EURUSD, Strong rise in week 5, strong drop in week 6?
EURUSD made a strong rise in week 5, it raised from Monday to Wednesday, and only to die down on Thursday after seeing a reversal pattern on the M15 chart and follow by a second confirmation on Friday during the NFP which completes the reversal pattern on the H1 chart.
EURUSD completed its three levels of rise and ended week 6 with a complete bullish level 3 zone with a reversal price pattern, it points us towards a drop for week 6.
When I look at the Day Chart of EURUSD, I found that Friday did not move much but has given an indication of an impending bearish trend.
From the Weekly Chart of EURUSD, it seems a big price movement might be coming, even though I am unsure if it will happen in week 6 or not, but I will be waiting to short EURUSD.
Most likely, on Monday I will be entering the market with short positions since the H1 analysis points us towards completion of level 3 bullish zone coupled with a reversal price pattern, the D1 chart suggested a week bull and W1 chart suggested an impending big price movement.
That being said, stay flexible and open-minded and I hope all traders continue to make a good profit from the market.
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!
EURUSD completed its three levels of rise and ended week 6 with a complete bullish level 3 zone with a reversal price pattern, it points us towards a drop for week 6.
When I look at the Day Chart of EURUSD, I found that Friday did not move much but has given an indication of an impending bearish trend.
From the Weekly Chart of EURUSD, it seems a big price movement might be coming, even though I am unsure if it will happen in week 6 or not, but I will be waiting to short EURUSD.
Most likely, on Monday I will be entering the market with short positions since the H1 analysis points us towards completion of level 3 bullish zone coupled with a reversal price pattern, the D1 chart suggested a week bull and W1 chart suggested an impending big price movement.
That being said, stay flexible and open-minded and I hope all traders continue to make a good profit from the market.
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!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.