Looking for further downward momentum today, nice break of range and signs of further momentum.
GBP is in poor shape currently and on higher time frames we have no reason to believe this is near the end of the new lows.
I have done some analysis on the Eur/Jpy pair, looking at this I think that the price action will head down towards the support zone at 122.3880 it will test this zone and then head back up towards the trend line.
Once the price action has hit the trend Here is where I will be looking to enter the trade as a long term sell. An entry point at around 123.2465, SL...
Following the short on GBP/JPY which bagged over 200 pips there looks to be indication of a similar move on GBP/AUD possibly returning over double.
This pair has been stuck between the 1.87 and 1.73 area for over a year and a half now last month the resistance was retested however failed to break through resulted in price being stuck in a downwards channel....
Due to basic price action respecting the strong downtrend movement, i believe it will follow this set up.
1) trend touch
2) Fibonacci level 50-38.2%
3)previous respected zones
4) candlestick formation at trendline touch
TP - 144.800 region
Please leave a comment with what you think and if i have missed anything.
we are all students,...
ANOTHER TRADE WITH MULTIPLE TIMEFRAME CONFLUENCE!! (VERY SIMILAR TO THE NZD PAIR) #TOPDOWNANALYSIS
The weekly timeframe indicates a downtrend. Anticipation of a further Bearish Indication could also enable a long-term SELL opportunity.
•1W - Current Market has reached the top of the weekly Trendline . The closed candle demonstrated suggests that a rejection...
Currently USDJPY is looking to be a short position as its broken trends and resistance zones if the price retests to the previous support and respects it as a resistance level the price should continue to go short however if it breaks back into the upper resistance zone i will lead it back into the trend that it broke out of and is a possible long position.
In tradition of the previous happenings of MCO I do expect a downtrend until the previous floor at around 0.000550 - 650. This will likely change the last time when the Visa cards for the US region finally will ship.
Careful - MCO has proven to be always good for a surprise, so an unexpected happening could interrupt the downtrend.
*No financial advice.
WTI (Crude Oil)
A Head and Shoulders pattern was negated last week and now the uptrend is broken.
Looks like we have more room for a down move until the blue line gets hit. At that point we can see a reversal or a bigger move down.
We closed a Short position today marked with the arrow since we want to wait for confirmation on the next move.
this idea will only run if we get some positivity over the ongoing trade wars with china
my idea is for price to break 6.72600 region retest and to carry on bearish
price is under the 200 ema
Candlestick formation looking bearish
us china trade wars is looking to get negotiated which will be great for china
we have a descending triangle that has been respected multiple times.
I'm predicting when price gets to 0.95400 it should reverse and carry on the down trend
im expecting price to hit 0.94330 and possibly break out to further downfall.
JPY/USD| BULLISH + BEARISH PULLBACK MOVE
GREEN ARROW TREND LINE
NOTE | POSITIVE UPTREND LEADING TO POTENTIAL PULLBACK
NOTE | SELL
RED ARROW TREND LINE
NOTE | PULLBACK LEADING TO POTENTIAL UPTREND
NOTE | BUY
GBP/JPY | FUNDAMENTAL ANALYSIS + TREND LINES
NOTE | PMI SURVEY TAKING PLACE 2/01/2019 - 9:30 AM
BLUE HORIZONTAL TREND LINE 140.836
NOTE | RETEST OF AREA
NOTE | STANDING ORDER (BUY 140.900)
NOTE | 8% CONFIDENT
BLUE HORIZONTAL TREND LINE 139.548
NOTE | POTENTIAL BREAK THROUGH
NOTE | STANDING ORDER SELL 139.475
NOTE | 92% CONFIDENT