EURUSD WEEKLY ANALAYSIS AND SIGNAL 10 Apr-17 Apr 2016

EURUSD WEEKLY ANALAYSIS AND SIGNAL 10 Apr-17 Apr 2016

EURUSD is in bullish trend during last 4 weeks but previous week EURUSD up trend stopped and stay on trading area

It seems that the uptrend goes weak well let’s check the candles shape

Well look at the previous week candle the down shadow is a few bigger than up shadow so we have not body and market retrace till 38% Fibonacci line

Let’s look at forex economic calendar related to EURUSD during previous week:

As you see there is no important news for EUR and two important news for USD was not important a lot we had ECB President Draghi Speaks and FOMC Meeting Minutes in previous week too

Conclusion:

In the next week we have some important news like Retail Sales and CPI for USA then we should think about more market volatility during next week but talking about new trend is not easy my recommendation is don’t think about new down trend or uptrend till market price is between 1.4450 and 1.3250 the good strategy is using limit strategy I mean look at buy limit opportunity and sell limit opportunity.

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Author:M.Jamshidi