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Today i was completely free, Boring sunday haha, So i see a lot of new trader’s are coming, I thought why not help them!
Learn Then Earn, Enjoy!

Happy Sunday Gents!! & I am back with my weekly analyses. However.... This weekend has been tougher for me to analyze. I usually have a pretty good understanding after the weekend as to where we will go however... they are doing a great job at keeping this uncertain in the current range. With the amazing bullish push Friday I expected Bulls to reach 1.089 or maintain relative distance. They did protect & important pivot point of 1.0845 but that can be easily be taken out by bears... we are not too far.

Bears managed to push back the bulls below an important & consistent trendline. Another important thing to keep in mind is that we are at the perfect FIB zone for bulls to make a push to the top. They not only protected the pivot point, but the 61.8% FIB area.

If Bulls push up you may wonder where bears might come in? They would come in at the 78% FIB which is 1.08620 area & also happens we have a trendline in that area.

I'm going to give a bullish analyses because a bearish one in this occasion is quite simple as we have many points where bears can come in, & also many confluences for a bearish trend.

If bulls come in I can see them trying to get back in to the trend that they where pushed out of on Friday. Where would that trend line & most likely resistance meet? It would meet at the current trend high & resistance of 1.089 & in my opinion they fail to re-enter the bullish trend & fail to break resistance.

HOWEVER.. If it breaks it.... I see 1.092 happening.

The market though US data has not been the best - even when data came in okay - the trend was not moving in the direction that was always fundamental.

I am not a one specific style of trader. I like to use several strategies to find the best conclusion. Harmonic Patterns, Support & Resistance + Trend Lines has worked great last few weeks, in combination Price Action. So I'm going mainly by these primarily.

When you trace Fibonacci on the daily time frame bulls are protecting 78% currently. I have also attached a D1 screenshot for you guys to see.

Cheers & good luck this week. Hope this can bring some clarity to some that need some guidance.

Local Support & Resistance Marked
Support: 1.0845
Resistance: 1.08550

Keep an eye on these for trend direction

Impressive!