Entries by George Itumo

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WEEKLY ANALYSIS TRADE SETUPS: EURAUD & XAUEUR- ( 13 – 17 April, 2020)📈📊💰

We may be looking at the early stages of a retracement in the larger uptrend or a complete reversal only time will tell which is which. Price may possibly halt at the near term resistance level, therefore continue monitoring your charts for opportunities to join in the impending price moves.

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WEEKLY ANALYSIS TRADE SETUPS: EURJPY & GBPNZD – ( 06 – 10 April, 2020)📈📊💰

Since the month of December last year a bear market ensued on the Euro versus the Japanese Yen which is clearly seen by the descending price channel that has formed since then.Price has respected the resistance and support levels of the channel to the tee.Safe to say that the main trend is a downtrend.Last week’s candlestick was bearish closing off at the support level.

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WEEKLY ANALYSIS TRADE SETUPS: NZDCAD & USDCHF – ( 30 March – 03 April, 2020)📈📊💰

For the past year the New Zealand Dollar versus the Canadian Dollar has been on a steep downtrend with one major retracement visible on the weekly time frame. Price was recently at our major level which has been acting as our support zone. In the previous week price was supported and a dominant bullish candlestick was formed.


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WEEKLY ANALYSIS TRADE SETUPS: USDCAD & EURAUD – ( 23- 27 March, 2020)📈📊💰

Exactly 4 weeks ago in the month of February we covered this pair where there was a descending triangle which was on the brink of a breakout with price at the resistance zone of the pattern. Forex 101 suggests that descending triangle patterns do breakout on the downside. Well just like there are no guarantees in life neither are there any in the Forex market. Price broke out on the upside which was one of the possibilities we discussed 4 weeks ago.

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WEEKLY ANALYSIS TRADE SETUPS: XAUUSD & CADJPY – ( 16- 20 March, 2020)📈📊💰

Following up on this pair that we analyzed at the beginning of the month of March,our pattern was a double top that had made a weekly breakout. Our bias was that there’s a very high probability that sellers would take price lower. True to our analysis price fell into a waterfall moving for about 600 pips before hitting a bottom and forming weekly pin bar.

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WEEKLY ANALYSIS TRADE SETUPS: EURAUD & CADCHF – ( 09- 13 March, 2020)📈📊💰

Viewing the Euro versus the Australian Dollar on the weekly time frame brings us to one of the most common candlesticks we know as price action traders. A pin bar at the top of a an uptrend that has been ongoing for the past 3 years. Furthermore the pin bar comes after a gap up; knowing that some gaps are usually filled, is this a potential signal of a reversal or a minor retracement before price continues higher?

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WEEKLY ANALYSIS TRADE SETUPS: CADJPY & AUDJPY – ( 02- 06 March, 2020)📈📊💰

Analyzing the weekly chart of the Canadian Dollar versus the Japanese Yen, there’s a double top that broke out in the past week. Price has been quite choppy for the last year and three months throwing different patterns at different stages of the consolidation. Currently the double top with a break out below is a potential bearish indication.