Weekly reviews

USDJPY

 Upward pressure is being pumped at the area of upper Bollinger band (112.58). In case of success, bulls will get space for further growth towards 114.30. But we have to note quite weak ADX, that may tell about absence of breaking potential from buyers.

Cryptocurrencies

ADX indicator keeps absolutely passive state, that tells about high probability of flat continuation within the range of lower Bollinger bands (5306.45-7267.40).

GBPUSD

Close of the week showed not ideal (close price should be lower for good signal forming), but, anyway, pinbar at the edge of upswing. This can quite be the cause of new downswing in direction of the low 1.2661.

EURUSD

Bullish swing broke the high 1.1733 last week, but faced the stiff resistance area 1.1790-1.1851, that is hard to pierce without downward pullback. Therefore, the main expectation from upcoming week is correction towards the 1.1619 area as preparation for further euro recovery in mid-term direction 1.2000.

USDJPY

Market approaches the resistance level 112.59 (upper Bollinger band), from where a downward bounce is expected - ADX resides in a weak area, at the same time continuing its decline, that tells about absence of trending potential in the upward movement (and, correspondingly, low probability of strong level break).

Cryptocurrencies

Mid-term flat trading within the range of lower Bollinger bands (5306.45-7128.36) preserves. ADX is in an extremely weak area, that tells about high probability of flat continuation.

GBPUSD

Development of upswing continues in direction 1.3268 and 1.3440. Last week bulls successfully neutralized “the cross”, that might be a signal of downswing start, and it’s a sign of upward movement continuation.

EURUSD

Market is still bracketed in the range of the last short swing (1.1532-1.1717) so far. Perhaps, this tendency will be continued. However, we have to note, that bulls have better chances - bar of the previous week covered the fortnight range, almost having broken the swing’s high. Thus, we have to consider resistance 1.1717 as a key zone - in case of break, the major will recover towards 1.1850 and, perhaps, higher.

USDJPY

Consolidation of the market within upper Bollinger bands (110.26-112.42) continues, after that, supposedly, bears will try to break into the lower bands.

Cryptocurrencies

Trading within the range of lower Bollinger bands (5306.45-7384.56) continues. Movement phase is downward, therefore it’s possible to consider short-trades in direction 5306.45 intraweek.