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#GBPUSD, impressive bear in Week 19, what about Week 20?GBPUSD moved a different direction as what was expected from our analysis last week. It made a gap at the start of the week and went down all the way without looking back. It stopped the price movement in bearish consolidation zone 2 and ended the week with a hint of a continuation of the trend. As the pair is currently residing in the consolidation zone 2, the analysis would expect the pair to go further, reaching a level 3 before a reversal pattern show itself. I am currently holding open short positions as well and I am planning to exit when it hit level 3 and wait for a reversal pattern to complete itself before going long. The whole process of hitting bearish consolidation zone 3 and the completion of the reversal pattern can take the whole week of Week 20, we just got to be patient and wait for it. Thus, the short term outlook remained bearish and would only turn bullish after the reversal pattern at consolidation zone 3 shows itself. I hope all traders continue to make good profit in Week 20! Please like and follow me if my analysis helped you in any way! Thanks for the support! =)
Short
by xunnobi
#EURUSD, expected consolidation in Week 19, how about Week 20?EURUSD did not make any strong move in Week 19, and it has moved comfortably within its consolidation range. I personally only took one signal in EURUSD in Week 19 as it seems not to show any good signals. The price is currently sitting at the top of the consolidation range and it is still unsure if the price would fall back to the consolidation range or would it make an upward break in Week 20. Thus, the analysis is not suggesting taking any bias outlook at the moment and wait to have a clearer picture before taking a stand. I hope all traders continue to make good profit in Week 20! Please like and follow me if my analysis helped you in any way! Thanks for the support! =)
by xunnobi
#USDJPY, Strong bear in Week 19, can they continue in Week 20?USDJPY moved way beyond the expectation of the analysis. It opened with a big bearish gap and continued its downward move till Friday. Spectacular week for short traders, congrats to all short traders who made an awesome profit! In Week 19, USDJPY only showed the Bullish strength a few hours before the close of the market. USDJPY threw a reversal pattern at its bearish level 5 consolidation, and it is easy to miss the entry since it is near the end of the week. The analysis is pointing a bullish trend in Week 20 as we are now in the middle of the reversal pattern. A double bottom was identified as the reversal pattern and it seems to be able to move the pair upwards in Week 20. Personally, I will be adding long positions in Week 20, and the price pattern and analysis gave me great confidence that it will reverse itself to a bullish trend in Week 20. I am also currently holding two open long positions in USDJPY. I hope all traders continue to make good profit in Week 20! Please like and follow me if my analysis helped you in any way! Thanks for the support! =)
Long
by xunnobi
#USDCHF, downward break in Week 19, still bearish in Week 20?USDCHF spent much time in the range of level 1 and finally, it broke down to a new low towards the end of the week, moving into the level 2 consolidation zone. USDCHF moved much to what was expected of it, consolidation then followed by the trend move. I hope traders have taken advantage of the range and made good profits for yourselves! The analysis for Week 19 still points toward a continuation of the bearish trend in upcoming Week 20. The price broke into a new low and I am looking at USDCHF forming a new low in Week 20. With the analysis in place, I am comfortable going short in USDCHF for Week 20. However, a consolidation might also follows after a strong bearish move in Week 20. I hope all traders continue to make good profit in Week 20! Please like and follow me if my analysis helped you in any way! Thanks for the support! =)
Short
by xunnobi
EURUSD Analysis: Intraday Timeframe (1 hour) Chart Patterns Conclusion for today’s EURUSD Technical Analysis: Price closing above 1.12605 increases the chances of continuation of current bullish price swing from 1.11106. The 1 hour timeframe of the EURUSD is presented in this analysis with price action from the peak of 1.14471 on March 20, 2019 to current date. The overall downtrend from the aforementioned peak in price is captured in this analysis using a falling wedge (diagonal). The ideally bullish pattern implies higher prices in the Euro against the US dollars. 1.12002 price peak on May 1, 2019 met with resistance at the upper boundary of the wedge implies waiting for the EURUSD to successfully break the wedge before going long (buy). 1.12605 is indicated as the horizontal price level to consider entry of long positions as the EURUSD would have successfully confirmed the wedge and also resistance at 1.12605 price level. Price closing below 1.11878 does not bode well for the current uptrend and does increase the chances of the EURUSD closing below 1.11106 and re-visiting the lower boundary of the wedge.
Long
by Coin_Analyst
CADCHF Analysis: Bearish BiasConclusion for today's CADCHF analysis: A sell off in the CAD CHF is anticipated that should last for weeks or months The Daily timeframe of the CADCHF is presented in this analysis with a falling wedge chart pattern highlighted. A falling wedge is ideally bullish, but in this case, price consolidating and selling off at the upper boundary of the wedge implies bearish consequences. A bearish divergence on the Daily timeframe also argues for a sell off in the CADCHF and trade is expected to last for weeks to months. Target for such a trade is the long term bullish trendline in the CADCHF or the lower boundary of the wedge.
Short
by Coin_Analyst
USDJPY - SHORT - RISING WEDGE + DOUBLE TOPWAITING FOR A WELL RECOGNISABLE CONTINUATION PATTERN WITH AN IMPULSE BREAK TO CONFIRM THIS SELL OTHERWISE NOT ACTIVE AS OF YET. Bias: Short Targets: Based on Fibonacci and structure Confluences: Rising Wedge (Reversal) Double Top on daily resistance Overall downtrend On HTF - rejected with a bearish impulse from monthly resistance RSI Divergence (Double Top) Fibonacci Inversion measured on wedge pushing the price to daily support
Short
by zorrays