The prognosis for week 3 of May 2022 is a higher odds of a Bear week candle with a Neutral to Bull day chart, confused much?? :-)
This assessment in no way considered financial advice.
Looking at the daily chart, we can see this week opened in full continuation from the previous week. This indicates excellent momentum. Tuesday and Wednesday equalised and then rejected any Bull movement. Thursday carried the currency even lower but Friday as expected surrounded some ground to the bulls. The candle on Friday completely eroded Thursday's gains. But volume was remarkably lower. This indicates some oversold characteristics and boosts the chances of this week being more of a sideways or a bullish correction. This may last for almost two weeks before the commencement of another Bear rally. Many aspects look Bear but given the Friday candle. There is a worthy chance of this week being neutral to Bull biased.
This assessment in no way considered financial advice.
Looking at the daily chart, we can see this week opened in full continuation from the previous week. This indicates excellent momentum. Tuesday and Wednesday equalised and then rejected any Bull movement. Thursday carried the currency even lower but Friday as expected surrounded some ground to the bulls. The candle on Friday completely eroded Thursday's gains. But volume was remarkably lower. This indicates some oversold characteristics and boosts the chances of this week being more of a sideways or a bullish correction. This may last for almost two weeks before the commencement of another Bear rally. Many aspects look Bear but given the Friday candle. There is a worthy chance of this week being neutral to Bull biased.