Why you should demo trade the market for at least three months

In the world of economic crisis managing your financial need is extremely difficult. People all over the world struggle very hard to earn their financial freedom. But despite working so hard very few people can have their financial freedom in life. To be honest, in the past we have very little opportunity to make money to improve our lifestyle. But due to the recent advancement in technology, retail traders like us can easily participate in the forex trading industry and trade the live assets. Since most of the reputed brokers like Saxo offer high leverage trading account, people can actually make a huge amount of money by utilizing the leverage. Just look at the professional Aussie traders and you will see that many of them have changed their whole lifestyle just by forex trading. But before you get fully involved in the trading world you need to learn the market details by using a demo trading account.

Gives you a clear insight of this market
The market is so profitable that very few traders can actually understand the risk in trading. In order, t become a professional trader you need to truly understand how the market works. For this very reason, you need to demo trade the market for at least three months. It's true that you can also trade with real money but you can be 100 percent sure that you will blow your entire trading account within a very short period of time. According to statistics, only 5 percent of the traders are making consistent profit in this market. So there must be something special among the successful traders in today’s world. Every single one them has demo traded the market for a very long period of time. They have worked hard to find the perfect trading strategy for them to make money. Once they felt comfortable with their demo trading performance they have switched to real life trading.

Allows you develop a perfect money management plan
Proper money management is often considered to be an essential element in forex trading. If you want to succeed then you need to learn how to take managed risk in trading CFD. The novice traders often execute high lot size in the real market and make one big winner. But in the long, they simply just wipe their entire trading account with some few losing trades. But if you trade the with demo trading account then you can easily realize how dangerous it can be when you trade with high lot size. Placing your trade by using the all the trading parameters will not ensure your profit. No matter what you do, you will often have some losing trades. So if you simply follow 1:2 risk reward ratio trades then you can easily afford to lose more trades and make money in the long term.

Helps you to identify your mistakes
Trading is just like doing any other business in the world. The professional traders always trade the market with the extreme level of precautions. If you want to make money in this industry then you need to play some tricks in this game. Always make sure that you are learning from your mistakes and if you do the same mistakes again and again then the industry is not for you. Develop a strong reading habit as it will enhance your trading knowledge. Being an active participant you must know when to place a trade and when to stay on the sideline. Professional traders always have complete control over their emotion then know that learning from their own mistakes is the key to success in this industry.

Why you should demo trade the market for at least three months

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Weekly Trading Forecasts for Major Pairs (July 31 – August 4, 2017)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
EURUSD, which has generally been bullish this year, went upwards by 100 pips last week, testing the resistance line at 1.1750. Some attempts were made to breach the resistance line to the upside, but to no avail. However, the resistance line remains under siege and it may be breached to the upside, as other resistance lines at 1.1800 and 1.1850 are targeted. The outlook on EUR pairs is bearish for this week, but bullish for August 2017; so we may see some considerable correction before the end of the week.

USDCHF
Dominant bias: Bullish
Perpetual weakness in CHF has helped USDCHF to generate a clean bullish signal (most CHF pairs also skyrocketed while the CHF/JPY plummeted). Price gained about 250 pips last week, and it is currently volatile. The market would continue going upwards as long as CHF shows weakness. This is a classical example of when both USDCHF and EURUSD go into a positive correlation; i.e., they both go upwards. The USDCHF normally goes into opposite direction to EURUSD, but this time around, the case is being influenced by exponential weakness in CHF. Price may go further upwards to test the resistance levels at 0.9750 and 0.9800. However, CHF would regain its losses, starting from this week and throughout August; something that would send CHF pairs (including USDCHF) southwards.

GBPUSD
Dominant bias: Bullish
GBPUSD was able to retain its bullishness last week, trying to go upward just like EURUSD has done, since both of them normally go into positive correlation. The distribution territory at 1.3150 was tested repeatedly last week, and it might be breached to the upside this week, as other distribution territories at 1.3200 and 1.3250 are aimed. Although GBP pairs would experience mixed results in August, GBPUSD would not really become bearish as long as it stays above the accumulation territory at 1.2850.

USDJPY
Dominant bias: Bearish
In this market, this month has been bearish so far. Last week was also characterized by bearishness in spite of bull’s desperate effort to push price upwards, which made price tested the supply level at 112.00, before price went downwards to close below the demand level at 111.00. The next target is the demand level at 110.50, which would easily be breached as other demand levels at 110.00 and 109.50 are targeted. The outlook on JPY pairs is bearish for this week and for August. Therefore, long trades are not recommended.

