Weekly / Long-Term Forecast
Market is trading on the key resistance level 1.1910, that was almost broken up during Thursday - Friday US holidays. Here is no clear driver for further uptrend and seems that soon market will start correction with further downtrend, but market still can get next key resistance on the level 1.2024. We need waiting for Wednesday US GDP and Thursday EU Core CPI news to get more market driver in any of ways. The market is trading along an uptrend with target on 1.2024, but uptrend may be expected to continue in case the market rises above resistance level 1.1950. An downtrend will start as soon, as the market drops below support level 1.1844, which will be followed by a move down to support level 1.1643 - 1.1607.
The market is trading along an uptrend with target on 1.1910, that ay be expected to continue, while market is trading above support level 1.1756. An downtrend will start as soon, as the market drops below support level 1.1756, which will be followed by a move down to support level 1.1662.
What to expect on this week? Last week market was in sideways trend and this weel have patterns, after breaks of that market will have good potential for fast trends. But this will happen, if main news on this week will have any changes, positive or negative. Mostly, influence will made news "US Core CPI", but also "Core CPI" for EU and GBP also will be very important, so we need to follow them.
The market is trading along a downtrend with target on 1.1450, that may be expected to continue, while market is trading below resistance level 1.1715. An uptrend will start as soon as the market rises above resistance level 1.1715, which will be followed by a move up to resistance level 1.1820.
The market is trading along an uptrend with target on 1.1910 or 1.2037, that may be expected to continue, while market is trading above support level 1.1670. An downtrend will start as soon, as the market drops below support level 1.1670, which will be followed by a move down to support level 1.1565.
Previous week was closed on main support 1.1760, so market still have a chance to rebound up to the resistance level 1.1910 (technically). Contribute to this scenario fundamental factor of very weak US "Non-farm payrolls" news, that was published on friday and felt suprisingly low from previous 156K to -33K, that can be a very strong signal for market correction to technical level 1.1910. By history of this news indicator, we can see, that negative NFP market have once per 7-8 year cycle and after we started to have negative NFP, this crysis period is going over 12-18 month, where last of them was on 2001 and 2008 years. But sometimes its happens when NFP became negative, but if after this one we will have more again - this signal will became very dangerous. But before this apocalyptic scenario we do not have any other economic signals for such possible situation, so looks that negative NFP we had just because US economy is already fully loaded by working places, because unemployment is felt from 4.4% to 4.2%, that is very good sign. The market is trading along a sideways trend between resistance 1.1760 and support 1.1650 - 1.1610. An uptrend will start as soon as the market rises above resistance level 1.1760, which will be followed by a move up to resistance level 1.1910.
- My students are already making profit on their real trading accounts right now
- Profitability of trading system “Strategist” is proven with trading statements
- Forecasts based on this system are realized 80% of the time
Join us and start making profit just in 3 months
Fill in the form below, press “Send request” button and I will contact you shortly
(subscribe for a FREE newsletter)
- the quality of training course provided by me
- potential results of your trading in future
Currency pairs: EURUSD, GBPUSD, GOLD
Know where the market is going to be by the next day, next week, month and quarter
Trading reports and feedback by my students
Weekly trading reports by students who completed my training course. Report includes initial trading plan and the result of this plan being implemented.
In these articles I tell about my experience and insight on the market accumulated over years of trading since 2003.