Good day, dear investors and colleagues traders!
The currency pair continues to decline for the second week in a row. The trend, which was started after reaching a lower local maximum at 1.2641, found some resistance in the 1.2420 zone.
This week, the currency pair forms an upward channel after the fall, however, in contrast to the last time, in this case, there are no indicator data and volatility growth, which implies a trading figure - “Rising Wedge”.
This figure, often occurs after the fall of the asset and usually predicts the continuation of movement.
Following the results of the week: the currency pair showed a maximum of 1.2645 and closed the week +121 points.
Technical analysis:
H1
At the moment, the price chart is showing a wedge, given its behavior,
a currency pair can reach the zone 1.2510-1.2540 and from there push off to lower levels.
There are some similarities at the moment in the EURUSD and GBPUSD charts, perhaps we will see a synchronous strengthening of the dollar.
The managing director of WMCI Asset Management is Sergey Melnikov.
H4
Indicator analysis of overbought / oversold is in the neutral zone.
An indicator of price behavior is also in the “Normal price behavior” phase.
= ≥ The price is in the normal zone and maintaining short positions is an adequate trading solution.
W1
If you look at the daily chart, you can see how the price doubled off from the 200 daily moving average. Moreover, trend indicators began to decline, despite the fact that the price was trying to stabilize.
Volatility data and possible goals for the current month:
A) Average volatility:
- Weekly = 114 points;
- Monthly = 150 points;
- 3 months = 132 points;
B) Potential goals:
- For bulls = 1.2763, 1.2946 and possibly 1.3246
- For bears = 1.2280, 1.1980 and possibly 1.1797;
- Monthly pivot point = 1.2465;
! Attention, average volatility must be taken into account when placing stops, so that your order is not knocked down by market noise.
! Attention, potential monthly targets may be both final closing levels of positions and potential reversal levels.
Recommendations:
Continue to hold short positions with a break-even position.
Regards to subscribers,
Ltd. Wermelgion & Partners Investment
! Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
The currency pair continues to decline for the second week in a row. The trend, which was started after reaching a lower local maximum at 1.2641, found some resistance in the 1.2420 zone.
This week, the currency pair forms an upward channel after the fall, however, in contrast to the last time, in this case, there are no indicator data and volatility growth, which implies a trading figure - “Rising Wedge”.
This figure, often occurs after the fall of the asset and usually predicts the continuation of movement.
Following the results of the week: the currency pair showed a maximum of 1.2645 and closed the week +121 points.
Technical analysis:
H1
At the moment, the price chart is showing a wedge, given its behavior,
a currency pair can reach the zone 1.2510-1.2540 and from there push off to lower levels.
There are some similarities at the moment in the EURUSD and GBPUSD charts, perhaps we will see a synchronous strengthening of the dollar.
The managing director of WMCI Asset Management is Sergey Melnikov.
H4
Indicator analysis of overbought / oversold is in the neutral zone.
An indicator of price behavior is also in the “Normal price behavior” phase.
= ≥ The price is in the normal zone and maintaining short positions is an adequate trading solution.
W1
If you look at the daily chart, you can see how the price doubled off from the 200 daily moving average. Moreover, trend indicators began to decline, despite the fact that the price was trying to stabilize.
Volatility data and possible goals for the current month:
A) Average volatility:
- Weekly = 114 points;
- Monthly = 150 points;
- 3 months = 132 points;
B) Potential goals:
- For bulls = 1.2763, 1.2946 and possibly 1.3246
- For bears = 1.2280, 1.1980 and possibly 1.1797;
- Monthly pivot point = 1.2465;
! Attention, average volatility must be taken into account when placing stops, so that your order is not knocked down by market noise.
! Attention, potential monthly targets may be both final closing levels of positions and potential reversal levels.
Recommendations:
Continue to hold short positions with a break-even position.
Regards to subscribers,
Ltd. Wermelgion & Partners Investment
! Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.