Previous Week (18 – 22 Jan)
O: 1.4367 H: 1.4413 L: 1.4028 C: 1.4154
Last Week (25-29 Jan)
O: 1.4142 H: 1.4194 L: 1.3861 C: 1.3863
Weekly
Daily
Hourly
Expected for the week
- We are still very much in a downtrend with oversold readings on the QQE chart.
- I wouldn’t be too enthusiastic about rallying for a huge short as we may be looking at a reversal if 1.3862 does not hold.
- We saw a huge downclose of 1193pips (O – 1.3997, C – 1.2804) in January 2009.
- January 2010 saw (O – 1.4323 C – 1.3863) 460 pips.
§ I would wait for the market to breath and see where it reacts to critical areas (refer chart) before deciding which path to take on a scalp basis or if an opportunity presents for an intraday trade to keep a tight stop loss.
- Important fundamentals are on an everyday basis so we may see a volatile market week.
Fundamentals:
