I believe the current pullback in price is a healthy correction. over the next couple of weeks, I expect the 55k zone to be used as an area of accumulation, then a deviation to sweep the lows before running up to 100k.
not the best drawing but you get the analysis
The US dollar has been maintaining this level for the past few weeks, we can see that bulls don't have enough momentum to hold price above at this level. In addition, rice has just completed the last leg of the rising wedge pattern so we can expect bearish week with this pair.
Even though the EURO is way overpriced it is still gaining against much stronger pairs, however, EURO looks to be slowing down after the initial move yesterday we can see the double top at the Resistance Zone.
didn't see the bearish flag pattern, further, on the weekly, the pair is a huge bearish flag pattern with lower highs. probably wait for a retest of
1.33 before entering or see what price does within the next candle.
Gbpcad clean and simple short, we might see a stop hunt to the highs first before the midweek reversal comes in. patience is key for this pair as we saw a lot of fake confirmations on the 4hr chart.
This is drawn on a weekly chart.
Eurusd bounced of the weekly 61.8 retracements this week, we saw Bulls come back into the market after Draghi speech and push price higher. Euro is still substantially weaker due to subpar economic performance and no clear signs of an economic recovery in the Euro area. Euro should weaken against a strengthening Dollar, as we can see from the charts the bullish...