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weekly #CHANC3 analyze

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I will post every sunday my ideas on the market for the weeks to come, this is my own ideas and reviews, you should not consider this as a trading consulting, and i will not have the responsibility about any future loss.



this pair looks bearish by a fundamental point of view,it maybe take some more time until we see the move i'm expecting.

but it will move somewhere from 1.56% to 3.08% in the next (1 to 6 weeks). 

the challenge here is to find the right spot and timing on entering this trade , technicals and volume may be useful in this case.



we already seeing the bearish movements in the past couple of days,it based on heavy fundamental reasons and it should continue until hits first resistance level. 

the average ATR for the past 6 days is around 1.05%. we had already a move of 6% on this pair on the past 6 days. with RSI indicator almost down the 30 line (on 22 days moving average).

i'll say that on monday we will have a stop on the bearish movement and we will wait for another chance to enter this trade.
the other way to look at this, it may cross the line and move even further down. what i did is opened a starter position on (sell) and time will do the work.



bearish by all means until the first resistance level, after everything back to normal in us stocks gold is starting to loss price, and moving backwards.


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