EURJPY
Dominant bias: Neutral
This currency trading instrument has been consolidating for about two weeks, resulting in short term neutrality. A movement above the supply zone at 130.50 would bring about a Bullish Confirmation Pattern in the market; while a movement below the demand zone at 128.00 would result in a bearish bias. This is what is expected to happen within the next several trading days. Nonetheless, bear would eventually become a winner in August.

This forecast is concluded with the quote below:

“It doesn’t matter how often a method or system wins, what matters is the bottom line: does the method or system make money for you?! If it does, then stick with the bottom line.” - Andy Jordan

Source: www.tallinex.com

Weekly Trading Forecasts for Major Pairs (July 31 – August 4, 2017)

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Forex

Forex trading is more reliable than any other internet marketing . if you can acquire most powerful analyzing trade knowledge from here by passing a long time , then you can earn money from here very rapidly.

Forex

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Binary Option

Honestly Speaking, I don’t feel secure and comfortable at any Binary options at all. That’s why from my first day of trading I have been using general trading. And I am very lucky to choose LQDFX which is very supportive to trade with comfortable and secure environment by providing a wide range of trading technologies. And they don’t restrict any kinds of trading techniques with scalping and hedging. As a result from here I can scalping freely without any kinds of restrictions including lowest trading spread as well as minimum margin requirements. So, my trading life is very much comfortable.

Binary Option

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Das Eingehen hoher Risiken könnte Ihren gesamten Trading Account sprengen

Der Devisenmarkt ist wie ein Spiel. Es ist ein sehr bekanntes Spiel auf der gesamten Welt. Ein Spiel, bei dem Trader aller Altersgruppen mit ihren Taschen voller Geld kommen, um in dieses Spiel zu investieren. Auf diesem Markt verlässt die Mehrheit der Trader den Handel, nachdem auf dem Markt in den ersten paar Monaten Handel betrieben worden ist. Sie sprengen ihre Accounts und haben nicht einen einzigen Cent in ihrem Account, um den nächsten Trade zu platzieren. In diesem Artikel werden wir uns auf ein sehr wichtiges Thema konzentrieren, welches sich auf exzessive Risiken beim Devisenhandel bezieht, was zur Sprengung Ihres Accounts beitragen könnte. Risiken sind im Devisenhandel verpflichtend; wenn Sie allerdings damit anfangen, Risiken aus dem Nichts einzugehen, ist dies der Punkt, ab dem der Handel risikoreich wird und das Geld Ihres Accounts zu verdampfen beginnt. Wenn Sie sich die professionellen singapurischen Trader anschauen, werden Sie feststellen, dass alle von ihnen gelenkte Risiken auf dem Markt eingehen. Sie wissen sehr genau, dass sie ein strategisches Risiko eingehen und die bestmöglichen Trades ausführen müssen, um auf dem Markt auf lange Sicht zu überleben.

Das Ergebnis exzessiver Risiken im Devisenhandel
Sie mögen vielleicht dieses Sprichwort gehört haben: „Zu viel von allem ist schlecht“. Sogar wenn es sich um lebenswichtige Vitamine handelt, die Sie für Ihren Körper benötigen, wird die Einnahme in exzessiven Mengen Ihre Gesundheit schädigen. Beim Trading muss jeder Trader Risiken als Teil dieses Handelsmarktes eingehen. Investitionen sind Gegenstand von Risiken des Marktes, und Trader wissen, dass ihr Verlust die Investition übersteigen kann. Um allerdings einen Gewinn von 10 Dollar zu erzielen, müssen Sie ein Risiko eingehen. Das Problem entsteht, sobald Trader damit anfangen, 450 Dollar für einen Gewinn von 100 Dollar zu riskieren und den Trade verlieren. Davon abgesehen können viele von ihnen nicht akzeptieren, diesen Trade verloren zu haben. Sie hängen sich an diese Trades in der Hoffnung, dass der Markt sich zu ihren Gunsten entwickeln wird, und erleiden einen massiven Verlust auf ihrem Account.

