Afternoon Traders,
We have clear uptrend momentum, Id be very interested in seeing how price action responds to the last quarterly highs, (dark blue ray line) At the moment price action is clearly indicating to me further moves to the upside, signified by the large buying that is coming in every time price action tries to push lower,
I've highlighted my area of...
EURJPY is making large pushes followed by deep retraces on a 4 hourly ascending channel. Looking at the MACD indicator we can see a potential higher low on the price action while MACD is making a lower low telling us price is at a lower extreme compared to the previous low.
looking for signs of strength around the channel bottom would indicate that price is ready...
Strong support and price failing to create new Highs. It keeps on falling down. If the yellow zone break, I will Sell until the next demand zone (just follow the red arrow).
Thank and TAYOR!
KHALID HAMID
We recently shorted the EURJPY with great success and it is currently travelling back up to the trend line. As the current trend line is based on the 1D chart and the day is not over, it is not possible to determine exactly where the current trend line will stop and for this reason, I have made two possible entries on this trade setup.
We can see the price has...
We recently shorted the EURJPY with excellent results, hitting our price target and bouncing from the major support/resistance line as expected. Now we are heading back up and as you can see I have outlined how we've gone from making Higher Highs to Lower Highs and so it would seem the uptrend is coming to an end.
Ideally I would wait for price to reach the...
EURJPY is currently in a downtrend on the Daily and 4H, with price nearing the bottom of the daily consolidation zone.
We expect price to continue to S2 where it will either bounce back towards R2 or break lower towards S3.
Confirmation of this bounce is given by a break of the upper band of the trendline channel.
However, until then price is bearish.
