Let us begin. This do not look too good.
It seems to us that GBPUSD, GBPJPY and USDJPY shows sign of a false signal of SELL and reverses.
This week GBPJPY generated a buy signal though it remains where it will goes since week ended near the Buy entry signal price of approximately 171.68 - closing at 171.09. Remember, set a Stop Loss of 200 pips just in case the market goes into zigzag mode.
GBPUSD behaved in similar manner with a new buy signal but it fails to hold its ground. Entry around 1.6647 and week ended low of 1.6566.
USDJPY fared better with its buy signal maintaining a upward trend with entry around 103.16 and week closed at 103.26. If the price breached its upward trend line next week, we shall see a round of downward trending.
No comments:
Post a Comment