It was a very tough year for price action analysis if you look at a weekly price. I am very excited about 2020. Next year will bring more clarity to price action especially to DXY, Eur, and GBP.
I have analyzed here the weekly chart for EurUsd. When you look at it EurUsd has started a rally in 2017 and topped in 2018. During 2018 until the end of the 2019 price has tried to find the bottom or was also in a "downtrend". But was it really downtrend?
For me, it was a retracement after that 2017 rally. I found interesting that price has touched weekly support and also 79% retraced from 2018 top.
I am expecting more strength in uptrend upcoming weeks in 2020. I have also added to the chart the "channel" where the price was retracing during 2018-2019.
If we will close outside of the channel, as we are trying during writing this analysis, I will look for long-term swing longs.
Where do I look for targets in the weekly chart?
- First portions above 50% of the range, so in our case, it would be above 1.5000 and the final very long-term target (end of 2020, or the start of 2021) is 1.22000 - to fill the market inefficiency.
I have analyzed here the weekly chart for EurUsd. When you look at it EurUsd has started a rally in 2017 and topped in 2018. During 2018 until the end of the 2019 price has tried to find the bottom or was also in a "downtrend". But was it really downtrend?
For me, it was a retracement after that 2017 rally. I found interesting that price has touched weekly support and also 79% retraced from 2018 top.
I am expecting more strength in uptrend upcoming weeks in 2020. I have also added to the chart the "channel" where the price was retracing during 2018-2019.
If we will close outside of the channel, as we are trying during writing this analysis, I will look for long-term swing longs.
Where do I look for targets in the weekly chart?
- First portions above 50% of the range, so in our case, it would be above 1.5000 and the final very long-term target (end of 2020, or the start of 2021) is 1.22000 - to fill the market inefficiency.
Commento:
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Please join and enjoy staying there
What is there?
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- weekly reviews
- requests charts for particular coins
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