Update: Today's Forex Technical Analysis And Bias

 In the world of forex technical anaylsis you will agree with me that we have three major market conditions, namely: 1. Uptrend 2. Downtrend and 3. The range bound market. 

Since the week began most pairs have been in the range of 25 to 50 Pips. To further illustrate you can find the figures below.

The AUD/CAD fake out   of the range yesterday Thursday 11th 2024 and today Friday the price went back into the range.

USD/CAD did  the same thing.

You can see the AUD/USD did the same thing. Faking out of the range and bouncing back into the range.

USD/CHF fake out of the range and yet bounce back in.

The USD/JAPANESE YN broke out of 75 pips range of price in the beginning of the week; moved away into a new range of price at the end of the week.

Our directional bias on GU was long

See figure below.

Our bias on EU was also long. See figure below. 

You can also see the result in the image beloe.

Right now it is your turn. What was your trading journey during the week? Add your comment below. You can also contact the admin if you need forex coaching. 

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