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This week has shown indecision in the market where the first few days the price did not show clean direction.
With the support of bullish traders the price has changed the direction and ended the week above $1.20800.
If the price could close above the $1.21280 price it would mean the buyers...
The price managed to return back into area between $1.20800 and $1.21793 leves.
It is an area where the price has been around since December.
In the next week I will wait for the price to define where it will move for the next few weeks.
If the price close above $1.21793 level I will look...
The market has changed its direction and price managed to break below uptrend channel.
The price has broken even below first support $1.20000 which did not show too much strength.
The price could find resistance at the confluence of resistance around $1.20800.
From there the price could move...
This week the price has made a bounce down to the first support at $1.20800.
The price took three days to reach the support which means bulls were strong enough to hold the price on the upper side.
In the next week I am expecting the price to break out fromt this small range.
If that happens...
Last week I pointed out the price could reach $1.20800 level and bounce back to $1.21793.
The price reached $1.20800 and bounced on Monday back up.
For the next week I am waiting for the price to make a move.
If the price closes on a daily basis above $1.21793 I am expecting to reach...
Strong bearish candles last week was a sign of bears strength and that has been confirmed on Monday.
The price has fallen down to $1.21500 which was a sign that the price will move down and by end of the week the price reached $1.20800.
$1.20800 is a support level that held the price from...
The return inside range was strong. Two large bearish candles have wiped two weeks’ bulls’ work.
The price stopped at the support level $1.21793.
That level is the previous confluence of support which is now preventing the price from falling down.
If the price does not close below $1.21600...
The most volatile pair I have researched is visible on the graph below. One that is not visible on that graph, but it is below the first one is XAUUSD. Gold. He is the most volatile pair I have seen up to now.
XAUUSD
We had EURUSD making a bullish candle on the confluence support area right at the start of the week.
As I said in the previous week EURUSD forecast the support $1.21793 was the support that holds the price from falling down.
We can expect the price to reach a confluence level of support and...
In the previous week forecast I have mentioned that the pair could make a retrace back to $1.21793 which happened already on Tuesday.
The price retraced back strongly and formed a bullish Pinbar. The Pinbar shows us that the market is still supported with strong buyers waiting on the support...
At the beginning of the week the price has stalled at that level. The price returned back to the previous uptrend channel resistance line and then bounced back up.
The next day, on Tuesday, the price made an indecision candle, but the candle closed with price above $1.21430.
The next week will...
EURUSD chart shows the price behaviour in the previous week. What is visible is the price pullback from $1.21793 to $1.20800 which is the first support level.
The daily close of Thursday candle was not above previous daily candles close, $1.21430 level, which is now an important resistance...
After reaching the $1.20000 level the price bounced down as a reaction to strong sellers and buyers who took the profits.
Strong resistance level acted as a strong psychological level(round number) that forced buyers to exit and sellers to enter.
At the $1.20800 level price could find support...
The market week behind us has done a huge move forward. The price has done two things I have mentioned in the previous week forecast.
The price:
Made a pullback to $1.18150 – $1.18200 area
Bounced back above $1.19000
New highs for EURUSD are in this order.
First high is around $1.20800 where...
You are welcome.
I cannot tell you what to do. You should do your own analysis and make a decision based on that.
If the chart and analysis can help that is great. I am not a financial advisor so I cannot suggest what to do. Sorry.
In the analysis from the last week I said that the market does not look too bullish that would move the price easily up to $1.19000. The market overview shows just that.
The pip range this week was 80 pips and it means that the price was in the indecision area. The middle of the range area...