Forex Trading Analysis

FOREX MARKET THIS WEEK TRADING OPPORTUNITIES

In previous post we tried to describe, how forex market will digest ECB. Eur usd was expected to make a bottom, happy profits to those who started buying on dips. Gbp usd was predicted to wander in recent range. Sell on rallies in usd jpy was recommended to hold, the pair also trading according to our predictions. Usd chf is trading very slow but the bias will be bullish in the near term. Aud usd was recommended to buy on dips, keep on buying. Nzd usd is also trading according to our report. Let’s discuss all the major pairs in detail.

Following is the forex market this week trading opportunities in the major pairs, our all CHART OF THE WEEK analysis are doing well as predicted ( please see previous posts)

EUR/USD:– As predicted Eur Usd found the bottom near 1.09920. The pair was recommended to buy on dips in our previous post. Pair is trading below the midpoint of it’s recent range with a good degree of potential to advance further. Traders should add if the pair shows further dips, otherwise let their profits run till the pair find it’s Top. Eur Usd is currently trading around 1.10900. We have buy positions in this pair.

1st update ( 5th February 2020) :– Pair flipped to downside without reaching it’s Top. No need to worry, it’s time to add to your buy positions.

GBP/USD:– Gbp/usd is trading in between it’s recent range, the pair dips earlier this week to threaten the low of it’s recent range at 1.30000 but the momentum remained bullish and that dip proved false. The pair is currently trading around 1.32000 with further upwards scope. Traders should let their profits run for now till the pair find it’s Top. We have buy positions in this pair around 1.30000. Pair is trading above the mid point of it’s recent range so the Top is not far, and probably expected this week.

1st update (5th February 2020) :– Pair already made it’s Top near 1.32000. Now it’s time to buy on dips in this pair.

USD/JPY:– USD JPY was our CHART of the WEEK in recent posts. Recommended to sell on rallies, the pair is trading exactly according to our predictions. The pair is currently trading around 108.300, near the bottom of it’s recent range so traders are advised to book their profits and also to start buying on dips according to their purchasing power. We had selling positions in this pair with the average of 109.900, booked profits on Friday.

1st update ( 7 February 2020) :– Pair is very much near to it’s Top, book profits and start selling the pair with rallies.

USD/CHF:– USD CHF is one of pair takes too much time to reach it’s Top or the bottom, spends too much time in the range, in our previous post we highlighted that the pair will trade with a bullish bias, however the bias is still not bearish, but the pair is taking too much time to reach it’s Top. Buying on dips strategy is still valid in this pair. The pair is currently trading around 0.96300, between bottom and mid of it’s recent price range with a potential to advance further. We have no positions in this pair.

AUD/USD:– In our previous post we highlighted that the pair is near it’s bottom and buy on dips should be started, however the pair dips more than our expectations but this is the beginning of prolonged bottom, and one should keep on buying the pair on dips, the pair is currently trading around 0.67000 and is near it’s exact support lines. Any dips from here will present good opportunity to earn profits in near term. We are buying this pair.

NZD USD :– In previous post we highlighted that NZD USD is near it’s support lines with potential to dip further. The pair behaved exactly in the same manner. Buy on dips strategy will be profitable in near term. Currently pair is trading around 0.64600, exactly at it’s support lines. The pair’s consolidations usually take more time than others. We have no positions in this pair.

Stay tuned for forex market this WEEK trading opportunities tomorrow more happenings in forex market.

DISCLAIMER:– Forex trading involves significant amount of risk, may not suitable for all. However the above information is deemed to be reliable, traders should trade according to their risk and money management.

How Forex Market Will Digest ECB ?

European central bank kept it’s major policy levels unchanged ( the main refinancing rate at 0.00%, deposit rate at -0.50%, the marginal lending rate at 0.25%, and policy in monthly assets purchasing kept unaltered on Thursday. Despite that, particularly eur usd pair showed some weakness, gbp usd remained within it’s familiar territory. Usd was weak against jpy as predicted in our previous posts. Aud usd also eroded all it’s gains, weakness was mainly factored by eur usd weakness and Australian jobs data presented on Thursday. Usd chf and nzd usd remained mostly stable. Let’s discuss all the major pairs in detail.

