Market condition

EURUSD

Attachment 16530

Attachment 16531

As we see from the daily and weekly charts - the price is on bearish breakdown now for crossing 1.0807 support level from above to below with 1.0461 as the next bearish target. If the price crosses this 1.0461 support level so we may see the bearish trend to be continuing up to 1.005 level at year-end for example.

GBPUSD

Attachment 16532

Attachment 16533

This is bearish breakdown which is going on for right now: the price crossed key support level from above to below with S1 Pivot at 1.4702 and key support level at 1.4565 as the next bearish targets. Chinkou Span line is crossing the price for breakdown to be continuing, and Absolute Strength indicator is estimating the possible ranging condition to be started.

This is interesting movement going on for now: the price was on downtrend breakdown during the NFP for 57 pips, after that the price was bouced from 1.0802 support level back to the local uptrend with 76 pips price movement:

Attachment 17642

Just some templates (with indicators) for the technical analysis (premium section link):

Indicators and templates to evaluate the market condition thread is this one.

Attachment 17752

Inside bars are easily identified pricing patterns that can be found on virtually any chart. The pattern itself requires some simple technical analysis, which includes identifying a series of highs and lows on a daily chart. The idea is that the current candle on the graph will not exceed the previous candles high or low, thus leaving it “inside”.

adapted from the source

And just to continuing with this subject: Pinbar Detector - indicator for MetaTrader 5:

Attachment 17753

Attachment 17754

Quote:

---

Originally Posted by newdigital

Attachment 17752

Inside bars are easily identified pricing patterns that can be found on virtually any chart. The pattern itself requires some simple technical analysis, which includes identifying a series of highs and lows on a daily chart. The idea is that the current candle on the graph will not exceed the previous candles high or low, thus leaving it “inside”.

adapted from the source

---

And this is some indicator for MT4 to found inside bars on the chart: inside bar indicator:

Attachment 17760

Attachment 17761

And this is about how to trade inside bars (the traders are placing 2 pending orders: buy stop and sell stop on the high/low of the first bar for example):

Attachment 17763

Attachment 17792

First-time weekly jobless claims in the U.S. rose by 7,000 to a seasonally adjusted 284,000 during the week to Saturday, the Labor Department said Thursday.

more...

Bank's agreement with authorities cuts off civil claims, costs $2.4 billion plus 'consumer relief.'

more...

Daily Box - indicator for MetaTrader 4

Attachment 20879

Attachment 20881

There is some strong theory that the market is continuing with last week's trend, and new trend may be started on Tuesday only.