Trading Support And Resistance - Sunday, July 21

This week we’ll begin with our monthly and weekly forecasts of the currency pairs worth watching. The first part of our forecast is based upon our research of the past 16 years of Forex prices, which show that the following methodologies have all produced profitable results:

Let’s look at the relevant data of currency price changes and interest rates to date, which we compiled using a trade-weighted index of the major global currencies:


Monthly Forecast July 2019

For the month of July, we forecast that the best trades would be short USD/CAD and short USD/JPY. The forecast’s performance to date is shown below:



Weekly forecast July 21

Last week, we made no weekly forecast. We make no forecast again this week.

Only 11% of the important currency pairs and crosses moved by more than 1% in value over the past week. Volatility is likely to be at least a little higher than this over the coming week.

Last week was dominated by relative strength in the New Zealand Dollar, and relative weakness in the British Pound.

Previous Monthly Forecasts

You can view the results of our previous monthly forecasts here.

Key Support/Resistance Levels for Popular Pairs

We teach that trades should be entered and exited at or very close to key support and resistance levels. There are certain key support and resistance levels that should be watched on the more popular currency pairs this week, which might result in either reversals or breakouts:


Disclosure: You can trade our forecasts in 

a real or demo Forex brokerage ...

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