Last Friday 11th July, FCPO closed higher at 3,575 points right above the 61.8% Fibonacci retracement line. What is the market outlook for FCPO for this coming week? Overall mid-term trend is still bearish. How about short-term trend? Today, we have three guest speakers in this post, Mr. Chart Pattern, Mr. Fibonacci and Mr. Elliot Wave.

The Internet is replete with so-called “expert” advice on just about everything…and the Foreign Exchange Market is no exception. The trouble with all of this is that bad advice is often given and repeated until it becomes accepted wisdom.