EURUSD, not a good week 7, expect a good week 8
In Week 7, EURUSD can be seen as a little confusing to traders. In Week 6, we expected a continuation of the bear trend, but we only see EURUSD keeps pushing and coming back to the zone of the previous zone. That could lead us to think that if the break of the zone has failed and instead stay long or stay out. I would like to think that it is ok to stay out in such an environment because, at first glance, it is a bit difficult to separate them out.
In week 7, I traded all the 4 symbols I analyzed here in tradingview, and I made about 7% profit in my PAMM managed fund and I hope my signal subscribers are happy with the results as well. If you have a bigger leverage and risk appetite, 7% would be minute as compared to your gain in week 7, I hope you make a profit from week 7's trading.
In the first half of week 7, it should be easy for traders to extract profit out of the bearish move of EURUSD. In the later part of the week, I started asking myself if it is going to reverse, and on Friday, I made up my mind that it might continue a downward trend instead. Like GBPUSD, towards the end of Friday, it made an explosive move upwards, which I stayed out as I decided to rest myself.
As we can see from the analysis of week 7, it did complete 3 levels of a bearish zone, however, each zone is close to another which would be the reason why traders might be confused over the status of the trend. The decisive upward move on Friday should clear the doubts that we should have, and we can expect an upward movement in week 8.
I would expect the pair to at least reach a level 2 bullish zone in week 8, and I am quite excited about it. I would be using the same entry plan as mentioned in my analysis of GBPUSD, to minimise the potential losses.
If you have any thoughts on EURUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
In week 7, I traded all the 4 symbols I analyzed here in tradingview, and I made about 7% profit in my PAMM managed fund and I hope my signal subscribers are happy with the results as well. If you have a bigger leverage and risk appetite, 7% would be minute as compared to your gain in week 7, I hope you make a profit from week 7's trading.
In the first half of week 7, it should be easy for traders to extract profit out of the bearish move of EURUSD. In the later part of the week, I started asking myself if it is going to reverse, and on Friday, I made up my mind that it might continue a downward trend instead. Like GBPUSD, towards the end of Friday, it made an explosive move upwards, which I stayed out as I decided to rest myself.
As we can see from the analysis of week 7, it did complete 3 levels of a bearish zone, however, each zone is close to another which would be the reason why traders might be confused over the status of the trend. The decisive upward move on Friday should clear the doubts that we should have, and we can expect an upward movement in week 8.
I would expect the pair to at least reach a level 2 bullish zone in week 8, and I am quite excited about it. I would be using the same entry plan as mentioned in my analysis of GBPUSD, to minimise the potential losses.
If you have any thoughts on EURUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
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