EURUSD, can Week 12's drop continue in Week 13?
Before I begin, a big apology to my fellow traders as I did not post the analysis for Week 11. I was in one of the broker's annual dinner hosted in Malaysia and I did not have my laptop with me, thus I didn't present my analysis for week 12. But nonetheless, I traded and I hope all other traders profited from the up and down movement. So lets us dive into the analysis for Week 12 now and see what can we learn for our trades in Week 13.
EURUSD made great moves in Week 12, it is very profitable for traders holding positions not more than 3 days. It has got a great rise and followed by a great fall.
In the first half of Week 12, it completed a 3 level of bullish movement which hinted to us that a bearish trend should be coming soon. During the second half of Week 12, it made two great drops which completed two levels of the bearish movement and now we can see that it ended the week staying in the region of the second bearish zone.
The analysis pointed to us that it would continue the Bearish move, however, be cautious that it can continue to stay in the consolidated second bearish zone for some time since it has dropped two levels in just a short span of two days.
However, the current outlook still points to a bearish trend. I would be staying at the sideline to watch the market movement first before scaling into the market.
I hope you guys continue to make a great profit in Week 13, and please help me to like and follow me if my analysis helped you in anyway! Thank you!
EURUSD made great moves in Week 12, it is very profitable for traders holding positions not more than 3 days. It has got a great rise and followed by a great fall.
In the first half of Week 12, it completed a 3 level of bullish movement which hinted to us that a bearish trend should be coming soon. During the second half of Week 12, it made two great drops which completed two levels of the bearish movement and now we can see that it ended the week staying in the region of the second bearish zone.
The analysis pointed to us that it would continue the Bearish move, however, be cautious that it can continue to stay in the consolidated second bearish zone for some time since it has dropped two levels in just a short span of two days.
However, the current outlook still points to a bearish trend. I would be staying at the sideline to watch the market movement first before scaling into the market.
I hope you guys continue to make a great profit in Week 13, and please help me to like and follow me if my analysis helped you in anyway! Thank you!
Penafian
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