EUR/USD multi timeframe weekly outlook
WEEKLY CHART
Weekly close is a quite significant rejection with a little bit of indecision close to a psychological and technical level (1.15).
Expectation for the next candle, so for next week, is a slightly more bullish week. Reason for this is because of the indecision that's still visible. Longer term outlook would be a stronger bullish move if we look at the moment.
DAILY CHART
On the daily chart the bearish structure is still there. Looking for price to create a bottom with significant rejection near the 1.15 level to go up again. Makes sense if you look at the weekly chart again, there was still some indecision, looking at the daily chart you can confirm that by price not made a bottom yet.
4H CHART
On the 4H chart we clearly see price going down, showing a strong move up, one of the strongest in this downtrend, which may be an early sign of trend reversal. As long as we don't see a break up on the given level, we stay bearish.
1H CHART
A lot of indecision on the 1H chart. Loads of rejections, but if you would put a gun on my head, I would say bearish, because the creation of the highs are not that strong anymore.
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If you want me to do this more often, feel free to let me know and give some feedback! Always here for a trade talk.
Weekly close is a quite significant rejection with a little bit of indecision close to a psychological and technical level (1.15).
Expectation for the next candle, so for next week, is a slightly more bullish week. Reason for this is because of the indecision that's still visible. Longer term outlook would be a stronger bullish move if we look at the moment.
DAILY CHART
On the daily chart the bearish structure is still there. Looking for price to create a bottom with significant rejection near the 1.15 level to go up again. Makes sense if you look at the weekly chart again, there was still some indecision, looking at the daily chart you can confirm that by price not made a bottom yet.
4H CHART
On the 4H chart we clearly see price going down, showing a strong move up, one of the strongest in this downtrend, which may be an early sign of trend reversal. As long as we don't see a break up on the given level, we stay bearish.
1H CHART
A lot of indecision on the 1H chart. Loads of rejections, but if you would put a gun on my head, I would say bearish, because the creation of the highs are not that strong anymore.
----
If you want me to do this more often, feel free to let me know and give some feedback! Always here for a trade talk.
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