mlawson71 Posted December 22, 2020 Posted December 22, 2020 It formed a pair of hanging man candlestick at 1.2270 on the daily time frame, which are a good signal that a correction is about to begin.
mlawson71 Posted December 23, 2020 Posted December 23, 2020 It bounced off from 1.2150, however, with the holidays coming there may not be a big movement over the next week or so.
mlawson71 Posted December 26, 2020 Posted December 26, 2020 The market will open on Monday but a big movement between the holidays is unlikely.
mlawson71 Posted December 27, 2020 Posted December 27, 2020 Personally, I don't intend to trade between the two holidays, the market is too unstable and the risk is too great.
mlawson71 Posted December 28, 2020 Posted December 28, 2020 The pair is forming a sideways range, which is normal between the holidays.
mlawson71 Posted December 30, 2020 Posted December 30, 2020 It's slowly moving north but a rally above 1.2350 is not very likely, in my opinion.
mlawson71 Posted December 31, 2020 Posted December 31, 2020 No trading today, but I wish you all a successful 2021!
mlawson71 Posted January 2, 2021 Posted January 2, 2021 With the holidays almost over, let's see whether the overall move north will continue.
mlawson71 Posted January 3, 2021 Posted January 3, 2021 The holidays are finally over, let's see how it will develop.
mlawson71 Posted January 4, 2021 Posted January 4, 2021 It's consolidating around 1.2250 but the holidays are over so hopefully the range will end sometime soon.
mlawson71 Posted January 5, 2021 Posted January 5, 2021 It's still consolidating above 1.2250. It may still rally enough to break out above 1.2300 by the end of the week though.
mlawson71 Posted January 6, 2021 Posted January 6, 2021 It broke out above 1.2300! The trend remains bullish and next target may be around 1.2400.
mlawson71 Posted January 8, 2021 Posted January 8, 2021 The pair dropped to 1.2200, let's see whether this is the beginning of a major correction.
mlawson71 Posted January 9, 2021 Posted January 9, 2021 It closed at 1.2225. Let's see whether the move south will continue developing next week.
mlawson71 Posted January 10, 2021 Posted January 10, 2021 The market will reopen again soon, and then we may see some correction.
mlawson71 Posted January 13, 2021 Posted January 13, 2021 It is testing 1.2150 and it may break out below that level this time and if that happens next target is 1.2100 and below.
mlawson71 Posted January 14, 2021 Posted January 14, 2021 It's still testing 1.2145. We may see it dropping below 1.2100 before this week ends.
mlawson71 Posted January 15, 2021 Posted January 15, 2021 It dropped below 1.2100. I think the correction has begun and next target will be around 1.1930. Note that there are a pair of impressive shooting star candlesticks on the weekly time-frame below the high at 1.2350.
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