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Forecasting Forex: The Latest News In Progress


The main difference between success and failure in terms of Forex really does depend on the currency pairs that you are looking at. It doesn’t really matter on the trading methods you use in terms of entry and exit either. Fundamental analysis shows that the US dollar is going to be supported by sentiment and next week there is going to be a huge release of advanced USD GDP data. This should be of great importance to the market, and where central bank input is concerned, it should also be of importance to the Euro and even the Japanese Yen as well. The index for the USD is reasonably large and it is also very convincing when you look at the bullish trend. The consolidation pattern has lasted around 3 months and the price is very close to the level that it was around 3 months ago. This suggests that the bearish trend is about to, finally, come to an end. Next week is going to be above the overall level of resistance and this would certainly bring an end to the bearish trend.

When you look at the USD pair, you’ll find that they have been bullish for quite some time but there is a high chance that this is going to turn more bearish over time. When you look at the USD index you will find that the price is very close to what it was a couple of months ago and this is certainly going to bring an end to the trend in general. The chart certainly shows that there is going to be a very narrow consolidation pattern and this Is going to turn more bearish over time. One major breakdown below the range could show that there is going to be a bearish cycle and that this is going to give traders who have been going for quite some time a lot of support. When you look at the British Pound and even the Yen, you’ll soon see that it is gaining a lot more strength when compared to the Euro and that this could make the Dollar turn bullish. The Euro is easily the best way for traders to try and exploit this.

Crude oil is also showing a very long-term trend in the bullish direction. The price is continuing to make over 3 and a half year highs and the last week’s candle alone was very low in terms of bullish potential. New and higher prices are not to be ignored however, and there is a strong trend for the long-term. The tension in the Middle East is continuing to push in the sentiment of higher prices but only time will tell whether or not this is going to happen.

When you take a look at the US stock market and the index that comes with it, it isn’t hard at all to see that the stock market is looking bearish. The moving average that is shown in the daily chart is way below the 200 moving average and this is showing a support. The level above the 2674 seems to be acting as a strong resistance however, but a breakout on the upper trend line could certainly be a bullish sign in terms of the stock market.


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