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Weekly FOREX: Market outlook for this week Oct 26

Here’s the market outlook for this week

EURUSD

Dominant bias: Bearish

This is a weak market, so the current shallow rally is another opportunity to go short. This week, there is a possibility of price going far enough south to reach the support lines at 1.2600 and 1.2550. Meanwhile, the resistance lines at 1.2750 and 1.2800 ought to serve as sufficient hindrance to bullish interests and prevent price being pushed upward.

USDCHF

Dominant bias: Bullish

USDCHF has found some strength, making the present bearish retracement a good chance to enter the market at a better price. It’s quite likely that price will target the resistance levels at 0.9600 and 0.9650 this week and rely on the support levels at 0.9450 and 0.9400 to prevent price being dragged downward.

GBPUSD

Dominant bias: Neutral

There is no clear directional bias for Cable, especially considering recent price action. It is quite usual for price to trend upwards, only to retrace again in near-term movement. However, looking at price action more closely shows that the bulls are making a sincere effort to gain control; hence the current consolidation to the upside. It is therefore more likely that the eventual breakout will be to the upside. If correct, price may reach the distribution territories at 1.6150 and 1.6200.

USDJPY

Dominant bias: Bullish

This pair has been going upward in a slow and steady manner. Price is currently above the demand level at 108.00, and a break above the demand level at 108.50 will result in a very strong Bullish Confirmation Pattern. Given recent activity, short trades are not advisable at this time as the nearest demand level is at 107.00.

EURJPY

Dominant bias: Bullish

The Euro is weak, but the Yen is even weaker. Since testing the demand zone at 135.50, price has gone upward by around 150 pips. The supply zone at 137.00 is now under siege – almost giving way to the battering from buying pressure. Most JPY pairs are expected to go up this week, with this cross potentially reaching the supply zones at 137.50 and 138.00.

“I enjoy talking about trading and would like to convince people that you can learn to trade just as you can train for any other profession and that there’s nothing “evil” about it.” – Ruediger Born

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 adviser if you have any questions.

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Weekly FOREX for Oct 19

Weekly Forex

This week and the next few will be interesting to say the least. We’re at a crossroads of trend reversals or continuation as the last few weeks have shown us a lot of consolidation and sideways moves. My recommendation is thus only trade in the “direction” of the below forecasts but for a short duration of time. Like EURUSD, when the price drops, buy in a long and close it at 200 units (pips) of profit, let it drop again then open a new long trade. This way, you are protecting yourself in the event the price maintains an upwards momentum.

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Weekly Forex, Oct 05, 2014

Here’s your weekly Forex.

I took some time off playing Bungie’s new game Destiny to bring you this FOREX forecast.

EURUSD

Dominant bias: Bearish

The Euro is now one of the weakest currencies of the majors. Meanwhile, the US Dollar is proving to be the strongest. It is therefore no surprise that EURUSD dropped sharply again last week – falling below the resistance line at 1.2550 and suggesting the support lines at 1.2500 and 1.2450 might be tested. However, there it is quite likely that the Euro will gain strength before the end of this week, which may result in the aforementioned support lines aiding the bulls.

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Weekly Forex, Sept 28 2014 – EURUSD Beatdown Edition

Weekly Forex

What a great week for trading FOREX. EURUSD keeps getting beaten down like the redheaded step-child. The best part is we can continue to make money on this predictable abuse. So get out there and TRADE! Also, please donate, especially if following my advice lets you roll naked in mounds of $100 bills.

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The Dark Side of FOREX: Binary Options

The Binary Experience

Breaking away from the up and down of Forex, there’s a whole new way to trade out there. Binary Options are a way to “bet” that at a certain time the price will be higher, or lower than the time you are placing the bet. This allows a whole new level of making and losing money.

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Weekly Forex, week of Sept 21.

Weekly Forex

Sorry for the brevity today. It’s been an exhausting week. My Mini Cooper S started gurgling antifreeze while having valve cover and timing belt issues. It finally gave up the ghost after these all too common issues piled on each other and I told the mechanic to let her die.  Then there was picking out curtains for my soon-to-be-born daughter’s room. Without further groaning, here’s the forecast.

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Precious, my precious metals.

Precious, my precious metals.

Gold and silver are the slutty sisters of the mineral world. If Gold is sucking hard, you can almost guarantee that Silver will be on her knees sucking harder. That’s what this forecast is all about. While the European world is in a dickfest over the Ukraine and who can out embargo who, our mineral girls are going down harder than a Brazilian hooker during world cup. Below is my forecast on those dirty little girls.

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