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domi681
Sold 222,000 EURUSD FX Spot @ 1.38470
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1 hour ago
Weekly Trading Forecasts on Major Pairs (April 28 – May 2, 2014)
EURUSD
Dominant bias: Neutral
The overall bias on the EURUSD is neutral because the market has been in an equilibrium phase for about two weeks. While there is currently no directional bias on this pair, momentum would soon return to the market, which would cause a significant movement in one direction. The most probable directional movement could be towards the north (as confirmed by the price action). Should this happen, one may be looking at the resistance lines at 1.3850 and 1.3900 as targets for long trades.
USDCHF
Dominant bias: Bullish
This market is bullish but the situation remains precarious. It is so precarious that a movement below the support level at 1.8800 is enough to render the bullish outlook invalid. For the outlook to continue to make sense, the price needs to rise above the resistance level at 0.8850; although the logical target for the bull is at the resistance level of 0.8900.
EURUSD
Dominant bias: Neutral
The overall bias on the EURUSD is neutral because the market has been in an equilibrium phase for about two weeks. While there is currently no directional bias on this pair, momentum would soon return to the market, which would cause a significant movement in one direction. The most probable directional movement could be towards the north (as confirmed by the price action). Should this happen, one may be looking at the resistance lines at 1.3850 and 1.3900 as targets for long trades.
USDCHF
Dominant bias: Bullish
This market is bullish but the situation remains precarious. It is so precarious that a movement below the support level at 1.8800 is enough to render the bullish outlook invalid. For the outlook to continue to make sense, the price needs to rise above the resistance level at 0.8850; although the logical target for the bull is at the resistance level of 0.8900.