Risikomanagement
Wenn Sie Risiken in der Branche der Exchange Traded Funds eingehen, sollten Sie minimale Risiken eingehen. Ebenso können Sie einer Lektion über das Risiko-Rendite-Verhältnis auf Ihrer Online Handelsplattform beiwohnen. Es handelt sich um einen Trading-Leitfaden bei dem Tradern, insbesondere neuen Tradern, Hinweise gegeben werden, wie viele Risiken sie für jeden Trade eingehen sollten. Wenn die Möglichkeit für Gewinne besteht, beispielsweise für 100 Dollar, sollten sie 80 Dollar oder 40 Dollar für den Gewinn riskieren? Das Risiko-Rendite-Verhältnis beantwortet dies für das Marktsystem der Devisen, was den Tradern bei der Planung ihrer Strategie mit minimalen Risiken für Geldverluste hilft.

Die Handelsstrategie der Preisentwicklung
Die meisten der neuen Trader verlieren aufgrund ihres Mangels an Handelsdisziplin Geld im Devisenhandel. Sie haben nicht einmal das perfekte Handelssystem, um regelmäßige Gewinne zu erzielen. Wenn Sie also wirklich zu einem profitablen Trader werden möchten, sollten Sie sicherstellen, mit den Anlagen erst nach Kenntnis der Details des Marktes zu handeln. Die Handelsstrategie der Preisentwicklung ist heutzutage sehr verbreitet, und die Experten unter den Tradern sehen es als eines der besten Handelssysteme an. Die Trader nutzen das zuverlässige Kerzenmuster am Unterstützungs- und Widerstandslevel, um die bestmöglichen Trades auf dem Markt auszuführen.

Kontrolle vor Emotion
Emotionen stellen für Devisenhändler einen der gefährlichsten Feinde dar. Als Trader in Vollzeit sollten Sie niemals auf der Basis Ihrer Emotionen einen Trade platzieren, vielmehr sollten Sie Ihre rationale Logik nutzen, um die perfekten Trades auf dem Markt aufzufinden. Versuchen Sie immer, sich auf die Ausführung hochqualitativen Handels zu konzentrieren und die perfekte Marktanalyse durchzuführen. Und bedenken Sie immer, nicht mehr als 2 Prozent Ihres Kapitalkontos in einem einzelnen Trade zu riskieren.

Das Eingehen hoher Risiken könnte Ihren gesamten Trading Account sprengen

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Weekly Trading Forecasts for Major Pairs (July 24 - 28, 2017)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
On EURUSD, bull was the clear winner last week. Price went upwards by 210 pips, breaking the multi-month high at 1.1600 and closing above the support line at 1.1650. Since June 27, price has gained 470 pips, and there is still more room for upwards movement, for price could reach the resistance lines at 1.1700, 1.1750 and 1.1800 this week. Nevertheless, it should be noted that, the more the market goes upwards, the more the chances of a reversal (which could happen before the end of the month).

USDCHF
Dominant bias: Bearish
This pair went down about 200 pips last week, making bear the clear winner. Since May 12, the market has gone down by more than 600 pips, leading to a huge Bearish Confirmation Pattern in the market. On Friday, price went briefly below the support level at 0.9450, and later closed above it. This week, further downwards movement is expected and the support levels at 0.9450, 0.9400, and 0.9350 could be tried. In case USD gains a considerable amount of stamina, there would be an upwards bounce in the market.

GBPUSD
Dominant bias: Neutral
Cable is bullish in the long-term, but neutral in the short-term. Price tested the distribution territory at 1.3100, and then began to be corrected downwards last week, reaching the accumulation territory at 1.2950. A movement above the distribution territory at 1.1300 would help restore the bullish confident; while a movement below the accumulation territory at 1.2800 would result in a bearish bias. A movement between the distribution territory at 1.3050 and the accumulation territory at 1.2900 would keep the short-term neutrality in the market.

USDJPY
Dominant bias: Bearish
There is a bearish signal on USDJPY. Price went southwards by 140 pips last week (having gown downwards by 330 pips since July 11). On Friday, the demand level at 111.00 was tested – it would be breached to the downside this week. Other bearish targets are located at the demand levels of 110.50, 110.00 and 109.50. There is a strong bearish outlook on JPY pairs this week, and therefore, long trades are not recommended on USDJPY.

EURJPY
Dominant bias: Bullish
The bias on this cross is bullish, though price only consolidated last week. Further consolidation can result in a short-term neutrality. One reason why the bullish bias has held out so far is the stamina in EUR itself. This week, there are possibilities that the supply zones at 130.50 and 131.00 can be tested this week. On the other hand, there could be a strong pullback before the end of the week (or the month), owing to a bearish outlook on JPY pairs for the rest of the month.

