IZATRADE: FORECAST FOR THE BEGINNING OF NEXT WEEK WITH THE PROSPECT FOR WEEKLY PERIOD (17-21.11.2014.)
Dear readers,
As a rule, my current forecast will contain information about how my last forecast worked out and forecast for the coming week.
Results of the last forecast
The last forecast had worked for 43,4% (good) /56,6% (bad). The directions of the pairs were good with forecast for the first 1-2 days of the last week. As expected, Euro came back to the strength currencies list. It is necessary to note, that USD is losing its confidence and for the current time (data from Friday’s end) it is exceeding European currencies for a little.
Graphical analysis of the last forecast is given below for better understanding.
Forecast for the beginning of next week with the prospect for the end of week (21.11.2014г.)
Strong currencies
USD dollar is still the strongest currency, but seems it will soon lose its strength. It has a strength value of +4 (max. possible value is +7) among strong currencies. Then Euro (+3), British Pound (+3), Swiss Franc (+2), and Canadian Dollar (+1) are in the strong currencies list too.
Weak currencies
Australian dollar is still keep its position with a weakness value of -7 (min. possible value is -7). New Zealand Dollar (-5), Japanese Yen (-1) are in the weak currencies list too.
I have noticed that Australian dollar sometimes moves one direction for a long time, so we need additionally confirmation to short it.
Summary and recommendations for trading
Taking into account abovementioned, we can make a logical conclusion from above-mentioned, and to consider buying strong currencies and selling weak currencies with taking into account analysis and understanding price fluctuation of some currency pairs.
Simultaneously, we need to be informed that Canadian Dollar and Japanese Yen are about “0” and they can change their direction or consolidate own positions.
Recommendations for the opening and closing positions
In the entering into the market it is appropriate to keep profit/loss ratio not less than 2/1 and entering after correction of main movements (of trend). For this purposes, Fibonacci levels, indicators and trend lines can be used.
Trading in Forex is risky, and author has no responsibilities for potential profit/losses based on this forecast.
It is prohibited to republish current forecast without using a references or including information in the text of materials.
Thank you for your attention.
Have profitable trades,
