US to gain it's power in the coming week
This week has been an hectic week for me. I have had poor judgement on the market. I was blind enough to not see the clear pattern that indicated the weakness of the US dollar. The unemployment claim was a blow, I didn't really see that coming. It was expected to be strong but you cant really rely on expectation so lesson learnt on that agenda.
Let me get technical now, As you can see from my chart i have thoroughly analyse the possible direction of the market in the coming week. I have three harmonic patterns converging; Two AB=CD and A shark Pattern with the help of indicators of MACD and RSI. The MACD has the strongest resistance line that hasn't been broken for a month now. There is a high probability that could bounce back again. The RSI shows the overbought condition and with candlesticks you can see the bulls getting exhausted too.
We have several economic news coming up next week. It really will depend on that to satisfy our pattern. Anything can happen but with good technical analysis we can go hand in hand with the fundamentals
Thank you and Happy trading :)
Let me get technical now, As you can see from my chart i have thoroughly analyse the possible direction of the market in the coming week. I have three harmonic patterns converging; Two AB=CD and A shark Pattern with the help of indicators of MACD and RSI. The MACD has the strongest resistance line that hasn't been broken for a month now. There is a high probability that could bounce back again. The RSI shows the overbought condition and with candlesticks you can see the bulls getting exhausted too.
We have several economic news coming up next week. It really will depend on that to satisfy our pattern. Anything can happen but with good technical analysis we can go hand in hand with the fundamentals
Thank you and Happy trading :)
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