EURUSD Trend Continuation after the 1.116 Mark

EURUSD Trend Continuation after the 1.116 Mark

August 3, 2016 | Author: Denis | No comments | Categories: Market Analysis

Dynamic trend: Turned down

Background: W1 – weak; D1 – weak

Phase: Mark up

EURUSD H1 Breakout

EURUSD H1 Breakout

In point 1 there two breakout bars, with high volume. The second bar had very high volume, which usually means there is some supply behind.

In point 2 was a series of down – bars with low volume, including a test. The up-bar with very high volume in point 1 with upthrust are very significant signs of weakness. But the weakness was not confirmed due to the appearance of the test shortly after.

In point 3 there were two up bars with high volume, which is a normal trend continuation.

Suggested Strategies

The market is still bullish, with a strong background. Wait for a strong VSA signal.

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