We all saw the EU moving strongly bullish after the US data showed weakness in the economy. But will this USD weakness continue? Is this a sign that the market is reversing or is this a minor retracement?
Well this is very much a retracement. How? With all this bullish candles showing the strength in the foreign currencies. Let me break it down a bit.
Now we see...
Every trader knows that the higher timeframes rule the market. Now after a 2011 low created by the Swiss franc, the USD has failed to break the Lower lows created by CHF, which means the pair is still in a down trend. Price has been consolidating since 2011, and considering a buy at this point is not ideal.
After observing observing price failing to break thr...
The trendline has already been broken here, previous higher lows has also been violated, creating a strong bullish movement. But the retest can either break its previous highs and continue in the uptrend, or break the previous lows and continue in the downtrend which will then obey the trendline. there might be a few consolidations, but after breaking a key level...
The market has been really dull for a while, until it finally hits a key level which acts as a support, and then activated a strong bullish move. But the main question remains would the market continue or reverse? The market hits a support level and reversed immediately, but patience would decide if the market would continue in an uptrend or continue the bearish...
GBPJPY has experienced a nice Mark-up phase, but this phase could continue when the market opens again.
There is also a strong resistance point at the current price, which could be broken, but due to this resistance the market could be at a distribution phase, and the bears are beginning to enter the market. so until a breakout happens at this current resistance,...
