Hello friends!
In this video I take a look at several charts in short-term through mid-term. The picture is complicated. There is a mix of good and bad news, and plenty of risk in the next week.
Key Observations
I will do a longer term analysis soon once we have a new 2W candle.
Meanwhile, good luck and good fortune!
In this video I take a look at several charts in short-term through mid-term. The picture is complicated. There is a mix of good and bad news, and plenty of risk in the next week.
Key Observations
- Possibility of a rally around June 23 is remote, if not invalidated at this point
- Lower timeframes (<6H) suggest lower prices are likely, potentially testing 1.30
- 12H and 1D charts could allow prices to fall to 1.25 in next 48 hours, but downward momentum is waning
- New 2D puts 1.15 on the table, but prices may not drop lower than around 1.25
- New 10D chart shows green EMA rising and bouncing off level 50. If prices remain above 1.25, a bounce is likely to hold, and could signal the start of a reversal at the end of the month or first week of July. If not, 1.00 is likely to be retested before a reversal can start
I will do a longer term analysis soon once we have a new 2W candle.
Meanwhile, good luck and good fortune!