Forex Market Outlook For 22nd August, 2016
This Forex Market Outlook is about the pairs EURUSD, GBPUSD & USDJPY. Here you will find the technical analysis for the pairs in long term. Hope this will help the traders in taking the right decision for their trading.
EURUSD Upward Trend
There is an upward trend; however, it is getting weaker and weaker. Especially with the second and third peaks. Plus with all the FED/interest rate uncertainty there is a possible fall. If, on the other hand everything goes well, the trend will stay put and we will possibly see long-term gains. And that will be the signal for the long time traders to buy.
GBPUSD Long Opportunity
The pair is in a 4 hour up trend within the larger corrective structure, this move which is expected to go at least to the top of the larger corrective structure present another opportunity to go long. IMPORTANT: The setups posted here are not trade calls or signals and are intended for guidance purpose only and you should use your own strategy to determine entries and exits. They reflect my general view of the market and does not mean you should take the trades without a proper trading plan or strategy.
USDJPY Long Weekly Cycle
As long as price holds over the 100.20 the preferred trades are long only the break under this level would change the scenario and take us short. And now the pair is going short. So it will be better for the traders to go short.
So good luck traders! Take your position and start trading.