Weekly Trading Forecasts for Major Pairs (August 14 - August 18, 2017)

13 August 2017, 23:30

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

Dominant bias: Bullish
Price consolidated between the support line at 1.1700 and the resistance line at 1.1850 last week. Further consolidation will result in a neutral bias, movement above 1.1850 will strengthen the current bias, and movement below 1.1700 will threaten it.

Dominant bias: Bearish
Although some bullish effort occurred between July 25 and August 8, it was not enough to override the bearish bias. Price tested the resistance line at 0.9750 before dropping 250 pips and closing below the resistance line at 0.9650 on Friday. Targets for this week are the support levels at 0.9550 and 0.9500.

Dominant bias: Bearish
Last week saw oscillation between the distribution territory at 1.3050 and the accumulation territory at 1.2950. Movement below 1.2950 will strengthen the current bias, but movement above the distribution territories at 1.3050, 1.3100 and 1.3150 will generate a new bullish signal.

Dominant bias: Bearish
Price has dropped 550 pips from the August high of 114.47 and tested the demand level at 109.00, before closing above it on Friday. With a strong Bearish Confirmation Pattern present, the targets this week are the demand levels at 109.00, 108.50 and 108.00 with the possibility of temporary up moves along the way.

Dominant bias: Bearish
Last week saw price drop 250 pips - ending the recent neutrality and forming a bearish bias. The bounce on Friday and close above the demand zone at 129.00 presents a good opportunity to sell short at better prices while the outlook remains bearish as further decline is expected this week - possibly testing the demand zones at 128.50, 128.00 and 127.50.

This forecast is concluded with the quote below:

All good traders are also good record keepers. If they win a trade, they want to know exactly why and how… Traders who win consistently treat trading as a business.” - Matt Blackman

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: