End of Week Review 16th September 2017
Monthly Chart
*September month has not been completed yet.
Candlesticks
But it is slowly forming a doji > this makes 2 doji – tweezer bottom (not yet realized).
Formed S/R level 110
Technical Indicators
MACD histogram = flattening
MACD lines = still downtrend.
Stochastic = still downtrend.
>they are both lagging.
S/R Levels
114.2
112
*111.5
>111.1
>110.4
*109.5
109
108.6
108.1
**107.5
Currently it is at 110.8 (week closing price).
It has tried to touched 111.3 but still came down.
It touched 107.5 but was propelled upwards strongly to 111.3 within 2 days >there is a strong propellant to keep USD at >107.5 level.
If bullish trend continues, 111.5 might be attempted to be touched again or be attempted to be broken.
WEEKLY CHART
Candlestick
A very bullish Marubozu has appeared.
It touched 107.5 s/r and bounced to touched another s/r 111.3.
Technical Indicators
MACD line = downtrend.
MACD histogram = uptick – start to be bullish > this is not 100% reliable.
Stochastic = up tick.
CCI = up tick.
Calendars
Thursday 21st September 3AM = US Rate Announcement.
Friday 29th September 9.30AM = Japan Job and CPI.
Conclusion
Based on scheduled calendar, there is nothing that will shock the market.
US Rate (increase or not) won’t jolt the market.
Likely, for the next week Monday 18th September to Friday 22nd September, bullish trend might continue ie If bullish trend continues, 111.5 might be attempted to be touched again or be attempted to be broken.
Monthly Chart
*September month has not been completed yet.
Candlesticks
But it is slowly forming a doji > this makes 2 doji – tweezer bottom (not yet realized).
Formed S/R level 110
Technical Indicators
MACD histogram = flattening
MACD lines = still downtrend.
Stochastic = still downtrend.
>they are both lagging.
S/R Levels
114.2
112
*111.5
>111.1
>110.4
*109.5
109
108.6
108.1
**107.5
Currently it is at 110.8 (week closing price).
It has tried to touched 111.3 but still came down.
It touched 107.5 but was propelled upwards strongly to 111.3 within 2 days >there is a strong propellant to keep USD at >107.5 level.
If bullish trend continues, 111.5 might be attempted to be touched again or be attempted to be broken.
WEEKLY CHART
Candlestick
A very bullish Marubozu has appeared.
It touched 107.5 s/r and bounced to touched another s/r 111.3.
Technical Indicators
MACD line = downtrend.
MACD histogram = uptick – start to be bullish > this is not 100% reliable.
Stochastic = up tick.
CCI = up tick.
Calendars
Thursday 21st September 3AM = US Rate Announcement.
Friday 29th September 9.30AM = Japan Job and CPI.
Conclusion
Based on scheduled calendar, there is nothing that will shock the market.
US Rate (increase or not) won’t jolt the market.
Likely, for the next week Monday 18th September to Friday 22nd September, bullish trend might continue ie If bullish trend continues, 111.5 might be attempted to be touched again or be attempted to be broken.
For Week Monday 18th September 2017 - Friday 22nd September 2017: bullish trend might continue.
FOMC announcement (Friday AU time) might be incorporated in the week’s movement.
Currently at 110.8, the next s/r level = 111.5 and the previous s/r level = 109.5.