Following is how forex market will digest ECB ? and CHART of the WEEK.

CHART of the WEEK Eur usd :– Eur usd started to show weakness after Thursday ECB report. However the major policy levels kept unchanged euro found it difficult to hold. In our previous post we suggested that eur usd will find bottom so soon. Our expectations was to find bottom near 1.10500-600, but the weakness surpassed that mark and made a low of just below 1.10200. In our belief it’s high time to start buy on dips in this pair to earn decent profits. We are buying this pair. The pair is currently trading around 1.10280.

Gbp usd :– Gbp usd kept itself in a hold mood last week. Remained range bound and also expected to remain in it’s recent range as the pair currently trading exactly in the mid of it’s recent range. The pair will offer you opportunities on both sides if you are an efficient range bound trader, otherwise you should avoid the pair until it finds either the top or the bottom. However we are in wait to find the pair it’s Top as we are holding our buy positions at 1.30000 with plans to add more if the pair make further dips. The pair is currently trading around 1.30600.

Usd jpy :– Usd Jpy was CHART of the WEEK in our previous post. The pair behaved exactly as per our expectations. There is still a long way to go to find the pair it’s bottom. So traders are recommended to hold their sell positions and keep the profits running until the pair finds it’s bottom. We have sell positions in this pair on 109.600 and 110.200 are in wait to find the pair it’s support lines. The pair is still above the mid of it’s recent range so a good degree of downside potential is still possible in this pair. The pair is currently trading around 110.100 .

Usd chf :– Usd Chf is continuing to put pressure on usd as expected in our previous post. The pair is currently trading around 0.97100 with potential to advance further as the pair is trading above the mid of it’s recent range. It will still take some time to find the pair it’s Top as we are still in wait of a further upwards correction in this pair. Those who are holding buy in this pair should continue to hold that. We have no positions in this pair.

Aud Usd :— Aud Usd is the pair whose consolidations last longer than expectation. Currently the pair is consolidating it’s bottom, the pair is trading exactly at it’s support lines buy on dips will be a very profitable strategy in this pair. In our previous posts we wrote the pair is near its support lines and will find the bottom so soon, now the time has arrived to start your buying. The pair is currently trading around 0.68040. We are definitely buying this pair.

Nzd Usd :– In our previous post we highlighted that the pair is trading around it’s Support lines with potential to increase it’s weakness. The pair is still trading near it’s support lines with potential to dip further. The pair is currently trading around 0.65750. We have no positions in this pair.

Stay tuned for more in how forex market will digest ECB?

DISCLAIMER:- Forex trading involves significant amount of risk, may not suitable for all. However the above information is deemed to be reliable, traders should trade according to their risk and money management.

HOW FOREX MARKET MAY BEHAVE THIS WEEK?

Forex market was in a pause mode last week, euro and gbp eroded their recent gains, but will they continue the decline or it was just a breather? Aud registered a new high this week before slipping down due to profit bookings. Jpy weakness was also in a state of stagnation. Traders made good profits by selling rallies in nzd usd as recommended in our previous posts. Chf is maintaining it’s strength continuously dragging the usd chf downwards but for how long? Let’s discuss all the major forex pairs in detail.

Following is how forex market may behave this week? and CHART of the WEEK.

EUR USD :– Eur Usd erodes all it’s recent gains and returns to bottom of it’s recent price range. However the pair is still weak but the bottom is not so far. The pair is currently trading around 1.10950. Buy on dips strategy is recommended in this pair from here and lower. The pair is expected to find the bottom so soon as the pair is very much near to it’s support lines. We are buying this pair on dips.

GBP USD :– Gbp usd is wandering here and there in it’s recent familiar range. The pair made a high of 1.31190 before slipping down to near term bottom. The pair is currently trading little bit above it’s support lines and trading around 1.30000 at the time of writing. The sell momentum is going to expire in this pair, is expected to find it’s bottom price so soon. We have buy positions in this pair around 1.30000 with plans to add more if further weakness is shown by it.

CHART of the WEEK USD JPY :– USD JPY is the pair where most of the analysts are recommending a buy if pair crosses 110.500-600 but our team is on the sell side, the upside momentum should vanish soon and the pair should not cross 110.500-600 in the near term, if the pair reaches the above stated price zone it will be a very profitable opportunity to sell the pair with more volume. We sold the pair a little bit earlier at around 109.600 and are continuing to sell on rallies. The pair is currently trading around 110.200 at the time of writing and is trading exactly at it’s recent resistance lines.

USD CHF :– USD CHF is the pair in which Chf is continuing to put pressure on usd without any meaningful corrections on the upside. But the question is for how long? Chf strength should come to an end in the near term and the pair should correct to upside as per our belief. The pair is currently trading around 0.96800 after making a low of 0.96120 this weak, hovering above it’s bottom line and below it’s mid line, has potential to advance further. We have no positions in this pair.

Aud usd :– Aud usd made the bottom as expected in our previous posts. The pair is currently trading around 0.68840 after making a high of 0.69330. Pair took away it’s recent gains due to profit bookings and weaknesses of Euro and gbp. The pair is currently trading near it’s support lines and is expected to find the bottom so soon. Buy on dips strategy is still valid in this pair from here and below to earn good profits. We are on buy side in this pair.

NZD USD :– NZD USD fetched a good profit for those who were selling the pair as recommended in our previous posts. The pair is currently trading around 0.66200 after making a low of 0.65780 this week. The pair is trading near it’s support zone and also have potential to show further dips, is recommended to buy on dips if revisits it’s recent lows. We have no positions in this pair.

Stay tuned for more in how the forex market may behave this week?

DISCLAIMER :– Forex trading involves significant amount of risk, may not suitable for all. However the above information is deemed to be reliable, traders should trade according to their risk and money management.

FOREX MARKET THIS WEEK’s FORECAST

Last week was the week of meeting of our targets and some opportunities to enter new positions. US Dollar is maintaining it’s strength, but the strength should come to an end soon as per our expectations. Eur Usd already started showing strength and should continue to show the same in the coming trading sessions. Gbp usd is showing weakness as described in our previous post, but is expected to bottom out in some next trading sessions. Usd jpy is showing strength at this point of time, the pair was expected to make a Top around 109.600-700. Aud usd reached the lowest price as expected in our previous post. Let’s discuss all the major pairs in detail.

Following is forex market this week’s forecast and CHART of the WEEK.

EUR USD :— Eur Usd pair bottom out as expected in our previous post. The pair is currently trading around 1.11350. The pair is trading around it’s bottom line and has a potential to grow further. Buy on dips will be a profitable strategy in this pair. We closed our sell position in the pair and flipped towards the buy side last week.

GBP USD :— Gbp usd is showing weakness at this point of time. It was recommended in our previous post to stay away from this pair until it find out either the Top or the bottom. The pair is currently trading around 1.29900. The pair is a little bit above it’s bottom line and the bias is still on the downside. Let the pair bottom out first and then start buying this pair. However we have already some buying positions in this pair, but we are waiting to add more till the pair bottom out.

CHART of the WEEK USD JPY :– Usd jpy was expected to make a Top around 109.600-700 but the pair is still rising, will provide excellent sell opportunity in the near term. The pair is currently trading around 110.060 at the time of writing. The pair is exactly at it’s Top line and has very big potential to go down. Sell on rallies will be a profitable strategy to make good profits in the near term in this pair. We are holding our sell position in the pair and have plans to add more as the pair advances further.

