eur/usd weekly price analysis based on traders behaviour
EUR is a currency of the european nation while USD is a currency of USA country . These currencies are used by local of each nation to conduct their daily transactions as well as by foreign to determine the pricing of different product which are then converted to their local pricing. On Monday the 14th of September, one EUR started trading at around 1.18320. The price was able to rise as high as 1.9000 the next day but slightly dropped to around 1.18300 on Tuesday the same day. On Wednesday the same week, the price again rose to around 1.18700There is the possibility of the price to continue rising to around 1.1950 if sellers exceed buyers . This can be explained in terms of traders behaviour as follows;
EUR/USD currency is a stable paired currency and is thus being well tradeable by different traders from all over the world. Both buyers as well as sellers can easily profit from its upward and downwards movement. When the market for this paired currency is moving upwards,that will be an indication that the sellers are more than buyers while when the market for this paired currency is moving downwards,that will be an indication that the buyers are more than the sellers. Since the market is now bearish after being bullish on Monday and Tuesday,this can be explained as from below;
1. EUR/USD bullish price analysis based on traders behaviour.
In a bullish market,the EUR/USD market will be moving in an upwards direction. On Monday the 14th of September, one EUR started trading at around $1.18320. On Tuesday the same week, the price managed to rise as high as 1.9000 but later slightly dropped to around $1.18300 on Tuesday the same week. This market movement is being indicated as from the candle sticks chart below;
The above is the market for EUR/USD currency. There are two points being indicated. There is A and B. Before point A,the market can be seen to be moving upwards to 1.19000 from its lower price of around 1.18320 on Monday. At 1.9000 ,there are more buyers placing their buy positions in the hope that the market will continue moving upwards. This causes the market to experience an overbought condition where it resist to continue moving upwards and instead reverse and starts moving downwards to point A at around 1.18300. At point A ,there buyers who were previously holding their bought positions are starting to close their previously bought position and beginning to open a sell position in the hope that the market will continue moving downwards. This causes the market to again experience an oversold position where it reverse and begins to move upwards to point B at around 1.18700. If the sellers will continue to place their sell positions ,then there is possibility of the market to continue moving upwards. If you are in the long position,then you can continue holding your position until it reaches around 1.19000 so that you can exit and open a sell position since from there the market will begin to move downwards. Always make sure to apply risk management because the market punishes greedy traders.
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