Hello guys,
I have updated my view for the last day of the week and month for the following pairs:
Starting from the EURUSD, if this close up high (above 1.3030) , we are seeing that the EURUSD closing up consecutively two weeks then. However, if it were to close way below 1.3000 level, then we can more or less be assured that the EURUSD might be heading downtrend instead.
My person take in this pair is to short, when the EURUSD break below 1.3000 again, and to stay out if it goes higher.
Next, we are looking at GBPUSD. After breaking out from the it’s weekly pennant patterns, the GBPUSD has been on a streak on closing down. Then it retraced up to 50% before heading down to 1.5000 level, and kept retesting that area. But realized that as much as this pair wants to break below 1.5000, we are seeing it testing that level twice this week, and twice last week. So, please find as attached the analysis for this pair.
Next, is the NZDUSD pair. if this pair continues closed at 0.8070-0.8100 range, we are definitely see another uncertainty bar closing up. Well, that would leaves us puzzling becoz the NZDUSD can definitely either head up or down, but one thing for sure is that the month of May, is the month of NZD BEARS force. Nevertheless, in the short run, I still hold the view that the NZDUSD will retrace. So as follows are the analysis of it:
Then we look at AUDUSD. Interestingly is this pair breaking down 1.0000 level in the first week, break past 0.9800 level second week and 3rd week past the 0.9700 and now into the 4th week, broke 0.9600 level. Needless to view the monthly chart, we know that the AUDUSD is similar to the NZDUSD, is the month of BEAR force. However, I would like to bring your attention to the fact that if the AUDUSD closes above 0.9600/0.9700, it would probably tells that the bear will be retreating very soon. Please find the analysis for AUDUSD once again, p.s I’m maintaining bull force on this pair now.
Lastly, it’s the USDCAD. This pair is important on how it closes for the week. One main reason is the fact that it went testing near 1.0450 level and notice that it doesn’t even break past 1.0420. If this pair closes 1.0250 – 1.0320 range, I think it is a good sign that this pair will most probably head down more. However, I still feel that this USDCAD has room to test higher alittle. Just a gut feel though.
Happy trading and happy weekend ahead! 🙂
Alternate Forex View 