I will like to take this opportunity to wish all of you guys here in my blog a Happy 2019 New Year and a pip full year in 2019.
I hope that you have benefited from my last week analysis. I have done the analysis for this week and please read it below
Like what I have told you in my last week analysis, the price has broke the triangle and is moving down.
The price has moved down around 236 pips and the price projection down move for this triangle breakout is 360 pips which means that there is another 124 pips more to go
However the price has hit a major support and is being held by it.
So please wait for a good opportunity to enter a SELL trade for this pair for this coming week
The price for this pair is still moving within a trend channel. It has yet to hit the resistance of the trend channel.
The support and resistance of trading works like gravity.
When the price is near to it, it will be attracted towards it most of the time. Therefore I will say that the price will move up to hit the resistance first.
I hope that this analysis will be useful for you
If you are still struggling in your trading, you can take a look at my course below
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