Saturday, June 26, 2021 11:11 AM EDT
This week offered a retrace back above $1.19000, which I mentioned in the last weekly analysis.
The price closed the week above $1.19000, which means the next resistance is at $1.20000. The price reached almost $1.20000, but as you can see the Friday candle formed as a bearish Pin bar.
The candles that formed in the last three days look like bears could not move the price down which suggests bull’s strength. Strong resistance around $1.20000 is holding the price below which looks like it is losing its strength.
Current market overview tells me that we could see the price again around $1.20000. Candles that formed in the last three days look more bullish than bearish.
The daily close of each candle in the last three days could not close below Tuesday low. That means the price is making higher levels which we can see on Friday when it reached the highest price level.
But the peak was short lasting. And, when the price returned back down it did not close below any lof of each candle from this week. That means the bulls are stronger and there are no strong bears that could push the price down.
For the next week I am expecting the price around $1.20000 and then I will see what will happen.
Market does not look so strong to go beyond $1.20000, but it looks more likely to find resistance and then fall down to $1.19000. Resistance above $1.20000 is at $1.20800 and support below $1.19000 is at $1.18500 and then $1.17200.
Disclaimer: Any Advice or information is General Advice Only – It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By ...
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Disclaimer: Any Advice or information is General Advice Only – It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by author. Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures, spot Forex, CFD’s, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material provided by this author. The past performance of any trading system or methodology is not necessarily indicative of future results.
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