Weekly Market Analysis 01.8.2022 – 05.08.2022

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EUR/PLN Active Trade:

We had a long wick rejection candle form on the support area followed by a string engulfing area. We entered the trade on the 4h after the break of the trendline and now we are waiting to see what happens.

 

EUR/USD Potential Trade: 

We are waiting for the pullback into the resistance area for a potential short. 

 

USD/DKK Potential Trade:

We are waiting for a pullback into the support area for a potential long. 

 

USD/ZAR Potential Trade: 

We are waiting for a pullback into the support area for a potential trade long. 

 

USD/THB Potential Trade: 

After the pullback we are now waiting for more bullish PA on the daily, which would also give us more candlesticks to form bullish PA on the 4h as well.

Since we enter trades on the 4h timeframe, we want to see bullish PA there as well, but since the price just reached the area we don’t have any PA yet. 

 

USD/PLN Potential Trade: 

We are waiting for the price to push slightly lower into the S/R area and give us bullish PA. That would also form a double bottom pattern.

 

EUR/CHF Potential Trade: 

We are waiting for the price to push back into the resistance area for a potential trade short. 

 

USD/BRL Potential Trade: 

We are waiting for the price to form a few more bullish candles to truly confirm the end of the pullback. We want extra confirmation because of the strong bearish momentum that we saw approaching the area. 

 

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