Hmmm... good coffee to start my day, hehehe, and an old Guns N' Roses album I just stumbled upon, heh, how much I miss those guys. Sure, they're still touring but with this all new guys, it's just so different.
Well, let's get back to business shall we?
AUD/USD
As we can see price is now at the Buyers level (1.0124). This is a critical point whether or not buyers will continue their hold on the market or will give up their position, we don't know yet.
Now notice the daily is in sideways phase, you can tell from the LSMA slope and candle formation, and price is also between LSMA and BS line. So this is consolidation phase we don't know yet where it will go next.
So our job here is to watch the daily phase and the Buyers level. If daily phase turns into uptrend phase and price is moving up away from the Buyers level, then we can assume buyers have total control of the market and might try to test the High (1.0186).
On the other hand, if daily phase turns into downtrend phase and price is moving down away from the Buyers level, then it means buyers are giving up and the next target might be around the Balance (1.0063).
EUR/JPY
Here buyers tried to break the High (114.01) but failed.
Notice that price is already below the LSMA, meaning the uptrend is weakening altough LSMA slope is still up so there's still possibility of continuation, in fact based on category the daily phase is really in sideways continuation phase.
So here our job is to watch the price action and LSMA. If price continues to move up and break the High, then buyers are really pushing hard and we'll switch our basis to another wave to find the next critical levels that price might go to.
And if price moves down and LSMA turns down, then our next attention will be the Buyers level (113.20).
EUR/USD
Price is already above the Buyers level (1.3665) meaning buyers are now in control and might try to test the High (1.3764).
Daily phase is in sideways continuation phase, it's a pause before deciding where to go next.
So here too our focus will be this daily phase, if the uptrend continue then our next focus will be the High (1.3764), and if buyers decide to give up, then price will pullback to Buyers level (1.3665) and that will be our next focus.
GBP/USD
Here buyers are trying to test the High (1.6279) but notice that price is already below LSMA and its slope is flattening. It's a sign that we might see reversal soon.
So again our focus will be the daily phase, especially the LSMA. If LSMA really turns down then buyers are giving up and price might pull back to Buyers level (1.6200).
And if buyers decide to continue their pressure then our focus will be the High (1.6279).
USD/CHF
Okay here sellers are trying to break the Sellers level (0.9438) to gain total control. So far daily phase is still in downtrend phase although we can see that several last candles formation is rather sideways, so sellers are pausing a little bit.
Here our focus will be the Sellers level, LSMA and price action. If the level is broken, then sellers will have total control and will try to push the price lower and our next attention will be the Low (0.9326).
And if sellers decide to give up, then price will retrace and might go to the Balance (0.9550).
Allright that's all for now, hope it helps, happy trading and have alot of green pips \m/
DISCLAIMER: THIS ANALYSIS MAY CHANGE ANYTIME ACCORDING TO MARKET CONDITION, ALWAYS TRUST YOUR OWN ANALYSIS AND SYSTEM
No comments:
Post a Comment