Trading week #05 summary
This was an interesting week. Lets check how it ended.
I mentioned that 1.14 may be a resistance for eur/usd. This pair started a week with move up, but 1.14 was a top of that move. Now eur/usd is going lower. We are talking here about 1.12 as a support and 1.14 as a resistance. Next week should show in which direction eur/usd will go.
I like Jen pairs but now usd/jpy is in range which started about two weeks ago. Check this daily chart:
usd/jpy moves in 117-119 range which is little boring. Price is below 50 moving average which is a resistance and for now it looks that bears have better chances. We will see and watch closely for break in any direction.
This pair also started week with move up. It was going well for bulls up to 179 level. Weekly R1 resistance was to much for bulls and gbp/jpy ended a week below weekly pivot line.
Looks like there is a chance for a move down, check this weekly chart:
50 moving average on weekly is a suppoty to watch.
As you can see on many pairs and indexes we are in important points and everything is possible.