Hi, I am so sorry for the delay n posting my candlestick analysis, but
I am very busy this week, and if God's will I will restart posting my
analysis after a week.
May Jesus Christ bless you all.
| EUR/USD attempted to rally again late yesterday, possibly on weakness in US equity markets. But overnight, the stronger USD and saw 1.2195 area support fall, and now we focus on 1.2130 as the last support holding the pair back from a retest of the 1.2000 area. 1.2195 is now resistance. Further out, we may look for EUR to find strong support. |
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| GBP/USD looks like it is finally committing lower, with a fall through 1.7900 further confirming that we should focus on 1.7800 now and possibly even 1.7500 eventually. 1.7970 is first resistance, followed by the 1.8020 area. |
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| USD/JPY rallied strongly overnight, possibly for technical reasons as the 110.15 minor resistance was taken out. Still, 110.80 is an awfully big barrier. If the pair can pull through that level, then we're looking at the range between 111.50 and 113 again. To the downside, 110.00 looks like a swing level. |
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| EUR/USD found resistance below the 1.2260 ideal resistance area, though a positive boost from Germany and EuroZone sentiment surveys still presents a risk that the pair could revisit the 1.2300 area before heading lower again. Support appears robust around the 1.2200 area for now. |
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| GBP/USD can't make up its mind which way it wants to go, but the preference is for it to eventually head lower, especially if it stays below yesterday's high and the resistance at 1.8047. A move through 1.7900 encourages the view toward 1.7800 and possibly even 1.7500 eventually. |
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| USD/JPY still looks heavy, and a fall through 109.50 again could encourage a test of the crucial 108.90 area, which guards the gates to much lower levels still. The upside swing level comes in around 110.00 - this was briefly breached this morning, but must hold if it is to help swing the pair higher. 110.80 is the key resistance higher still. |
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| EUR/USD found resistance below the 1.2260 ideal resistance area, though a positive boost from Germany and EuroZone sentiment surveys still presents a risk that the pair could revisit the 1.2300 area before heading lower again. Support appears robust around the 1.2200 area for now. |
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| GBP/USD can't make up its mind which way it wants to go, but the preference is for it to eventually head lower, especially if it stays below yesterday's high and the resistance at 1.8047. A move through 1.7900 encourages the view toward 1.7800 and possibly even 1.7500 eventually. |
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| USD/JPY still looks heavy, and a fall through 109.50 again could encourage a test of the crucial 108.90 area, which guards the gates to much lower levels still. The upside swing level comes in around 110.00 - this was briefly breached this morning, but must hold if it is to help swing the pair higher. 110.80 is the key resistance higher still. |
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The tongue that brings healing is a tree of life, but a deceitful tongue crushes the spirit.
Proverbs 15:4 (NIV)
EUR/USD weekly chart showing tweezer top, indicating a possible bearish continuation pattern, but beware of possible bullish Monday as a normal start of the candle.