This forecast is concluded with the quote below:

“Trading is a great business for those who master it, and those who master it are traders who have mastered themselves.” – Joe Ross


Source: www.tallinex.com

Weekly Trading Forecasts for Major Pairs (July 24 - 28, 2017)

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HOW YOU SEE THE WORLD HAS A SIGNIFICANT EFFECT ON YOUR SUCCESS

INTRODUCTION: Hello Traders. The article below is useful for all areas of human endeavors (including trading). Please read it to discover a great secret today. Read between the lines and see how the facts revealed here aptly apply to trading.

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There are, broadly speaking, two ways to see the world and these have a great influence on how successful you become.

The first is what psychologists call the “external locus of control,” and the second is the “internal locus of control.”

You see… as the world around you changes, you can either attribute success and failure to things you have control over, or to forces outside your influence.

And which orientation you choose has a huge bearing on your long-term success.

This concept dates back to the 1960s with Julian Rotter’s investigation into how people’s behaviours and attitudes affected the outcomes of their lives.

Locus of control describes what individuals perceive about the underlying main causes of events in his/her life.


Put more simply:

Are you the pilot of your life or you just a passenger?

Do you believe that your destiny is controlled by you or by external forces (such as fate, the government, your boss, the system or others)?

Here’s how Charles Duhigg—the author of the book Smarter Faster Better describes locus of control:

“Locus of control has been a major topic of study within psychology since the 1950s. Researchers have found that people with an internal locus of control tend to praise or blame themselves for success or failure, rather than assigning responsibility to things outside their influence. A student with a strong internal locus of control, for instance, will attribute good grades to hard work, rather than natural smarts. A salesman with an internal locus of control will blame a lost sale on his own lack of hustle, rather than bad fortune.

“‘Internal locus of control has been linked with academic success, higher self motivation and social maturity, lower incidences of stress and depression, and longer life span,’ a team of psychologists wrote in the journal Problems and Perspectives in Management in 2012. People with an internal locus of control tend to earn more money, have more friends, stay married longer, and report greater professional success and satisfaction”



What is an external locus of control?

Well, we all know those people.

In fact, sometimes we are those people.

Nothing is ever their fault. There is always an excuse. The world is out to get them, life is unfair.

Duhigg describes it as follows:

“…Having an external locus of control—believing that your life is primarily influenced by events outside your control—’is correlated with higher levels of stress, [often]because an individual perceives the situation as beyond his or her coping abilities,’ the team of psychologists wrote” (24).


The benefits of an Internal Locus of Control

In general, people with an internal locus of control:

Engage in activities that will improve their situation.
Emphasize striving for achievement.
Work hard to develop their knowledge, skills and abilities.
Are inquisitive, and try to figure out why things turned out the way they did.
Take note of information that they can use to create positive outcomes in the future.
Have a more participative management style.


The bottom line:

We aren’t born with an unalterable locus of control, so it is critical to keep an eye on in ourselves so we can improve the way we look at the world.

Sure, bad things happen to us.

But rather than dwelling on them, it’s better to find a useful belief about them and move on.

It’s important to remove the idea that your life is dictated by forces outside of your control.

Of course, to one degree or another, it is. But there is plenty that we can control. You can create your own luck through study, hard work and perseverance.

It’s often said that you become a blend of the five people you hang out with the most.

This is important to keep in mind. Associate with positive people who believe they are in control of their own lives. Their beliefs and energy will rub off on you. And then yours will rub off on them.

It becomes a very powerful and positive feedback loop!



Author: Michael Yardney (a guest blogger at http://ift.tt/1ictipJ)

Author’s profile: Michael Yardney is a director of Metropole Property Strategists, which creates wealth for its clients through independent, unbiased property advice and advocacy. He is a best-selling author, one of Australia’s leading experts in wealth creation through property and writes the Property Update blog.

Articles reproduced with kind permission of The Trading Game Pty Ltd




PS: 4 useful trading quotes are also added below:


“There is a wise saying which came into being primarily since the advent of mechanical trading systems, and it goes something like this: "Your system will stop working when someone else builds his system based on your system." Can you see the truth in that? It is because of that reality that it is best to scout around for what may be working recently, and why it is a waste of time to backtest a system or method to see if it has worked for the last 10 years. You can't trade history you are forced to trade the present in an attempt to take advantage of the future.” – Joe Ross


“I’m not worried about being stingy, trying to get every last pip out of a trade; I want out of my position if the trade is going the wrong way! Do you want to be stingy or do you want to be OUT??” - Rick Wright


“A winner has the ability to find positive values from the most negative circumstances. This is the first reason why only emotionally healthy people can assume risks, they are able to rise above the superficial negative circumstances, discover trading opportunities and take decisive trading actions based on the current market conditions.” – Andy Jordan


“You have no control over whether you will win or lose – but you have enormous influence over the beliefs that drive the performance of your trading process. This is the new “Winning Nature” that bridges the gap between controlling outcome (which is impossible) and controlling your process (which you can do repeatedly). This leads to the calm, patient mind need for successful trading.” - Rande Howell


www.tallinex.com wants you to become a successful trader.



