From a technical point of view, we have seen an interesting reaction on the support around 81.50 and this rally could develop the right shoulder of a bullish head and shoulders. At the same time, the swing on the weekly chart seems to have taken shape of a harmonic structure with the same target. All of this looks good, but if H&S wants to work properly, the pair shouldn't trigger a deep pullback over the next week, and the next weekly candle should still close above our neckline to confirm the pattern in formation. Speaking about the COT, last week, although the market remains mostly bearish, net short position was closed for about 27k. If our analysis is correct, a first phase of consolidation is possible, and a recovery in the second half of next week (see cahrt below).
If you want to support our work and you are interested in following this pair even on smaller time frame, click on "Like" buttom, thank you and trade with care!
Comment
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For the moment, we suspend all our publications and updates on TradingView:
cadjpy is a pair I follow as well, this is my view atm
Teddy
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that hurt.
Siegemp555
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This is interesting, I never pay much attention to comments, it seems the trigger word is "scammer". There seems to be some people coming in who don't publish much calling others "scammer". Who does 100% target ? Even hedge funds lose. Anyway. Maybe lockart is the real scammer, a thief will call other a thief.
TheAnonymousBanker
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@Siegemp555, you didn't understand anything I said!
Siegemp555
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@SignalSwiss, I was replying to your comment about suspending further publications and comments and you referenced a post to bitcoin with lockart which I read. Cheers
Please tell me how much fundamental analysis you use in your analysis?
Thank you