Jul 27 2021 0
Not an exciting session, but the first session of the week also had noticeable changes.
- USD fell in the first session of the week, continue to listen to information before the meeting of the Fed in the middle of this week.
- The number of infections from the Delta variant continues to increase globally, with China reporting the highest number of infections since late January, while new infections also spiked in Japan and Europe.
- Bitcoin rebounded strongly in the first session of the week, sometimes approaching the 40k mark, which is believed to be due to Amazon's recruitment of cryptocurrency and blockchain, in addition, short-covering moves also contributed. into this growth.
- Crude oil prices started the new week struggling after news that China would cut official selling prices for diesel and gasoline by nearly 100 CNH/ton, equivalent to 2 USD/barrel.
The bearish signal has appeared, we have a hanging man pattern on the daily, however, this signal is quite weak, the initial target is around 109.5 so the RR ratio is not really good, guys. Consider carefully before trading this setup.
Price still can't get out of the box, recovered in the last session, this move is mainly influenced by the movement of DXY, EUR has no clear motivation, so we should not buy at this time, so continue Just keep observing, only sell in two cases, price breaks below the box or gives a bearish signal at 1.195.
The price has broken through the descending channel line, completing the triangle flag (/pennant) pattern - a pattern with a very high probability of winning according to Thomas Bulkowski, likely to continue going up in the short term, the target will be around zone 1.390-95, however this uptrend is against the main trend, the RR ratio is also not really good, you should consider before trading.
Although the selling pressure has increased, the price has not been able to get out of the box yet, so we continue to keep the old strategy, wait to buy around the area of 1.245, note that only buy when there is an uptrend signal. reliable price.
The price did not fall much after our probe orders, buying pressure has returned, bullish candlestick patterns have also appeared, suggesting that the bullish correction may not be over yet, so consider exiting. current sell orders, waiting for new opportunities.