Monthly charts represents series of data points where each data point is comprised of the price movement for a single month of trading.
This chart type has been used for a long time by traders and typically applicable for long-term trading.
EURUSD - Trade Analysis > Month of October, 2017
Updated: Trade Analysis > EURUSD
Timeframe: 3W
Expecting uptrend to continue toward 1.1870 / 1.1950 levels with test of 1.2030/37 resistance possibility.
Strong reversal expected which could lead to low target @ 1.1380 levels.
Overall monthly average high range expected to hold between 1.1870 / 1.1950 ...
EURUSD - October 2017 Trade Analysis
Timeframe: 1M
Expecting uptrend to continue toward 1.1910 - 1.2037 levels considering that 1.1744 - 1.1712 support levels hold.
Expect downtrend to begin as price falls below above support levels.
Firm break and hold of 1.1744 - 1.1712 levels will open path toward 1.1612 level.
In longterm, October, 2017 price range ...
Price broke support which is now acting as resistance. I will be waiting for bearish momentum to sell.
Price could possibly break through resistance hence the sell will be invalid.
- What I see on the monthly chart is one big Head & Shoulders pattern on the Pound/Dollar currency pair. Speaking relative to the long term context, price recently broke below H&S pattern & is now retesting resistance area.
Has oil already been priced at its lowest point on wave 3?
What if the fifth wave is done and the bear market is over?
Weekly close-up:
https://www.tradingview.com/x/A8PzqDIi/
Low volatility remains after it's .0668 test this month so far which calls for a bullish correction.
*I suggest to also remain mindful that it might test the .0668 correction again before turning bullish. China's ICO ban is already priced in multiple charts, but still marks a significant fundamental risk.
AUDUSD Range Analysis for September, 2017
Low @ 0.7880
High @ 0.8120
Increase = 0.6%
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.
EURUSD Range Analysis for 2017 4th Qtr.
Low @ 1.1750
High @ 1.2630
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience
