Okay, this time I'll share you my (newbie) weekly analysis for next week, starting on Monday, Feb 14, it's valentine day by the way.
I hope you find it useful, especially to those who trade on weekly basis, even if you don't, you might still find some critical levels to watch this week, and hopefully enough profit to buy your loved ones something (like diamond ring for instance :D).
Let's begin with AUD/USD
Here we have the upwave A-B is the basis for the current downwave.
As we can see price had reached the Balance (0.9998) and currently still playing around that level. This level is very crucial since we can assume it as the zero point, where buyers and sellers strength is equal, and there's 50-50 chance the price will go either way.
If price goes up, then buyers start to gain more strength than sellers and the next target could be around the level Buyers (1.0097).
And if price goes down, then it's the sellers start to gain strength and it might down to the level Sellers (0.9899).
Now notice that the LSMA is still pointing down while price is trying to play above it. It's a sign that selling pressure is loosening although more effort is needed to actually reverse direction. We can say that sellers are pausing for a moment and God only knows where the next move is.
So keep your eyes on the balance and LSMA to see where the price is heading next week.
Next is EUR/JPY
Here the downwave A-B is our basis.
The current upwave has reached the level Buyers (113.21) and it seems unbroken so far. This level is critical since here the percentage of strength is 75%-25% in buyers favor. If it's broken, then buyers will have total control of the market and might push the price higher although we don't know yet if they can break previous high (114.01) to set a new one. Otherwise the price will try to move towards the Balance (117.40).
Notice the LSMA already flattening and price is below it. It's a sign that sellers are trying to reverse direction.
EUR/USD
Based on the upwave A-B, price is already down below the level Buyers (1.3619), meaning buyers are losing strength.
Also notice the LSMA is pointing down, so here there's good chance that price is heading towards the Balance (1.3370). Unless of course if the price moves up above the level Buyers and LSMA points up, then it means buyers regain strength and will push the price up.
GBP/USD
Well, here too buyers are losing strength. Price is below level Buyers (1.6044) and LSMA is pointing down. So the next destination might be around the Balance (1.5810).
Unless of course if price moves up above the level Buyers and LSMA points up, then it means buyers regain their strength and might push the price up.
USD/CHF
Allright, based on the downwave A-B buyers are in total control of the market and it looks like it's about to test the high (0.9786). If this high is broken, then it means the small wave already move according to the bigger wave, in this case we'll switch our preference to a bigger wave, the downwave M1-M2. There we can see there's the level Buyers at 0.9872, and this could be the next target.
But if buyers can't break the high, then there's a chance price will retrace and retest the level Buyers (0.9671) or the bigger wave Balance (0.9682).
Notice the LSMA is still up so at this current moment, our assumption is still up.
Allright, that's all for tonight, hope you find this useful, enjoy your weekend and good luck with your trade next week, see you later \m/\m/
DISCLAIMER: This analysis may change anytime according to market condition without prior notification, and always trust your own analysis and system :D
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