I hope that you guys have a good trading month so far.
The purpose of this post is to share with you my analysis on the EURUSD and GBPUSD at the same time
My EURUSD Analysis
On the 15 minutes chart, you can see that the EURUSD is in a strong down trend at the moment
On the hourly chart, you can also see that the trend has just changed from uptrend to downtrend
On the 4 hourly chart, you can see that the uptrend is weakening
On the daily chart, you can see that the price is still in an uptrend but it is moving toward the 100 EMA
With these 4 chart, I will conclude that the the price will most probably move down when the market opens as the lower time frames are showing signs of strong down trend plus the 4 hourly are showing weakening uptrend
In addition, the daily chart shows that the price is trying to move to touch the 100 EMA as the EMA serves as a gravity pull for price.
As a whole, I will look to SELL the EURUSD this week
My GBPUSD Analysis
On the 15 minutes chart, you can see that the price is in a strong down trend
On the hourly chart, you can see that the price has broke below the 400 EMA and then move back up and then break down again. It seems that the price is trying to move down on this time frame but we cannot confirm that it will move down until it manages to break below the 1.28622 level.
If you take a look at the chart, you can see that we have a SELL trade on this pair and we set the target profit at the 1.28622 area.
On the 4 hourly chart, you can see that the trend is now flat
On the daily chart, you can see that the trend is shifting up but it is now being pulled back by the 100 EMA gravity
As a whole, I will look to SELL the GBPUSD this week
If you are a user of my trade copier service, you will see that we have SELL trade on the EURUSD and GBPUSD at the moment but there are usually a strong spike movement when the market opens on Monday. I will keep a lookout for you guys when the market opens to see how it goes.
For those of you who are interested to join my trade copier service, you can take a look at the link below