Weekly Bonus Technicals 17 January 2016


Weekly Bonus Analysis Video on EURUSD ( 2 min  36 sec)

TEXT:
Hello everybody .. here’s our weekly bonus analysis …I'm Stef Breschi and today is Sunday, the 17th of January 2016.
Today we’re taking a look at the EURUSD pair as we’ve taken a couple of positions lately we would like to share this with our audience.
Weekly Chart: this market has been chopping around the last few weeks around the 1.0800 key area. As it made its way above 1.0800 in early December, it’s since been trading in a range between the 23.6 and 38.2 Fib levels of the downtrend of Autumn 2015, giving us false signals throughout.
Given the last 2 weekly candles rejecting prices below 1.0800 we are now more inclined to be Long than Short, expecting the market to make a push towards the 50 Fib level around 1.1120 and possibly more.
Daily chart: we have been spoofed by the false signals lately. Were looking to go Long but then went Short as price broke below 1.0800 and re-tested it. Got stopped out only to go Short again after Monday’s bear candle after which we decided to exit for a tiny loss and reversed the position. We expect a move to the upside but again we met with selling above 1.0900 late on Friday.
So we are now in a tight range 1.0800-1.0900 waiting for an upside breakout hopefully next week.
Thank you for watching and have a great week!

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