Traders’ Mindset: http://ift.tt/2pEDDS4

HOW YOU SEE THE WORLD HAS A SIGNIFICANT EFFECT ON YOUR SUCCESS

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Weekly Trading Forecasts for Major Pairs (July 17 - 21, 2017)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
This pair has been going upwards since June 27, and the bullishness has been maintained. Price also went upwards last week, though in a zigzag manner, closing above the support line at 1.1450 on Friday, and trying to go for the resistance line at 1.1500 (the initial target for this week). Other targets are located at the resistance lines at 1.1550 and 1.1600, which would require a strong buying pressure to reach.

USDCHF
Dominant bias: Bearish
The market is bearish in the long-term and neutral in the short-term. While the overall bias is bearish, price has not really assumed any protracted movement in the last two weeks. For the short-term neutrality to end, price needs to move above the resistance level at 0.9750, which would threaten the ongoing bearish outlook; or price would need to move below the support line at 0.9550, which would help emphasize the bearish outlook. As long as price does not move above the aforementioned resistance level or below that support level, the neutrality in the market would persist.

GBPUSD
Dominant bias: Bullish
GBPUSD moved upwards last week, gaining about 240 pips. The movement in the first few days of the week was flat, prior to the strong bullish movement that was witnessed on July 14. The market is intent on going further upwards, having tested the distribution territory at 1.3100. The distribution territory would be breached to the upside, for price would move further upwards by at least, 200 pips this week. The outlook on certain other GBP pairs is also bullish for this week.

USDJPY
Dominant bias: Bullish
Although it is currently being threatened, the bias on this trading instrument is still bullish. The movement last week was essentially bearish, and as soon as price goes below the demand level at 111.50, things would go completely bearish (a Bearish Confirmation Pattern in the market). Only a strong rally from here can remove the threat on the current bullish bias. It should be borne in mind that the outlook on JPY pairs is bearish for July.

EURJPY
Dominant bias: Bullish
The movement on EURJPY cross was bearish last week – in the context of an uptrend. Price first attempted to go upwards, but the attempt was halted as soon as the supply zone at 130.50 was reached. From that point, price got corrected by 180 pips, but it could not go below the demand zone at 128.50. For the bias to turn bearish, price would need to cut the demand zone at 128.50, while going further downwards. This is the expectation for this week, which could, however, be scuttled by incessant bouts of energy in Euro.

This forecast is concluded with the quote below:

“I believe a winning trading strategy should be easy to learn and apply in the real world.” - Jack Loftis



Source: www.tallinex.com

Weekly Trading Forecasts for Major Pairs (July 17 - 21, 2017)

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Successes in Forex

By and large traders in particularly the newcomers think , only good trading knowledge can bring success in this volatile trading place, but in order to my trading experience I think besides good trading knowledge first of all we the traders have to make sure the credible broker , as the broker can affects the result of our trading with certainly. we can choose the broker for trading comfortably which always ensures superior execution , security of funds , lowest trading spreads, active customer services and much more. Due to these trading facilities now I am with LQDFX and my trading life become comfortable for all time when trading.

Successes in Forex

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Weekly Trading Forecasts for Major Pairs (July 10 - 14, 2017)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
The market was engaged in a bearish correction from Monday through Wednesday and then rallied on Thursday, to close on a bullish note on Friday. This has put some emphasis on the bullish bias on the market, which means that occasional corrections would often lead to further rallies. The outlook on EURUSD is bullish for this week (and so it is for other EUR pairs). The initial targets are located at the resistance lines at 1.1450, 1.1500 and 1.1550.

USDCHF
Dominant bias: Bearish
The USD/CHF made some bullish attempt in the first few days of last week, breaching the resistance level at 0.9650, but not being able to stay above it. The bullish attempt was not significant enough to pose any threat to the extant bearish bias, for price nosedived again on Thursday, owing to the new lease of stamina in EURUSD. The outlook on USD is bearish for this week, and as such further downwards movement towards the support levels at 0.9600 and 0.9550 is anticipated.

