Hello to all, last week we all witnessed was full of rollercoaster rides, swings can still be felt. Will it continue this week or not is a big question. I also have no answer for this. Till now I used to trade with only one method, which was to buy the pair at support lines and sell it at the resistance lines, but this week’s forex market behaviour taught me a lot and forced me to change my trading style completely. You will see the change in my trading style in my coming posts.

Okay let’s discuss the last week first before moving to the forecast. Eur Usd staged a robust rise and was just shy of the 1.15000 mark. Gbp usd seemed completely unaware of what’s going on in rest of the forex market, traded at it’s normal pace, currently trading around 1.30500. It was Japanese yen’s strength and U.S. Dollar’s weakness which dragged the pair around 101.100, which was not exactly expected. Like Usd jpy, Usd chf dropped to some unpredicted levels, made a low around 0.91700. The pairs recovered so fast were Aud Usd and Nzd Usd. A commendable recovery was noticed in both the pairs. Just look at the daily candles of both the pairs. Let’s discuss the forecast of all these major forex pairs in detail.

Following is what will be the next in forex trading after rollercoaster rides last week.

Eur usd

Eur Usd :– We were happy to book profits around 1.12000. The following rise in the pair was unexpected and came as a surprise. The pair is currently trading around it’s resistance lines. The current price is the pair is 1.14000 after making marking a Top just below 1.15000. There are two ways to trade the pair:– 1. For Risky traders :– As the pair is trading around it’s Top and again and again hitting it’s resistance lines, pair can be sold on every rally to make good profits. 2. For Conscious traders :– However the pair is hitting it’s resistance lines, direction of pair is still in favor of bulls. Sell the pair only if it breaks the short term support line. I will update for that later. We are holding our sell positions in this pair and plan to sell if the pair advances further.

1st update for eur usd:– 12 March 2020 — Here is the first update for eur usd conscious traders. Bullish momentum started to decline. Also today is ECB, which is awaited. Traders should consider sell the rallies in the pair. Price is currently hovering around 1.12500.

Gbp Usd

Gbp Usd :– Gbp Usd not reacted to the U.S. dollar weakness like other pairs. The pair was expected to trade with bullish bias in our previous post. Pair touched the high near 1.32000 before returning to the current price of around 1.30500. The pair is trading near it’s resistance lines. There are two ways to trade the pair:- 1. For Risky traders :– As the pair is near it’s resistance lines after making a Top. To sell on rallies will be a profitable strategy to make profits in the pair. 2. For conscious traders :– However the pair is currently trading near it’s Top, pair is not ripe to sell yet. I will update later as the pair breaks it’s short term Support. We are selling the pair with rallies.

1st update:– 10 March– For conscious traders here is an update, pair finding it difficult to hold on upper levels, price may start to fall soon.

Usd Jpy

Usd Jpy :– We were expecting the pair to make a bottom near 105.00 . But the pair made a low near 101.100 yesterday due to global financial markets crisis. It is not clear if the fall is over or not. Right now the pair is maintaining it’s strength ,trading around 103.500. Obviously pair is continuing to hit it’s support lines according to our analysis. There are two ways to trade the pair:- 1. For Risky traders :– As the pair is continuing to trade near it’s bottom lines, to buy on dips strategy is still valid in this pair to earn decent profits. 2. For conscious traders :- However the pair is trading near it’s support lines, pair is not ready to buy until it breaks it’s near term resistance line. I will update later if it breaks. We are holding our buy and adding positions as the pair goes down further.

Usd chf

Usd Chf :– Usd Chf also behaved abnormally last week expected to make a bottom near 0.93000. In previous post we recommended to book profits and start buying near 0.96000. Pair made a low around 0.91800 before returning to the familiar levels of 0.93200. There are two ways to trade the pair:- 1. For risky traders :– As we already recommended to buy on dips, the strategy is still valid to earn decent profits. 2. For conscious traders :– However the pair is currently trading around it’s support lines, the pair is not yet ready to buy until it breaks it’s near term resistance line. I will update later if it breaks. We have no positions in this pair.

Aud Usd

Aud Usd :– Aud Usd was recommended to sell in our previous post as it was already trading around it’s support lines. The pair was expected to make a bottom around 0.63000. Our book profits and start selling price was 0.66000. The pair made a low around 0.62800 ,returned to 0.66800 , currently trading around 0.65700. Now there is only one scenario in this trade, to sell on rallies. But the will still take time to make a Top. The pair has potential to advance further for some time. I will update later about the sell opportunity in this pair. Those with buy positions should hold them. We have buy positions in this pair looking to book profits and to start selling the pair in coming days.

Nzd usd

Nzd Usd :– In Nzd Usd we recommended to buy the dips. However the following dips were more than our expectations, it is already stated many times that the pair’s range is larger than others and also it spends more time in consolidations. The pair was expected to make bottom around 0.62000. It dropped till 0.60000, currently trading around 0.63000. The pair has potential to advance further so carry on your winning streak for now. I will update later about it’s Top. Pair is currently in below it’s resistance lines but above the mid of it’s recent range. We have no positions in this pair.

Stay tuned for more in what will be the next in forex trading after rollercoaster rides last week.

DISCLAIMER:- Forex trading involves significant amount of risk, may not suitable for all. However the above information is deemed to be reliable, traders should trade according to their risk and money management.

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