I am not a long term trader however it is often good to know the prevailing market bias so that we don't make huge short term projections against the prevailing market bias. When you take a short position in 2016 it would be a good thing to be conservative with your targets as the EURUSD is going up. Once the 1.1059 break happens I see an area of resistance at...
Important week ahead for EURUSD. In US ( ISM, NFP and Unemployment ) while in EUR ( CPI and bank rate decision) will be driving forces behind EURUSD move.
I expect short term bullish correction to be initiated by the bounce from 628 Fib retracement at the support levels 1.118 until 1.14 area will be retested and one might consider to rejoin bearish long term...
STRANGELY, WHEN I DID MY REGULAR ANALYSIS ON THIS PAIR I SAW FURTHER BULLISH, HOWEVER, MY SO CALLED CANDLESTICK GENERATOR IS GIVING ME THESE 3 OPTION AND THEY ARE ALL BEARISH. STRANGER IS THE FACT THAT THE 3RD OPTION IS SHOWN AS MOST LIKELY SO I'M WATCHING THIS PAIR FOR THE NEXT DAY TO SEE HOW IT PLAYS OUT.
AGAIN, THIS IS NOT A TRADE IDEA, IT IS STRICTLY...
OK, SO LAST WEEK I MENTIONED THAT I FIGURED A STRATEGY TO PREDICT THE NEXT CANDLE. I MUST CLARIFY THAT I WAS REFERRING TO A SCALPING STRATEGY, AND I'VE ONLY USED IT ON A 5 MIN CHART SO FAR. SO I RECEIVED A CHALLENGE FROM SOMEONE TO DO IT ON A DAILY CANDLE, SO THIS IS MY FIRST ATTEMPT TO DO SO.
PLEASE KEEP IN MIND, THAT THIS PREDICTION IS IN NO WAY ME PREDICTING...
