Market Analysis
EUR/USD pair this week had a very flat pattern until last couple of days, where we saw huge pull up, before equally sharp drop. The pair eventually closed on 1.1369, but the trend is very much into bearish mode and is likely to continue on that way.
GBP/USD pair this week was in neutral zone. Unlike most pairs, there was no clarity on the trend with this pair, we do see somewhat bullish bias, but still there is no clarity IF it is going to be upheld or not. It’s a good opportunity to do scalping with the scenario.
USD/JPY pair this week was in complete bearish trend. The moment week started up, it was very much clear that the trend was downside, and it remained that way through out. However, the last couple of days were extreme with the pair dropping over 200 pips, to eventually close around 111 levels.
EUR/JPY pair this week was in very much bearish trend and there was no signs of a pull up. The week started in somewhat flat way, but quickly had the direction and went non-stop. We don’t see any factor right now that could say about the possible direction, but it’s likely to be bearish.
EUR/USD pair this week was very quiet downside, therefore, it’s no brainer that we are likely to see some recovery in the week ahead, but overall the trend is still weighting down, which signals towards the bear without any question.
GBP/USD pair was mixed this week with massive drop coming into play, before we saw equally massive U-turn. With the sea-saw battle, it’s hard to pick the exact direction as of now. So, it will be BEST to trade only for short term to be able to gain.
USD/JPY pair after a long journey downwards picked up and is moving quickly towards the bullish mark. It was ideal opportunity to join in but now it’s showing better to go for shorts again, but until 110 level is not crossed.
EUR/JPY pair was amongst the few pairs this week that was rock-steady with no major gains or losses reported. However, the overall trend did signal towards a potential bullish run that’s set to come, so it’s good time to go for long.
EUR/USD was somewhat on the higher side with how the week started. It’s highly likely to stay in uncertain zone, which means it is not the ideal time to enter into long term trades. But going for buy looks a very reasonable bet here for us.
GBP/USD is in bullish mode so far this week, as we see the pair climbing towards 1.30 mark. But till it remain inside, it won’t be wrong to go for a trade here. But of course, we need to make sure that we keep tight stop loss just above the 1.30 mark.