The forecast for week 4 of May 2022 is: Bull week candle and a Bear daily chart candle, quite the conflict
This assessment in no way considered financial advice.
This week on AUDJPY the refactoring took place per forecast. It is produced inside the bar. The volume was down from last week but this was expected as the currency re-organises itself. This candle presents another bull candle possibility this week. The OBV has a slight bullish tendency, see if you can find it.
When I look at the daily chart I can see just how the adjustment took place. It has now hit a point of resistance. The candle happens to be almost a doji, this is a good sign for the bears to continue. The Volume on Thursday was the largest, and this could indicate a quick return to selling. The OBV has trended down but now shows a small kink, so there is the potential for a bull candle here. This would be counterproductive for the bear trend to continue. There is more evidence of Bear this week on the daily chart.
This assessment in no way considered financial advice.
This week on AUDJPY the refactoring took place per forecast. It is produced inside the bar. The volume was down from last week but this was expected as the currency re-organises itself. This candle presents another bull candle possibility this week. The OBV has a slight bullish tendency, see if you can find it.
When I look at the daily chart I can see just how the adjustment took place. It has now hit a point of resistance. The candle happens to be almost a doji, this is a good sign for the bears to continue. The Volume on Thursday was the largest, and this could indicate a quick return to selling. The OBV has trended down but now shows a small kink, so there is the potential for a bull candle here. This would be counterproductive for the bear trend to continue. There is more evidence of Bear this week on the daily chart.