GBPUSD
Dominant bias: Bullish
Basically, GBPUSD is bullish in the longer-term and bearish in the shorter-term. Price moved down by 110 pips last week, in the context of an uptrend, closing below the distribution territory at 1.2900. This week, the outlook on GBP pairs is strongly bullish, and as such, there is an expectation of a strong bullish movement to the upside, which would assert the presence of bulls. The initial targets are the distribution territories at 1.2900, 1.2950 and 1.3000 which have been previously attained. Price might even go beyond those targets.

USDJPY
Dominant bias: Bullish
Since June 14, this pair has gained about 510 pips, moving in a perpetual bullish mode. Price is now very close to the supply level at 114.00; plus the possibility of breaching it to the upside is very high, owing to the clean Bullish Confirmation Pattern present in the market. Once the supply level is breached, the next targets would be the supply levels at 114.50, 115.00 and 115.50. However, the overall outlook for this month is bearish, and that may materialize anytime.

EURJPY
Dominant bias: Bullish
The market moved sideways in the first few days of last week, before trending further northwards. Since June 15, this cross has gained about 740 pips, closing very close to the supply zone at 130.00 on Friday. The supply zone would be easily breached to the upside as price goes further towards other supply zones at 130.50, 131.00 and 131.50. There could, nonetheless, be some bearish reversals this month, but that may not happen as long as EUR is strong.

This forecast is concluded with the quote below:

"There is time to go long, time to go short, and time to go fishing. A good signal jumps at you from the chart and grabs you by the face – you can’t miss it.” – Jesse Livermore

Source: www.tallinex.com

Weekly Trading Forecasts for Major Pairs (July 10 - 14, 2017)

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Weekly Trading Forecasts for Major Pairs (July 3 - 7, 2017)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
Last week, a bullish breakout in this market put an end to the neutral bias on it, which was in place from June 12 to 23. Price gained more than 250 pips, almost reaching the resistance line at 1.1450, but closing above the support line at 1.1400. There is a huge Bullish Confirmation Pattern in the market, which means that further bullish movement is a possibility. Nevertheless, the outlook on EUR pairs is bearish for this week; just as it was previously announced that the movements on EUR pairs would be bullish last week. We might see a meaningful bearish run on EURUSD before the end of this week.

USDCHF
Dominant bias: Bearish
This pair dropped precipitously last week, almost testing the support level at 0.9550 before closing near the resistance level at 0.9600. The bias on the market is currently bearish, but that may change once EURUSD drops before the end of this week. There are support levels at 0.9550 and 0.9500, which may be tested. An upwards movement may enable price to test the resistance levels at 0.9600, 0.9650 and 0.9700.

GBPUSD
Dominant bias: Bullish
GBPUSD, which normally gets positively correlated with EURUSD, also went upwards by 310 pips last week, closing above the accumulation territory at 1.3000 on Friday. There is a possibility of further upwards movement, but the movement would be limited since the outlook on this market, and certain on GBP pairs, is bearish for this week. This means that there could be a serious bearish correction before the end of the week. As usual, there would be strong volatility on GBP pairs in July.

USDJPY
Dominant bias: Bullish
USDJPY moved slowly northward last week, testing the supply level at 112.50, but being unable to close above it. Since June 14, the market has gained about 340 pips while moving northwards slowing and gradually. The trend in the market is bullish, but that may soon be put to an end, for the outlook on the market is bearish for this week and for this month. JPY pairs are also expected to go bearish this week and in July.

EURJPY
Dominant bias: Bullish
Unlike USDJPY, which moved upwards gradually and slowly last week, EURJPY cross moved upwards rapidly and significantly. Price went upwards from the demand zone at 124.50, and tested the supply zone at 128.50 (a movement of about 400 pips). There is a significant Bullish Confirmation Pattern in the market, and short trades are currently not encouraged until there is a deep correction in the market, which would eventually happen, owing to a bearish outlook on JPY pairs for the month of July.

This forecast is concluded with the quote below:

“Independence has a slightly different meaning when it comes to the world of trading, but it is an important one. Trading gives us the independence from having to have a “9-5” job. It gives us the freedom to work from just about anywhere in the world (thanks, in part, to technology). We can choose what we want to trade, how much we want to trade and even take breaks whenever we want. It’s one of the best “jobs” you can have.” – TradingEducators

Source: www.tallinex.com

Weekly Trading Forecasts for Major Pairs (July 3 - 7, 2017)

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