Weekly Trading Forecasts for Major Pairs (March 27 - March 31, 2017)

26 March 2017, 21:16

Here’s the market outlook for this week: Content courtesy of Tallinex Limited https://www.tallinex.com‌

Dominant bias: Bullish
This pair still managed to hold out with a bullish signal last week, given the current short-term consolidation in the market. Price reached the resistance line at 1.0800 and moved sideways untill Friday. There were many unsuccessful attempts to breach that level but price could not stay above it. This week, may have more luck. A strong possibility of weakness remains in the market, unless USD continues to show weakness versus EUR.

Dominant bias: Bearish
After a 70 pip drop last week, which tested the support level at 0.9900, a level that will most likely be breached this week (while selling pressure remains in the market). Since price fell below the psychological level at 1.0000, it will be difficult for it to go above that level again. There are potential targets at the support levels of 0.9850 and 0.9800 this week, which could be reached as long as this pair continues to show weakness.

Dominant bias: Bullish
After reaching the distribution territory at 1.2500; this pair consolidated untill the end of the week. A strong Bullish Confirmation Pattern remains in the market, while the outlook on GBP pairs continues to be bullish, with further bullish movement to be expected this week. This pair will continue to climb by a minimum of 150 pips, testing the distribution territories at 1.2550, 1.2600 and 1.2650.

Dominant bias: Bearish
With a 160 pip drop last week (430 pips since March 10), this led to a strong bearish bias on the market, which will continue as long as this pair remains weak. The demand level at 111.00 was tested several times last week, but price managed to close above it. This week, further down movement can be expected, once the demand level at 111.00 is breached. However, there is an indication of possible rallies on JPY pairs before the end of the month, which will also affect this pair.

Dominant bias: Bearish
Last week saw a 180 pip drop (310 pips since March 13), which tested the demand zone at 119.50. There is currently a “sell” signal in the market, which may enable the demand zones at 119.00 and 118.50 to be reached, however there could be a rally before the end of the month which is also expected on other JPY pairs.

This forecast is concluded with the quote below:

It is critical to develop a well thought out and organized trading plan. It is then important to have the discipline needed to follow it… Trading should bring fulfillment of your business and personal goals.” - Andy Jordan

Azeez Mustapha
Currency Analyst
Tallinex Limited
The Jaycees Building, Stoney Ground
PO Box 362, Kingstown, VC0100
St Vincent and the Grenadines

Privacy:You have been sent this email because of your existing relationship with Tallinex Limited - a company registered in St Vincent and the Grenadines (No. 22199 IBC 2014). We will send you similar updates periodically.

HIGH RISK WARNING:Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING:Tallinex Limited provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects but does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect’s individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and Tallinex Limited specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Tallinex Limited expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never guarantee of future results.

Share it with friends: