The failure at the 0.7200 resistance makes me turn neutral and I want to see price action for the next few days before deciding bias.
This is my forecast for the week ahead. It will be updated everyday during asian session for any changes. Do scroll down to look at the comments for updates.
If my charts are not clear, you can pm me anytime to ask any questions, I am more than willing to help. And if you want to look at my positions, you can click my etoro link from my profile, you will see my trading positions under portfolio.
Nothing is 100% in trading, it is a game of probabilities. Be nimble when trading, never have a strong bias. I can turn from bullish to bearish in a day if price action tells me so.
This is my forecast for the week ahead. It will be updated everyday during asian session for any changes. Do scroll down to look at the comments for updates.
If my charts are not clear, you can pm me anytime to ask any questions, I am more than willing to help. And if you want to look at my positions, you can click my etoro link from my profile, you will see my trading positions under portfolio.
Nothing is 100% in trading, it is a game of probabilities. Be nimble when trading, never have a strong bias. I can turn from bullish to bearish in a day if price action tells me so.
Comment:
Wednesday
Still waiting for the downmove before deciding bias.
Still waiting for the downmove before deciding bias.
Comment:
Thursday
We just hit a huge resistance zone, just stay away and wait for a clear possibly bearish signal.
We just hit a huge resistance zone, just stay away and wait for a clear possibly bearish signal.
Comment:
Friday
I am expecting more sideways movement, however we could be near a turn, but no trade yet until we get a clear bearish signal.
I am expecting more sideways movement, however we could be near a turn, but no trade yet until we get a clear bearish signal.
Comment:
Monday Jan 30
I don't want to be bullish in this area with strong resistance. Wait for the resistance to be taken out first. Else wait for a bearish signal which we don't have yet.
I don't want to be bullish in this area with strong resistance. Wait for the resistance to be taken out first. Else wait for a bearish signal which we don't have yet.
Comment:
Tuesday Jan 31
Still waiting
Still waiting
I would wait for the downmove to develop before deciding bias. If it was deep then we might have a trend change.