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Week16

#USDJPY, long and short in Week 15, remain bullish in Week 16?USDJPY moved as expected for the first half of Week 15, completing a 3 level bearish move. That move was quite fast as it completed in just half a week. Following the completion of the bearish move, it then makes a bullish movement that took back the bearish move made during the first half of the week. What a strong bull we are seeing! Traders who took short positions would have made a good profit, before getting out, and traders taking long trade would have made a good profit as well. Week 15 is indeed profitable for both sides of the market. While a strong bull came in and made a new bullish level, the analysis pointed us to expect some form of consolidation before the price continues its upward trend. For that matter, I am placing a neutral outlook for USDJPY as some form of consolidation is expected before the bullish upward move. In addition, it is quite a big range between the low and the high of bullish level 1, so being cautious and wait for a good entry to long might be the better option now. If my analysis helped you in any way, I hope you can like and follow me on Tradingview! =)
by xunnobi
2
#EURUSD, expected bull in Week 15, turning bearish in Week 16?EURUSD moved as expected from Week 15's analysis. It made a bullish move and break into bullish level 3 ending the week with a full bullish move. Traders going long would be rewarded, however, short sellers who caught the dip in the middle of the week would be rewarded as well. In this week's analysis, we see that the pair has gone up to bullish level 3, where potential reversal usually occurs. While it is still premature to say that a complete reversal shape has been formed, it pays to be prudent and avoid the pair till the next signal comes along. So for the lack of any price pattern and just the fact that it is currently in bullish level 3, I am going to place a neutral outlook on EURUSD. For traders who want to trade the EURUSD, it pays to monitor and look for long or short signals. If my analysis helped you in any way, I hope you can like and follow me on TV! =)
by xunnobi
1
#USDCHF, bullish in Week 15, bearish for Week 16?USDCHF continued its upwards movement in Week 15, dashing all dreams and hopes for traders with a short view of the pair (Including me). I took a couple of losing trade with USDCHF and understand that it will no longer stay bearish and I exited with some losses. While the movement isn't earth-shattering, it is good to minimize floating losses. The pair continued to break upwards to bullish level 4 and it formed a reversal pattern, H&S, which made this week's analysis a bearish one. While the analysis showed a potential bearish move in Week 16, for traders taking short, it is good to set stop loss of some sort to prevent unexpected upward move again. For Week 16, I am in line with the analysis to take a short view on USDCHF, thus I would be entering short again in stages. If my analysis helped you in any way, I hope you can like and follow me on TV! =)
Short
by xunnobi
GBPUSD, ranging in Week 15, ready for Week 16GBPUSD did not make much of a move in Week 15, instead, it spent most of its time ranging. This is a perfect market for day traders and traders who go for 30 to pips each trade. In Week 14, the analysis pointed GBPUSD to make a bullish move in Week 15, while it did rise a little, it is doing in a ranging fashion. For all the long traders in Week 15, profits could be made. The same goes for short traders in Week 15. Week 15 was generally less risky and had good opportunities for traders on both sides. In Week 15's analysis, it continues to point to the possibility of a bullish movement of the GBPUSD. Since it is still at the same level as Week 15, I will continue to take a long position in Week 16, waiting for the bullish move to be made by GBPUSD. I hope all traders continue to make a good profit in the coming Week 16! If my analysis helped you in any way, I hope you can like and follow me on TV! =)
Long
by xunnobi
2