There are two determinants that can help you affect the control of Forex’s weekly trend; the Friday currency pair movement on American stock and the significant difference between the price of the end of the previous day and beginning of the following day – often called as GAP.
The very first and essential moment of currency pairs practice on Forex market is the movement on Friday at American stock exchange. It is basically test through the released news, strength and trends. If these issues ( no matter how negative or positive they may seem) did not affect the cash pairs’ instability in the Forex market on Friday, it only means that banks and brokers were not yet ready for such and movement and will begin the following Monday. In between American meeting on Monday and Asian on Friday, channel hype the resistance levels concludes the beginning point of currency pairs breaking it’s motion up and down and as a general rule, the entire week move in the preset direction.
If the currency made unforeseen jump in trend, we can consider two reasons: 1) new trend wave and 2) Being always at beginning of medium- term wave from HA4 to daily and weekly chart – in this case, movement is trend forming, which means new week – new trend.