USD CHF :– USD CHF bottom out as expected in our previous post. Pair is currently trading around 0.97100 at the time of writing. The pair is trading above it’s bottom line but below it’s mid line of it’s recent range, has potential to advance further. We have no positions in this pair.

AUD USD :— AUD USD was maintaining it’s weakness last week and was expected to reach 0.68500, which was our target price and the price to start buying as well in our previous post. The pair behaved exactly according to our predictions. The pair is currently trading around 0.69000 at the time of writing with a potential to advance further. We have buying positions in this pair around 0.68500 and have plans to add further if the pair shows some weakness.

NZD USD :– NZD USD was maintaining it’s weakness last week as expected and is still trading with a downside bias. The pair is currently trading around 0.66200 at the time of writing, is little bit above it’s bottom line expected to go down further. We have no positions in this pair.

Stay tuned for more forex market this week’s forecast.

WHAT SHOULD WE EXPECT FROM FOREX MARKET THIS WEEK ?

Hope you enjoyed a good profitable last week trading forex. Everything is doing well exactly according to our expectations. U.S. Dollar is maintaining it’s strength and is stable now. Initially the tension between Iran and America put some pressure on Dollar, especially in case of xau usd. Such type of incidents can never be predicted, only this type of unpredictable events are the risky factors we should take into consideration before playing too big in the market. Overall usd is showing strength in almost every pair. Eur usd is far from it’s latest highs. Usd chf and usd jpy are showing the signs of strength as predicted in the previous posts. Aud usd pair is also fetching good profits. Let’s discuss the technical setups in some major forex pairs.

Following is what should we expect from the forex market this week.

Eur usd :– Eur usd pair is off it’s recent highs as expected. Pair is currently trading around 1.11180. Pair is very much near it’s bottom now and should find the bottom in next couple of days. 1.10850 to 1.11000 is a support zone now, traders should start buying the pair from the above stated zone and below to earn decent profits. We are holding our sell position in this pair for now, waiting for the pair to find the bottom.

Gbp usd :– Gbp usd is still in the mid of it’s recent range and currently consolidating it’s recent moves. Earlier this week pair showed some strength but backed off. Buy on dips if the pair goes down and sell on rallies if the pair goes up was recommended in our previous post. And the strategy is still valid in this pair. But the best strategy is to stay away from this pair until the pair find it’s Top or bottom. Possibility of finding the bottom earlier than expected is high. Pair is currently trading around 1.31100 at the time of writing. We are holding our buy in the pair entered at 1.30000 and 1.29100 and have plan to add more if pair revisits the bottom.

Usd jpy :– Usd Jpy found the bottom as expected and currently trading around 109.200 at the time of writing. Pair is currently trading above the middle of it’s recent range but potential to reach at least 109.500 is still possible. Traders should let the profits run for now till the pair find it’s Top around 109.500-600 as stated above and also should start selling from the above stated resistance zone. We are holding our buy in this pair waiting the pair to find it’s Top.

Usd chf :– Usd chf was recommended to buy on dips in our previous posts. The pair found the bottom as expected. Pair is trading below the midpoint of it’s recent range and still have much more potential to go up in coming days. Pair is currently trading around 0.97400 at the time of writing. We have no positions in this pair.

Aud usd :– Aud Usd is maintaining it’s weakness as expected in our previous posts. The pair is currently trading around 0.68780 at the time of writing. The pair is currently hovering around it’s support zone of 0.68000-500. Buy on dips strategy is recommended in this pair to earn decent profits. We have plans to book profits at 0.68500 in this pair and we’ll start buying from there too.

Nzd usd :– Nzd Usd is maintaining it’s weakness as stated in our previous posts. The pair is currently trading around 0.66400. Currently trading below the midpoint of it’s recent range, with potential to go down further. Traders should not close the sell position at the current price but should wait for a couple of days till our next call. Pair should find the bottom around 0.65600-800, where buying in the pair can be initiated too. We have no positions in the pair.

So that was the detail of what should we expect from the forex market this week. Please stay tuned for more information next time.