USDJPY moved as expected for the first half of Week 15, completing a 3 level bearish move. That move was quite fast as it completed in just half a week.
Following the completion of the bearish move, it then makes a bullish movement that took back the bearish move made during the first half of the week. What a strong bull we are seeing!
Traders who took short...
EURUSD moved as expected from Week 15's analysis. It made a bullish move and break into bullish level 3 ending the week with a full bullish move.
Traders going long would be rewarded, however, short sellers who caught the dip in the middle of the week would be rewarded as well.
In this week's analysis, we see that the pair has gone up to bullish level 3, where...
USDCHF continued its upwards movement in Week 15, dashing all dreams and hopes for traders with a short view of the pair (Including me).
I took a couple of losing trade with USDCHF and understand that it will no longer stay bearish and I exited with some losses. While the movement isn't earth-shattering, it is good to minimize floating losses.
The pair...
GBPUSD did not make much of a move in Week 15, instead, it spent most of its time ranging. This is a perfect market for day traders and traders who go for 30 to pips each trade.
In Week 14, the analysis pointed GBPUSD to make a bullish move in Week 15, while it did rise a little, it is doing in a ranging fashion.
For all the long traders in Week 15, profits...
GBPUSD moved into bullish level 1 in Week 14, however, it went back down to create a new low for the bullish level 1 towards the end of Week 14, which would have flushed all the profit that long traders made early in Week 14.
Week 14 would be a good week for traders who take both long and short positions, largely the day and swing traders. The moves are quite...
EURUSD largely contained itself within the range in Week 14. Even though in Week 14, we expected it to drop, which it did, however, it went back up to the range at the end of the week.
Traders who went short would have netted some profit, traders who went long in the middle of the week will be in profit as well. In Week 14, both long and short traders can be...
In Week 13, we expected the pair to make a Trend Reset and have an outlook of neutral/bearish. However, in Week 14, the pair made a sharp rise and moved to a bullish level 3 zone.
Personally, I did not engage USDCHF in week 14, because I am unsure of the general trend, so even if I take a side, I might not be able to have a reasonable conclusion of the pair....
USDJPY made an unapologetic bullish move for the whole of week 14. Traders like me who are looking for short and have entered short for the pair would like to suffer a bad week if no change in outlook.
The analysis showed a strong upward movement in Week 14, however, it is also showing the pair has overextended the move. Currently, we are seeing 7 levels of rise...
