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this week We start with monthly and weekly FX predictions for notable currency pairs. The first part of my prediction is based on a study of foreign exchange prices over the past 20 years and shows that the following methodologies all produce profitable results.
Let’s take a look at historical data related to currency price changes and interest rates, compiled using a trade-weighted index of the world’s major currencies.
For September, we expected the USD/JPY currency pair to increase in value.
Here are the results so far:
There was no unusually strong countertrend price movement last week, so I won’t make any predictions for this week.
Directional volatility in the foreign exchange market was also very low last week There are only two significant currency pairs that fluctuate by more than 1% in a week. Volatility could rise further into next weekThis is because it is unusual for prices to remain this low even into September.
Last week, the US dollar was relatively strong and the Japanese yen was relatively weak. This is a long-term trend.
My predictions can be traded in a real or demo Forex brokerage account.
I teach that trades should be entered and exited at or very close to that point. Major support and resistance levels. This week, some of the more popular currency pairs have some important support and resistance levels to watch.
Let’s take a look at what we got when we traded two of these major pairs from their major support and resistance levels last week.
I expected the level of $1.2643 may act as resistance in GBP/USD currency pair last week, because it previously acted as both support and resistance. Notice how well these “role reversal” levels work. The price chart for the first half of the year is as follows: Price rejected this level during last Monday’s London trading (which can be the best time to enter a trade in a major currency pair like this). engulfing candlestick, The down arrow on the price chart below indicates the timing of this bearish rejection. This transaction is very Highly profitable, with a risk-to-reward ratio of 8:1 or higher. Based on the size of the entry candlestick structure.
euro/yen
I expected the level of 157.18 yen may function as a support for euro/yen currency cross last week, because it previously acted as both support and resistance. Notice how well these “role reversal” levels work. The price chart for the first half of the year is as follows: Price rejected this level shortly after the start of the Tokyo session last Friday (this could be the best time to enter trades in currency pairs or crosses involving the Japanese Yen, such as this one) ). A large candlestick that swallows you, Marked with an up arrow on the price chart below, it indicates the timing of this bullish rejection. This transaction is more or less It is highly profitable, with a risk-to-reward ratio close to 1. Based on the size of the entry candlestick structure.
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