indicators in the chart currently support the bullish trend in the market, which is supposed to continue this week and this month. The same outlook is also possible on other JPY pairs, owing to the seasonality of this phenomenon. JPY pairs are usually strong in February of every year.

EUR/JPY: This cross moved upward slightly yesterday, recovering the shallow pullback witnessed on January 29, 2016. The price should rally further today or tomorrow, enabling the price to test the supply zones at 132.50 and 130.00. The demand zones at 130.50 and 131.00 should do a good job in resisting any bearish corrections along the way.

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Forecast · February 8, 2016, 12:35am

The USD/JPY dropped by roughly 500 pips last week, testing the demand level at 116.50. The massive drop was partly due to the perceived weakness in USD, and the bearish movement might continue this week, targeting the demand levels at 116.00 and 115.50. In view of this, long trades are not recommended until it is clear that the bulls have regained control.

EUR/USD: Owing to the surprise and unexpected stamina in the USD, this pair rose upward by over 400 pips last week. In the 4-hour chart, the EMA 11 is above the EMA 56, while the Williams’ % Range period 20 is not far from the overbought region. Even, the bearish correction that was witnessed last Friday was merely a sale in the context of a downtrend, for the price might turn further upward, targeting the resistance lines at 1.1250 and 1.1300.

USD/CHF: From the high attained on January 29, 2016, the USD/CHF dropped by 500 pips, testing the support level at 0.9900 last week. This price action has resulted in a Bearish Confirmation Pattern in the chart, which might enable the price to reach the support levels at 0.9850 and 0.9800 this week.

GBP/USD: From the low of Friday, January 29, 2016, this currency trading instrument moved upwards by 500 pips, testing the distribution territory at 1.4650. However, the price came down by 200 pips on February 5, 2016, underlining the precarious nature of the GBP. While the GBP is strong against the USD, it is weak against other currencies (GBP/CHF, GBPCAD, etc.), since the outlook on GBP pairs remains bearish for the month of February. A further southward movement of 200 pips could put an end to the extant bullish bias.

USD/JPY: The USD/JPY dropped by roughly 500 pips last week, testing the demand level at 116.50. The massive drop was partly due to the perceived weakness in USD, and the bearish movement might continue this week, targeting the demand levels at 116.00 and 115.50. In view of this, long trades are not recommended until it is clear that the bulls have regained control.

EUR/JPY: Unlike most other JPY pairs, the EUR/JPY has not moved down significantly. In fact, the bias on the cross is bullish and as long as the EUR is strong. The outlook on JPY pairs is bullish for this month, and therefore, those weak JPY pairs like GBP/JPY, AUD/JPY and NZD/JPY, might also end their southward journeys and move upwards (this week or next week). EUR/JPY might go further upwards and recover the losses it sustained last week.

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Forecast · February 8, 2016, 6:36pm

The USD/JPY dropped by roughly 500 pips last week. It also dropped by over 200 pips on Monday, from the high of the day. The bears are currently in control and therefore, long trades are not advisable until it is clear that the bearish movement is over. Right now, there is a possibility that the demand level at 115.00 would be easily breached to the downside.

EUR/USD: This pair is making attempt to go above the resistance line at 1.1200, which was overcome briefly last week before the price went below it. The EMAs 11 and 56 (plus the Williams’ % Range period 20) in the 4-hour chart, show that the “buy” signal is a valid thing in the market. Therefore, the aforementioned resistance line would be breached as the market goes further upwards.

USD/CHF: Here, the price has moved far below the EMA 11, which in turn is below the EMA 56. The Williams’ % Range period 20 is perpetually in the oversold territory. The price of the USD/CHF is now testing the support level at 0.9850, and it is likely that it would breach that support level to the downside today.

