6 pips between the open and close of the week. if anybody was long in the beginning of the week would close the week with 6 pips profit, or less depending on the spread.
however this 6 pips move has more to tell.
weekly candle ended up being a doji, which definitely buyers will find attractive. this feels like a fresh air after long and harsh dumping of GBP. but need to keep in mind that this is only one sign of a mid term bounce and nothing has been confirmed yet if this is the beginning. the possible levels to the upside are 1.45x and 1.49x. in a long run we are still in a downtrend and everything remains pretty much the same. 
daily chart shows us last 2 pinbars from the both ends and indecisiveness in the market. the main areas of interest of the few last days was actually decided on Monday, 1/18. I marked that with white horizontal lines. this zone will be visited early next week again. it is very important to keep an eye on the winner of this area and the speed of fleeing the black hole. 
4H shows more details of what has happened within this week. the game was played within 284 pips range. bear lost the control after thursday's dead cat bounce in parallel with increase in oil and commodity prices. unstable bears started closing their shorts, late sellers pressing the panic button after they saw some losses and of course, longs from few still alive hard core bulls.
what happened has happened. again, we are in a major down trend, but we also should not neglect this recent bounce, which i must say was pretty strong and sufficient to convert some people to bull's side as well forcing some bear out of market.
however this 6 pips move has more to tell.
weekly candle ended up being a doji, which definitely buyers will find attractive. this feels like a fresh air after long and harsh dumping of GBP. but need to keep in mind that this is only one sign of a mid term bounce and nothing has been confirmed yet if this is the beginning. the possible levels to the upside are 1.45x and 1.49x. in a long run we are still in a downtrend and everything remains pretty much the same.
daily chart shows us last 2 pinbars from the both ends and indecisiveness in the market. the main areas of interest of the few last days was actually decided on Monday, 1/18. I marked that with white horizontal lines. this zone will be visited early next week again. it is very important to keep an eye on the winner of this area and the speed of fleeing the black hole.
4H shows more details of what has happened within this week. the game was played within 284 pips range. bear lost the control after thursday's dead cat bounce in parallel with increase in oil and commodity prices. unstable bears started closing their shorts, late sellers pressing the panic button after they saw some losses and of course, longs from few still alive hard core bulls.
what happened has happened. again, we are in a major down trend, but we also should not neglect this recent bounce, which i must say was pretty strong and sufficient to convert some people to bull's side as well forcing some bear out of market.
As Above, So Below
