EURUSD made a strong rise in week 5, it raised from Monday to Wednesday, and only to die down on Thursday after seeing a reversal pattern on the M15 chart and follow by a second confirmation on Friday during the NFP which completes the reversal pattern on the H1 chart.
EURUSD completed its three levels of rise and ended week 6 with a complete bullish level 3 zone with a reversal price pattern, it points us towards a drop for week 6.
When I look at the Day Chart of EURUSD, I found that Friday did not move much but has given an indication of an impending bearish trend.
From the Weekly Chart of EURUSD, it seems a big price movement might be coming, even though I am unsure if it will happen in week 6 or not, but I will be waiting to short EURUSD.
Most likely, on Monday I will be entering the market with short positions since the H1 analysis points us towards completion of level 3 bullish zone coupled with a reversal price pattern, the D1 chart suggested a week bull and W1 chart suggested an impending big price movement.
That being said, stay flexible and open-minded and I hope all traders continue to make a good profit from the market.
If you have any thoughts on EURUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
I agree with you and everything is pointing down now. 1.137 is the first hurdle to take out where it should start sliding down. There might be a spike up from 1.137 to 1.143 which should confirm the bear trend.
xunnobi
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@Erland, looking forward to the drop =)
I just shorted 1 hour ago.