GBP/USD: The bearish movement that started on the Cable on Thursday, February 4, 2016, has become a threat to the recent bullish bias on the market. Should the price go further downward by 200 pips, that would signal the end of the bullish bias and the beginning of the bearish bias, which might enable the price to reach the accumulation territory at 1.4200 and 1.4150 (this week or next).

USD/JPY: The USD/JPY dropped by roughly 500 pips last week. It also dropped by over 200 pips on Monday, from the high of the day. The bears are currently in control and therefore, long trades are not advisable until it is clear that the bearish movement is over. Right now, there is a possibility that the demand level at 115.00 would be easily breached to the downside.

EUR/JPY: This cross has also yielded to gravity – just like other JPY pairs which are now bearish in outlook. The ongoing strength in the EUR is unable to help this cross because the JPY has lots of stamina in it. Since there is a Bearish Confirmation Pattern in the market, it is logical to assume that the southwards movement, which has started this week, would continue.

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Forecast · February 14, 2016, 4:11pm

The EUR/JPY dropped by 450 pips last week, owing to the strength in the Yen. Even the bullish effort on the EUR was unable to prevent the smooth southward movement. The price reached the demand zone at 126.00, and it could go below it despite the current upwards bounce present in the market. The upward bounce could end up being another opportunity to go short.

EUR/USD: This pair went upwards by 220 pips last week, topping at the resistance line at 1.1350, before the ongoing shallow retracement, which might proffer new long opportunities. The price is above the EMA 56 (which itself is below the EMA 11). Should the Williams’ % Range period 20 saunter into the oversold territory, another “buy” signal might be triggered.

USD/CHF: There is a strong Bearish Confirmation Pattern in the USD/CHF 4-hour chart. Price dropped by more than 250 pips last week, going briefly below the support level at 0.9700 before coming upwards a bit. Since the USD is weak against the EUR and the CHF, it is logical to conclude that the USD/CHF price would come further south this week, testing the support levels at 0.9700 and 0.9600.

GBP/USD: This Cable simply traded sideways last week, though in the context of an uptrend. There is going to be a breakout this week, which would either take the price above the distribution territory at 1.4600, supporting the recent bullish outlook; Or the price would go below the accumulation territory at 1.4350, leading to a bearish signal.

USD/JPY: The USD/JPY dropped sharply last week – in a continuation of the strong bearish bias that started on January 29, 2016.Last week, the price dropped by 600 pips (from the weekly high on Monday) before the current upward bounce. In spite of the current near-term rally in the context of a downtrend, there is still a possibility of further southerly movement.

EUR/JPY: The EUR/JPY dropped by 450 pips last week, owing to the strength in the Yen. Even the bullish effort on the EUR was unable to prevent the smooth southward movement. The price reached the demand zone at 126.00, and it could go below it despite the current upwards bounce present in the market. The upward bounce could end up being another opportunity to go short.

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Forecast · February 17, 2016, 4:51am

The GBP/USD has dropped by 200 pips so far this week, testing the accumulation territory at 1.4300. Since there is a Bearish Confirmation Pattern in the 4-hour chart, it is safe to assume that the bearish trend would continue, reaching the accumulation territories at 1.4250 and 1.4200 today or tomorrow.

EUR/USD: This pair moved sideways yesterday, consolidating to the downside. The price is now below the resistance line at 1.1200, threatening to go further south. Another movement of 150 pips to the downside would mean the end of the recent bullish outlook.

USD/CHF: the USD/CHF moved upwards on Monday, and it moved sideways yesterday, consolidating to the upside. The price is now above the support line at 0.9850, threatening to go further north. Another movement of 150 pips to the upside would mean the end of the recent bearish outlook.

GBP/USD: The GBP/USD has dropped by 200 pips so far this week, testing the accumulation territory at 1.4300. Since there is a Bearish Confirmation Pattern in the 4-hour chart, it is safe to assume that the bearish trend would continue, reaching the accumulation territories at 1.4250 and 1.4200 today or tomorrow.

USD/JPY: What this currency trading instrument is doing right now is best called an upward bounce and consolidation in the context of a downtrend. The price is below the EMA 11, which is below the EMA 56. The RSI period 14 is below the level 50. When there is a breakout in the market, it would most probably be to the downside.

EUR/JPY: by all indication, the bias on the cross is still bearish. Unless the price goes upward by 300 pips, long trades would not be rational in the market. The demand zones at 126.50 and 126.00 stand to be tested; whereas the supply zones at 129.00 and 129.50 should do a good job to prevent the bulls’ machination.

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Forecast · February 21, 2016, 5:43pm

The EUR/JPY first went upwards last Monday (February 15, 2016). On the following day, the market started dropping gradually from the high of the day, reaching the demand zone at 125.00 on Friday. This was a movement of 300 pips; plus the chances of the EUR/JPY going upwards are very slim, unless the Yen loses strength in a significant mode. The market could thus reach the demand zones at 124.50 and 124.00 this week.

EUR/USD: The EUR/USD moved lower on Monday and then consolidated throughout last week. A closer look at the market shows that the ongoing consolidation is to the downside. Since the EMA 11 is below the EMA 56 and the Williams’ % Range period 20 is not far from the oversold region, it could be deduced that the current consolidation to the downside is a threat to the recent bullish outlook, which could invalidate it as soon as the price goes below the support line at 1.1000.

USD/CHF: This pair moved upwards by 200 pips last week, reaching the resistance level at 0.9950 and meeting a great opposition there. Since there is a new Bullish Confirmation Pattern in the chart, further northward movement is possible this week, which would reinforce the extant Bullish Confirmation Pattern.

GBP/USD: The Cable dropped by 250 pips last week and later met a stubborn opposition at the accumulation territory of 1.4250, which has resisted further southward movement in spite of attacks into it. The bears must do all they can to break that accumulation territory to the downside; otherwise the noteworthy rally we saw on last Friday, February 19, 2016, could end up being a threat to the bearish bias on the market.

USD/JPY: Here, what happened on Monday, February 15, 2016 was just an upward bounce in the context of an uptrend. The market has moved south gradually since then, dropping by 220 pips and thus reinforcing the extant bearish bias in the market. The demand levels at 111.50 and 111.00 could be tried this week.

EUR/JPY: The EUR/JPY first went upwards last Monday (February 15, 2016). On the following day, the market started dropping gradually from the high of the day, reaching the demand zone at 125.00 on Friday. This was a movement of 300 pips; plus the chances of the EUR/JPY going upwards are very slim, unless the Yen loses strength in a significant mode. The market could thus reach the demand zones at 124.50 and 124.00 this week.

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Forecast · February 23, 2016, 3:46am

Like some other major pairs, the USD/CHF is now moving in a predictable manner. The bullish effort of last week resulted in a “buy” signal; and the market went further upwards by 100 pips yesterday, testing the psychological level at 1.0000. The bulls should be able to push the price above that psychological level, as the market goes further north.

EUR/USD: This pair is also moving in a predictable manner. The bearish effort of last week resulted in a “sell” signal; and the market went further downwards by 130 pips on Monday, almost testing the support line at 1.1000. The bears should be able to push the price below that great support level, as the market goes further south.

USD/CHF: Like some other major pairs, the USD/CHF is now moving in a predictable manner. The bullish effort of last week resulted in a “buy” signal; and the market went further upwards by 100 pips yesterday, testing the psychological level at 1.0000. The bulls should be able to push the price above that psychological level, as the market goes further north.

GBP/USD: The GBP/USD dropped further by 230 pips on Monday, resulting in a stronger Bearish Confirmation Pattern in the market. GBP pairs are now bearish, and it is possible that the accumulation territories at 1.4050 and 1.3050 would be slashed this week (by the GBP/USD), as the bearish pressure in the market persists.

