The EURJPY failed to push through a resistance zone at 116,00 and so failed to make a new high. RSI is in agreement with price movement.
Therefore it looks more probable that we will move down more, maybe even break the lower trendline.
The last push up failed to make a new high and now looks like it will move lower again.
The price movement is in conjunction with the RSI movement and we just rejected the upper Bollinger Bands.
Looks like we will move down next week...
The AUDCAD failed to make a new low on Friday and got rejected on the lower Bollinger Bands, which in this case are directly on a resistance zone.
Looks like its more probable that we will move up again and retest that previous high.
What should i say, more obvious doesn't seem possible :D
- New price high but no new momentum high
- Break lower afterwards and break of trendline
- Strong move downwards
Look for an entry and profit :)
The USDMXN moved lower last week, after faded momentum and a momentum divergence.
Looks probable that it will continue its downward movement, as we made a new momentum low and downward price movement looks intact.
The USDNZD looks like it finished its retacement to the broken trendline and is now ready to move higher.
Momentum made no new low, which is in accordance to the price movement.
Its definitly on my watchlist for the next week.
Lets see where it opens tonight and then look for an entry.
AUDNZD looks like its preparing for some upside movement:
- The Bollinger bands squeeze together
- New upside momentum is developing
- Price was not able to move lower into the outer Bollinger bands
Looks more probable to see a new upside movement next week.