Forecasts
Forex Guides
Members

Weekly Trading Forecasts on Major Pairs (December 28 – 31, 2015) – Forum Feature

Good day readers.

There are excellent forecasts done by readers and I think it is excellent to feature them on our website proper!

Weekly Trading Forecasts on Major Pairs (December 28 – 31, 2015)
EURUSD, USDCHF, GBPUSD, USDJPY, EURJPY

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
EURUSD moved upwards 100 pips last week, still showing determination to go further upwards. The market would experience some equilibrium movement this week, owing to thin activities in the markets,

*Dear readers. We are testing a new support model for our site. Please support us by completing a mini survey if it appears below. All 6 questions should be answered. Thanks.*

but possibilities of surprise movements cannot be ruled out (especially on some other EUR pairs like EURAUD, EURNZD, etc.). Bulls might target the resistance lines at 1.1000 and 1.1050 this week.

USDCHF
Dominant bias: Bearish
This pair did not make any significant movement last week, and it is more likely that the sideways movement would continue this week; which could make the bias on the market turn neutral. There are support levels at 0.9850 and 0.9800. On the other hand, there are resistance levels at 0.9950 and 1.0000. It is expected that the price would oscillate between these support and resistance levels for the rest of this year – breaking them to the upside or to the downside within the first week of January 2016.

GBPUSD
Dominant bias: Bearish
From Monday to Tuesday, Cable dropped by 100 pips, to rise by 110 pips from Wednesday and Thursday. The current price action in the market could be rightly called a rally in the context of a downtrend, because the bearish outlook cannot be invalidated as long as price is under the distribution territory 1.5050. A very strong bearish movement would likely resume on GBP pairs on the first week of January 2016.

USDJPY
Dominant bias: Bearish
This currency trading instrument performed a steady southwards movement last week. From just under the supply level at 121.50, price was able to move below the supply level at 120.50, to close at 120.27. There is a strong Bearish Confirmation Pattern in the market, which would enable this currency instrument to dive further by 100 pips this week or next week. At the present, long trades do not make much sense in this market.

EURJPY
Dominant bias: Bearish
This cross moved upwards 100 pips in the first few days of last week, before it went down by 100 pips, reaching the demand zone at 131.50. This action supported the extant bearish bias on the market. At this juncture, the movement of this cross would be dictated by the events surrounding the Euro, which means that we might see a rally in case the Euro is strengthened further.

This forecast is concluded with the quote below:

“Money is perpetual in the markets and the objective is to keep as much as you can when it passes through your hands.” – Alpha7 (Trading Academy)

You can see the original forum thread by analyst75 here.

Invest In Yourself And Get Premium Analysis
Less than 20 cents a day
Major Currency Pairs Analysis
Forex Sentiment Analysis
Understand The Market
10 days money back guarantee

View Subscription Options

Would you like to connect?
Get notifications on new forecasts and articles.

Sign up to our emailing list and get your FREE Stop Losing and Start Winning in Forex Checklist!

Trending Forex Articles

  • EURUSD Weekly ForecastWeekly Trading Forecasts on Major Pairs (December 28 – 31, 2015) – Forum Feature
  • Weekly Trading Forecasts on Major Pairs (December 28 – 31, 2015) – Forum Feature
  • Weekly Trading Forecasts on Major Pairs (December 28 – 31, 2015) – Forum Feature
  • Weekly Trading Forecasts on Major Pairs (December 28 – 31, 2015) – Forum Feature
  • EURUSD Weekly ChartWeekly Trading Forecasts on Major Pairs (December 28 – 31, 2015) – Forum Feature
  • Weekly Trading Forecasts on Major Pairs (December 28 – 31, 2015) – Forum Feature
TheGeekKnows