USD/JPY: There is still a bearish indication on the USD/JPY. The EMA 11 is below the EMA 56 in the 4-hour chart, while the RSI period 14 is below the level 50. This means that the price could go further downwards. The demand levels at 112.50 and 112.00 being potential targets this week.

EUR/JPY: On February 22, 2016, this cross traded lower, due to the weakness in the EUR and the stamina in the Yen. As said earlier, the chances of JPY pair rallying significantly this week are very slim. In the face of this fact, it is likely that the USD/JPY would continue to trend further and further downwards.

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Forecast · February 29, 2016, 3:12am

GBP/USD fell by almost 440 pips last week, almost reaching the accumulation territory at 1.3850. This has reinforced the existing bearish outlook on the market, and there are chances that the GBP/USD would continue going south this week and next. Generally, GBP pairs are bearish (as forecasted earlier) and they would remain under selling pressure until the end of March 2016.

EUR/USD: This pair dropped by 200 pips last week. It first dropped on Monday, and then traded sideways till Friday, and then dropped further that Friday (February 26, 2016). This is because of the weakness in the EUR, which has caused a Bearish Confirmation Pattern in the chart. The EMA 11 is below the EMA 56 in the 4-hour chart; which means the pair could trade further south.

USD/CHF: USD/CHF simply traded sideways last week, showcasing short-term oscillation between the support level at 0.9850 and the resistance level at 1.0000. There is going to be a break above that resistance level or below that support level this week, although a break below the support level is more likely, because the resistance level at 1.0000 is a great barrier and because EURUSD could be seen making some bullish attempt this week.

GBP/USD: GBP/USD fell by almost 440 pips last week, almost reaching the accumulation territory at 1.3850. This has reinforced the existing bearish outlook on the market, and there are chances that the GBP/USD would continue going south this week and next. Generally, GBP pairs are bearish (as forecasted earlier) and they would remain under selling pressure until the end of March 2016.

USD/JPY: This currency trading instrument went downwards from Monday to Wednesday, when further bearish movement was rejected and the price went upward by at least, 250 pips. This has resulted in a “buy” signal in the market. The EMA 11 has almost crossed the EMA 56 to the upside and RSI period 14 is above the level 50. The currency trading instrument could be seen trading further and further upwards this week and next.

EUR/JPY: This cross trended downwards by almost 300 pips last week, reaching the demand zone at 122.50 on Wednesday (February 24, 2016). The cross has been corrected to the upside – by over 200 pips. This kind of correction is also visible on other JPY pairs, which would make commendable bullish efforts in March 2016.

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Forecast · February 29, 2016, 6:24pm

The EUR/JPY traded lower on Monday, reinforcing the existing bearish bias. The demand zone at 122.50 has been tested and while it might be retested (and even breached to the downside), we would see sincere efforts from the bulls, trying to push up the price. The bulls’ effort might pay off before the end of the week.

EUR/USD: The EUR/USD traded further south on Monday, making more conspicuous the bearish movement that started a few weeks ago. It is possible that the bulls could succeed in pushing the price upwards this week or next; but right now, the bearishness in the market suggests that short trades are logical.

USD/CHF: This pair tried to move upward on Monday, but there was nothing significant in this. However, the EMA 11 is above the EMA 56, while the Williams’ % Range period 20 is around the overbought region. There is a probability that the price would continue moving upwards, reaching the resistance levels at 1.0050 and 1.0100, for the resistance level at 1.0000 is now vulnerable.

GBP/USD: The GBP/USD was volatile yesterday, with no clear movement. There is a Bearish Confirmation Pattern in the market and it is much more likely that the price would continue going down lower and lower. Generally, GBP pairs are bearish (as forecasted earlier) and they would remain under selling pressure until the end of March 2016.

USD/JPY: This currency trading instrument did not make any significant movement on Monday (February 29, 2016). The market is not yet OK for swing trading until the price either goes above the supply level at 114.50 or below the demand level at 112.00. A movement to the upside is more likely.

