EUR/USD WEEKLY MARKET ROUND-UP
October 2/2021
The pair have had a continuous downward trend since the prior weeks before the just concluded trading term. The bearish price action of the major pair was acknowledged to have been a confirmation of the double top candlestick chart pattern printed on the weekly time frame.
In view of the euro-dollar market, ahead of the next trading days market players will discover that there is a presence of bear responsible for pushing the price of the EURUSD market down. Hence the further movement of the price below the neckline of the double top candlestick chart structure will likely surge the surface of the EUR/USD approximately next week.
Technical indicators
RSI indicator approach oversold conditions at the time of writing this analysis. In addition, a quick or slow retracement in value of the price of the market could tend to stabilise the oversold situation of the RSI.
The volatility nature of the market is approaching the average level.
Conclusion; the market poses a bearish trading bias hence going short on this pair will result in absolute profit.
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October 2/2021
The pair have had a continuous downward trend since the prior weeks before the just concluded trading term. The bearish price action of the major pair was acknowledged to have been a confirmation of the double top candlestick chart pattern printed on the weekly time frame.
In view of the euro-dollar market, ahead of the next trading days market players will discover that there is a presence of bear responsible for pushing the price of the EURUSD market down. Hence the further movement of the price below the neckline of the double top candlestick chart structure will likely surge the surface of the EUR/USD approximately next week.
Technical indicators
RSI indicator approach oversold conditions at the time of writing this analysis. In addition, a quick or slow retracement in value of the price of the market could tend to stabilise the oversold situation of the RSI.
The volatility nature of the market is approaching the average level.
Conclusion; the market poses a bearish trading bias hence going short on this pair will result in absolute profit.
To prevent yourself from suspicious brokers I choose WikiFx to research brokers: