Forecast and Strategy for This Week's Market (7/29–8/3)

Hello, this is OnePisTore (@onepipst)

I have prepared a weekly market forecast and strategy, please take a look (7/29–8/3)

I also tweet about profits and other useful things, so pleasefollow on Twitter.

YouTube channel

https://www.youtube.com/channel/UCd7eOHBGyBMROlHWh9S1yWg

Table of contents

1. USD/JPY (Dollar/Yen)
2. EUR/USD (Euro/US Dollar)
3. EUR/JPY (Euro/Yen)
4. GBP/USD (Pound/Dollar)
5. GBP/JPY (Pound/Yen)
6. Video
7. Afterword

【USD/JPY】

Long-term outlook is slightly down, short-term is up

The market is targeting the recent high (Fibonacci 61)

If the high is broken, the uptrend continues

However, if buying dries up, selling around the Fibonacci 100 of the pullback low or near the recent low Fibonacci 123 is possible

In that case, a short-term downtrend would form, so enter on the sell side

【EUR/USD】

Long-term outlook is down, short-term is down

Currently a strong selling atmosphere

With resistance from the short-term moving average causing selling, you may also go with a pullback sell

Conversely, if a rebound is expected

If a pullback to Fibonacci 38 or 23 occurs, consider selling from there

And you can buy on the counter-trend up to that point

EUR/JPY

Long-term outlook is down, short-term also down

A channel has formed recently

It may be okay to sell down to the channel lower bound

A pullback may occur, forming chart patterns such as a double top before further decline

If the Fibonacci 76 is breached upward, consider a pullback to Fibonacci 61 or 50

【GBP/USD】

Long-term outlook is down, short-term also down

A channel has formed recently

Selling could continue toward around Fibonacci 150

Support around Fibonacci 138 may hold, with potential rise toward the channel upper bound around Fibonacci 123

Possible rise to the short-term moving average

If so, enter on the counter-trend

【GBP/JPY】

Long-term outlook is down, short-term also down

A channel has formed recently

There may be a brief rebound around the recent low with some support

A pullback to around Fibonacci 76, followed by a drop

From there, aim for declines toward the low Fibonacci 100 or around 123

【Video】

The video is here

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【Afterword】

The market outlook and strategy I publish on YouTube weekly are usually quite accurate

What matters is how you apply that to trades and entries

When the market strategy is correct or incorrect, your trading approach and thinking will differ

And please treat entries as a separate matter

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