EUR/JPY: The EUR/JPY traded lower on Monday, reinforcing the existing bearish bias. The demand zone at 122.50 has been tested and while it might be retested (and even breached to the downside), we would see sincere efforts from the bulls, trying to push up the price. The bulls’ effort might pay off before the end of the week.

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Forecast · March 6, 2016, 3:41pm

The GBP/USD moved upwards by 400 pips last week, rising from the accumulation territory at 1.3850 and reaching the distribution territory at 1.4250. This upward movement was strong enough to invalidate the recent bearish outlook on the pair, and there is a clean bullish signal in the market. The GBP/USD is supposed to continue moving upwards this week.

EUR/USD: Last week, this pair moved down on Monday. It moved sideways from Tuesday to Thursday and afterward rose steeply by 160 pips. This kind of movement is a threat to the recent bearish bias, which would no longer be logical once the price moves further north by 200 pips this week (something which is very much likely).

USD/CHF: This currency trading instrument traded largely sideways last week, not going above the resistance level at 1.0000 and below the support level at 0.9900. There is bound to be a breakout this week, which would take the price below the aforementioned support level or above the resistance level. Since it is expected that the EUR/USD would continue going upwards, the USD/CHF would most probably go downwards.

GBP/USD: The GBP/USD moved upwards by 400 pips last week, rising from the accumulation territory at 1.3850 and reaching the distribution territory at 1.4250. This upward movement was strong enough to invalidate the recent bearish outlook on the pair, and there is a clean bullish signal in the market. The GBP/USD is supposed to continue moving upwards this week.

USD/JPY: Since this currency trading instrument moved sideways last week, the bias on the market has turned neutral in the medium-term. Unlike other JPY pairs, the USD/JPY has not traded upwards because the Greenback is currently weak. This week, however, would determine the next direction in the market.

EUR/JPY: There is a bullish signal leading to a Bullish Confirmation Pattern on this cross, which closed at 125.23 on Friday, March 4, 2016. Since the EMA 11 has crossed the EMA 56 to the upside and the RSI period 14 has moved above the level 50, it is assumed that the cross would continue trending upwards, just as it is expected of some other JPY pairs.

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Forecast · March 7, 2016, 3:26pm

EUR/USD: Beyond a reasonable doubt, there is a bullish signal on the EUR/USD. In spite of attacks from the bears, the pair managed to trade higher on Monday, leading to a Bullish Confirmation Pattern in the chart. The next targets the price might reach this week are located at the resistance lines of 1.1050 and 1.1100.

USD/CHF: This currency trading instrument has been trading largely sideways since last week, not going above the resistance level at 1.0000 and below the support level at 0.9900. There is bound to be a breakout this week, which would take the price below the aforementioned support level or above the resistance level. Since it is expected that the EUR/USD would continue going upwards, the USD/CHF would most probably go downwards.

GBP/USD: The bulls have been making commendable effort in pushing the Cable further upwards – something which occurred on Monday as well. The price first got corrected lower, but it later moved higher, rendering the effort of the bears useless. The EMA 11 is above the EMA 56 as the RSI period 14 goes above the level 50. The best line of action is to continue seeking long trading opportunities on the Cable.

USD/JPY: This currency trading instrument has been moving sideways since last week, the bias on the market has turned neutral in the medium-term. Unlike other JPY pairs, the USD/JPY has not traded upwards because the Greenback is currently weak. This week, however, would determine the next direction in the market.

EUR/JPY: There is a bullish signal leading to a Bullish Confirmation Pattern on the EUR/JPY cross. Since the EMA 11 has crossed the EMA 56 to the upside and the RSI period 14 has moved above the level 50, it is assumed that the cross would continue trending upwards, just as it is expected of some other JPY pairs. So a strong northward movement is expected soon.

