It's possible that we are seeing the first signs of a turn around on EURJPY.
The Yellow trend line shows the rate of decline on the RIGHT, and the Red trend line shows the rate of decline on the LEFT. They are then copied over to the other downturn for comparison.
Does this mean that 100% it's going down? Of course not! However, it's something to watch, given previous price action on the charts. If you look at previous analysis of this pair (linked) you will see that we are also getting to the top of the Fibonacci marks as well.
The pair was up over 200 pips this week. We'll get a better idea of what's going to happen with this pair closer to the Tuesday sessions next week.
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FULL RISK DISCLOSURE: Trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is no guarantee of future results.
I am not a financial adviser.
I am not a commodity trading adviser.
I am not offering any advice to you as to how you might trade or invest your money.
Charts and analysis are a mixture of my own thoughts, along with input from various sources. TRADE AT YOUR OWN RISK. I AM NOT RESPONSIBLE FOR YOUR TRADING EXPERIENCE. You bear the responsibility to analyze all charts on your own, and make your own opinion before placing a trade.
The Yellow trend line shows the rate of decline on the RIGHT, and the Red trend line shows the rate of decline on the LEFT. They are then copied over to the other downturn for comparison.
Does this mean that 100% it's going down? Of course not! However, it's something to watch, given previous price action on the charts. If you look at previous analysis of this pair (linked) you will see that we are also getting to the top of the Fibonacci marks as well.
The pair was up over 200 pips this week. We'll get a better idea of what's going to happen with this pair closer to the Tuesday sessions next week.
---
FULL RISK DISCLOSURE: Trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is no guarantee of future results.
I am not a financial adviser.
I am not a commodity trading adviser.
I am not offering any advice to you as to how you might trade or invest your money.
Charts and analysis are a mixture of my own thoughts, along with input from various sources. TRADE AT YOUR OWN RISK. I AM NOT RESPONSIBLE FOR YOUR TRADING EXPERIENCE. You bear the responsibility to analyze all charts on your own, and make your own opinion before placing a trade.
I am not a financial adviser.
I am not a commodity trading adviser.
I am not offering any advice to you as to how you might trade or invest your money.
Charts and analysis are a mixture of my own thoughts, along with input from various sources. TRADE AT YOUR OWN RISK. I AM NOT RESPONSIBLE FOR YOUR TRADING EXPERIENCE. You bear the responsibility to analyze all charts on your own, and make your own opinion before placing a trade.