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Forecast · March 13, 2016, 7:20pm

The EUR/JPY ended up being bullish last week, having formed a Bullish Confirmation Pattern in the chart. The supply level at 127.00 has been tested and it would be tested again, as the bulls are determined to continue pushing the price upwards. The price is supposed to continue moving upwards this week, reaching the supply zones at 127.50 and 130.00.

EUR/USD: This pair ended up being bullish last week, especially as the price skyrocketed from the low of 1.0821, which was formed on Thursday (March 10, 2016). From that weekly low, the price skyrocketed by almost 400 pips, bringing an abrupt end to the recent bearish outlook on the market. There is now a “buy” signal on the EUR/USD, for the price could continue moving higher this week.

USD/CHF: The USD/CHF ended up being bearish last week, especially as the price fell from the high of 1.0092, which was formed on Thursday (March 10, 2016). From that weekly high, the price fell like a stone, by almost 280 pips, bringing an abrupt end to the recent protracted consolidation in the market. There is now a “sell” signal on the USD/CHF, for the price could continue moving lower this week. Generally, the USD would be facing attacks at many fronts, since the GBP/USD, EUR/USD and especially, the NZD/USD, would be seen trending upwards this week.

GBP/USD: In spite of occasional shallow corrections on the Cable, the bulls managed to push up the price by roughly 250 pips last week, as the price closed at 1.4383 on Friday, March 11, 2016. The EMA 11 is now above the EMA 56 as the RSI period 14 is above the level 50. Normally, the price should continue going upwards this week.

USD/JPY: What this currency trading instrument experienced last week could best be called “wild volatility.” There were sharp upswings alternated by sharp downswings in the chart, with no clear victory between the bull and the bear. However, there should be a directional movement this week, which would most probably favor the bulls.

EUR/JPY: The EUR/JPY ended up being bullish last week, having formed a Bullish Confirmation Pattern in the chart. The supply level at 127.00 has been tested and it would be tested again, as the bulls are determined to continue pushing the price upwards. The price is supposed to continue moving upwards this week, reaching the supply zones at 127.50 and 130.00.

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Forecast · March 14, 2016, 8:17pm

The GBP/USD traded lower on Monday, in the context of an uptrend. Unless the accumulation territory at 1.4200 is breached to the downside, the bullish bias on the market cannot be in jeopardy. It is expected that the price would rise from here, attaining the distribution territories at 1.4400 and 1.4450 this week.

EUR/USD: The EUR/USD has been coming down gradually since last Friday – having done so by 120 pips. Unless the price comes down by another 150 pips, the current price action would be taken as a mere pullback in the context of an uptrend, for the EMA 11 is above the EMA 56 as the Williams’ % Range period 20 is not far from the overbought region. Today or tomorrow would determine the next direction in the market.

USD/CHF: On Monday (March 14, 2016), this pair moved upwards by 70 pips. This upwards movement pales into insignificance when compared to the bearish movement that happened last Friday. There should be a directional movement this week: either to the upside or to the downside. Otherwise the market could go into a neutral phase again.

GBP/USD: The GBP/USD traded lower on Monday, in the context of an uptrend. Unless the accumulation territory at 1.4200 is breached to the downside, the bullish bias on the market cannot be in jeopardy. It is expected that the price would rise from here, attaining the distribution territories at 1.4400 and 1.4450 this week.

USD/JPY: What this currency trading instrument experiences could best be called “wild volatility.” There are sharp upswings alternated by sharp downswings in the chart, with no clear victory between the bull and the bear. However, there should be a directional movement this week, which would most probably favor the bulls.

EUR/JPY: There is still a Bullish Confirmation Pattern in the chart representing this cross. The supply level at 127.00 has been tested and it would be tested again, as the bulls are determined to continue pushing the price upwards. In spite of the present bearish correction, the price is supposed to continue moving upwards this week, reaching the supply zones at 127.50 and 130.00.

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